Common use of Continuation of Base Salary Clause in Contracts

Continuation of Base Salary. An amount equal to (A) the Base Salary (at the rate in effect as of the date of Executive's Total Disability) which would have been payable to Executive if Executive had continued in active employment until the end of the 12-month period following Executive's Termination Date, or such longer period as may be determined by the Board, (B) reduced by amount of disability insurance benefits payable to Executive during such period under any employer-paid disability insurance plan. Payment shall be made at the same time and in the same manner as such compensation would have been paid if Executive had remained in active employment until the end of such period.

Appears in 5 contracts

Samples: Employment Agreement (Ogden Corp), Employment Agreement (Ogden Corp), Employment Agreement (Ogden Corp)

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