9. Effect of termination of the employment relationship or death. If the worker is placed on leave for more than twelve months (with the exception of leave authorized by the board of directors or committee) or, for whatever reason, he is no longer employed by the company, other than the death, which is part of the SARs, who did not exercise on the day the worker was no longer employed or placed on leave for more than twelve months (with the exception of an absence leave authorized by the committee) and that any non-exercised party of the SARs, which was at this date due on that date, expires earlier after (i) that the SAR failure was granted in accordance with the lifespan of the SARs based on the duration of the SARs for which the SARs were granted. , or (ii) three months from that date, except for a worker who is a “certified retiree” under the following definition. If the worker is a registered retiree, the SARs expire earlier after (i) the sequence of these RSAs according to their initial duration or (ii) at the end of a five-year period from the date of retirement. Notwithstanding the above rate, the retiree approved under this contract terminates when a registered retiree retires before and ends with the SAR of the 153s approved retiree with respect to the number of these MI shares granted under this agreement, based on the ratio of (a) the number of days after the retirement date of registered retiree 153 and, prior to , b) the number of days on the date and date of the grant and before . In the event of the death of a worker without authorized rest during the three (3) months following termination of employment or 12 months of leave (with the exception of leave authorized by the Board of Directors or committee), THE SARs are exercised by Employeee153`s personal representatives, heirs or omissions to the same extent and during the same period during which the worker could have exercised the SAR if the worker had not died. In the event of the employee`s death during an employee of the company or during an approved retiree, the RAD (if the waiting period has expired) may be exercised in its entirety by the employee`s personal representatives, heirs or legates, but under no circumstances after the expiry of the period for which the RAD was granted. For the purposes of this agreement, “certified retiree” is defined as any RAD holder who (i) terminates employment on the ground of disability or (ii) (A), with the express permission of the committee, on the date the RAD holder reached the age of 55 and completed 10 years of service, withdraws from the employment relationship in the company and (B) did not violate and did not violate a cease-and-destity agreement in the form and content of the committee; and if, subsequently, the Panel finds, at its sole discretion, that a licensed retiree has breached the provisions of the Non-Participation Agreement in Acts of Competition or has committed intentional acts or omissions of gross negligence that are prejudicial or likely to interfere with the operation of the business,153 A financial or commercial situation, this licensed retiree has ninety (90) days from the date of such a finding, within which parts of one or those who are exercisable on that date may be exercised, and that not all SRs or their parties are exercised on that date are cancelled on that date. If Phantom Stocks or SARs are irrevocably promised to employees, the benefit may become taxable before employees actually receive the money. A Rabbi Trust, a separate account to fund deferred payments to employees, can help solve the cumulative revenue problem, but if the company is unable to pay creditors with existing funds, the money from those trusts will go to them.