Common use of Upon Termination by Reason of Death Clause in Contracts

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive for the year in which the Termination Date occurs. Except as otherwise provided in Section 13.2, DDR will pay the amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until the first anniversary of the Termination Date. To assure compliance with Section 409A, the timing of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its terms.

Appears in 5 contracts

Samples: Employment Agreement (DDR Corp), Employment Agreement (DDR Corp), Employment Agreement (DDR Corp)

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Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract PeriodPeriod while Executive is employed by Curbline TRS, DDR Curbline will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR Curbline will not be obligated to pay (or provide for payment of) the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR Curbline is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with applicable policy. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus (or 2024 Bonus, if applicable) earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus (or 2024 Bonus, if applicable) for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of Annual Bonus (or 2024 Bonus, if applicable, and to the Termination Date, plus (iiextent unpaid) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by Curbline TRS during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR Curbline will pay the (or cause payment of) this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for employer-provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive and Executive’s eligible dependents as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other Curbline-provided insurance (e.g., the timing life, disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 4 contracts

Samples: Assigned Employment Agreement (SITE Centers Corp.), Assigned Employment Agreement (Curbline Properties Corp.), Assigned Employment Agreement (Curbline Properties Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR SITE Centers will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR SITE Centers will not be obligated to pay the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR SITE Centers is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with SITE Centers policy. DDR SITE Centers will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR SITE Centers will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by SITE Centers during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR SITE Centers will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for SITE Centers provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other SITE Centers provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 4 contracts

Samples: Employment Agreement (SITE Centers Corp.), Employment Agreement (SITE Centers Corp.), Employment Agreement (SITE Centers Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with DDR policy. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by DDR during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for DDR provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other DDR provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 3 contracts

Samples: Employment Agreement (DDR Corp), Employment Agreement (DDR Corp), Employment Agreement (DDR Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract PeriodPeriod while Executive is employed by Curbline TRS, DDR Curbline will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR Curbline will not be obligated to pay (or provide for payment of) the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR Curbline is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Cash Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with applicable policy. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus (or 2024 Bonus, if applicable) earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus (or 2024 Bonus, if applicable) for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of Annual Bonus (or 2024 Bonus, if applicable, and to the Termination Date, plus (iiextent unpaid) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by Curbline TRS during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR Curbline will pay the (or cause payment of) this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for employer-provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive and Executive’s eligible dependents as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other Curbline-provided insurance (e.g., the timing life, disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 2 contracts

Samples: Assigned Employment Agreement (SITE Centers Corp.), Assigned Employment Agreement (Curbline Properties Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Curbline Contract PeriodPeriod while Executive is employed by Curbline (or an appropriate Subsidiary), DDR Curbline will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR Curbline will not be obligated to pay (or provide for payment of) the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR Curbline is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Cash Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with applicable policy. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus (or 2024 Bonus, if applicable) earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus (or 2024 Bonus, if applicable) for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of Annual Bonus (or 2024 Bonus, if applicable, and to the Termination Date, plus (iiextent unpaid) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by Curbline (or an appropriate Subsidiary) during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR Curbline will pay the (or cause payment of) this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for employer-provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive and Executive’s eligible dependents as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other Curbline-provided insurance (e.g., the timing life, disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (SITE Centers Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c7.3(d) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive for the calendar year in which the Termination Date occursoccurs at the “target” level, pro-rated based on the number of days that elapse between January 1 of such year and the Termination Date. Except as otherwise provided in Subject to Section 13.213.1, DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (d) A lump sum equal to the amount referred to in described in, and calculated pursuant to, Section 7.2(d). DDR will pay this Section 7.3(c)(i) amount to Executive’s personal representative as soon as practicable following Executive’s death, but . (e) A lump sum in no event later than March 15 of the year after the year in which cash to Executive’s personal representative as soon as practicable following Executive’s death occurs in an amount equal to the product of (i) 12 multiplied by (ii) the sum of (A) the monthly premium for DDR provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other DDR provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (DDR Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c7.3(d) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive for the calendar year in which the Termination Date occurs. Except as otherwise provided in Section 13.2occurs at the “target” level, DDR will pay the amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive pro-rated based on the same date number of days that the Annual Cash Bonus for that elapse between January 1 of such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until the first anniversary of the Termination Date. To assure compliance with Section 409A, the timing of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its terms.Subject to

