Common use of Termination of Employment due to Death or Permanent Disability Clause in Contracts

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.

Appears in 9 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

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Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s '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 '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 '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 '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 Medicare eligibility if the Executive had lived.

Appears in 6 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s '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 '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 '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 '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.

Appears in 5 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

Termination of Employment due to Death or Permanent Disability. (a) In the event of (i) the Executive’s '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 '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 '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 '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.

Appears in 1 contract

Samples: Executive Officer Benefits Agreement (Power Integrations Inc)

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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 Medicare eligibility if the Executive had lived.

Appears in 1 contract

Samples: Executive Officer Benefits Agreement (Power Integrations Inc)

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