Death While an Employee Clause Samples

Death While an Employee. In the event that Grantee dies while an employee of the Corporation and prior to the regularly scheduled award date for non-exceptional circumstances in early 2013 and the Performance Units remain outstanding pursuant to Section 4.2, PNC will present information to the Committee for purposes of this Section 5.1 on the following basis: (i) the applicable performance measurement date will be the earlier of the last day of the calendar year in which the death occurred and December 31, 2012; (ii) the applicable overall Performance Period will be the period beginning on April 1, 2010 and ending on the December 31st that is the applicable performance measurement date, and will consist of the partial year covered annual performance period from April 1, 2010 through December 31, 2010 and, if the applicable performance measurement date is later than December 31, 2010, the one or two full calendar year covered annual performance periods for 2011 or for 2011 and 2012, as the case may be, in that period; (iii) the applicable Final Potential Payout Percentage will be the percentage that is the weighted average of the Annual Potential Payout Percentages for the one, two or three covered annual performance periods, as the case may be, in the applicable overall Performance Period specified above, calculated as set forth in Section 15.24, but in no event greater than 200%; (iv) the applicable Calculated Maximum Potential Payout Amount will be the number of Share Units equal to (x) the applicable Final Potential Payout Percentage of the Adjusted Target Share Units, with adjustments calculated through the December 31st that is the applicable performance measurement date, then (y) prorated (as defined in Section 15.36) based on the number of full quarters in the applicable overall Performance Period specified above, including through December 31st of the year of death if prior to 2013; and (v) the scheduled award-determination period will occur during the year immediately following the year in which ▇▇▇▇▇▇▇ died (i.e., early in 2011, 2012, or 2013, as the case may be) unless Grantee dies after December 31, 2012 but prior to the award date, in which case the scheduled award-determination period will occur in 2013.
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Death While an Employee. If ▇▇▇▇▇▇▇ died while an employee of the Corporation and a Final Award determination (either to award a specified amount or not to authorize any award) was made by the Committee pursuant to Section 5.2 prior to the Change of Control, no further or different award determination will be made pursuant to this Section 6.1. In the event that ▇▇▇▇▇▇▇ died while an employee of the Corporation and qualified for consideration for an award pursuant to Section 4.2 but the Committee had not yet made an award determination (either to award a specified amount or not to authorize any award) with respect to Grantee at the time the Change of Control occurs such that Grantee remains eligible for an award, then the scheduled award-determination period will occur as soon as practicable after the occurrence of the Change of Control, and the amount of Grantee’s Final Award (payable to ▇▇▇▇▇▇▇’s legal representative, as determined in good faith by the Committee, in accordance with Section 10) will be determined on the following basis, as applicable. (1) If ▇▇▇▇▇▇▇ died in the calendar year prior to the year in which the Change of Control occurs but the Committee had not yet made an award determination (either to award a specified amount or not to authorize any award) with respect to Grantee at the time the Change of Control occurs, ▇▇▇▇▇▇▇’s Final Award will be in the amount of the Calculated Maximum Potential Payout Amount determined in the same manner as set forth in Section 5.1(b) but with no Committee discretion to reduce the amount of the award. (2) If ▇▇▇▇▇▇▇ died prior to but in the same calendar year as the Change of Control, ▇▇▇▇▇▇▇’s Final Award will be in the amount of the award that would have been payable to Grantee pursuant to the calculations set forth in Section 6.1(a), but substituting a Part B Award of zero Share Units for any Part B Award amount calculated pursuant to that section, had Grantee not died but had been an employee of the Corporation as of the end of day immediately preceding the day the Change of Control occurred.
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Death While an Employee. If Grantee dies while an employee of the Corporation and prior to the Compensation Committee-determined Award Date, the 2012 Performance Units will remain outstanding and Grantee will be eligible for consideration for a prorated award calculated in accordance with Section 5.1(b), with an applicable performance measurement date (as defined in Section 5.1) of the earlier of the last day of the calendar year in which the death occurred and December 31, 2014, and payable in accordance with Section 7. Any such award will be subject to Compensation Committee determination pursuant to Section 5.2, and may be further reduced or eliminated by the Compensation Committee in the exercise of its negative discretion unless such determination occurs during a Change of Control Coverage Period (as defined in Section 14.15) or a Change of Control has occurred. In the event that a Change of Control occurs after the time Grantee died but prior to the time the Compensation Committee makes an award determination with respect to Grantee (either to award a specified amount or not to authorize any award), an award will be deemed to be made pursuant to Section 6, calculated as specified in Section 6.1(b) and payable in accordance with Section 7.
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Death While an Employee. In the event that Grantee dies while an employee of the Corporation and prior to the regularly scheduled award date for non-exceptional circumstances in early 2011 and the Grant remains outstanding pursuant to Section 4.2, PNC will present information to the Committee for purposes of this Section 5.1 on the following basis: (i) the applicable performance measurement date will be the earlier of the last day of the year in which the death occurred and December 31, 2010; (ii) the applicable Performance Period will be the period commencing on January 1, 2008 and ending on the applicable performance measurement date, and will consist of the one, two or three full years, as the case may be, in that period; (iii) the applicable Final Potential Payout Percentage will be a Limited-Period Final Potential Payout Percentage and will be the percentage that is the average of the Annual Potential Payout Percentages for the full years in the applicable Performance Period specified above, but in no event greater than 200%; (iv) the applicable Calculated Maximum Potential Payout Amount will be the number of Share Units equal to (x) the applicable Limited-Period Final Potential Payout Percentage of the Target Share Units, then (y) prorated (as defined in Section 14.40) based on the number of full years in the applicable Performance Period specified above, including the year of death if prior to 2011; and (v) the scheduled award-determination period will occur during the year immediately following the year in which Gr▇▇▇▇▇ ▇ied (i.e., early in 2009, 2010, or 2011, as the case may be) unless Grantee dies after December 31, 2010 but prior to the award date, in which case the scheduled award-determination period will occur in 2011.
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Death While an Employee. If Grantee dies while an employee of the Corporation and prior to the Committee-determined Award Date, the Grant will remain outstanding and Grantee will be eligible for consideration for a prorated award calculated in accordance with Section 5.1(b), with an applicable performance measurement date (as defined in Section 5.1) of the earlier of the last day of the year in which the death occurred and December 31, 2010, and with adjustments to Adjusted Target Share Units calculated through that December 31st, and payable in accordance with Section 7. Any such award will be subject to Committee determination pursuant to Section 5.2, and may be reduced or eliminated by the Committee in the exercise of its negative discretion unless such determination occurs during a CIC Coverage Period (as defined in Section 15.11). In the event that a Change in Control occurs prior to the time the Committee makes an award determination with respect to Grantee (either to award a specified amount or not to authorize any award), an award will be deemed to be made pursuant to Section 6, calculated as specified in Section 6.1(b) and payable in accordance with Section 7.
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Death While an Employee. If Employee’s employment by the Company is terminated as a result of the occurrence of Employee’s death, the Company shall pay to Employee’s estate (i) vacation pay (for earned but unused vacation), (ii) the compensation and benefits specified in Section 2(a) through December 31, 2004 and the payment specified in Section 2(b) (to the extent not previously paid), (iii) the bonus payable under Section 2(d) with respect to any transaction for which a definitive agreement was signed prior to Employee’s death (contingent on closing of such transaction) and (iv) any death benefits available under any Company plan or policy. Following December 31, 2004, the Company shall continue to provide employee benefits and COBRA coverage on the terms set forth in Section 3(a).
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Death While an Employee. If Grantee dies while an employee of the Corporation and prior to the Committee-determined Award Date, the Grant will remain outstanding and Grantee will be eligible for consideration for a prorated award calculated in accordance with Section 5.1(b), with an applicable performance measurement date (as defined in Section 5.1) of the earlier of the last day of the year in which the death occurred and December 31, 2010, and payable in accordance with Section 7. Any such award will be subject to Committee determination pursuant to Section 5.2, and may be reduced or eliminated by the Committee in the exercise of its negative discretion unless such determination occurs during a CIC Coverage Period (as defined in Section 14.11). In the event that a Change in Control occurs prior to the time the Committee makes an award determination with respect to Grantee (either to award a specified amount or not to authorize any award), an award will be deemed to be made pursuant to Section 6, calculated as specified in Section 6.1(b) and payable in accordance with Section 7.
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Related to Death While an Employee

