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.

  • 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.

  • 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”).

  • 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.

  • In the event that Executive is eligible to receive severance wage payments under Section 5.3 (Disability), Section 5.4 (Death of Executive), Section 5.6 (Termination Without Cause) or Section 8.6.3 (Good Reason Termination Following Change of Control) hereof, Company shall make equal installment payments of such severance in accordance with Section 5.1.1, subject to the 6-month delay rule of Section 5.1.2.

  • 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.

  • Termination by Executive due to Material Breach of the Agreement by the Company, or due to the Death of Executive.

  • Upon the Death of Executive, Executive’s heirs or assigns shall be entitled to (i) fifty percent (50%) of the 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 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”).

Related to Death of Executive

  • Death means death resulting from an injury or occupational disease;

  • 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.

  • Qualifying Termination of Employment means a Participant’s Termination of Employment (i) by the Company without Cause or (ii) by the Participant with or without Good Reason or by reason of Retirement.

  • 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.

  • Child with a disability means a child who, by reason of any of the following, needs special education and related services:

  • 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 the Employee voluntarily resigns after the occurrence of any of the following (i) without the Employee’s express written consent, a material reduction of the Employee’s duties, title, authority or responsibilities, relative to the Employee’s duties, title, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to Employee of such reduced duties, title, authority or responsibilities; provided, however, that a reduction in duties, title, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Senior Vice-President of a business unit of the Company remains as such following a Change of Control) shall not by itself constitute grounds for a “Voluntary Termination for Good Reason;” (ii) without the Employee’s express written consent, a material reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) a reduction by the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the aggregate level of employee benefits, including bonuses, to which the Employee was entitled immediately prior to such reduction with the result that the Employee’s aggregate benefits package is materially reduced (other than a reduction that generally applies to Company employees); (v) the relocation of the Employee to a facility or a location more than thirty-five (35) miles from the Employee’s then present location, without the Employee’s express written consent; (vi) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 7(a) below; or (vii) any act or set of facts or circumstances which would, under California case law or statute constitute a constructive termination of the Employee.

  • 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 disability means a physical or mental condition that

  • 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.

  • Pregnancy disability means a pregnancy-related medical condition or miscarriage.

  • 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 means termination because of: (1) Executive's personal dishonesty, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or similar offenses), final cease and desist order or material breach of any provision of this Agreement which results in a material loss to the Institution or the Holding Company, or (2) Executive's conviction of a crime or act involving moral turpitude or a final judgement rendered against Executive based upon actions of Executive which involve moral turpitude. For the purposes of this Section, no act, or the failure to act, on Executive's part shall be "willful" unless done, or omitted to be done, not in good faith and without reasonable belief that the action or omission was in the best interests of the Institution or its affiliates. Notwithstanding the foregoing, 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 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, 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. During the period beginning on the date of the Notice of Termination for Cause pursuant to Section 8 hereof through the Date of Termination, stock options and related limited rights granted to Executive under any stock option plan shall not be exercisable nor shall any unvested awards granted to Executive under any stock benefit plan of the Institution, the Holding Company or any subsidiary or affiliate thereof, vest. At the Date of Termination, such stock options and related limited rights and any such unvested awards shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such 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.

  • Disability/Disabled means because of Injury or Sickness you are unable to perform the material duties of your Regular Occupation, or are receiving disability benefits under the Employer's plan, during the initial 9 months of Disability. Thereafter, you must be unable to perform all of the material duties of any occupation which you may reasonably become qualified based on education, training or experience, or are subject to the terms of a Rehabilitation Plan approved by the Insurance Company.