Common use of Termination upon Death of the Executive Clause in Contracts

Termination upon Death of the Executive. In addition to any other provision relating to termination, this Agreement shall terminate upon the Executive’s death. In such event, all unpaid compensation, compensation for vacation time not taken by the Executive and all expense reimbursements due to the Executive shall be paid to the Executive’s estate. In the event Executive’s employment is terminated pursuant to this Section 3.4, the Executive’s estate shall be entitled to a death benefit equal to one year of salary compensation, and to participate in the bonus pursuant to Section 2.2 with respect to the year in which his employment is terminated pro rated for the year based on the number of full months worked during such year compared to 12.

Termination upon Death of the Executive. In addition to any other provision relating to termination, this Agreement shall terminate upon the Executive’s death. In such event, all unpaid compensation, compensation for vacation time not taken by the Executive and all expense reimbursements due to the Executive shall be paid to the Executive’s estate. In the event Executive’s employment is terminated pursuant to this Section 3.4, the Executive’s estate shall be entitled to a death benefit equal to one year six months of salary compensationcompensation (i.e. one-half of the Base Salary then being paid to the Executive), and to participate in the bonus pursuant to Section 2.2 with respect to the year in which his employment is terminated pro rated for the year based on the number of full months worked during such year compared to 12.