Member Death Sample Clauses

Member Death. In the event of the death of a Member, the Company shall redeem all outstanding Shares held by such Member. A Member may however elect at any time to Donate all or specified portions of such Member’s Member Data in the event of such Member’s death (in which event such Member Data need not be Purged upon such redemption of such Member’s Shares, unless, in the Manager’s opinion, not to do so would violate any applicable law, order, judgment, stipulation or decree), or to revoke such an election.
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Member Death. For the purpose of this Agreement, the death of an employee shall be considered as a termination of employment and subject to all conditions concerning such termination of employment as stipulated elsewhere in this Agreement; provided, however, that all pay, allowance and other benefits due such employee shall be paid to the employee's beneficiary. Where such employee has no named beneficiary, payment shall be made to the deceased employee's estate.
Sample 1
Member Death. As BVFF,I want to record a member death, So I can determine the eligible benefit. I'll be satisfied when I can: • Record a member death • Indicate if death was in the line of duty Pass/Fail M ☒ Yes ☐ No
Sample 1
Member Death. In the event of the death of a Member, the Company shall either: (i) redeem all outstanding Shares held by such Member; or (ii) transfer such Member’s Shares to a beneficiary designated by such Member, in accordance with the Manager’s procedures for such beneficiary designations and transfers (which may be modified from time to time), subject to Sections 8.1(b) and 8.3, and subject to the Manager’s determination, in its sole discretion, to refuse the transfer to such designated beneficiary for any reason or no reason. If a Member has not made a beneficiary designation pursuant to clause (ii) above, the Company shall redeem all outstanding Shares held by a Member upon becoming aware of the death of that Member. If the Manager has determined to refuse the transfer to a designated beneficiary as permitted in clause (ii) above, the Company shall redeem all outstanding Shares held by the deceased Member upon such determination. In the event of a redemption of a Member’s Shares upon death, a Member may elect at any time to Donate all or specified portions of such Member’s Member Data in the event of such Member’s death (in which event such Member Data need not be Purged upon such redemption of such Member’s Shares, unless, in the Manager’s opinion, not to do so would violate any applicable law, order, judgment, stipulation or decree), or to revoke such an election.
Sample 1
Member Death. In the event of a Member’s death, the membership may be conveyed by will to the Member’s beneficiaries or the laws of intestacy to the Member’s heirs. The death certificate, a certified copy of the will or court order, as well as a new Membership Application in the name of the new Member receiving the membership must be forwarded to NSP Distributor Education and Compliance. NSP also provides a form called “Beneficiary of Account” to proactively assist in these matters..
Sample 1

Related to Member Death

  • Termination for Death Following a Change in Control, if the Executive’s employment with the Company is terminated by reason of his death, the Executive’s benefits shall be determined in accordance with the Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect.

  • Termination for Retirement or Death If Executive’s employment is terminated by reason of his retirement or death following a Change in Control, Executive’s benefits shall be determined in accordance with Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect, and Executive shall not be entitled to any other benefits provided by this Agreement.

  • Disability or Death (i) The Employment Term and Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the Company if Executive becomes physically or mentally incapacitated and is therefore unable for a period of six (6) consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period to perform Executive’s duties (such incapacity is hereinafter referred to as “Disability”). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability made in writing to the Company and Executive shall be final and conclusive for all purposes of the Agreement.

  • Upon Death or Disability If the Executive dies, all provisions of Section 3 of this Agreement (other than rights or benefits arising as a result of such death) and the Employment Term shall be automatically terminated; provided, however, that an amount equal to the earned and unpaid Incentive Payments to the date of death and the Standard Termination Payments shall be paid to the Executive’s surviving spouse or, if none, the Executive’s estate (as set forth above), and the death benefits under the Company’s employee benefit plans shall be paid to the Executive’s beneficiary or beneficiaries as properly designated in writing by the Executive. If the Executive is unable to perform the essential functions of the Executive’s job under this Agreement, with or without reasonable accommodation, by reason of physical or mental disability or incapacity (“Disability”) and such disability or incapacity shall have continued for any period aggregating six months within any 12 consecutive months, the Company may terminate this Agreement and the Employment Term at any time thereafter. In such event, the Executive shall be entitled to receive the Executive’s normal compensation hereunder during said time of disability or incapacity, and shall thereafter be entitled to receive the “Disability Incentive Payment” (as described in the penultimate sentence of this subsection (b)) and the Standard Termination Payments (as set forth above). The portion of the payment representing the Disability Incentive Payment shall be paid in a lump sum determined on a net present value basis, using a reasonable discount rate determined by the Board. The Disability Incentive Payment shall be equal to the target Incentive Payment that the Executive would have been eligible to receive for the year in which the Employment Term is terminated multiplied by a fraction, the numerator of which is the number of days in such year before and including the day of termination of the Employment Term and the denominator of which is the total number of days in such year. Subject to Section 19 below, the Disability Incentive Payment shall be payable in a lump sum on the 60th day after termination of the Executive’s employment.

  • Retirement, Death or Disability If the Executive’s employment terminates during the Term of this Agreement due to his death, a disability that results in his collection of any long-term disability benefits, or retirement at or after age 62, the Executive (or the beneficiaries of his estate) shall be entitled to receive the compensation and benefits that the Executive would otherwise have become entitled to receive pursuant to subsection (d) hereof upon a resignation without Good Reason.

  • Termination for Death or Disability If the Employee's employment is terminated by death or because of disability pursuant to Section 4.3, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, all sums which would otherwise be payable to the Employee under Section 3 up to the end of the month in which the termination of his employment because of death or disability occurs.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

  • Termination Due to Disability or Death This Agreement shall terminate automatically upon the appointee’s death. If the appointee is unable to perform his/her essential job functions with or without reasonable accommodation, the University or appointee may terminate this Agreement.

  • Termination Due to Death or Disability Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Disability, such termination to be effective upon Executive’s receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Disability, Executive or Executive’s estate or Executive’s beneficiaries, as the case may be, shall be entitled to:

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