Compensation and Benefits Payable Upon Termination. (a) Upon Employee’s death, the Bank shall pay Employee’s full base salary in accordance with the terms set forth in Section 5(c) below. In addition, the Bank shall continue to pay for and provide to Employee’s spouse and eligible dependents hospitalization insurance (including major medical), and any such other health insurance benefits comparable to that coverage that would have been provided under the Bank’s group health insurance plan to Employee’s spouse and eligible dependents at the date of Employee’s death, at such time in accordance with the terms set forth in Section 5(c).
Compensation and Benefits Payable Upon Termination. (a) Upon Xxxxxxxx’ termination of employment for any reason, the Company shall pay Xxxxxxxx his full salary and other accrued benefits set forth in Section 3 through the date of termination, and, except as provided in Sections 3(ii), 3(x), 5(b) and 5(c), no other compensation or benefits shall be paid to Xxxxxxxx hereunder; provided, however, that nothing herein shall be deemed to limit Xxxxxxxx’ rights under any other benefit, life insurance, retirement, 401(k), or pension plan of the Company, and the terms of those plans, programs, or arrangements shall govern.
Compensation and Benefits Payable Upon Termination. Upon termination of this Agreement for any reason, the Company will pay to the Executive any unpaid pro rata amount of the Base Salary and expenses submitted in accordance with this Agreement up to the Termination Date, and the payment of any amounts required under applicable employment standards legislation. The Executive will be entitled to the continuation of benefits if and as required under the minimum requirements of applicable employment standards legislation. (g)
Compensation and Benefits Payable Upon Termination. (a) Upon Executive's death, the Bank shall pay Executive's full base salary in accordance with the terms set forth in Section 5(c) below. In addition, the Bank shall continue to pay for and provide to Executive's spouse and eligible dependents hospitalization insurance (including major medical), and any such other health insurance benefits comparable to that coverage that would have been provided under the Bank's group health insurance plan to Executive's spouse and eligible dependents at the date of Executive's death, at such time in accordance with the terms set forth in Section 5(c). (b) In the event Executive becomes permanently disabled and is terminated as set forth in Section 4(b) above, the Bank shall pay to Executive compensation and benefits as set forth in Section 5(c) below, provided that Executive's base salary shall be reduced by any amounts received by Executive under the Bank's long term disability plan or from any other collateral source payable due to disability, including, without limitation, social security benefits. If Executive shall remain permanently disabled beyond the period set forth in Section 5(c) below, Executive shall receive only such amounts, if any, as are payable under the Bank's long term disability plan or under any other employee benefit or welfare plan in which Executive participated and is entitled to benefits. (c) If Executive's employment shall be terminated by Executive pursuant to Sections 4(d), (e), (f) or (g), or by the Bank for any reason other than for cause as set forth in Section 4(c), the Bank shall continue to pay to Executive or his estate or beneficiaries his full base salary (including any other cash compensation) to which Executive would be entitled at the Termination Date or on the date of a Change in Control, whichever date will result in the greater base salary, for a period of two (2) years following the Termination Date. In addition, the Bank shall continue to pay his and his dependents' (to the extent provided in Section 3(iii) hereof, hospitalization insurance premiums (including major medical), long term disability premiums and life insurance premiums for a period of two (2) years or until his earlier death. The compensation and benefits payable under this Section 5(c) are hereinafter referred to as "Severance Benefits." The payment of Severance Benefits is in recognition and consideration of the continued services by Executive to the Bank and the Company and is not in any way to be construed ...
Compensation and Benefits Payable Upon Termination. (a) Upon Executive's death, the Bank shall pay Executive's full base salary in accordance with the terms set forth in Section 5(c) below. In addition, the Bank shall continue to pay for and provide to Executive's spouse and eligible dependents hospitalization insurance (including major medical), and any such other health insurance benefits comparable to that coverage that would have been provided under the Bank's group health insurance plan to Executive's spouse and eligible dependents at the date of Executive's death, at such time in accordance with the terms set forth in Section 5(c).
Compensation and Benefits Payable Upon Termination. If Costa's employment with the Company is terminated pursuant to Section 4 hereof prior to December 31, 2001 and in the absence of a Change in Control regardless of the circumstances of the termination, then Costa shall be entitled to: (i) his base salary until December 31, 2001; (ii) any annual bonus to which he may be entitled, prorated to the date of termination; and (iii) continued participation until December 31, 2001, in all Company benefit plans and programs in which Costa was entitled to participate immediately prior to the termination of his employment at no greater cost to Costa than the cost he bore for such participation immediately prior to the termination. If Costa's participation in any such plans and programs is barred, then the Company shall arrange upon comparable terms, and at no greater cost to Costa than the cost he bore for such plans and programs prior to the termination date, to provide Costa with benefits substantially similar to, or greater than, those which he is entitled to receive under any such plan or program. Except in the event of termination for cause pursuant to Section 4(c), any termination of Costa's employment will be deemed to be a retirement (including specifically for purposes of any stock option plan pursuant to which options have been issued to Costa). In addition, after December 31, 2001, the Company shall pay for medical insurance for Costa until such time as he becomes eligible for Medicare coverage and shall pay for medical insurance for his spouse until such time as she becomes eligible for Medicare coverage. Said medical insurance coverage shall be comparable to that coverage provided to Costa and his spouse during the time he was employed by the Company. Costa shall be required to contribute to the cost of such medical insurance at the same premium rates as are paid by other management level employees of the Company for comparable coverage. In the event the Company breaches its obligations under this Agreement, Costa has no obligation to mitigate damages.
Compensation and Benefits Payable Upon Termination. (a) Upon Gillings' termination of employment for any reason, the Company shall xxx Xxxlings his full salary and other accrued benefits set forth in Sectxxx 0 xxrough the date of termination, and, except as provided in Sections 3(ii), 3(x), 5(b) and 5(c), no other compensation or benefits shall be paid to Gillings hereunder; provided, however, that nothing herein shall be dxxxxx xx limit Gillings' rights under any other benefit, life insurance, retirement, 000(x), or pension plan of the Company, and the terms of those plans, programs, or arrangements shall govern.
Compensation and Benefits Payable Upon Termination. (a) Upon Xxxxx' death during the Initial Term or any Renewal Term of this Agreement, CIS shall provide such death or insurance benefits as are provided in accordance with the regular policy of CIS to similarly positioned employees and pursuant to the terms of any benefit plans or arrangements maintained by CIS which provide such benefits.
Compensation and Benefits Payable Upon Termination. (a) Upon Painter's death during the Term of this Agreement, CLG shall provide such death or insurance benefits as are provided in accordance with the regular policy of CLG to similarly positioned employees and pursuant to the terms of any benefit plans or arrangements maintained by CLG which provide such benefits.
Compensation and Benefits Payable Upon Termination
