Common use of Termination Upon Employee’s Death Clause in Contracts

Termination Upon Employee’s Death. In the event of Employee’s death, Employee’s employment under this Agreement shall immediately terminate. In the event of termination of employment by Employer upon death, Employer’s obligations to pay the Base Salary and any Bonus, if applicable, and to provide all benefits under Article V and both parties’ obligations set forth in Article VI shall automatically cease. Further, the Restricted Stock granted herein will completely vest in such event, the forfeiture restrictions with respect to Restricted Stock granted in Section 4.3 hereof shall lapse and both parties obligations pursuant to Section VI shall continue.