Death and Disability Benefit Sample Clauses
Death and Disability Benefit. In the event of the Executive's death prior to the end of the Employment Term, the Executive's estate or his designated beneficiary shall be entitled to receive the Executive's Annual Base Salary for the balance of the Employment Term, with such balance to be paid incrementally in accordance with the Company's normal payroll practices for current employees. Except as provided in Section 6(a), upon the Executive's death or disability, the 62,461 RSUs granted in 2006 shall vest notwithstanding anything in Section 4(c) to the contrary. The 60,000 performance-based RSUs granted in 2006 shall only vest if the Executive dies or becomes disabled on or after January 1, 2008 and if the performance target set by the Compensation Committee is ultimately met. In such event the number of RSUs which vest shall equal 60,000 multiplied by a fraction in which the numerator is the number of months of the Employment Term up to the date of death or disability (rounded to the nearest whole number), divided by 36. To the extent that any RSUs vest as provided in this Section 5(d), any restrictions imposed by the Company on securities of the Company held by the Executive shall be removed, except restrictions imposed by applicable federal and/or state securities laws. Future performance based long-term incentives shall vest as established by the Compensation Committee.
Death and Disability Benefit. Upon the Executive's death or upon becoming disabled prior to his Normal Retirement Date, the Executive or his Beneficiary shall be fully vested in the amount of his Supplemental Pension Benefit.
Death and Disability Benefit. Upon the Executive's death or upon his Total and Permanent Disability, the Executive or his Beneficiary shall be vested in his Supplemental Profit Sharing Benefit Account under the same terms and conditions as under the Corporation's qualified Profit Sharing Plan.