Common use of Termination of Employment upon Death Clause in Contracts

Termination of Employment upon Death. If Executive’s employment is terminated by reason of death, his estate shall be entitled to receive only the Base Salary to which Executive was entitled through the date of death, any accrued unpaid bonus compensation for the prior plan year, any unpaid Target Bonus compensation (calculated on a pro rata basis) due to Executive with respect to the plan year in which the Termination Date occurs, and such other benefits as may be available to Executive or his estate through ITG’s benefit plans and policies. The payment of said bonus compensation shall be made in a lump sum within sixty (60) days from the Termination Date.