Common use of Termination of Employment Due to Death Clause in Contracts

Termination of Employment Due to Death. If the Employee's employment with the Company or any of its subsidiaries is terminated because of death prior to the Release Date, (i) the restrictions of Paragraph 2 applicable to the Restricted Stock shall terminate on the date of death and such Restricted Stock shall be free of such restrictions and, except as otherwise provided in Paragraph 4 hereof, freely transferable, and (ii) a Release Date shall be deemed to have occurred for all RSUs.

Appears in 4 contracts

Samples: Restricted Stock and Restricted Stock Unit Agreement (Mgic Investment Corp), Restricted Stock and Restricted Stock Unit Agreement (Mgic Investment Corp), Restricted Stock and Restricted Stock Unit Agreement (Mgic Investment Corp)

AutoNDA by SimpleDocs

Termination of Employment Due to Death. If the Employee's employment with the Company or any of its subsidiaries is terminated because of death prior to the Release Date, (i) the restrictions of Paragraph 2 applicable to the Restricted Stock shall terminate on the date of death and such Restricted Stock shall be free of such restrictions and, except as otherwise provided in Paragraph 4 hereof, freely transferable, and (ii) a Release Date shall be deemed to have occurred for all RSUs.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Mgic Investment Corp), Restricted Stock Agreement (Mgic Investment Corp)

Termination of Employment Due to Death. If the Employee's ’s employment with the Company or any of its subsidiaries is terminated because of death prior to the Release Date, (i) the restrictions of Paragraph 2 applicable to the Restricted Stock shall terminate on the date of death and such Restricted Stock shall be free of such restrictions and, except as otherwise provided in Paragraph 4 hereof, freely transferable, and (ii) a Release Date shall be deemed to have occurred for all RSUs.

Appears in 2 contracts

Samples: Restricted Stock and Restricted Stock Unit Agreement (Mgic Investment Corp), Restricted Stock and Restricted Stock Unit Agreement (Mgic Investment Corp)

Termination of Employment Due to Death. If the Employee's ’s employment with the Company or any of its subsidiaries is terminated because of death prior to the Release Date, (i) the restrictions of Paragraph 2 applicable to the Restricted Stock shall terminate on the date of death and such Restricted Stock shall be free of such restrictions and, except as otherwise provided in Paragraph 4 hereof, freely transferable, transferable and (ii) a Release Date shall be deemed to have occurred for all RSUs.

Appears in 1 contract

Samples: Restricted Stock Agreement (Mgic Investment Corp)

AutoNDA by SimpleDocs

Termination of Employment Due to Death. If the Employee's employment with the Company or any of its subsidiaries all Participating Companies is terminated because of death prior to the Release Date, (i) the restrictions of Paragraph 2 applicable to the Restricted Stock shall terminate on the date of death and such Restricted Stock shall be free of such restrictions and, except as otherwise provided in Paragraph 4 hereof, freely transferable, and (ii) a Release Date shall be deemed to have occurred for all RSUs.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Mgic Investment Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!