Termination of Employment by Death. The Executive's Employment shall terminate automatically at the time of his death. If the Executive's Employment is terminated by reason of the Executive's death, the Corporation shall pay to the Executive's estate, in a cash lump sum within thirty (30) days after the Termination date, an amount equal to the sum of the Accrued Benefits plus the Termination Payment, and shall continue to provide health insurance benefits for the Executive's spouse and minor children (on the same terms in effect on the Termination date) for a period of three (3) years after the Termination date.
Appears in 4 contracts
Samples: Employment Agreement (American Marine Recreation Inc), Employment Agreement (Urban Cool Network Inc), Employment Agreement (Alloy Steel International Inc)
Termination of Employment by Death. The Executive's Employment shall terminate automatically at the time of his death. If the Executive's Employment is terminated by reason of the Executive's death, the Corporation Company shall pay to the Executive's estate, in a cash lump sum within thirty (30) days after the Termination dateDate, an amount equal to the sum of the Accrued Benefits plus the Termination Payment, and shall continue to provide health insurance benefits for the Executive's spouse and minor children (on the same terms in effect on the Termination dateDate) for a period of three (3) years after the Termination dateDate.
Appears in 2 contracts
Samples: Employment Agreement (First Team Automotive Corp), Employment Agreement (First Team Automotive Corp)
