Termination Upon Executive’s Death or Disability. In the event of the death or Disability (as defined in this paragraph) of Executive during the Employment Period, the Employment Period shall terminate effective immediately, and, provided such termination is after the Effective Date, the Bank shall pay to Executive (or his representative) in a lump sum, on the Bank’s regular payroll payment date next following the thirty-second (32nd) day after the effective date of termination, Executive’s Accrued Compensation. Provided such termination is after the Effective Date, Executive (or his representative) shall also continue to receive Executive’s prevailing Base Salary (less any disability pay or sick pay benefits to which Executive may be entitled under the Bank’s customary practices and policies) for a period of twelve (12) months following the effective date of termination payable in accordance with the Bank’s normal payroll policies (payment to commence on the Bank’s regular payroll payment date next following the thirty-second (32nd) day after the effective date of such termination, but retroactive to such effective date), and the Bank shall pay to Executive (or his representative) an amount equal to the prorated portion of the Annual Bonus Executive earned with respect to the year immediately preceding the year in which the effective date of termination occurred provided that Executive had been employed by the Bank for at least six (6) months during such calendar year (provided, however, that if the effective date of termination occurs during the second six (6) months of the first year of the Effective Employment Period, the amount payable shall be equal to the maximum Annual Bonus), payable within the time specified in Section 3(B) hereof. The Bank shall also maintain in full force and effect for the continued benefit of Executive (if not deceased) and Executive’s spouse (if any) for a period of twelve (12) months following the effective date of termination all Benefits in which Executive or his spouse were participating immediately prior to the effective date of termination at the level in effect and upon substantially the same terms and conditions (including, without limitation, contributions required by Executive for such Benefits) as existed immediately prior to the effective date of termination (except to the extent that Executive and/or his spouse may be ineligible for one or more such Benefits under applicable plan terms). The term “Disability” as used in this Agreement means physical or mental i...
Termination Upon Executive’s Death or Disability. Upon Executive’s death or Disability:
1. the Company shall pay to Executive (or Executive’s designated beneficiaries), an amount equal to Executive’s accrued but unpaid then-current Base Salary and Deferred Initial Bonus Amounts, as well as any unpaid expense reimbursements or similar cash entitlements, pursuant to the applicable policies of the Company and its Affiliates, through the Termination Date, but excluding any payments or benefits with respect to vacation time;
2. provided that the Offtake Condition is achieved prior to the Termination Date as determined by the Board in good faith, to the extent not yet paid to Executive (or Executive’s designated beneficiaries), the Company shall pay to Executive (or Executive’s designated beneficiaries) (x) the amount of Executive’s Annual Bonus for the last full year during which Executive performed services for the Partnership Parties, and (y) the amount of Executive’s Annual Bonus for the current year, based on Executive’s Annual Bonus for such last full year and pro-rated based on Executive’s Termination Date, which amounts shall be payable at the time, and to the extent that, such Annual Bonus amounts are payable to similarly situated executive officers of the Company; and
3. the treatment of each long-term incentive compensation award shall be governed by the terms and conditions of the applicable award agreement for such award and the Plan or similar incentive award program under which such award was granted.
Termination Upon Executive’s Death or Disability. Upon Executive’s death or Disability:
(A) Company shall pay to Executive (or his designated beneficiaries), an amount equal to Executive’s accrued but unpaid then-current Base Salary through the Termination Date;
(B) to the extent not yet paid to Executive (or his designated beneficiaries), Company shall pay to Executive (or his designated beneficiaries) (1) the amount of Executive’s Annual Bonus for the last full year during which Executive performed services for the Partnership Parties (including the amount of any Additional Bonus, if applicable), and (2) the amount of Executive’s Annual Bonus for the current year, based on Executive’s Annual Bonus for such last full year (including the amount of any Additional Bonus, if applicable) and pro-rated based on Executive’s Termination Date; and
(C) any units which may have been awarded to Executive under the Plan or any other long-term incentive programs available generally to the Company’s executive officers in the future, in each case, shall vest in full as of the Termination Date and convert into Common Units as set forth in the applicable award agreement.
Termination Upon Executive’s Death or Disability. Upon Termination of Executive’s employment due to Executive’s death pursuant to 8(a)(i) hereof or Disability pursuant or 8(a)(ii) hereof, Executive shall receive a lump sum cash payment equal to the sum of (1) any Base Salary payable through the date of termination (including any accrued and unpaid Base Salary) and any Earned Bonus which remains unpaid as of the date of termination; and (2) an amount equal to 75% of the Executive's Base Salary in effect at the time of his termination.
