Termination of Employment due to Death or Permanent Disability Clause Samples
The 'Termination of Employment due to Death or Permanent Disability' clause defines the process and consequences when an employee's contract ends because of their death or a condition that permanently prevents them from working. Typically, this clause outlines the immediate cessation of employment and details any final payments, benefits, or entitlements owed to the employee or their beneficiaries, such as unpaid salary, accrued leave, or insurance payouts. Its core function is to provide clarity and certainty for both the employer and the employee’s estate regarding rights and obligations in these unforeseen circumstances, ensuring a fair and orderly resolution.
Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s death during his employment with the Company and the Executive having satisfied the criteria provided at Section 6(a)(i) as of or prior to the date of his death or (ii) the Executive’s death during the period while Executive was receiving Retirement Benefits as a result of compliance with the criteria provided at Section 6(a)(i) and 6(a)(ii), (1) the Executive’s legal representative or any person empowered to act on his behalf under his will or under the then applicable laws of descent and distribution shall be entitled to the extension of the term of stock option exercisability pursuant to Section 6(b)(i) and (2) the Executive’s dependents, to the extent applicable, shall be entitled to the medical and dental benefits pursuant to Section 6(b)(ii)(A)-(D) for that period of time until the Executive would have achieved the age of 65 if the Executive had lived.
(b) In the event of the Executive’s Permanent Disability during his employment with the Company and the Executive having satisfied the criteria provided at Section 6(a)(i), the Executive, and to the extent applicable, his dependents, shall be entitled to the benefits provided in Section 6(b)(i)and 6(b)(ii)(A)-(D).
Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s death during his employment with the Company and the Executive having satisfied the criteria provided at Section 5(a)(i) as of or prior to the date of his death or (ii) the Executive’s death during the period while Executive was receiving Retirement Benefits as a result of compliance with the criteria provided at Section 5(a)(i) and 5(a)(ii), (1) the Executive’s legal representative or any person empowered to act on his behalf under his will or under the then applicable laws of descent and distribution shall be entitled to the benefits pursuant to Section 5(b)(i) (“Option Exercisability”) and Section 5(b)(ii) (“Performance Stock Awards”) and (2) the Executive’s dependents, to the extent applicable, shall be entitled to the benefits pursuant to Section 5(b)(iii)(A)-(D) (“Medical and Dental Coverage”) for that period of time until the Executive would have achieved the age of Medicare eligibility if the Executive had lived.
(b) In the event of the Executive’s Permanent Disability during his employment with the Company and the Executive having satisfied the criteria provided at Section 5(a)(i), the Executive, and to the extent applicable, his dependents, shall be entitled to the benefits provided in Section 5(b)(i) (“Option Exercisability”), Section 5(b)(ii) (“Performance Stock Awards”) and 5(b)(iii)(A)-(D) (“Medical and Dental Coverage”).
Termination of Employment due to Death or Permanent Disability. In the event of the Participant’s termination of employment due to death or permanent disability prior to the Determination Date, the Participant’s outstanding PSUs and Dividend Equivalents shall vest immediately at the target level and be paid in the form described in Section 1.4(c) above within one month following such termination of employment.
Termination of Employment due to Death or Permanent Disability. In the event of the Participant’s termination of employment due to death or permanent disability prior to the Determination Date, the Participant’s outstanding Award shall not be adjusted pursuant to Section 1.4(a) above, but shall vest immediately at the target level and be paid in cash within one month following such termination of employment. For purposes of this Section 1.5(c), a Participant shall have a “permanent disability” if he is found to be disabled, under the terms of SunCoke’s long-term disability policy in effect at the time of the Participant’s termination, due to such condition or if the Committee in its discretion makes such determination.
Termination of Employment due to Death or Permanent Disability. The Employment Term shall be terminated immediately upon the death or disability (as such term is defined under the Company’s long-term disability plan) of the Executive. In the event of the Executive’s employment with the Company is terminated due to his death or disability, the Executive, his estate or his beneficiaries, as the case may be, shall only be entitled to the Accrued Benefits.
Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s death during his employment with the Company or (ii) the Executive’s death during the period while Executive was receiving Retirement Benefits as a result of compliance with the criteria provided at Section 6(a)(i) and 6(a)(ii), (1) the Executive’s legal representative or any person empowered to act on his behalf under his will or under the then applicable laws of descent and distribution shall be entitled to the extension of the term of stock option exercisability pursuant to Section 6(b)(i) and (2) the Executive’s dependents, to the extent applicable, shall be entitled to the medical and dental benefits pursuant to Section 6(b)(ii)(A)-(D) for that period of time until the Executive would have achieved the age of 65 if the Executive had lived.
(b) In the event of the Executive’s Permanent Disability during his employment with the Company, the Executive, and to the extent applicable, his dependents, shall be entitled to the benefits provided in Section 6(b)(i)and 6(b)(ii)(A)-(D).
Termination of Employment due to Death or Permanent Disability. In the event of the Executive’s death during the Employment Term or Termination of Employment due to Disability, the Executive’s estate and/or beneficiaries, as the case may be, shall be entitled to:
(i) the Accrued Benefits and the Executive shall not be entitled to any payment of the Incentive Bonus for such year of Termination of Employment; and
(ii) a cash payment equal to sum of (A) one (1) times the Executive’s Base Salary as of the Date of Termination, and (B) one (1) times the Incentive Bonus earned by the Executive for the calendar year previous to the calendar year in which the Executive’s Date of Termination occurs (or, if the Date of Termination occurs prior to the end of the first calendar year of the Term, the Incentive Bonus for such calendar year at the target level).
Termination of Employment due to Death or Permanent Disability. (a) In the event of the Executive’s death during his employment with the Company and the Executive having satisfied the criteria provided at Section 6(a)(i) as of or prior to the date of his death, the Executive’s legal representative or any person empowered to act on his behalf under his will or under the then applicable laws of descent and distribution shall be entitled to the extension of the term of stock option exercisability pursuant to Section 6(b)(i).
(b) In the event of the Executive’s Permanent Disability during his employment with the Company and the Executive having satisfied the criteria provided at Section 6(a)(i), the Executive, and to the extent applicable, his dependents, shall be entitled to the benefits provided in Section 6(b)(i).
Termination of Employment due to Death or Permanent Disability. In the event of the termination of Executive’s employment due to Executive’s death or Permanent Disability, the Executive’s legal representative or any person empowered to act on Executive’s behalf under Executive’s will or under the then applicable laws of descent and distribution shall be entitled to the following:
Termination of Employment due to Death or Permanent Disability. (a) In the event of the Executive’s death during employment with the Company, (1) the Executive’s legal representative or any person empowered to act on Executive’s behalf under Executive’s will or under the then applicable laws of descent and distribution shall be entitled to Performance Stock Award vesting pursuant to Section 4(b)(i) subject to Section 12 (with the release signed by Executive, if capable, or, if not, by such legal representative or other such person) and (2) the Executive’s dependents, to the extent applicable, shall be entitled to benefits pursuant to Section 4(b)(ii) if any.
(b) In the event of the Executive’s Permanent Disability during employment with the Company, the Executive, and to the extent applicable, Executive’s dependents, shall be entitled to Performance Stock Award vesting provided in Section 4(b)(i) subject to Section 12 and to benefits pursuant to Section 4(b)(ii) if any.