Death of Xxxxxx. Xxxxxx’x death shall terminate the Term and Xxxxxx’x employment and shall terminate all of Xxxxxx’x rights to all salary, compensation and fringe benefits, except for Accrued Obligations, effective as of the date of such death.
Death of Xxxxxx. In the event that Xxxxxx should die during the Term, this Agreement and all benefits hereunder shall terminate. Such termination shall not affect any rights which Xxxxxx, his spouse or estate may have at the time of his death pursuant to any insurance or other death benefit, retirement, pension, stock or option award or any other benefit plan or arrangement with the Company.
Death of Xxxxxx. This Agreement and any amendments hereto shall terminate automatically in the event of Xxxxxx=s death before the end of the Term or any extensions of the Term; provided, however, that the University shall be responsible to pay all amounts of compensation earned by Xxxxxx but which remain unpaid as of the date of Xxxxxx=s death.
Death of Xxxxxx. Subject to paragraph 9 of this Agreement: on death of the Holder, CIBC will pay in accordance with the latest dated Instrument it has notice of in its records upon receiving satisfactory evidence of the Holder's death and any other documents which CIBC may require and CIBC will be discharged upon such payment. CIBC may delay payment for any period it may determine in its absolute discretion if it believes that a delay is required or advisable to determine the proper recipient of the Plan Proceeds or under any applicable law. CIBC will not be liable for any loss caused by a delay. If CIBC receives more than one Instrument or evidence of it, satisfactory to CIBC in its sole discretion, CIBC will pay in accordance with the Instrument with the most recent execution date. A designated successor holder or Beneficiary who disclaims or at law is treated as having disclaimed the interest in the Plan arising on death of the Holder will be deemed to have predeceased the Holder. If more than one Beneficiary was designated, the Plan Proceeds will be divided among those of the Beneficiaries who survive the Holder, in the percentage share specified by the Holder (if no percentage was specified, the Plan Proceeds will be divided equally); should any Beneficiary predecease the Holder, the percentage share of the deceased Beneficiary will be divided equally among the Beneficiaries who survive the Holder; if only one of the Beneficiaries survives the Holder, that Beneficiary will receive the entire Plan Proceeds. If no successor holder or Beneficiary is designated, or if the designated successor holder or all Beneficiaries die before the Holder, the Plan Proceeds will be paid to the Estate Representative. CIBC will only change the name of the Plan into the name of the designated successor holder or make payments from the Plan to the designated successor holder or pay the Plan Proceeds to the Beneficiary or Beneficiaries or the Estate Representative, as applicable, if it receives satisfactory evidence of death and any other documents it may require, including letters probate or similar documents, in order to establish that the Holder did not subsequently revoke or amend the designation of successor holder or Beneficiary in such documents. CIBC may also require proof satisfactory to it that the designated successor holder was the Spouse/Commonlaw Partner of the Holder at the time of the Holder's death.
Death of Xxxxxx. Cohron's death shall terminate the Term and Cohron's employment and shall terminate all of Cohron's rights to all salary, compensation and fringe benefits effective as of the date of such death.
Death of Xxxxxx. In the event of Xxxxxx'x death during the term of Xxxxxx'x employment with the Company, the Company shall pay to Xxxxxx'x estate the accrued and unpaid portion of Xxxxxx'x specified salary and additional compensation (including without limitation, Xxxxxx'x vested stock options, car allowance payments and expense reimbursements), if any.
Death of Xxxxxx. In the event that Xxxxxx should die during the Term, Xxxxxx’x employment under this Agreement shall be deemed terminated. Such termination shall not affect any rights that Xxxxxx, his spouse or estate may have at the time of his death pursuant to any insurance or other death benefit, retirement, pension, stock or option award or any other benefit plan or arrangement with the Company. Upon the death of Xxxxxx, the Company shall pay to Xxxxxx’x estate the following: a lump sum cash payment of accrued but unpaid base salary and accrued but unused vacation; annual bonus, if any, prorated to the date of termination; and continued health care benefits for Xxxxxx’x spouse and dependents for a period of two (2) years after the death of Xxxxxx.
Death of Xxxxxx. Upon the death of Xxxxxx, the Corporation shall purchase all of the Shares held by Xxxxxx and shall so direct the executor or administrator of Xxxxxx'x estate. The Shares shall be purchased at the Purchase Price and on the terms as set forth in Sections 8 and 9 hereof. If the Corporation is unable to perform its obligations under this Section 6.2, the Corporation shall assign its rights and obligations to Xxxxxxx who may exercise such rights and perform such obligations of the Corporation with respect hereto.
Death of Xxxxxx. The death of Xxxxxx shall terminate this Agreement provided, however, that the Company's obligation to pay the Salary described in Section 3.1 shall survive termination and continue through the date on which the Term would have naturally ended pursuant to Section 1.0 except for such early termination. Additionally, the following obligations shall survive termination and the Company shall: (i) timely pay any statements or bills for expenses incurred by Xxxxxx prior to the time of his death as is described at Section 3.3 above; (ii) disburse to Xxxxxx'x heirs or estate any executive bonus then due and owing Xxxxxx pursuant to Section 3.4 above; and (iii) allow Xxxxxx'x heirs or estate to exercise, according to the terms thereof, any stock options previously granted, granted by this Agreement pursuant to Section 3.5 above, or that may subsequently be granted by the Company.
Death of Xxxxxx. In the event of the death of Xxxxxx during the term hereof, the Company shall pay to Xxxxxx'x spouse, commencing on the first day of the month following his death and continuing for a period of twelve (12) months thereafter, benefits equal to the monthly installments of Salary which was then being paid to Xxxxxx pursuant to Section 4 herein. Immediately following such one-year period, the Company shall commence the payment of monthly benefits to Xxxxxx'x spouse equal in amount to one-fourth (1/4) of the monthly installments of Salary which was being paid to Xxxxxx at the time of his death under Section 4 herein, which monthly benefits shall be paid for a period of twenty (20) years or until the death of Xxxxxx'x spouse, whichever occurs first. In addition, the Company shall continue at all times to offer and provide health insurance coverage to Xxxxxx'x spouse, in accordance with the plans, programs, practices and policies provided by the Company under the terms of this Agreement at the time of Xxxxxx'x death, until the death of Xxxxxx'x spouse, except to the extent such coverage is or otherwise becomes available to Xxxxxx'x spouse under the Medicare program of benefits.