Termination Upon Executive’s Death or Disability. Executive’s employment hereunder shall terminate immediately upon his death or at such time as he becomes totally disabled within the meaning of FIC’s long-term disability plan, provided Executive or his beneficiary, as applicable, shall be entitled to the additional payments provided for in Paragraph D or Paragraph E of Exhibit A hereto, as applicable, in the event of any such termination prior to December 31, 2006.
Termination Upon Executive’s Death or Disability. Upon Executive’s death or the termination of Executive’s employment hereunder by the Company or Executive as a result of Executive becoming Disabled:
(A) the Company shall pay to Executive (or his designated beneficiaries), an amount equal to Executive’s accrued but unpaid then-current Base Salary through the Termination Date;
(B) the Company shall pay to Executive, in a single lump sum within fourteen (14) calendar days of the Termination Date, to the extent not yet paid to Executive (or his designated beneficiaries), (1) the amount of Executive’s Annual Bonus for the last full year during which Executive performed services for the Partnership Parties (including the amount of any Additional Bonus, if applicable), and (2) the amount of Executive’s Annual Bonus for the current year, based on Executive’s Annual Bonus for such last full year, up to an amount that is not to exceed the Low Annual Bonus if such last full year was calendar year 2023 (and further adjusted to include the amount of any Additional Bonus, if applicable), and pro-rated based on Executive’s Termination Date; and
(C) any units which may have been awarded to Executive under the Plan or any other long-term incentive programs available generally to the Company’s executive officers in the future, in each case, shall vest in full as of the Termination Date and convert into Common Units as set forth in the applicable award agreement.
Termination Upon Executive’s Death or Disability. Upon Termination of Executive’s employment due to Executive’s death pursuant to 8(a)(i) hereof or Disability pursuant or 8(a)(ii) hereof,
(i) Executive shall receive a lump sum cash payment equal to the sum of (1) any Base Salary payable through the date of termination and any Earned Bonus which remains unpaid as of the date of termination; and (2) an amount equal to 75% of the Executive's Base Salary in effect at the time of his termination;
(ii) to the extent the Option granted to Executive pursuant to Section 4(e) hereof has not vested at the time of such termination, the unvested portion of the Option will vest and become immediately exercisable, and the entire Option will continue to be exercisable until the expiration date thereof; and
(iii) to the extent the Option granted to Executive pursuant to Section 4(e) hereof has vested prior to the date of Executive’s termination, such vested portion of the Option will remain exercisable until its expiration date.
Termination Upon Executive’s Death or Disability. (a) In the event Executive becomes “Disabled” as defined herein, the Company or Executive will have the right, to the extent permitted by law, to terminate the employment of Executive upon at least ninety (90) days’ prior written notice to the other party, provided that the Company will not have the right to terminate Executive’s employment in accordance with this Section 4.1(b) if, (i) in the opinion of a qualified physician reasonably acceptable to both parties, it is reasonably certain that Executive will be able to resume his duties on a regular full-time basis within one hundred eighty (180) days of the date that the notice of such termination is delivered, and (ii) upon the expiration of such one hundred eighty (180) day period, Executive has resumed his duties on a regular full-time basis. For purposes of this Agreement, the terms “Disabled” or “Disability” shall mean Executive is unable to perform the essential functions of his position with or without reasonable accommodation.
Termination Upon Executive’s Death or Disability. (a) Upon Executive’s death or the termination of Executive’s employment due to Disability (as defined in the 2004 Incentive Stock Plan), Executive, or Executive’s estate or beneficiaries in the case of the death of Executive, shall have no right to receive any compensation or benefit hereunder on and after the effective date of the termination of employment, except for the following:
(i) Executive’s base salary and other benefits that are earned and accrued under this Agreement prior to the date of termination, including any earned and accrued but unpaid annual incentive award, which for the sake of clarity shall be prorated through the Executive’s employment separation date, and reimbursement under this Agreement for expenses incurred prior to the date of such termination (collectively, the “Accrued Benefits”); and
(ii) vesting of any Equity Compensation Awards that remain unvested as of the termination date consistent with the terms and conditions of the 2004 Incentive Sock Plan.
(b) The payments to be made in this Section 4.1 shall be in addition to, rather than in lieu of, the entitlement of Executive or his estate to any other insurance or benefit proceeds as a result of his death or disability.
Termination Upon Executive’s Death or Disability. The Employment Period shall terminate immediately upon the death or disability of Executive. If the Employment Period is terminated pursuant to this Section 8(b), the Company shall have the following obligations to Executive (or his estate) (i) the payment of the Accrued Obligations, which shall be paid in accordance with Section 8(a), and (ii) the payment of Severance Obligations, which shall be paid in accordance with Section 8(f).
