Effect of Death. Resignation, etc. of a Trustee..................8 3. Powers...........................................................9 4. Payment of Expenses by the Trust................................12 5.
Effect of Death. If the termination of the Participant’s employment occurs as a result of the Participant’s death, vesting shall be accelerated and all of the restrictions imposed on the Restricted Shares by this Agreement shall lapse immediately.
Effect of Death. In the event of the Executive's death after his termination of employment by the Company under this Paragraph 5(b), the benefits payable under (i) and (ii) of this Paragraph 5(b) shall continue for a period of twelve (12) months, or, if shorter, until the end of the Term of this Agreement; provided, however, such payments will be paid in a lump sum payment within 60 days following the Executive's death, to the Executive's surviving spouse, or, if none, to the Executive's estate. In addition, in the event of Executive's death, any dependent coverage in effect under (iii) of this Paragraph 5(b) shall continue at the Company's expense, for a period of 12 months, or, if shorter, until the end of the Term of this Agreement.
Effect of Death. If the Participant dies before the Options expire or have been exercised with respect to all of the shares of Common Stock subject to the Options, any portion of the Options not previously exercisable under Section 2 shall become exercisable, and the Participant’s executor, administrator, or any person to whom the Options may be transferred by the Participant’s will or by the laws of descent and distribution, shall have the right to (i) exercise the Options, to the extent not previously exercised, at any time prior to the first anniversary of the date of death, but in no event later than ___, 20___, and (ii) to receive a cash payment of any balance then credited to the Participant’s Dividend Equivalent Rights account pursuant to Section 8 above. For this purpose, the terms of this Agreement shall be deemed to apply to such person as if he or she was the Participant.
Effect of Death. If Executive dies during the term of this Agreement, but prior to any renewal period which has not commenced at least thirty (30) days prior to the date of death, compensation payments shall continue and shall be made payable to Executive’s widow, or, if Executive’s widow predeceases Executive, then to Executive’s estate, in equal monthly installments. The total of these payments shall equal the Compensation and bonuses provided for in Paragraph 4(a) above. Such payments shall commence in the month following the date of Executive’s death.
Effect of Death. Resignation, etc. of a Trustee . . . . . . 9 3. Powers. . . . . . . . . . . . . . . . . . . . . . . . . . . 10 4. Payment of Expenses by the Trust. . . . . . . . . . . . . . 14 5.
Effect of Death. In the event of the Executive’s death after he becomes entitled to payments or benefits hereunder, the payments and benefits shall be continued to his or her spouse for the remainder of the applicable 36-, 24- or 12-month period. If the Executive is not married, the payments and benefits shall cease on his or her date of death.
Effect of Death. If the Participant dies before the Options expire or have been exercised with respect to all of the shares of Common Stock subject to the Options, any portion of the Options not previously exercisable under Section 2 shall become exercisable, and the Participant’s executor, administrator, or any person to whom the Options may be transferred by the Participant’s will or by the laws of descent and distribution, shall have the right to exercise the Options, to the extent not previously exercised, at any time prior to the first anniversary of the date of death, but in no event later than , 20 . For this purpose, the terms of this Agreement shall be deemed to apply to such person as if he or she was the Participant.
Effect of Death. The benefits payable or to be provided under this Agreement shall not cease in the event of the Executive's death and such benefits shall be payable to his designated beneficiary (in accordance with Section 7.2 hereof) or, if none, the legal representative of Executive's estate.
Effect of Death. In the event Executive’s employment is terminated by reason of death, this Agreement shall terminate without further obligations of Employer to Executive (or your heirs or legal representatives) under this Agreement, other than for payment of: (i) any unpaid base salary (as set forth in Section 4.1 hereof) through the date of termination; (ii) the amount of any Target Bonus prorated through the date of termination, calculated on the basis of 100% achievement of target; (iii) all compensation previously deferred by you; (iv) any accrued vacation and/or sick leave pay; and (v) any amounts due pursuant to the terms of any applicable welfare benefit plan. All of the foregoing amounts (other than any prorated bonus compensation) shall be paid to Executive’s estate or beneficiary, as applicable, in a lump sum cash payment within thirty (30) days after the date of termination or earlier as required by applicable law.
