Common use of Termination of Employment by Death Clause in Contracts

Termination of Employment by Death. Upon the death of the Employee, the Employment will be terminated on the applicable Termination Date. If the Employee's Employment is terminated by reason of the Employee's death, the Company shall pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to such payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within thirty (30) days after the Termination Date, the amount equal to the sum of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, (ii) all compensation previously deferred by the Employee, if any, (together with any accrued interest or earnings thereon) which has not yet been paid, and (iii) any accrued but unpaid vacation pay.

Appears in 2 contracts

Samples: Employment Agreement (Tropical Sportswear International Corp), Employment Agreement (Tropical Sportswear International Corp)

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Termination of Employment by Death. Upon The Employee's Employment shall terminate during the death term hereof automatically at the time of the Employee, the Employment will be terminated on the applicable Termination Datehis death. If the Employee's Employment is terminated by reason of the Employee's death, the Company shall pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to such payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within thirty (30) days after the Termination Date, the amount equal to the sum of of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, , (ii) all compensation previously deferred by the Employee, if any, Employee (together with any accrued interest or earnings thereon) which has not yet been paid, and (iii) any accrued but unpaid vacation paypay and (iv) (a) the product of the Base Salary being paid for the calendar year of death multiplied by three (3).

Appears in 2 contracts

Samples: Employment Agreement (Apple Orthodontix Inc), Employment Agreement (Apple Orthodontix Inc)

Termination of Employment by Death. Upon The Employee's Employment shall terminate during the death term hereof automatically at the time of the Employee, the Employment will be terminated on the applicable Termination Datehis death. If the Employee's Employment is terminated by reason of the Employee's death, the Company shall pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to such payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within thirty (30) days after the Termination Date, the amount equal to the sum of of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, , (ii) all compensation previously deferred by the Employee, if any, Employee (together with any accrued interest or earnings thereon) which has not yet been paid, and (iii) any accrued but unpaid vacation paypay and (iv) (a) the product of the Base Salary being paid for the calendar year of death multiplied by three (3).

Appears in 1 contract

Samples: Employment Agreement (Apple Orthodontix Inc)

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Termination of Employment by Death. Upon The Employee's Employment shall automatically terminate upon the death of the Employee, the Employment will be terminated on the applicable Termination Date. If the Employee's Employment is terminated by reason of the Employee's death, the Company shall pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to such payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within thirty (30) days after the Termination Date, the amount equal to the sum of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, (ii) all compensation previously deferred by the Employee, if any, (together with any accrued interest or earnings thereon) which has not yet been paid, and, (iii) any accrued but unpaid vacation pay., and

Appears in 1 contract

Samples: Employment Agreement (Tropical Sportswear International Corp)

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