Termination of Employment Upon Death or Disability. In the event of termination of Executive's employment as a result of either (i) Executive's death or Disability (as hereinafter defined), the Company shall pay to Executive, his estate or his personal representative (A) the unpaid salary through the end of the Employment Period remaining (assuming no such termination occurred) and (B) a pro-rata portion, based upon the number of days in the period beginning with January 1 of the calendar year in which such termination occurred and ending with the date the Employment Period ends (assuming such termination did not occur), of the average annual amount of incentive compensation payments paid to Executive during each previous year of Executive's employment hereunder (the "Pro-Rata Portion of Incentive Compensation"). The aforesaid amount shall be payable, at the option of Executive, his estate or his personal representative, either (i) in full immediately upon such termination or (ii) monthly over the remainder of the Employment Period. In addition, Executive shall be entitled (i) at the option of Executive, his estate or his personal representative, within one (1) year of the date of such termination, to exercise any options which have vested (including, without limitation, by acceleration in accordance with the terms of the applicable option grant agreement or plan) and are exercisable in accordance with the terms of the applicable option grant agreement or plan or to require the Company (upon written notice delivered within one hundred eighty (180) days following the date of Executive's termination) to repurchase all or any portion of Executive's vested options to purchase shares of Common Stock at a price equal to the difference between the Repurchase Fair Market Value (as hereinafter defined) of the shares of Common Stock for which the options to be repurchased are exercisable and the exercise price of such option as of the date of Executive's termination of employment, (ii) to retain all Restricted Shares awarded to Executive pursuant to this Agreement and the Restricted Share Agreement whether or not such Restricted Shares had previously vested as of the date of termination. In the event any Restricted Shares have not vested as of the date of termination, such Restricted Shares shall immediately vest and Executive, his estate or his personal representative shall receive a cash payment from the Company on the date of termination in an amount equal to forty percent (40%) of the Fair Market Value (determine...
Termination of Employment Upon Death or Disability. If your employment with Polaris is terminated under Section 5(a)(iv) due to death or disability, then upon termination of your employment:
Termination of Employment Upon Death or Disability. Upon termination of the Participant’s employment with the Company or its subsidiaries or affiliates by reason of death or disability (as determined by the Committee), unvested shares of Restricted Stock shall become fully vested.
Termination of Employment Upon Death or Disability. In the event of termination of Executive's employment as a result of either (i) Executive's death or Disability (as hereinafter defined), the Company shall pay to Executive, his estate or his personal representative (A) the unpaid salary through the end of the Employment Period remaining (assuming no such termination occurred) and (B) a pro-rata portion, based upon the number of days in the period beginning with January 1 of the calendar year in which such termination occurred and ending with the date the Employment Period ends (assuming such termination did not occur), of the average annual amount of incentive compensation payments paid to Executive during each previous year of Executive's employment hereunder (the "Pro-Rata Portion of Incentive Compensation"). The aforesaid amount shall be payable, at the option of Executive, his estate or his personal representative, either (i) in full immediately upon such termination or (ii) monthly over the remainder of the Employment Period. In addition, Executive shall be entitled (i) at the option of Executive, his estate or his personal representative, within one (1) year of the date of such termination, to exercise any options which have vested
Termination of Employment Upon Death or Disability. If the Executive experiences a Termination of Employment pursuant to Section 4(a)(i) due to the Executive’s death, or pursuant to Section 4(a)(ii) due to the Executive’s Disability, the Company shall pay to the Executive (or the Executive’s estate):
Termination of Employment Upon Death or Disability. In the event that the Optionee shall cease to be employed by the Company or any of its subsidiaries by reason of death or disability and shall not have fully exercised his or her Option granted hereunder, such Option may be exercised, but only with respect to the number of shares which the Optionee could have purchased had the Optionee exercised this Option as of the date of his or her cessation of employment, at any time within twelve (12) months after the Optionee's cessation of employment as a result of such death or disability, but in any event no later than the date or expiration of the Option period, by the Optionee or, in the event of death, by the executors or administrators 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. At the end of such twelve (12) month period, the Option, to the extent it remains unexercised, shall terminate and become void and of no effect.
Termination of Employment Upon Death or Disability. Except as otherwise provided herein, upon termination of the Participant’s employment with the Company or its subsidiaries or affiliates by reason of death or Disability, all unvested shares of Restricted Stock shall become fully vested on the date of the termination of such employment. Notwithstanding the foregoing provisions of this paragraph, if the Participant dies by suicide, while sane or insane, all unvested shares of Restricted Stock will be forfeited to and reacquired by the Company at no cost to the Company, automatically and immediately. For purposes of this Section 4(a), “suicide” shall include situations where the Participant (i) causes his or her own death in an obvious manner (where the Participant is clearly responsible for taking his or her own life), (ii) dies while carrying out acts of felony, or (iii) intentionally conducts activities with a high probability of death that result in death (such as, for example, excessively overdosing on drugs known to cause death or driving while extremely intoxicated).
Termination of Employment Upon Death or Disability. Unless otherwise provided in any employment agreement or change in control agreement between the Participant and the Company (or any subsidiary thereof), in which case such agreement shall control, upon termination of the Participant’s employment with the Company or its subsidiaries or affiliates by reason of death or disability (as determined by the Committee), all unvested shares of Restricted Stock shall become fully vested.
Termination of Employment Upon Death or Disability. If the Performance Target is achieved in an amount sufficient to earn all or a portion of an Award, and if the Participant’s employment is terminated during the Performance Measurement Period by reason of the Participant’s death or disability, the number of shares earned under this Restricted Stock Award will be prorated based on the date of death or disability and the number of months the Participant was actively employed during the Performance Measurement Period. The Restricted Stock Award, as so prorated, shall be determined in accordance with Section 8 as of the first day of the year following the end of the Performance Measurement Period. The unvested Shares shall be issued and delivered to the Participant within thirty (30) days after the filing of the Company’s Form 10-K with the Securities and Exchange Commission in 2008.
Termination of Employment Upon Death or Disability. Unless otherwise provided in any employment agreement or change in control agreement between the Participant and the Company (or any subsidiary thereof), in which case such agreement shall control, upon termination of the Participant’s employment with the Company or its subsidiaries or affiliates by reason of death or disability (as determined by the Committee), all unvested RSUs shall become vested. Such vested RSUs shall be converted to Stock, on a one to one basis, and shall be delivered to the Participant or his or her estate, as applicable, within thirty days following such termination of employment. Notwithstanding the prior sentence, payment shall be delayed until the first day of the seventh month following termination of employment, if necessary to comply with the requirements of Section 409A of the Internal Revenue Code.
