Common use of Termination in the Event of Death or Disability Clause in Contracts

Termination in the Event of Death or Disability. (i) If the Executive’s employment terminates because of his death, any unvested portion of any option and any restricted shares previously issued to the Executive by the Company Group shall become fully vested as of the date of his death. In addition, the Executive’s estate shall be entitled to receive a pro-rata share of any performance bonus to which he otherwise would have been entitled for the fiscal year in which his death occurs.

Appears in 11 contracts

Samples: Employment Agreement (Chesapeake Lodging Trust), Employment Agreement (Chesapeake Lodging Trust), Employment Agreement (Chesapeake Lodging Trust)

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