BEAV » Topics » Termination Date

These excerpts taken from the BEAV 10-K filed Feb 26, 2009.
Termination Date" shall mean (i) if the Employee’s employment is terminated (x) by his death, the date of his death; or (y) for any other reason, the date on which the Employee incurs a Separation from Service.

(b)  Death.  The Employee’s employment hereunder shall terminate upon his death.  In such event, the Company shall, within thirty (30) days following the date of death, pay to such person as the Employee shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump sum amount equal to the Salary (at the rate in effect as of the Termination Date) payable during the period from the Termination Date through the Expiration Date.

(c)   Incapacity.  If, in the reasonable judgment of the President and Chief Operating Officer, as a result of the Employee’s incapacity due to physical or mental illness, the Employee shall have been absent from his full-time duties as described hereunder for the entire period of six (6) consecutive months ("
Termination Date" shall mean (i) if the Employee’s employment is terminated (x) by his death, the date of his death, or (y) for any other reason, the date on which the Employee incurs a Separation from Service.

(b)  Death.  The Employee’s employment hereunder shall terminate upon his death.  In such event, the Company shall, within thirty (30) days following the date of death, pay to such person as the Employee shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump sum amount equal to the Salary (at the rate in effect as of the Termination Date) payable during the period from the Termination Date through the Expiration Date.

(c)   Incapacity.  If, in the reasonable judgment of the President and Chief Operating Officer, as a result of the Employee’s incapacity due to physical or mental illness, the Employee shall have been absent from his full-time duties as described hereunder for the entire period of six (6) consecutive months ("
Termination Date” shall mean the earlier of (i) the Expiration Date; or (ii) if the Executive’s employment is terminated (x) by his death, the date of his death, or (y) for any other reason, the date on which the Executive incurs a Separation from Service (as defined below).
 
(b) Death.  The Executive’s employment hereunder shall terminate upon his death.  In such event, the Company shall within thirty (30) days following his date of death pay to such person as the Executive shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump sum amount equal to the Salary (at the rate in effect as of the Termination Date) that would have been due to the Executive had this Agreement been in effect and he remained employed from the date of his death until the Expiration Date.
 
(c) Incapacity.  If, in the reasonable judgment of the President and Chief Operating Officer, as a result of the Executive’s incapacity due to physical or mental illness, the Executive shall have been absent from his full-time duties as described hereunder for the entire period of six (6) consecutive months (“
Termination Date shall mean if the Executive’s employment is terminated (i) by his death, the date of his death or (ii) for any other reason, the date on which the Executive incurs a Separation from Service, (as defined below).
 
(b) Death.  The Executive’s employment hereunder shall terminate upon his death.  In such event, the Company shall, within thirty (30) days following the date of death, pay to such person as the Executive shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump sum amount equal to the Salary and Automobile Allowance (at the rate in effect as of the Termination Date) payable during the period from the Termination Date through the Expiration Date.
 
(c) Incapacity.  If, in the reasonable judgment of the President and Chief Operating Officer, as a result of the Executive’s incapacity due to physical or mental illness, the Executive shall have been absent from his full-time duties as described hereunder for the entire period of six (6) consecutive months (“
Termination Date” shall mean the earlier of (i) Executive’s date of death and (ii) date on which Executive incurs a Separation from  Service (as defined below) with the Company and its subsidiaries and affiliates for any reason.
 
(b)    Death.
 
(i)    Executive’s employment hereunder shall terminate upon his death.  In such event, the Company shall, within thirty (30) days following the date of death, pay to such natural person, trust, corporation, limited liability company, limited or general partnership, or any other entity (each a “
Termination Date" shall mean if Executive's employment is terminated (i) by his death, the date of his death or (ii) for any other reason, the date on which Executive incurs a Separation from Service (as defined in Section 15(c) below).
 
(b) Death.
 
(i) Executive's employment hereunder shall terminate upon his death.  In such event, the Company shall, within thirty (30) days following the Termination Date, pay to such person as Executive shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump-sum amount equal to (A) the Salary (at the rate in effect as of the Termination Date) that would have been due to Executive had this Agreement been in effect and he remained employed from the Termination Date until the Expiration Date, (B) any accrued and unpaid Salary and benefits through the Termination Date, and (C) any bonuses declared to be payable to Executive for any fiscal periods of the Company ending prior to his date of death;
 
(ii) Upon Executive's death at any time during or after the Employment Term, the Company shall, within thirty (30) days following the date of death, also pay to such person as Executive shall have designated in a notice filed with the Company, or if no such person shall have been designated, to his estate, a lump-sum death benefit in the amount of $1.5 million in accordance with the Death Benefit Agreement attached as Exhibit A hereto;
 
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EXECUTION COPY
 
(iii) Following Executive's death, his spouse and eligible dependents shall be entitled to continuation of medical, dental and health benefits for two (2) years pursuant to Section 4(d) hereof;
 
(iv) Upon Executive's death, the Retirement Compensation shall vest in full and the Company shall, within thirty (30) days following the Termination Date, pay to such person as Executive shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump-sum amount equal to the entire remaining unpaid balance of the Retirement Compensation accrued through Termination Date; and
 
(v) Upon Executive's death, any stock options or restricted stock awards  ("
Termination
Date
" shall
mean if Executive's employment is terminated (i) by his death, the date of
his death or (ii) for any other reason, the date on which Executive incurs
a Separation from Service (as defined in Section 15(c) below).

 

(b) Death.

