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

Termination upon Death of the Executive. Upon the death of the Executive, the Company shall pay to the Executive's estate (i) that portion of the Executive's Base Salary earned through the date of his death on its next regularly scheduled payroll date, (ii) all amounts that are fully vested and properly payable on or before his date of death under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him on or before his date of death. The foregoing amounts shall be paid to the Executive's estate or authorized representative within sixty (60) days following his death, unless provided otherwise by the ESOP or by a retirement, incentive compensation or other plan of the Company. In addition, all outstanding awards of cash bonuses, stock options, restricted stock and other incentive compensation (whether cash or equity based) shall vest and be paid or distributed to, or be exercisable by, as the case may be, the Executive's estate or authorized representative in accordance with (I) the applicable Incentive Plan, (II) the applicable Award Agreement, or (III) in the absence of an Incentive Plan or an Award Agreement relating to a particular award, as determined by the Board of Directors (or a committee thereof) or the Chairman of the Company.

Appears in 2 contracts

Samples: Employment Agreement (Chromcraft Revington Inc), Employment Agreement (Chromcraft Revington Inc)

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Termination upon Death of the Executive. Upon the death of the Executive, the Company shall pay to the Executive's ’s estate (i) that portion of the Executive's ’s Base Salary earned through the date of his death on its next regularly scheduled payroll date, (ii) all amounts that are fully vested and properly payable on or before his date of death under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him on or before his date of death. The foregoing amounts shall be paid to the Executive's ’s estate or authorized representative within sixty (60) days following his death, unless provided otherwise by the ESOP or by a retirement, incentive compensation or other plan of the Company. In addition, all outstanding awards of cash bonuses, stock options, restricted stock and other incentive compensation (whether cash or equity based) shall vest and be paid or distributed to, or be exercisable by, as the case may be, the Executive's ’s estate or authorized representative in accordance with (I) the applicable Incentive Plan, (II) the applicable Award Agreement, or (III) in the absence of an Incentive Plan or an Award Agreement relating to a particular award, as determined by the Board of Directors (or a committee thereof) or the Chairman of the Company.

Appears in 1 contract

Samples: Employment Agreement (Chromcraft Revington Inc)

Termination upon Death of the Executive. Upon the death of the Executive, the Company shall pay to the Executive's ’s estate (i) that portion of the Executive's ’s Base Salary earned through the date of his death on its next regularly scheduled payroll date, (ii) all amounts that are fully vested and properly payable on or before his date of death under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him on or before his date of death. The foregoing amounts shall be paid to the Executive's ’s estate or authorized representative within sixty (60) days following his death, unless provided otherwise by the ESOP or by a retirement, incentive compensation or other plan of the Company. In addition, all outstanding awards of cash bonuses, stock options, restricted stock and other incentive compensation (whether cash or equity based) shall vest and be paid or distributed to, or be exercisable by, as the case may be, the Executive's ’s estate or authorized representative in accordance with (I) the applicable Incentive Plan, (II) the applicable Award Agreement, or (III) in the absence of an Incentive Plan or an Award Agreement relating to a particular award, as determined by the Board of Directors (or a committee thereof) or the Chairman of the Company.

Appears in 1 contract

Samples: Employment Agreement (Outcast Inc)

Termination upon Death of the Executive. Upon the death of the Executive, the Company shall pay to the Executive's ’s estate (i) that portion of the Executive's ’s Base Salary earned through the date of his her death on its next regularly scheduled payroll date, (ii) all amounts that are fully vested and properly payable on or before his her date of death under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him her on or before his her date of death. The foregoing amounts shall be paid to the Executive's ’s estate or authorized representative within sixty (60) days following his her death, unless provided otherwise by the ESOP or by a retirement, incentive compensation or other plan of the Company. In addition, all outstanding awards of cash bonuses, stock options, restricted stock and other incentive compensation (whether cash or equity based) shall vest and be paid or distributed to, or be exercisable by, as the case may be, the Executive's ’s estate or authorized representative in accordance with (I) the applicable Incentive Plan, (II) the applicable Award Agreement, or (III) in the absence of an Incentive Plan or an Award Agreement relating to a particular award, as determined by the Board of Directors (or a committee thereof) or the Chairman of the Company.

Appears in 1 contract

Samples: Employment Agreement (Outcast Inc)

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Termination upon Death of the Executive. Upon the death of the Executive, the Company shall pay to the Executive's ’s estate (i) that portion of the Executive's ’s Base Salary earned through the date of his death on its next regularly scheduled payroll date, (ii) all amounts that are fully vested and properly payable on or before his date of death under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him on or before his date of death. The foregoing amounts shall be paid to the Executive's ’s estate or authorized representative within sixty (60) days following his death, unless provided otherwise by the ESOP ESOP, by a retirement or other plan, by policy or by a retirement, incentive compensation or other plan the historical practices of the Company. In addition, all outstanding awards of cash bonuses, stock options, restricted stock and other incentive compensation (whether cash or equity based) shall vest and be paid or distributed to, or be exercisable by, as the case may be, the Executive's ’s estate or authorized representative in accordance with (I) the applicable Incentive Plan, (II) the applicable Award Agreement, or (III) in the absence of an Incentive Plan or an Award Agreement relating to a particular award, as determined by the Board of Directors (or a committee thereof) Directors, the Compensation Committee or the Chairman of the Company.

Appears in 1 contract

Samples: Employment Agreement (Chromcraft Revington Inc)

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