EFFECT OF TERMINATION ATTRIBUTABLE TO DEATH OR DISABILITY. In the event Executive's employment is terminated due to Executive's death or disability, then: (a) Company shall pay Executive's accrued but unpaid Annual Salary and vacation time through the effective date of the termination, provided, however, that Company shall also pay to Executive or his estate one (1) years Salary at the Executive's then effective Annual Salary as set forth in paragraph 5(a); (b) Company shall pay to the Executive an Annual Bonus which shall be computed as the greater of the accrued but unpaid Annual Bonus, if any, or an amount which equals the average of Executive's Annual Bonus during the three (3) calendar years prior to the termination date; (c) Company shall reimburse Executive for any business expenses incurred prior to the effective date of the termination; (d) Executive (including Executive's heirs) shall be entitled to continue to participate in any employee benefit plans except to the extent provided in such plans for terminated participants, or as may be required by applicable law. (e) Pursuant to paragraph 5(e), Company shall forgive the payment of any and all loans made by Company to Executive. Company shall pay, or shall pay to Executive, an amount equal to any and all taxes, of any kind or nature, that are incurred by Executive as a result of the forgiveness of the loans. (f) Unless otherwise provided in the agreement memorializing them, the vesting conditions imposed on any stock options, warrants or other rights subject to vesting shall be accelerated and shall vest on the date of Executive's termination.
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EFFECT OF TERMINATION ATTRIBUTABLE TO DEATH OR DISABILITY. In the event Executive's employment is terminated due to Executive's death or disability, then:
(a) Company shall pay Executive's accrued but unpaid Annual Salary and vacation time through the effective date of the termination, provided, however, that Company shall also pay to Executive or his estate one (1) years Salary salary at the Executive's then effective Annual Salary as set forth in paragraph 5(a);
(b) Company shall pay to the Executive an Annual Bonus which shall be computed as the greater of the accrued but unpaid Annual Bonus, if any, or an amount which equals the average of Executive's Annual Bonus during the three (3) calendar years prior to the termination date;
(c) Company shall reimburse Executive for any business expenses incurred prior to the effective date of the termination;
(d) Executive (including Executive's heirs) shall be entitled to continue to participate in any employee benefit plans except to the extent provided in such plans for terminated participants, or as may be required by applicable law.
(e) Pursuant to paragraph 5(e), Company shall forgive the payment of any and all loans made by Company to Executive. Company shall pay, or shall pay to Executive, an amount equal to any and all taxes, of any kind or nature, that are incurred by Executive as a result of the forgiveness of the loans.
(f) Unless otherwise provided in the agreement memorializing them, the vesting conditions imposed on any stock options, warrants or other rights subject to vesting shall be accelerated and shall vest on the date of Executive's termination.
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