Death. The Executive’s employment under this Agreement shall terminate immediately upon the Executive’s death, and the Company shall have no further obligations under this Agreement, except to pay to the Executive’s estate (or his beneficiary, as may be appropriate) # any Base Salary earned through his date of death, to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the year in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) by the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.
Death. The Executive’s employmentDeath of Executive. If Executive dies during the term of this Agreement, in addition to accrued but unpaid Base Compensation for services provided through the Date of Termination and payment for the value of any accrued, unused paid time off then-existing as of the Date of Termination, and a pro rata share of the Target Bonus for the fiscal year in which Executive dies, Company will be obligated to continue for twelve (12) months after the Date of Termination (defined in Section 5(f) below) to pay the Base Compensation payments under Section 3(a) of this Agreement shall(such continuation payments are referred to herein as the Death Benefit Package). Company may thereafter terminate immediately upon the Executive’s death, and the Company shall have no further obligations under this Agreement, exceptAgreement without additional compensation to pay to the Executive’Executives estate (or his beneficiary, as may be appropriate) # any Base Salary earned through his date of death,except to the extent theretofore unpaid, # a pro-rated Incentive Bonus Paymentthis Agreement or any plan or arrangement of Company provides for the year in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) by the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, allor continuation of the foregoing to be paid in the normal course for such payments and in accordance with the termsbenefits beyond termination of such plans.Executives employment.
Death.Retirement. The Executive’s voluntary termination of employment at or after attaining his Normal Retirement Date shall be treated as a retirement termination under this Agreement shall terminate immediatelyAgreement. Unless Section 5.7 is applicable, upon the Executive’s death, andsuch termination, the Company shall have no further obligations under this Agreement, except to pay to the Executive’s estate (or his beneficiary, as may be appropriate)Executive # any Base Salary earned through histhe date of death,the Executive’s retirement, to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the year in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirementretirement, incentive and other benefits earned and vested (if applicable) by the Executive as of the date of his deathretirement under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.
Death.
The5.01. In the event of Executive’s employment under this Agreement shall terminate immediately upondeath while an employee of the Executive’s death, and the Company shall have no further obligations under this Agreement, except to pay to theCompany, Executive’s estate (or his beneficiary, as may be appropriate)or designated beneficiaries shall receive # anypayments of Executive’s Base Salary earned through hisfor a period of three months after the date of death; # all unpaid amounts, as of the date of death, toin respect of any annual incentive awards for any calendar year ending before the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for thecalendar year in which such death occurs, which would have been payable had Executive remained in the Company’s employ until the date such annual incentive awards would otherwise have been paid, plus an amount equal to # Executive’s death occurs, equal to the product of # the actual Incentive Bonus Paymenttarget annual incentive awards for the calendar year of terminationin which his death occurs multiplied by # a fraction, the numerator of which is the number of completed days in thesuch calendar year of termination during which the Executive was employed byan employee of the CompanyCompany, and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment,365; and # such retirement and otherany death benefits earned and vested (if applicable) byprovided under the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments andprograms, in accordance with their terms. Notwithstanding the foregoing, if Executive’s employment terminates in a termination described in this [Section 5.01] during a calendar year before the terms of annual award opportunities for such plans.year shall have been established for the year of termination, then for purposes of this [Section 5.01], such target annual award opportunities shall be deemed to be those for the immediately preceding calendar year.
5.02. Nothing herein contained shall affect Executive's rights to any benefits that may accrue under the terms of any other Company death benefit plan or life insurance policy or programs by reason of Executive's death.
Death. TheIf the Executive dies during the Employment Period, this Agreement and the Executive’s employment under this Agreement shall terminate immediately upon the Executive’s death, andwith the Company shall have no furtherautomatically terminate and the Company’s obligations under this Agreement, except to pay to the Executive’s estate (or his beneficiary, as may be appropriate) # any Base Salary earned through his date of death,and to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the yearExecutive’s Qualified Beneficiaries shall be those set forth in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) by the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.Section 6 regarding severance compensation.