Appears in 1 contract

Samples: Employment Agreement (DDR Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR SITE Centers will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR SITE Centers will not be obligated to pay the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR SITE Centers is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with SITE Centers policy. DDR SITE Centers will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR SITE Centers will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by SITE Centers during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR SITE Centers will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for SITE Centers-provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive and Executive’s eligible dependents as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other SITE Centers provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (SITE Centers Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c7.3(d) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to Executive’s Annual Bonus for the calendar year in which the Termination Date occurs at the “target” level, pro-rated based on the number of days that elapse between January 1 of such year and the Termination Date. Subject to Section 13.1, DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (d) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) an amount equal to the value of the Annual Cash Bonus at the target level for Executive for applicable to the year in which the Termination Date occursoccurs at the “Target” level. Except as otherwise provided in Section 13.2, DDR will pay this amount to Executive’s personal representative during the amount referred to 30-day period that begins exactly 60 days after Executive’s death. (e) A lump sum in this Section 7.3(c)(i) cash to Executive’s personal representative as soon as practicable following Executive’s death, but death in no event later than March 15 an amount equal to the product of (i) 12 multiplied by (ii) the year after sum of (A) the year in which Executive’s death occurs (monthly premium for DDR provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other DDR provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits Executive’s death. (f) All unvested equity or equity-based awards will be subject to Sections 13.1 and 13.3 if and treatment in accordance with the plan and/or grant agreements pursuant to the extent either of those sections is applicable according to its termswhich such awards were granted.

Appears in 1 contract

Samples: Employment Agreement (DDR Corp)

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Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract PeriodPeriod while Executive is employed by Curbline TRS, DDR Curbline will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR Curbline will not be obligated to pay (or provide for payment of) the lump sum amount amounts specified in Section 7.3(c) and (d) unless either (x) DDR Curbline is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with applicable policy. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus (or 2024 Bonus, if applicable) earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR Curbline will pay (or cause payment of) this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus (or 2024 Bonus, if applicable) for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of Annual Bonus (or 2024 Bonus, if applicable, and to the Termination Date, plus (iiextent unpaid) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by Curbline TRS during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR Curbline will pay the (or cause payment of) this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for employer-provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive and Executive’s eligible dependents as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other Curbline-provided insurance (e.g., the timing life, disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Assigned Employment Agreement (SITE Centers Corp.)

Upon Termination by Reason of Death. If Executive’s Xxxxxxx’x employment under this Agreement is terminated by reason of Executive’s his death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s Xxxxxxx’x personal representative and Executive’s his eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s Xxxxxxx’x personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Xxxxxxx’x Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s Xxxxxxx’x personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Xxxxxxx’x Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occursyear, to the extent not already paid. DDR will pay this amount to Executive’s Xxxxxxx’x personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s Xxxxxxx’x employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurscurrent year. (c) A lump sum amount equal to (i) $2.5 million, which amount DDR may pay directly or may provide by arranging for life insurance benefits to be made available to Xxxxxxx and his eligible dependents under one year of Executive’s Base Salary as of the Termination Dateor more life insurance policies obtained by DDR. Xxxxxxx agrees, plus (ii) the Annual Cash Bonus at the target level for Executive for the year if requested by DDR, to assist DDR in which the Termination Date occursobtaining such life insurance policy or policies, including by submitting to physical examinations or providing medical histories or other data that may be required in connection with obtaining any such policy or policies. Except as otherwise provided in Section 13.2, if DDR is obligated to make a lump sum payment of this amount (rather than through the arrangement of certain life insurance benefits for Xxxxxxx as described in the immediately prior sentence), it will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative Xxxxxxx as soon as practicable following Executive’s his death, but in no event later than March 15 of the year after the year in which Executive’s his death occurs (provided occurs; provided, that neither Executive Xxxxxxx nor Executive’s his estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing healthmedical, hospitalization, vision, and dental and vision insurance coverage and benefits to Executive’s Xxxxxxx’x eligible dependents at the levels specified in Section 4.2 until through the earlier of (i) the first anniversary of the Termination DateDate and (ii) the end of the Contract Period. To assure compliance with Section 409A, the timing of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its terms.

