Common use of Termination upon Death of the Founder Clause in Contracts

Termination upon Death of the Founder. If the Founder dies during the term of this Agreement, the Employer shall pay to the estate of the Founder the following: (i) within ten (10) days after the date on which the Founder dies, all amounts accrued through the date of termination, any unreimbursed expenses incurred pursuant to Section 2.6 of this Agreement, an amount for any accrued but unused vacation days, calculated at the Founder salary in effect on the termination date, and any other benefits specifically provided to the Founder under any benefit plan; and (ii) in six equal monthly installments commencing on the first day of the month immediately following the month in which the Founder dies, an amount equal to one year's salary provided for in Section 2.1(a) and (b) of this Agreement.