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MRO » Topics » 5. Termination of Employment due to Death.

This excerpt taken from the MRO 10-Q filed Aug 7, 2007.
5.             Termination of Employment due to Death.  If Participant’s Employment is terminated by reason of death prior to the close of the 2007-2009 Performance Cycle, the Participant’s right to receive the Performance Units shall vest in full as of the date of death and the Payout Percentage shall be 100%.  A cash payment equal to the vested value of the Performance Units shall be made in accordance with Paragraph 3 on the first day of the third month following the death of the Participant.  Such vesting shall satisfy the rights of the Participant and the obligations of the Corporation under this Award Agreement in full.

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