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Death Benefits
Death Benefits contract clause examples
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Death Benefits Under USERRA. In the case of a Participant who dies while performing qualified military service as defined in Code [Section 414(u)], the survivors of the Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan had the Participant resumed and then terminated employment on account of death. Moreover, the Plan will credit the Participant’s qualified military service as service for vesting purposes, as though the Participant had resumed employment under USERRA immediately prior to the Participant’s death.

Benefits Payable Upon Death. In the event that the Term terminates pursuant to Section 3.2(c), (i) the Bank will pay to Executive’s surviving spouse or, if none, his estate, a lump-sum amount equal to Executive’s Standard Termination Payments within sixty (60) days of such termination of employment and # death benefits, if any, under the Bank’s employee benefit plans will be paid to Executive’s beneficiaries as properly designated in writing by Executive.

Benefits upon Death/Disability. During the Term, if the Executive’s employment is terminated on account of death under Section 4(a) or Disability under Section 4(b), all time-based equity awards (including the Initial Equity Award and any awards originally subject to performance vesting conditions that remain subject to time-based vesting after satisfaction of such performance conditions) held by the Executive on the Date of Termination shall automatically vest and become exercisable or nonforfeitable and all performance-based equity awards held by the Executive on the Date of Termination which the Executive would have vested had he remained employed through the end of the performance period in respect of each such award shall become vested as of the end of such performance period(s) based on the Company’s actual performance through the end of such performance period(s) but such amount shall be further prorated in the manner set forth in the applicable award agreement.

Death. In the event that the Participant dies while in the employment or other service of the Company, all Restricted Stock Units which have not vested on the date of death shall immediately vest.

Death. Executive’s employment hereunder shall terminate upon Executive’s death.

Death. If the Executive dies during the term of this Agreement, the Company shall continue to pay to the Executive’s estate an amount equal to the Executive’s then current Base Salary for one month after the Executive’s death with such payments to be made on the same periodic dates as salary payments would have been made to the Executive had he not died. In addition, the Company shall pay to the estate of the Executive within 60 days of the Executive’s death, any unpaid compensation or benefits, including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the end of the month in which his death occurs. In addition, upon the death of the Executive during the term of this Agreement, all of Executive’s unvested equity awards that were granted to the Executive by the Company as compensation and that have not previously been forfeited, exercised or settled will immediately vest upon the Executive’s death notwithstanding any provision in an equity award agreement to the contrary.

Death. Your Award is transferable by will and by the laws of descent and distribution. At your death, vesting of your Award will cease and your executor or administrator of your estate shall be entitled to receive, on behalf of your estate, any Common Stock or other consideration that vested but was not issued before your death.

Death. If the Executive dies during the Employment Period while employed, this Agreement will terminate without any further obligation on the part of the Company under this Agreement, other than for # payment of the Accrued Obligations (which shall be paid to the Executive’s beneficiary designated in writing or his/her estate, as applicable, in a lump sum cash payment within thirty (30) days of the date of death); # the timely payment of the Welfare Continuance Benefit to the Executive’s spouse and other dependents; and # the timely payment of all death and retirement benefits pursuant to the terms of any plan, policy or arrangement of the Company and its affiliated companies. If the Executive dies after the Date of Termination, but prior to the expiration of the Welfare Continuance Benefit period, the Executive’s spouse and other dependents will be entitled to the remaining payment of the Welfare Continuance Benefit due to the Executive under Section 6(a)(iii).

Death. Executive’s employment shall terminate immediately in the event of Executive’s death.

Death. Your Award is transferable by will and by the laws of descent and distribution. At your death, vesting of your Award will cease and your executor or administrator of your estate will be entitled to receive, on behalf of your estate, any Common Stock or other consideration that vested but was not issued before your death.

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