Common use of Executive’s Death Clause in Contracts

Executive’s Death. The Executive’s employment shall be terminated upon the death of the Executive. Any rights and benefits that the Executive’s estate or any other person may have under employee benefit plans and programs of the Company generally in the event of the Executive’s death shall be determined in accordance with the terms of such plans and programs. In the event the Executive’s employment is terminated pursuant to this Section 5(F), the Executive shall be entitled to no severance or other termination benefits from and after the termination of his employment except as provide in Section 5(I) hereof. Notwithstanding the foregoing, in the event that the Executive’s employment is terminated pursuant to this Section 5(F), the Executive (or his estate) shall be entitled to receive (i) the full amount of any unpaid Annual Cash Bonus for any calendar year prior to the year in which the Executive’s employment is terminated, and (ii) if the Executive’s employment is terminated after one-half (1/2) or more of a calendar year has transpired, pay to the Executive a portion of the Annual Cash Bonus for such calendar year in an amount, if any, provided for in Section 5(L).

Appears in 2 contracts

Samples: Employment and Non Competition Agreement (Vs Holdings, Inc.), Employment and Non Competition Agreement (Vs Holdings, Inc.)

AutoNDA by SimpleDocs

Executive’s Death. The Executive’s employment shall be terminated upon the death of the Executive. Any rights and benefits that the Executive’s estate or any other person may have under employee benefit plans and programs of the Company generally in the event of the Executive’s death shall be determined in accordance with the terms of such plans and programs. In the event the Executive’s employment is terminated pursuant to this Section 5(F), the Executive shall be entitled to no severance or other termination benefits from and after the termination of his employment except as provide in Section Sections 5(G), 5(H) and 5(I) hereof. Notwithstanding the foregoing, in the event that if the Executive’s employment is terminated pursuant to this Section 5(F), the Executive (or his estate) estate shall be entitled to receive (i) the full amount of any unpaid Annual Cash Bonus for any calendar year of the Company prior to the year in which the Executive’s his employment is terminated, and (ii) if the Executive’s his employment is terminated after one-half (1/2( 1⁄2) or more of a calendar year has transpired, pay to the Executive his estate a portion of the Annual Cash Bonus for such calendar year in an amount, if any, provided for in Section 5(L).

Appears in 1 contract

Samples: Employment and Non Competition Agreement (Vitamin Shoppe, Inc.)

Executive’s Death. The Executive’s employment shall be terminated upon the death of the Executive. Any rights and benefits that the Executive’s estate or any other person may have under employee benefit plans and programs of the Company generally in the event of the Executive’s death shall be determined in accordance with the terms of such plans and programs. In the event the Executive’s employment is terminated pursuant to this Section 5(F), the Executive shall be entitled to no severance or other termination benefits from and after the termination of his employment except as provide in Section 5(I) hereof. Notwithstanding the foregoing, in the event that the Executive’s employment is terminated pursuant to this Section 5(F), the Executive (or his estate) shall be entitled to receive (i) the full amount of any unpaid Annual Cash Bonus for any calendar year of the Company prior to the year in which the Executive’s employment is terminated, and (ii) if the Executive’s employment is terminated after one-half (1/2) or more of a calendar year has transpired, pay to the Executive a portion of the Annual Cash Bonus for such calendar year in an amount, if any, provided for in Section 5(L).

Appears in 1 contract

Samples: Employment and Non Competition (Vs Holdings, Inc.)

Executive’s Death. The Executive’s employment shall be terminated upon the death of the Executive. Any rights and benefits that the Executive’s estate or any other person may have under employee benefit plans and programs of the Company generally in the event of the Executive’s death shall be determined in accordance with the terms of such plans and programs. In the event the Executive’s employment is terminated pursuant to this Section 5(F), the Executive shall be entitled to no severance or other termination benefits from and after the termination of his her employment except as provide in Section 5(I) hereof. Notwithstanding the foregoing, in the event that the Executive’s employment is terminated pursuant to this Section 5(F), the Executive (or his her estate) shall be entitled to receive (i) the full amount of any unpaid Annual Cash Bonus for any calendar year prior to the year in which the Executive’s employment is terminated, and (ii) if the Executive’s employment is terminated after one-half (1/2) or more of a calendar year has transpired, pay to the Executive a portion of the Executive’s Annual Cash Bonus for such calendar year in an amount, if any, provided for in Section 5(L5(K).

Appears in 1 contract

Samples: Employment and Non Competition Agreement (Vitamin Shoppe, Inc.)

AutoNDA by SimpleDocs

Executive’s Death. The Executive’s employment shall be terminated upon the death of the Executive. Any rights and benefits that the Executive’s estate or any other person may have under employee benefit plans and programs of the Company generally in the event of the Executive’s death shall be determined in accordance with the terms of such plans and programs. In the event the Executive’s employment is terminated pursuant to this Section 5(F3(F), the Executive shall be entitled to no severance or other termination benefits from and after the termination of his employment except as provide in Section 5(I3(I) hereof. Notwithstanding the foregoing, in the event that the Executive’s employment is terminated pursuant to this Section 5(F3(F), the Executive (or his estate) shall be entitled to receive (i) the full amount of any unpaid Annual Cash Bonus for any calendar year prior to the year in which the Executive’s employment is terminated, and (ii) if the Executive’s employment is terminated after one-half (1/2) or more of a the calendar year has transpired, pay to the Executive a portion of the Annual Cash Bonus for such calendar year in an the amount, if any, provided for in Section 5(L3(M).

Appears in 1 contract

Samples: Employment Agreement (Vs Holdings, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.