Death of Executive definition

Death of Executive. Executive's estate shall receive three (3) months of Salary, and Executive's dependents who are covered by Group Health Coverage at the time of Executive's death shall receive continued Group Health Coverage for three (3) months following Executive's death. Should Executive satisfy the requirements for keyman insurance, Executive's estate shall receive an additional three (3) months of Salary, and Executive's dependents who are covered by Group Health Coverage at the time of Executive's death shall receive an additional three (3) months of continued Group Health Coverage. Except in the event of death of Executive, Separation Pay shall not be considered earned at the time of the termination, shall not be paid in a lump sum, and shall not be paid at the time of termination. Instead, Separation Pay shall be paid after termination, at Employer's regular pay intervals, as though Executive were still employed by Employer. For example, three (3) months of Base Compensation would be paid over a period of three (3) months following termination. If the Agreement is terminated by the death of Executive, the Separation Pay specified in subsection (f) above shall be paid in a lump sum to Executive's designated beneficiaries within 120 days after Executive's death. In the event of Executive's death during one of the periods of Separation Pay specified in subsections (a) through (e) above, any owed but unpaid balance of such Separation Pay shall be accelerated and shall be paid in a lump sum to Executive's designated beneficiaries within 120 days after Executive's death.
Sample 1

Examples of Death of Executive in a sentence

  • The personal representative of Executive (after his Death) is an intended third-party beneficiary of this Agreement, and may enforce the obligations of Company, and exercise the rights of Executive, hereunder after the Death of Executive, all of which obligations and rights (as relevant) shall survive.

  • RowlandExecutive Benefits and Payments Upon Separation Termination without Cause Change ofControl Retirement Incapacity of Executive Death of Executive Compensation:Cash Severance .

  • Participatory Processes towards Co-management of Natural Resources in Pastoral Areas in the Middle East (A Training of Trainers Source Book of the Sustainable Development Department; FAO, 2003).

  • DixonExecutive Benefits and Payments Upon Separation Termination without Cause Change ofControl Retirement Incapacity of Executive Death of Executive Compensation:Cash Severance .

  • The Term and Executive’s employment may be terminated upon the occurrence of any of the following events: Death of Executive; Mental or physical disability of Executive which prevents him from performing substantially all of his duties hereunder for a period of ninety (90) consecutive days or one hundred twenty (120) days during any one year (“Disability”).

  • Sections 5.3 (Death of Executive) and 5.4 (Disability) of the Existing Agreement shall remain in effect until February 28, 2021, subject to Section 5.8 (Execution of Release) of the Existing Agreement, and thereafter shall have no further force of effect.

  • This Agreement shall terminate upon the occurrence of any of the following events: Death of Executive; Mental or physical disability of Executive which prevents him from performing substantially all of his duties hereunder for a period of 90 consecutive days or 120 days during any one year.

  • Estimated Number of PSUs That NameNumber of PSUs That Would Vest Upon Death of Executive Would Be Payable Upon Retirement of Executive(1)Rainwater .

  • Upon the Death of Executive, Executive’s heirs or assigns shall be entitled to (i) fifty percent (50%) of the annual Base Salary and (ii) on pro-rated amount of any and all outstanding Executive Shares that Executive is entitled to receive from the Effective Date to the date of Death (the “Earnings Entitlement”).

  • Upon the termination of the Executive's employment with the Company for any reason other than pursuant to subsection 5(a) (Termination by the Company for Cause) or subsection 5(l) (Death of Executive), the Company shall provide to the Executive outplacement services at the executive level (not to exceed $20,000 in the aggregate) for twelve (12) months following such termination of employment.

Related to Death of Executive

  • Death means only death resulting from compensable injury

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary (other than a termination for Cause) or termination of employment by a Participant Employee for Good Reason.

  • Termination for Just Cause means termination because of Executive’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Disability Termination means termination by the Company of the Executive’s employment by reason of the Executive’s incapacitation due to disability. The Executive will be deemed to be incapacitated due to disability if at the end of any month the Executive is unable to perform substantially all of the Executive’s duties under this Agreement in the normal and regular manner due to illness, injury or mental or physical incapacity, and has been unable so to perform for either (i) three consecutive full calendar months then ending, or (ii) 90 or more of the normal working days during the 12 consecutive full calendar months then ending. Nothing in this paragraph alters the Company’s obligations under applicable law, which may, in certain circumstances, result in the suspension or alteration of the foregoing time periods.

  • mental disability means one or more mental disorders, as defined in the most recent edition of the American Psychiatric Association's "Diagnostic and Statistical Manual of Mental Disorders", or a record of or regarding a person as having one or more such disorders;

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Accidental Death means death due to accident, where accident is a sudden, unforeseen and involuntary event caused by external and visible means

  • Termination for Good Reason means a Termination of Employment by Executive for a Good Reason.

  • Disability means total and permanent disability as defined in Section 22(e)(3) of the Code.

  • the Executive means the Health and Safety Executive;

  • Permanent Disability means the Executive’s inability to perform the essential functions of the Executive’s position, with or without reasonable accommodation, for a period of at least 120 consecutive days because of a physical or mental impairment.

  • Just Cause means:

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Disability retirement for plan 1 members, means the period

  • Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Constructive Termination means:

  • Executives has the meaning set forth in Section 12.2(a).

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.