Common use of Termination by Reason of Disability or Death Clause in Contracts

Termination by Reason of Disability or Death. If the Executive’s employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s estate) when bonuses are paid for the year of termination a pro-rated amount of the Executive’s Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 7 contracts

Samples: Employment Agreement (Monster Worldwide, Inc.), Employment Agreement (Monster Worldwide, Inc.), Employment Agreement (Monster Worldwide, Inc.)

AutoNDA by SimpleDocs

Termination by Reason of Disability or Death. If the Executive’s employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s estate) ), when bonuses are paid for the year of termination termination, a pro-rated amount of the Executive’s Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 2 contracts

Samples: Employment Agreement (Monster Worldwide, Inc.), Employment Agreement (Monster Worldwide, Inc.)

Termination by Reason of Disability or Death. If the Executive’s employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s estate) when bonuses are paid for the year of termination a pro-rated amount of the Executive’s Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 1 contract

Samples: Employment Agreement (Symbol Technologies Inc)

Termination by Reason of Disability or Death. If the Executive’s 's employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s 's estate) when bonuses are paid for the year of termination a pro-rated amount of the Executive’s 's Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the "Pro-Rata Bonus"), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 1 contract

Samples: Employment Agreement (Symbol Technologies Inc)

AutoNDA by SimpleDocs

Termination by Reason of Disability or Death. If the Executive’s employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or the Executive’s estate) when bonuses are paid for the year of termination a pro-rated amount of the Executive’s Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 1 contract

Samples: Employment Agreement (Monster Worldwide, Inc.)

Termination by Reason of Disability or Death. If the Executive’s 's employment shall terminate by reason of his Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s 's estate) when bonuses are paid for the year of termination a pro-rated amount of the Executive’s 's Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii).

Appears in 1 contract

Samples: Employment Agreement (Monster Worldwide, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.