Common use of Termination Upon Executive’s Death Clause in Contracts

Termination Upon Executive’s Death. If the Executive’s employment terminates during the Term due to the Executive’s death, then: (i) SSP Partners shall pay Executive’s beneficiary, in a lump sum as soon as practicable following the Date of Termination, (A) Executive’s accrued but unpaid Base Salary and bonus through the Date of Termination, (B) Executive’s accrued vacation pay through the Date of Termination and (C) a pro-rata portion of Executive’s target bonus for the year in which the termination of employment occurs; (ii) SSP Partners or the Company shall provide Executive’s spouse and dependents with continued health benefits under the SSP Partners or Company benefit plans, as applicable, for a period of one (1) year following the Date of Termination; and (iii) notwithstanding any provision in any equity incentive plan or equity award agreement to the contrary, all restricted stock and stock options described in Section 5(e) and held by Executive immediately prior to the Date of Termination shall vest.

Termination Upon Executive’s Death. If the Executive’s employment terminates during the Term due to the Executive’s death, then: (i) SSP Partners shall pay Executive’s beneficiary, in a lump sum as soon as practicable following the Date of Termination, (A) Executive’s accrued but unpaid Base Salary and bonus through the Date of Termination, (B) Executive’s accrued vacation pay through the Date of Termination and (C) a pro-rata portion of Executive’s target bonus for the year in which the termination of employment occurs; (ii) SSP Partners or the Company shall provide Executive’s spouse and dependents with continued health benefits under the SSP Partners or Company benefit plans, as applicable, for a period of one (1) year following the Date of Termination; and (iii) notwithstanding any provision in any equity incentive plan or equity award agreement to the contrary, all restricted stock and stock options described in Section 5(e6(e) and held by Executive immediately prior to the Date of Termination shall vest.