Termination Severance. (a) If Employee dies during the term of this Agreement, the Company shall pay his estate the compensation that would otherwise be payable to him for the month in which his death occurs, this Agreement shall be considered terminated on the last day of such month and the Company shall cause any issued but unvested stock options granted to Employee to immediately vest.
Appears in 9 contracts
Samples: Employment Agreement, Employment Agreement (Nivalis Therapeutics, Inc.), Employment Agreement (Nivalis Therapeutics, Inc.)
Termination Severance. (a) If Employee dies during the term of this Agreement, the Company shall pay his estate the compensation that would otherwise be payable to him for the month in which his death occurs, this Agreement shall be considered terminated on the last day of such month and the Company shall cause any issued but unvested stock options granted to Employee to immediately vest.
Appears in 3 contracts
Samples: Employment Agreement (Array Biopharma Inc), Employment Agreement (Array Biopharma Inc), Employment Agreement (Array Biopharma Inc)
Termination Severance. (a) If Employee dies during the term of this Agreement, the Company shall pay his her estate the compensation that would otherwise be payable to him for the month in which his her death occurs, this Agreement shall be considered terminated on the last day of such month and the Company shall cause any issued but unvested stock options granted to Employee to immediately vest.
Appears in 2 contracts
Samples: Employment Agreement (Nivalis Therapeutics, Inc.), Employment Agreement (Nivalis Therapeutics, Inc.)
Termination Severance. (a) If Employee dies during the term of this Agreement, i) the Company shall pay his estate the compensation that would otherwise be payable to him for the month in which his death occurs, ; ii) this Agreement shall be considered terminated on the last day of such month month; and iii) the Company shall cause any issued but unvested stock options Initial Options granted to Employee to immediately vest.
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Termination Severance. (a) If a)If Employee dies during the term of this Agreement, the Company shall pay his estate the compensation that would otherwise be payable to him for the month in which his death occurs, this Agreement shall be considered terminated on the last day of such month and the Company shall cause any issued but unvested stock options or restricted stock units granted to Employee to immediately vest.
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