Termination of Service; Death Clause Samples

Termination of Service; Death. (a) In the event Optionee ceases to be a director of the Company at any time prior to expiration of the Option, for any reason other than his death, the unexercised portion of the Option may be exercised by Optionee for a period of ninety (90) days from the date of such cessation. (b) In the event of Optionee's death at any time prior to the expiration of the Option, the Unexercised portion of the Option may be exercised by the estate of Optionee, or by the person who acquired the right to exercise the Option by bequest or inheritance or by reason of the death of Optionee, at any time within twelve (12) months after the date of Optionee's death.
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Termination of Service; Death. Except as provided below, in the event that the Participant shall cease to be a director of the Company for any reason, the Participant may exercise this Share Option, but only to the extent this Share Option is vested and exercisable at the time the Participant ceases to be a director of the Company, until the earlier of (i) the three-month anniversary of the date the Participant ceases to be a director of the Company and (ii) the Final Exercise Date and, to the extent not exercised during such period, shall immediately terminate. In the event that the Participant shall cease to be a director of the Company due to death, the Participant’s estate or beneficiary or permitted transferee may exercise this Share Option, but only to the extent this Share Option is exercisable at the time of the Participant death, until the earlier of (i) the one-year anniversary of the date of such death and (ii) the Final Exercise Date and, to the extent not exercised during such period, shall immediately terminate.
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Termination of Service; Death. If the Holder dies while a Director, this Nonqualified Stock Option shall be exercisable by the Holder's legal representatives, legatees, or distributes for three (3) years following the date of the Holder's death to the extent this Nonqualified Stock Option is exercisable on the Holder's date of death, and thereafter this Nonqualified Stock Option shall terminate and cease to be exercisable.
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Termination of Service; Death. In the event of Participant’s Termination of Service due to death or upon death during the Participant’s period of Total Disability, the Options shall become fully exercisable by the Participant’s beneficiary and may be exercised at any time within one (1) year after the date of the Participant’s death (but not later than the Expiration Date). If the Participant dies following his or her Termination of Services for reasons other than Total Disability, the Participant’s beneficiary shall be entitled to exercise the Options, to the extent exercisable on the date of the Participant’s Termination of Service, during the same period that the Participant would have been entitled to exercise the Option if the Participant had not died.
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Termination of Service; Death. Except as provided below, in the event that the Optionee shall cease to be a director of the Company for any reason, the Optionee may exercise this Option, but only to the extent this Option is exercisable at the time the Optionee ceases to be a director of the Company, within six months after the date the Optionee ceases to be a director of the Company. In the event that the Optionee shall cease to be a director of the Company due to death, the Optionee’s beneficiary may exercise this Option, but only to the extent this Option is exercisable at the time of the Optionee’s death, within twelve months after the date of death. Notwithstanding the foregoing, this Option shall continue to be exercisable for up to five years following the Optionee’s cessation of service as a director of the Company, if the Optionee leaves the Board of Directors in good standing, as determined by the Board, and after serving a minimum of five consecutive full years as a director of the Company, but only to the extent this Option is exercisable at the time the Optionee ceases to be a director of the Company. Nothing in this Section shall permit the exercise of this Option following the expiration of its term.
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Related to Termination of Service; Death

  • Termination of Service (S) ViaCord and the Account Owner(s) may terminate each Service as provided in the applicable Exhibit. Termination of one Service will not terminate another Service, except as provided for in the event of non-payment for a Service. This Agreement will terminate when all Service(s) are completed or otherwise terminated.

  • Termination of Employment Due to Death or Disability 4.1. In the event of your termination of employment due to death or permanent disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)) during the Initial Term or the Additional Term, on the date of such termination each outstanding and unvested equity award held by you that, pursuant to its terms, vests solely based upon providing continued service to Skyworks, including, without limitation, stock options, restricted stock awards (including restricted stock unit awards), and performance-based equity awards that are earned but unissued, shall automatically become vested, exercisable, and issuable, and any forfeiture restrictions thereon shall immediately lapse, as applicable, in each case, with respect to one-hundred percent (100%) of that number of then-unvested shares underlying such equity award. 4.2. All outstanding stock options that are exercisable upon your termination of employment due to death or permanent disability (including any stock options that become vested and exercisable pursuant to Section 4.1) shall remain exercisable for a period of time expiring on the earlier of (a) the one (1) year anniversary of your termination of employment due to death or permanent disability, and (b) the final expiration date of such stock options as set forth in the applicable stock option agreement, subject to their other terms and conditions. 4.3. In the event that you hold a performance-based equity award that vests based upon the achievement of performance metrics and upon providing continued service to Skyworks and your termination of employment due to death or permanent disability occurs prior to the “measurement date” (i.e. the last day of the applicable performance period) for such award, then such award shall, as of the measurement date, (a) be earned as to the greater of (i) the “Target” level of shares for such award, or (ii) the number of shares that would have been earned pursuant to the terms of such award had you remained employed through the measurement date, and (b) automatically become vested, exercisable, and issuable, and any forfeiture restrictions thereon shall immediately lapse, as applicable, in each case, as of the measurement date, with respect to one-hundred percent (100%) of that number of then-unvested shares underlying such equity award that are earned pursuant to (a) above. 4.4. Subject to Section 12.4, any shares that are issued pursuant to Section 4.1 shall be issued to you (or to your estate, if applicable) as soon as practicable (but not more than sixty (60) days) after the date of your termination (or such later date as may be required by Section 12.2). Subject to Section 12.4, any shares that are issued pursuant to Section 4.3 shall be issued to you (or to your estate, if applicable) as soon as practicable (but not more than sixty (60) days) after the measurement date.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. (b) Executive shall be entitled to receive benefits under all short-term or long-term disability plans maintained by the Bank for its executives. To the extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits, Social Security disability benefits and the amount of Executive’s Base Salary for the longer of one (1) year following the termination of his employment due to Disability or the remaining term of this Agreement, which shall be payable in accordance with the regular payroll practices of the Bank. (c) The Bank shall cause to be continued non-taxable medical and dental coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to the termination of his employment based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) expiration of the remaining term of this Agreement; or (iv) Executive’s death. (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death in accordance with the regular payroll practices of the Bank for a period of one (1) year from the date of Executive’s death, and the Bank shall continue to provide non-taxable medical, and dental insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. Such payments are in addition to any other life insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

  • Termination of Services The Account Owner may act for all Clients to terminate enrollment in the DNA Guardian Program by executing ViaCord’s required documentation. However, once the Child reaches the age of majority, ▇▇▇▇▇▇▇ will follow the request of the Child.