Appears in 1 contract

Samples: Employment Agreement (Developers Diversified Realty Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c7.3(d) unless either (x) DDR is deemed to have waived the obligation its right to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to Executive’s Annual Cash Bonus for the calendar year in which the Termination Date occurs at the “target” level, pro-rated based on the number of days that elapse between January 1 of such year and the Termination Date. Subject to Section 13.1, DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (d) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) an amount equal to the value of the Annual Cash Bonus at the target level for Executive for applicable to the year in which the Termination Date occursoccurs at the “Target” level. Except as otherwise provided in Section 13.2, DDR will pay this amount to Executive’s personal representative during the amount referred to 30-day period that begins exactly 60 days after Executive’s death. (e) A lump sum in this Section 7.3(c)(i) cash to Executive’s personal representative as soon as practicable following Executive’s death, but death in no event later than March 15 an amount equal to the product of (i) 12 multiplied by (ii) the year after sum of (A) the year in which Executive’s death occurs (monthly premium for DDR provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other DDR provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (DDR Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR SITE Centers will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR SITE Centers will not be obligated to pay the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR SITE Centers is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with SITE Centers policy. DDR SITE Centers will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR SITE Centers will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level, pro-rated based on the number of days that Executive is employed by SITE Centers during the applicable performance period. Except as otherwise provided in Subject to Section 13.213.1, DDR SITE Centers will pay this amount to Executive’s personal representative within 30 days after the amount referred to Termination Date. (d) A lump sum in this Section 7.3(c)(i) cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death, but death in no event later than March 15 an amount equal to the product of (i) 18 multiplied by (ii) the year after sum of (A) the year in which Executive’s death occurs (monthly premium for SITE Centers provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other SITE Centers provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (SITE Centers Corp.)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR will not be obligated to pay the lump sum amount specified in Section 7.3(c) unless either (x) DDR is deemed to have waived the obligation to provide a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary for the year through the Termination Date, to the extent not already paid. DDR will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal to (i) one year of Executive’s Base Salary as of the Termination Date, plus (ii) the Annual Cash Bonus at the target level for Executive for the year in which the Termination Date occurs. Except as otherwise provided in Section 13.2, DDR will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminated. (d) Continuing health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until the first anniversary of the Termination Date. To assure compliance with Section 409A, the timing of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its terms.

Appears in 1 contract

Samples: Employment Agreement (DDR Corp)

Upon Termination by Reason of Death. If Executive’s employment under this Agreement is terminated by reason of Executive’s death during the Contract Period, DDR SITE Centers will pay, or cause to be paid, and provide, or cause to be provided, to Executive’s personal representative and Executive’s eligible dependents, as appropriate, the amounts and benefits specified in this Section 7.3, except that DDR SITE Centers will not be obligated to pay the lump sum amount amounts specified in Section 7.3(c7.3 (c) and (d) unless either (x) DDR SITE Centers is deemed to have waived the obligation its right to provide present and require a Release as provided in Section 8.2 or (y) Executive’s personal representative has timely executed a Release as contemplated by Section 8.3. The amounts and benefits specified in this Section 7.3 are as follows: (a) A lump sum amount equal to Executive’s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paidpaid in accordance with SITE Centers policy. DDR SITE Centers will pay this amount to Executive’s personal representative within 30 days of the Termination Date. (b) A lump sum amount equal to Executive’s Annual Cash Bonus (or 2019 Bonus, as applicable) earned for the calendar year immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR SITE Centers will pay this amount to Executive’s personal representative on the same date and in the same amount that the Annual Cash Bonus (or 2019 Bonus, as applicable) for such year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year in which the Termination Date occurs. (c) A lump sum amount equal in value to (i) one year of Executive’s Base Salary Annual Bonus (or 2019 Bonus, as of the Termination Date, plus (iiapplicable) the Annual Cash Bonus at the target level for Executive that would have been earned for the calendar year in which the Termination Date occursoccurs at the “Target” level (which level, in the event that the Termination Date occurs prior to the determination of the 2019 Bonus payout with respect to the 2019 calendar year, shall be deemed to be $200,000), pro-rated based on the number of days that Executive is employed by SITE Centers during the applicable performance period (or during the 2019 calendar year, if the Termination Date occurs during such calendar year). Except as otherwise provided in Subject to Section 13.213.1, DDR SITE Centers will pay the this amount referred to in this Section 7.3(c)(i) to Executive’s personal representative as soon as practicable following Executive’s death, (but in no event later than March 15 of the year after the year in which Executive’s death occurs (provided that neither Executive nor Executive’s estate may designate the taxable year of payment74 days) and will pay the amount referred to in this Section 7.3(c)(ii) to Executive on the same date that the Annual Cash Bonus for that year would have been paid if Executive’s employment had not been terminated, but in any event not later than March 15 of the calendar year following the calendar year in which Executive’s employment is terminatedTermination Date. (d) Continuing A lump sum in cash to Executive’s personal representative as soon as practicable (but no later than 74 days) following Executive’s death in an amount equal to the product of (i) 18 multiplied by (ii) the sum of (A) the monthly premium for SITE Centers provided health, dental and vision insurance coverage and benefits to Executive’s eligible dependents at the levels specified in Section 4.2 until in effect for Executive as of Executive’s death, plus (B) the first anniversary employer portion of the Termination Date. To assure compliance with Section 409Amonthly premium for other SITE Centers provided insurance (e.g. life, the timing disability, etc.) in effect for Executive as of the provision of these benefits will be subject to Sections 13.1 and 13.3 if and to the extent either of those sections is applicable according to its termsExecutive’s death.

Appears in 1 contract

Samples: Employment Agreement (SITE Centers Corp.)

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