Termination upon Death definition

Termination upon Death. O'Dell's employment with DUSA will cease and this Agreement will terminate without further compensation if O'Dell dies. Upon his death, his estate will be entitled to any Corporation paid death benefit in force at the time of such death. In addition, O'Dell's estate shall be paid any cash bonus to which he would have been entitled under Paragraph 3 above. Likewise, O'Dell's beneficiaries as designated by him to DUSA shall be entitled to receive the benefits, if any, described in Paragraphs 5 and 6 above, and will be entitled to exercise any vested but unexercised stock options that were held by him at the time of his death, subject to the terms and conditions of such options.
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Termination upon Death. Any accrued salary and any accrued bonuses and stock options as of the date of termination shall be paid to the legal representative of my estate.
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Examples of Termination upon Death in a sentence

  • If this Agreement is terminated by the Company pursuant to Sections 4.1 (Termination upon Death), 4.2 (Termination upon Disability) or 4.3 (Termination for Cause) hereof or in the event the Executive elects not to renew this Agreement pursuant to Section 2, the Executive shall receive only the amounts specified in clauses (iii), (iv) and (v) of Section 5.1 hereof.

  • If this Employment Agreement is terminated by the Company pursuant to Sections 4.1 (Termination upon Death), 4.2 (Termination upon Disability) or 4.3 (Termination for Cause) hereof, the Executive shall receive only the amounts specified in clause (iii) of Section 5.1 hereof.

  • In the event of termination of employment pursuant to Section 6.1(ii) (Termination for Disability) or Section 6.1(iii) (Termination upon Death), Executive shall be entitled to receive the Accrued Benefits.

  • Effect of Dismissal for Cause, Resignation without Good Reason, Termination upon Death or Disability or Termination at the End of the Employment Term.

  • Termination upon Death (g) Death or permanent disability of any of or Permanent Disability Center's Owners holding a majority or controlling ownership interest in Center or the permanent disability of Center Operator may, at BMW NA's option, result in the termination of this Agreement, upon written notice by BMW NA to Center.

  • If this Employment Agreement is terminated by the Company pursuant to Sections 4(a) (Termination upon Death), 4(b) (Termination upon Disability) or 4(c) (Termination for Cause) hereof, the Executive (or his estate or representative as applicable) shall receive only the amounts specified in clause (ii) and (iii) of Section 5(a) hereof.

  • Resignation without Good Reason and Termination upon Death or Disability.

  • You agree that in the event your employment with the Company terminates on or before August 9, 2025 for any reason other than a Termination by Executive for Good Reason, or Termination by the Company without Cause, or Termination upon Death or Disability (the “Retention Date”), you will be required to repay all or a portion of the Cash Payment to the Company within ten (10) business days of such termination as set forth below (the “Clawback Amount”).

  • Please make yourself available for all weekly time slots listed below until you see if you are released on the weekly schedule.

Related to Termination upon Death

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Termination Upon Change of Control shall not include any termination of the employment of the Executive (a) by the Company for Cause; (b) as a result of the Permanent Disability of the Executive; (c) as a result of the death of the Executive; or (d) as a result of the voluntary termination of employment by the Executive for reasons other than Good Reason.

  • Brain Death means irreversible unconsciousness with total loss of brain function; and complete absence of electrical activity of the brain, even though the heart is still beating.

  • Termination for Cause means termination because of: (1) Executive's personal dishonesty, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or similar offenses), final cease and desist order or material breach of any provision of this Agreement which results in a material loss to the Institution or the Holding Company, or (2) Executive's conviction of a crime or act involving moral turpitude or a final judgement rendered against Executive based upon actions of Executive which involve moral turpitude. For the purposes of this Section, no act, or the failure to act, on Executive's part shall be "willful" unless done, or omitted to be done, not in good faith and without reasonable belief that the action or omission was in the best interests of the Institution or its affiliates. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. During the period beginning on the date of the Notice of Termination for Cause pursuant to Section 8 hereof through the Date of Termination, stock options and related limited rights granted to Executive under any stock option plan shall not be exercisable nor shall any unvested awards granted to Executive under any stock benefit plan of the Institution, the Holding Company or any subsidiary or affiliate thereof, vest. At the Date of Termination, such stock options and related limited rights and any such unvested awards shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such Termination for Cause.

  • Termination With Cause and “Cause” shall have the same meaning specified in any effective severance or employment agreement existing on the date hereof or hereafter entered into between the Executive and the Bank. If the Executive is not a party to a severance or employment agreement containing a definition of termination with cause, Termination with Cause means the Bank terminates the Executive’s employment for any of the following reasons –