Payments Due Upon Termination Due to Death Clause Samples

Payments Due Upon Termination Due to Death. If Executive’s employment is terminated due to death pursuant to Section 4(c) above, the Company shall have no obligation to Executive, except: (i) the Company shall pay Executive any Accrued Compensation; (ii) the Company shall pay to the beneficiary(ies) identified in writing by Executive from time to time an amount equal to two (2) times Executive’s then current annual Base Salary, in 24 equal monthly installments commencing one month after the date of Executive’s death; and (iii) Executive’s spouse and dependents shall continue to be covered under the Company’s group health plan pursuant to Section 3(e)(i) above, at active employee rates for dependent coverage, for two (2) years after the date of Executive’s death, and, thereafter, Executive’s spouse and dependents shall be eligible to exercise their rights to COBRA coverage with respect to such group health plan at their expense.
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Payments Due Upon Termination Due to Death. If Executive’s employment is terminated due to death pursuant to Section 4(c) above, the Company shall have no obligation to Executive, except: (i) the Company shall pay Executive any Accrued Compensation; (ii) the Company shall pay to the beneficiary(ies) identified in writing by Executive from time to time an amount equal to (A) two times Executive’s then current annual Base Salary, plus (B) the Pro Rata Bonus (if any), in 24 equal monthly installments commencing one month after the date of Executive’s death; and (iii) Executive’s spouse and dependents shall continue to be covered under the Company’s group health plan pursuant to Section 3(e)(i) above, at active employee rates for dependent coverage, for two (2) years after the date of Executive’s death, and, thereafter, Executive’s spouse and dependents shall be eligible to exercise their rights to COBRA coverage with respect to such group health plan at their expense.
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Payments Due Upon Termination Due to Death. If Executive’s employment is terminated due to death pursuant to Section 2(c) above, the Company shall have no obligation to Executive, except: (i) the Company shall pay Executive any Accrued Compensation; (ii) any Long-term Incentive Plan awards (or any successor thereto, including any equity-based, or long-term incentive compensation awards) granted to the Executive by the Company that vested prior to such termination of employment will be governed by the terms of such awards. Any such awards granted to the Executive by the Company that are unvested on termination of employment will expire and be forfeited, unless otherwise provided in such awards; (iii) a single cash payment in an amount equal to the annual incentive bonus award for the year of termination, pro rated for the number of days actually employed in the applicable performance period, determined based on actual performance, subject to any negative discretion applied to senior executives in general, and paid when other participants in the annual bonus program are paid; and (iv) any annual bonus earned and unpaid from the prior year, determined based on actual performance, subject to any negative discretion applied to senior executives in general, and paid when other participants in the annual bonus program are paid.
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Payments Due Upon Termination Due to Death. If the Agreement is terminated due to death pursuant to paragraph 4(c) above, the Company shall have no obligation to Executive, except the Company shall pay Executive's estate or his beneficiaries: (i) a lump sum payment equal to two times Executive's then current annual base salary; (ii) any accrued and unpaid Base Salary and accrued and unused vacation pay through the date of Executive's death, and any other monies owed to or accrued for the benefit of Executive by the Company, including monies owed pursuant to any plans or benefits provided by or through the Company in which Executive was then participating at the time of death; and (iii) all previously unvested stock options, stock appreciation tights and stock performance rights then owned by Executive shall immediately vest and become fully exercisable as of the date of termination for a period of one year. Notwithstanding the foregoing, in the event of termination of the Agreement due to Executive's death, Executive's spouse shall be entitled to continue to be covered (or have the right to maintain her own coverage) at the Company's expense for health and medical insurance on the same basis as prior to the termination until Executive's spouse attains age 65.
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Payments Due Upon Termination Due to Death. If Executive’s employment is terminated due to death pursuant to Section 4(c) above, the Company shall have no obligation to Executive, except: (i) the Company shall pay Executive any Accrued Compensation and any 2013 Special Bonus or 2014 Special Bonus that is payable under Section 3(b) but has not yet been paid; (ii) the Company shall pay to the beneficiary(ies) identified in writing by Executive from time to time an amount equal to two (2) times Executive’s then current annual Base Salary, in 24 equal monthly installments commencing one month after the date of Executive’s death; (iii) if the date of termination is before March 31, 2014, the Company shall pay the Pro-Rated Special Bonus to the beneficiary(ies) identified in writing by Executive from time to time within 60 days of Executive’s death; and (iv) Executive’s spouse and dependents shall continue to be covered under the Company’s group health plan pursuant to Section 3(e)(i) above, at active employee rates for dependent coverage, for two (2) years after the date of Executive’s death, and, thereafter, Executive’s spouse and dependents shall be eligible to exercise their rights to COBRA coverage with respect to such group health plan at their expense.
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Payments Due Upon Termination Due to Death. If Executive’s employment is terminated due to death pursuant to Section 4(c) above, the Company shall have no obligation to Executive, except: (i) the Company shall pay Executive any Accrued Compensation and the 2012 Bonus to the extent not already paid; (ii) the Company shall pay to the beneficiary(ies) identified in writing by Executive from time to time an amount equal to one and one-half (1.5) times Executive’s then current annual Base Salary, in eighteen (18) equal monthly installments commencing one month after the date of Executive’s death; and (iii) Executive’s spouse and dependents shall continue to be covered under the Company’s group health plan pursuant to Section 3(e)(i) above, at active employee rates for dependent coverage, for eighteen (18) months after the date of Executive’s death, and, thereafter, Executive’s spouse and dependents shall be eligible to exercise their rights to COBRA coverage with respect to such group health plan at their expense.
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Related to Payments Due Upon Termination Due to Death

  • Termination Due to Death If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect.

  • Termination Due to Death or Disability The expiration of one (1) year from the date of the death of the Optionee or cessation of an Optionee’s employment or contractual relationship by reason of disability (as defined in Section 5.1(g) of the Plan). If an Optionee’s employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee’s rights under such Option shall pass by the Optionee’s will or by the laws of descent and distribution.

  • Termination Due to Retirement Upon termination of the Executive based on Retirement, no amounts or benefits shall be due the Executive under this Agreement, and the Executive shall be entitled to all benefits under any retirement plan of the Company and other plans to which the Executive is a party. Termination of the Executive’s employment based on “Retirement” shall mean termination of the Executive’s employment in accordance with a retirement policy established by the Board with the Executive’s consent.

  • Termination Due to Death, Disability or Retirement In the event the Optionee’s employment with the Company and all Subsidiaries is terminated by reason of death, Disability or Retirement, this Option will remain exercisable, to the extent exercisable as of the date of such termination, for a period of one year after such termination (but in no event after the Time of Termination).

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.