 

(i) Executive's
employment hereunder shall terminate upon his death.  In such event,
the Company shall, within thirty (30) days following the Termination Date,
pay to such person as Executive shall have designated in a notice filed with the
Company, or, if no such person shall have been designated, to his estate, a
lump-sum amount equal to (A) the Salary (at the rate in effect as of the
Termination Date) that would have been due to Executive had this Agreement been
in effect and he remained employed from the Termination Date until the
Expiration Date, (B) any accrued and unpaid Salary and benefits through the
Termination Date, and (C) any bonuses declared to be payable to Executive
for any fiscal periods of the Company ending prior to his date of
death;

 

(ii) Upon
Executive's death at any time during or after the Employment Term, the Company
shall, within thirty (30) days following the date of death, also pay to
such person as Executive shall have designated in a notice filed with the
Company, or if no such person shall have been designated, to his estate, a
lump-sum death benefit in the amount of $1.5 million in accordance with the
Death Benefit Agreement attached as Exhibit A
hereto;

 







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EXECUTION
COPY



 

(iii) Following
Executive's death, his spouse and eligible dependents shall be entitled to
continuation of medical, dental and health benefits for two (2) years
pursuant to Section 4(d) hereof;

 

(iv) Upon
Executive's death, the Retirement Compensation shall vest in full and the
Company shall, within thirty (30) days following the Termination Date, pay
to such person as Executive shall have designated in a notice filed with the
Company, or, if no such person shall have been designated, to his estate, a
lump-sum amount equal to the entire remaining unpaid balance of the Retirement
Compensation accrued through Termination Date; and

 

(v) Upon
Executive's death, any stock options or restricted stock
awards  ("
Termination
Date
” shall mean the earlier of (i) Executive’s date of death and (ii)
date on which Executive incurs a Separation from  Service (as defined
below) with the Company and its subsidiaries and affiliates for any
reason.

 

(b)    Death.

 

(i)    Executive’s
employment hereunder shall terminate upon his death.  In such event,
the Company shall, within thirty (30) days following the date of death, pay to
such natural person, trust, corporation, limited liability company, limited or
general partnership, or any other entity (each a “
Termination
Date
 shall
mean if the Executive’s employment is terminated (i) by his death, the date
of his death or (ii) for any other reason, the date on which the Executive
incurs a Separation from Service, (as defined below).

 

(b) Death.  The
Executive’s employment hereunder shall terminate upon his death.  In
such event, the Company shall, within thirty (30) days following the date
of death, pay to such person as the Executive shall have designated in a notice
filed with the Company, or, if no such person shall have been designated, to his
estate, a lump sum amount equal to the Salary and Automobile Allowance (at the
rate in effect as of the Termination Date) payable during the period from the
Termination Date through the Expiration Date.

 

(c) Incapacity.  If,
in the reasonable judgment of the President and Chief Operating Officer, as a
result of the Executive’s incapacity due to physical or mental illness, the
Executive shall have been absent from his full-time duties as described
hereunder for the entire period of six (6) consecutive months (“
Termination
Date
" shall mean (i) if the Employee’s employment is terminated (x) by
his death, the date of his death, or (y) for any other reason, the date on which
the Employee incurs a Separation from Service.



(b)  Death.  The
Employee’s employment hereunder shall terminate upon his death.  In
such event, the Company shall, within thirty (30) days following the date of
death, pay to such person as the Employee shall have designated in a notice
filed with the Company, or, if no such person shall have been designated, to his
estate, a lump sum amount equal to the Salary (at the rate in effect as of the
Termination Date) payable during the period from the Termination Date through
the Expiration Date.



(c)   Incapacity.  If,
in the reasonable judgment of the President and Chief Operating Officer, as a
result of the Employee’s incapacity due to physical or mental illness, the
Employee shall have been absent from his full-time duties as described hereunder
for the entire period of six (6) consecutive months ("
Termination
Date
” shall mean the earlier of (i) the Expiration Date; or (ii) if the
Executive’s employment is terminated (x) by his death, the date of his death, or
(y) for any other reason, the date on which the Executive incurs a Separation
from Service (as defined below).

 

(b) Death.  The
Executive’s employment hereunder shall terminate upon his death.  In
such event, the Company shall within thirty (30) days following his date of
death pay to such person as the Executive shall have designated in a notice
filed with the Company, or, if no such person shall have been designated, to his
estate, a lump sum amount equal to the Salary (at the rate in effect as of the
Termination Date) that would have been due to the Executive had this Agreement
been in effect and he remained employed from the date of his death until the
Expiration Date.

 

(c) Incapacity.  If,
in the reasonable judgment of the President and Chief Operating Officer, as a
result of the Executive’s incapacity due to physical or mental illness, the
Executive shall have been absent from his full-time duties as described
hereunder for the entire period of six (6) consecutive months (“
Termination
Date
" shall mean (i) if the Employee’s employment is terminated (x) by
his death, the date of his death; or (y) for any other reason, the date on which
the Employee incurs a Separation from Service.



(b)  Death.  The
Employee’s employment hereunder shall terminate upon his death.  In
such event, the Company shall, within thirty (30) days following the date of
death, pay to such person as the Employee shall have designated in a notice
filed with the Company, or, if no such person shall have been designated, to his
estate, a lump sum amount equal to the Salary (at the rate in effect as of the
Termination Date) payable during the period from the Termination Date through
the Expiration Date.



(c)   Incapacity.  If,
in the reasonable judgment of the President and Chief Operating Officer, as a
result of the Employee’s incapacity due to physical or mental illness, the
Employee shall have been absent from his full-time duties as described hereunder
for the entire period of six (6) consecutive months ("

EXCERPTS ON THIS PAGE:

10-K (12 sections)
Feb 26, 2009
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