Common use of Termination on Death Clause in Contracts

Termination on Death. If the Employee shall die during the Term, the employment of the Employee shall thereupon terminate. On the Date of Termination pursuant to this Section 7.4, the Company shall pay, in lieu of any payments under Sections 4.1 and 4.2 for the remainder of the Term, to the Employee’s estate the payments and other benefits applicable to termination without Cause set forth in Section 7.2 hereof, other than those related to career counseling, resume development and the Health Insurance Benefit. In addition, on termination of the Employee under this Section 7.4, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become exercisable, and all RSUs and shares of the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the earlier of (a) the expiration of the term of such Options or rights or (b) the first (1st) anniversary of the Employee’s termination. The provisions of this Section 7.4 shall not affect the entitlements of the Employee’s heirs, executors, administrators, legatees, beneficiaries or assigns under any employee benefit plan, fund or program of the Company.

Termination on Death. If the Employee shall die during the Term, the employment of the Employee shall thereupon terminate. On the Date of Termination (as defined in Section 9(b)) pursuant to this Section 7.47(d), the Company shall pay, in lieu of any payments under Sections 4.1 and 4.2 for the remainder of the Term, pay to the Employee’s 's estate the payments and other benefits applicable to termination without Cause set forth in Section 7.2 7(b) hereof, other than those related to career counseling, resume development and the Health Insurance Benefit. In addition, on termination of such termination, if not previously paid, the Employee under this contract signing bonus payable pursuant to Section 7.44(c) shall become immediately due and payable, the principal and all accrued but unpaid interest on the Loan Facility shall be immediately forgiven, all of the Employee’s 's outstanding but unvested Options and other options and rights relating to capital stock of the Company shall immediately vest and become exercisable, and all RSUs and shares the restrictions on resale of the Company’s Restricted Common Stock issued to received on exercise of the Employee Options described in Section 4(a)(6) shall immediately vest and become unrestricted and freely transferableterminate. The exercisability term of any such Options and other options and rights shall be extended to the earlier of (a) the expiration of the term of such Options or rights or (b) the first (1st) third anniversary of the Employee’s 's termination. The provisions of this Section 7.4 7(d) shall not affect the entitlements of the Employee’s 's heirs, executors, administrators, legatees, beneficiaries or assigns under any employee benefit plan, fund or program of the Company.