Common use of Termination of Employment by Reason of Death or Disability Clause in Contracts

Termination of Employment by Reason of Death or Disability. If the Executive’s employment is terminated by the Company under Section 2(a) by reason of death or disability under Section 2(b), then the Company shall through the Date of Termination, pay the Executive his Accrued Benefit. In addition, (i) subject to the Executive (in case of disability only) signing a general release of claims in favor of the Company and related persons and entities in a form and manner satisfactory to the Company (the “Release”) within the 21-day period following the Date of Termination and the expiration of the seven-day revocation period for the Release, the Company shall pay the Executive, or his estate, as the case may be, a lump sum amount equal to the target value of each of his outstanding performance equity awards under the Company’s long-term incentive compensation program with a performance measurement period that has not ended as of the Date of Termination. Such amount shall be paid on the first payroll date that occurs at least 30 days after the Date of Termination; (ii) upon the Date of Termination, all time-based restricted stock awards held by the Executive shall vest and become nonforfeitable.

Termination of Employment by Reason of Death or Disability. If the Executive’s employment is terminated by the Company under Section 2(a) by reason of death or disability under Section 2(b), then the Company shall through the Date of Termination, pay the Executive his Accrued Benefit. In addition, (i) subject to the Executive (in case of disability only) signing a general release of claims in favor of the Company and related persons and entities in a form and manner satisfactory to the Company (the “Release”) within the 21-day period following the Date of Termination and the expiration of the seven-day revocation period for the Release, the Company shall pay the Executive, or his estate, as the case may be, a lump sum amount equal to the his most recent target value of each of his outstanding performance equity awards award under the Company’s long-term incentive compensation program with a performance measurement period that has not ended as of the Date of Terminationprogram. Such amount shall be paid on the first payroll date that occurs at least 30 days after the Date of Termination; (ii) upon the Date of Termination, all time-based restricted stock awards held by the Executive shall vest and become nonforfeitable.