Due to Disability or Death Sample Clauses

Due to Disability or Death. If your membership on the Board terminates due to Disability or death prior to [One-year anniversary of grant date], all forfeiture restrictions on the Restricted Stock Units awarded hereunder shall lapse and all shares of Company common stock represented by the Restricted Stock Units shall be distributed to you, your estate, or the person who acquires this Award by will or the laws of descent and distribution or otherwise by reason of your death, as applicable, as soon as administratively practicable following the date of termination of your Board membership or the date of your death (as the case may be), but no later than 60 days after such date.
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Due to Disability or Death. By reason of Permanent and Total Disability (as defined in the Plan) (“Disability”) or death, all shares of Restricted Stock will vest on the date of death or Disability.
Due to Disability or Death. In the event your employment is terminated due to your disability or death, you or your estate, as applicable, shall be entitled to receive (1) the Annual Base Salary earned through the date of termination, (2) any annual bonus earned but unpaid for any fiscal year ending prior to the date of termination, and (3) a pro-rated Annual Target Bonus for the fiscal year of termination. The above amounts shall be paid in the form of a single, lump sum cash payment as soon as administratively practicable following the date of termination. In addition, your properly designated beneficiary shall be entitled to receive such other Company benefits or awards to which such beneficiary is entitled as of the date of termination under the terms of the relevant plan, policy or arrangement, other than any severance plan, policy or arrangement. To the extent not payable pursuant to the foregoing sentence, your surviving spouse (as defined in Section 6 of this Agreement) shall be entitled to receive the two-thirds pension benefit described in Section 6 of this Agreement. For purposes of this subsection, "disability" shall have the same meaning as provided under the SCL Senior Executive Compensation and Benefits Program.

Related to Due to Disability or Death

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

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