Death. The Executive’If the Executive's employment underis terminated by reason of the Executive's death during the Employment Period, this Agreement shall terminate immediately uponwithout further obligations to the Executive’Executive's death, and the Company shall have no further obligationslegal representatives under this Agreement, except to payother than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to the Executive’Executive's estate (or hisor beneficiary, as may be appropriate) # any Base Salary earned through his dateapplicable, in a lump sum in cash within 30 days of death,the Date of Termination. With respect to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment forprovision of Other Benefits, the yearterm Other Benefits as utilized in whichthis Section 6(b) shall include, without limitation, and the Executive’Executive's death occurs,estate and/or beneficiaries shall be entitled to receive, benefits at least equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employedmost favorable benefits provided by the Company and affiliated companies to the denominatorestates and beneficiaries of which is 365,peer executives of the Company and provided that such amount will be paidaffiliated companies under such plans, programs, practices and policies relating to death benefits, if any, as in effect with respect to other peer executives and their beneficiaries at any time during the normal course and shall only be paid120‑day period immediately preceding the Effective Date or, if more favorable to the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) byExecutive's estate and/or the ExecutiveExecutive's beneficiaries, as ofin effect on the date of histhe Executive's death under any employee benefit planwith respect to other peer executives of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such paymentsits affiliated companies and in accordance with the terms of such plans.their beneficiaries.
Death. The Executive’sIf Executive shall die during the term of his employment underhereunder, this Agreement shall terminate immediately uponimmediately. In such event, the Executive’s death, and the Companyestate of Executive shall have no further obligations under this Agreement, except to pay to the Executive’s estate (or his beneficiary, as maythereupon be appropriate) # any Base Salary earned through his date of death, to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the year in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to receive such amount if he had not terminated his employment,portion of Executive's base annual salary and # such retirement and other benefits earned and vested (if applicable) by the Executivereimbursement of expenses pursuant to paragraph 4 as ofhave been accrued through the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.death.
Death.
The5.01. In the event of Executive’s employment under this Agreement shall terminate immediately upondeath while an employee of the Executive’s death, and the Company shall have no further obligations under this Agreement, except to pay to theCompany, Executive’s estate (or his beneficiary, as may be appropriate)or designated beneficiaries shall receive # anypayments of Executive’s Base Salary earned through hisfor a period of three months after the date of death; # all unpaid amounts, as of the date of death, toin respect of any annual incentive awards for any calendar year ending before the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for thecalendar year in which such death occurs, which would have been payable had Executive remained in the Company’s employ until the date such annual incentive awards would otherwise have been paid, plus an amount equal [[Organization A:Organization]] # Executive’s death occurs, equal to the product of # the actual Incentive Bonus Paymenttarget annual incentive awards for the calendar year of terminationin which her death occurs multiplied by # a fraction, the numerator of which is the number of completed days in thesuch calendar year of termination during which the Executive was employed byan employee of the CompanyCompany, and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment,365; and # such retirement and otherany death benefits earned and vested (if applicable) byprovided under the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments andprograms, in accordance with their terms. Notwithstanding the foregoing, if Executive’s employment terminates in a termination described in this [Section 5.01] during a calendar year before the terms of annual award opportunities for such plans.year shall have been established for the year of termination, then for purposes of this [Section 5.01], such target annual award opportunities shall be deemed [[Organization A:Organization]] be those for the immediately preceding calendar year.
5.02. Nothing herein contained shall affect Executive's rights [[Organization A:Organization]] any benefits that may accrue under the terms of any other Company death benefit plan or life insurance policy or programs by reason of Executive's death.
Death. The Executive’s employment under this Agreement shall terminatewith the Company terminates without notice immediately upon the death of the Executive. Upon the death of the Executive, the Executive’s death, and the Company shall have no further obligations under this Agreement, except to paybeneficiary, designated in writing to the Executive’s estate (or his beneficiary, as mayCompany, will be appropriate) # anyentitled to receive continuing payments of the Base Salary earned through his datefor a period of death, to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the year in which the Executive’s death occurs, equal to the product of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) by the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.twelve months.
Death. TheTermination Due to Death: In the event Executive’s employment under this Agreement shall terminate immediately uponterminates during the Term as a result of Executive’s death, and the Company shall have no further obligations under this Agreement, except to pay to the Executive’s estate (orbeneficiary or beneficiaries shall receive any base salary and benefits accrued but unpaid as of his beneficiary, as may be appropriate) #death, plus any Base Salary earned through his dateamounts payable on account of death, to the extent theretofore unpaid, # a pro-rated Incentive Bonus Payment for the year in which the Executive’s death occurs, equalpursuant to the productany other plan or program of # the actual Incentive Bonus Payment for the year of termination multiplied by # a fraction, the numerator of which is the number of completed days in the year of termination during which the Executive was employed by the Company and the denominator of which is 365, and provided that such amount will be paid in the normal course and shall only be paid if the Executive would have become entitled to such amount if he had not terminated his employment, and # such retirement and other benefits earned and vested (if applicable) by the Executive as of the date of his death under any employee benefit plan of the Company in which the Executive participates, including without limitation all vested benefits due under the Restoration Plan and other retirement plans, all of the foregoing to be paid in the normal course for such payments and in accordance with the terms of such plans.[[Corporate Group:Organization]].
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.