You'll have to use the path argument to FastCgiSuexec. This behavior can be changed with the -singleThreshold argument to FastCgiConfig.
TERM is the standard signal sent to applications to request shutdown.
When Apache receives TERM, it does not finish handling requests in progress. I always finish any request in process before exiting. Handling signals can be tricky. Consult the documentation for your language and system for restrictions and idiosyncrasies. In general, its always best to do as little as possible from within a signal handler.