Common use of Compensation Upon Termination For Disability or Death Clause in Contracts

Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his monthly Base Salary then in effect for one (1) year after his termination, reduced by any amounts which he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active employment during the termination year.

Appears in 3 contracts

Samples: Agreement (Ace Comm Corp), Agreement (Ace Comm Corp), Agreement (Ace Comm Corp)

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Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s 's employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his monthly Base Salary then in effect for one (1) year after his termination, reduced by any amounts to which he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active employment during the termination year.

Appears in 2 contracts

Samples: Agreement (DRS Technologies Inc), Agreement (DRS Technologies Inc)

Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s 's employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his monthly Base Salary then in effect for one (1) year after his termination, reduced by any amounts to which he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active employment during the termination year.

Appears in 1 contract

Samples: Agreement (DRS Technologies Inc)

Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his monthly Base Salary then in effect for one (1) year after his termination, reduced by any amounts to which he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below Bonus otherwise due corresponding to the period of his active employment during the termination yearyear and accrued but unpaid vacation time.

Appears in 1 contract

Samples: Agreement (Ads in Motion, Inc.)

Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s employment due to permanent disability, pursuant to Subsection Section 5.2(a) herein, the Company shall pay the Executive his monthly Accrued Obligations and a lump sum payment equal to his annual Base Salary then in effect for one (1) year after his terminationSalary; provided, reduced by that the Executive shall repay the Company any amounts which (up to the total amount of the lump sum payment) that he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active employment during the termination yeartwelve month period following the date of termination.

Appears in 1 contract

Samples: Agreement (DRS Technologies Inc)

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Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his monthly Base Salary then in effect for one two (12) year years after his termination, reduced by any amounts which he actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active employment during the termination year.

Appears in 1 contract

Samples: Agreement (Ace Comm Corp)

Compensation Upon Termination For Disability or Death. (i) If the Company terminates the Executive’s 's employment due to permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall pay the Executive his her monthly Base Salary then in effect for one (1) year after his her termination, reduced by any amounts to which he she actually receives under any disability plan maintained by the Company and shall pay the Executive when due, a pro-rata portion of the bonus determined pursuant to (iii) below corresponding to the period of his active her employment during the termination year.

Appears in 1 contract

Samples: Employment Agreement (DRS Technologies Inc)

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