  • An Employee (other than a casual Employee) called for jury service during ordinary working hours will be reimbursed by the Employer an amount equal to the difference between the amount paid by the Court and the amount of Ordinary Rate he/she would have received for the ordinary time hours for which the Employee’s attendance at the Court was required up to a maximum of 10 days’ pay.

  • Where an Employee (a) at the maximum rate of a salary range is promoted, a new anniversary date is established based upon the date of promotion; (b) at a rate less than the maximum in the salary range is promoted and receives a promotional increase: (1) greater than a one-step increase, a new anniversary date based on the date of promotion is established; (2) of one step or less, the existing anniversary date is retained. 7.2.1 Where the duties of an employee are changed as a result of reorganization or reassignment of duties and the position is reclassified to a class with a lower maximum salary, an employee who occupies the position when the reclassification is made is entitled to salary progression based on merit to the maximum salary of the higher classification including any revision of the maximum salary of the higher classification that takes effect during the salary cycle in which the reclassification takes place. 7.2.2 An employee to whom Article 7. 2.1 applies is entitled to be appointed to the first vacant position in his or her former class that occurs in the same administrative district or unit, institution or other work area in the same ministry in which he or she was employed at the time the reclassification was made.

  • Death of an Employee All rights to accident pay will cease on the death of an Employee.

  • Leave When Employment Terminates When the employment of an employee is terminated for any reason, the employee or his/her estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his/her employment.

  • Death of Employee Any distribution or delivery to be made to the Employee under this Agreement will, if the Employee is then deceased, be made to the administrator or executor of the Employee’s estate. Any such administrator or executor must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.