Termination of Employment for Death. If Executive's employment is terminated by reason of Executive's death, then Executive's personal representative shall be entitled to receive Executive's theretofore unpaid base salary for the period of employment up to the date of death. Executive's spouse and dependent children shall continue to be entitled, at the expense of the Bank (subject to then existing co-payment features applicable under the Bank's medical insurance plan) if it is an insured plan, to further medical coverage to the extent permitted by COBRA; provided that, if the Bank's plan is not insured, the Bank will pay to Executive's spouse an additional monthly death benefit during the applicable COBRA period, based upon COBRA rates in effect at the time of Executive's death, in an amount equal to the COBRA rate plus taxes due on such cash payment; provided further that this benefit shall cease if the spouse and dependents cease to be eligible for COBRA coverage.
Termination of Employment for Death. Upon Termination of Employment due to death, this Option shall, to the extent rights to purchase shares hereunder have accrued at the date of death and shall not have been fully exercised, be exercisable, in whole or in part, by the personal representative of the Employee’s estate, by any person or persons who shall have acquired this Option directly from the Employee by bequest or inheritance, by a person designated to exercise the Option after the Employee’s death, or a Permitted Transferee only under the following circumstances and during the following periods: (i) if the Employee dies while employed by the Company or a subsidiary, at any time within three (3) years after his or her death, or (ii) if the Employee dies during the extended exercise period following termination of employment specified in paragraph 8(b), at any time within the longer of such extended period or one (1) year after his or her death, subject, in any case, to the earlier expiration of this Option.
Termination of Employment for Death. Upon Employee’s death, the Option shall, to the extent rights to purchase shares hereunder have accrued at the date of death and shall not have been fully exercised, be exercisable, in whole or in part, by the personal representative of the Employee’s estate, by any person or persons who shall have acquired the Option directly from the Employee by bequest or inheritance or a Permitted Transferee at any time within twelve (12) months after his death, subject to the prior expiration of the Option.
Termination of Employment for Death. Upon Termination of Employment due to death, this Option shall be fully vested and shall be exercisable, in whole or in part, by the personal representative of the Employee’s estate, by any person or persons who shall have acquired this Option directly from the Employee by bequest or inheritance, by a person designated to exercise the Option after the Employee’s death, or a Permitted Transferee only under the following circumstances and during the following periods: (i) if the Employee dies while employed by the Company or a subsidiary, at any time within one (1) year after his or her death, or (ii) if the Employee dies during the extended exercise period following termination of employment specified in paragraph 8(b) or 8(c) or 8(d), at any time within the longer of such extended period or one (1) year after his or her death, subject, in any case, to the earlier expiration of this Option.
Termination of Employment for Death. In the event of the Optionee’s death, the Option shall be exercisable by the personal representative of the Optionee’s estate or by any person or persons who shall have acquired the Option directly from the Optionee by bequest or inheritance, to the same extent that the deceased Optionee could exercise the Option at the date of death. Notwithstanding the foregoing, with respect to any portion of this Option consisting of ISOs, in the event of the Optionee’s death, the Option shall be exercisable by the personal representative of the Optionee’s estate or by any person or persons who shall have acquired the Option directly from the Optionee by bequest or inheritance, to the same extent that the deceased Optionee could exercise the Option at the date of death, but no later than three (3) months following the date of the Optionee’s death.
Termination of Employment for Death. If the Executive's employment is terminated by reason of the Executive's death, then the Executive's personal representative shall be entitled to receive the Executive's theretofore unpaid base salary for the period of employment up to the date of death. The Executive's spouse and dependent children shall continue to be entitled, at the expense of AnchorBank (subject to then existing co-payment features applicable under AnchorBank's medical insurance plan) if it is an insured plan, to further medical coverage to the extent permitted by COBRA; provided that, if AnchorBank's plan is not insured, AnchorBank will pay to the Executive's spouse an additional monthly death benefit during the applicable COBRA period, based upon COBRA rates in effect at the time of the Executive's death, in an amount equal to the COBRA rate plus taxes due on such cash payment; provided further that this benefit shall cease if the spouse and dependents cease to be eligible for COBRA coverage.
Termination of Employment for Death. By the Company for Cause or Disability; By Executive’s Resignation Other than for Good Reason. Executive’s employment automatically terminates upon Executive’s death. The Company may terminate Executive’s employment on account of Disability or for Cause. Executive may terminate his employment for other than Good Reason (as defined below in Article I, Section 6) upon not less than 15 business days prior written notice to the Company. Upon termination of employment for any of the foregoing reasons, Executive will be entitled to accrued and unpaid Salary through the date of termination of employment, and other benefits in accordance with the terms of the Company’s retirement, insurance, and other applicable plans and programs then in effect. a. For purposes of this Agreement, “Disability” occurs if Executive has been physically or mentally incapacitated so as to render Executive incapable of performing the essential functions of any substantial gainful activity, or Executive has received income replacement benefits under a Company plan for at least three months, and, in either instance, that incapacity is expected to result in death or to last for a continuous period of at least 12 months. Executive’s receipt of disability
Termination of Employment for Death. In the event of the Optionee’s death, the Option shall be exercisable by the personal representative of the Optionee’s estate or by any person or persons who shall have acquired the Option directly from the Optionee by bequest or inheritance, to the same extent that the deceased Optionee could exercise the Option at the date of death.
Termination of Employment for Death. By the Company for Cause or Disability; By Executive’s Resignation Other than for Good Reason. Executive’s employment automatically terminates upon Executive’s death. The Company may terminate Executive’s employment on account of Disability or for Cause. Executive may terminate his employment for other than Good Reason (as defined below in Article I, Section 6(b)) upon not less than 15 business days prior written notice to the Company. Upon termination of employment for any of the foregoing reasons, Executive will be entitled to accrued and unpaid Salary through the date of termination of employment, and other benefits in accordance with the terms of the Company’s retirement, insurance, and other applicable plans and programs then in effect. In addition, in the event that the Company elects to terminate Executive’s employment on account of Disability, Executive will also be entitled to an immediate full vesting and lapse of all restrictions on the Sign-On RSUs. The preceding sentence shall override any conflicting language contained in any applicable award agreement.
Termination of Employment for Death. If the Executive's employment with CBI and all affiliates terminates due to the Executive's death, no Severance Compensation shall be payable under this Agreement, but the Executive's estate shall be 100% vested in all stock options under the CBI Stock Option Plan and in the Deferred Retention Plan benefits described above, and CBI shall pay the Bonus Runoff to the Executive's estate.
