Compensation Upon Disability. During any period that the Executive fails to perform his duties hereunder as a result of incapacity due to physical or mental illness, he shall continue to receive his full Base Compensation at the rate then in effect and his full Incentive Bonus Compensation until this Agreement is terminated pursuant to Section 10(c) hereof. Thereafter, his benefits shall be determined in accordance with the Company's Benefit Plans.
Compensation Upon Disability. During any period that Mr. Xxxxx xxxls to perform his duties hereunder as a result of incapacity due to an "impaired condition," as such term is defined in Subsection (c) of Section 5 herein (the "disability period"), Mr. Xxxxx xxxll continue to receive his full salary at the rate then in effect for the disability period until the Employment Term is terminated pursuant to Subsection (c) of Section 5 herein; provided, however, that such salary payments so made to Mr. Xxxxx xxxsuant hereto shall be reduced by the sum of the amounts, if any, payable to Mr. Xxxxx xxxor to or during this period, as the result of such incapacity, under any disability benefit plan or insurance program of U.S. Robotics in which Mr. Xxxxx xxxticipates. In the event of termination of the Employment Term pursuant to Subsection (c) (disability) of Section 5 herein, the Company shall have no further responsibilities under this Agreement except (i) to pay the value of any accrued salary or other compensation due under Section 2 herein (including any earned but unpaid bonus payment or prorata share of such earned bonus payment, but excluding deferred bonus payments based upon annual Fiscal Year performance), on the Date of Termination to Mr. Xxxxx (xx in the event of Mr. Xxxxx'x xxxsequent death, to his estate or devisee, legatee or other designee, as applicable), together with any benefits payable under all employee benefit plans, programs or arrangements of U.S. Robotics in which Mr. Xxxxx xx a participant on the Date of Termination, (ii) to pay the value of any severance compensation owed to Mr. Xxxxx (xx in the event of Mr. Xxxxx'x xxxsequent death, to his estate or devisee, legatee or other designee, as applicable), as set forth in Subsection (f)(i) of this Section 4 (which shall survive the termination of the Employment Term) and (iii) to provide for any Plan coverage or benefit continuation for Mr. Xxxxx, xxs spouse and dependents, as applicable under Section 3 herein.
Compensation Upon Disability. In the event of termination of this Agreement by reason of disability as set forth in Section 4.2 hereof, the Company shall pay to the Executive (a) the Executive’s Base Salary on the date of termination for four (4) months, payable in accordance with the provisions of Section 3.1 hereof and (b) all benefits from the Company and its employee benefit plans earned and accrued as of such termination date.
Compensation Upon Disability. During any period that Employee fails to perform his duties hereunder as a result of incapacity due to a "disabled condition," as such term is defined in Section 5(c) hereof (the "disability period"), Employee shall continue to receive his full base salary at the rate then in effect for the disability period until Employee's employment hereunder is terminated pursuant to Section 5(c) hereof; provided, however, that such salary payments so made to Employee during the first 180 days of the disability period shall be reduced by the sum of the amounts, if any, actually received by Employee prior to or during this period, as the result of such incapacity, under any disability benefit plan of the Company in which Employee participates.
Compensation Upon Disability. In the event the Executive’s employment shall terminate by reason of disability as provided in Section 6(d) above, he shall be entitled to his Accrued Obligations, including a pro-rata bonus through the date of his disability, and such disability benefits as determined in accordance with any short or long-term disability plans then in effect for executives of the Bank.
Compensation Upon Disability. If the Employment Term is terminated by the Company due to Executive’s disability, the Company shall have no further liability under this Agreement except to pay Executive (i) the value of any accrued salary or other compensation due to Executive as of the effective date of such termination, and (ii) any benefit payable under the employee benefit plans, programs and arrangements of the Company in which Executive is a participant on the date of delivery of the Notice of Termination, provided, however, that in the event Executive is paid disability benefits under any disability benefit plan of the Company in which he participates, any salary payments made to Executive during such period shall be reduced by the sum of such amounts.
Compensation Upon Disability. In the event of termination of the Executive’s employment with the Company Group for Disability,
Compensation Upon Disability. During any period following a Change in Control that Executive fails to perform his duties as a result of Disability, Company shall make the payments set forth in Section 5.5. (ii) of this Agreement.
Compensation Upon Disability. During any period that the Executive fails to perform his duties hereunder as a result of incapacity due to physical or mental illness, he shall continue to receive his full Base Salary and incentive compensation at the rate then in effect until this Agreement is terminated pursuant to Section IV.C. hereof. Thereafter, his benefits shall be determined in accordance with the Company's Pension Plan, excess benefits plan, supplemental retirement program for short service executives and disability insurance plans in which the Executive participates, or a substitute plan then in effect; provided, however, that if the Executive's employment is terminated pursuant to Section IV.C. hereof following a change in control of the Company (as defined in Section VI hereof), the Company shall pay to the Executive (a) in a cash lump sum on or before the fifth (5th) day following the Date of Termination, the amounts described in Sections IV.F(1)(a) and (d) hereof, and (b) during each month commencing with the month in which occurs the Date of Termination and through and including the month in which occurs the expiration of the Contract Term (for this purpose the Contract Term shall be determined as of the Date of Termination, but without regard to the Executive's termination for Disability), an aggregate amount in cash equal to the excess (but not less than zero) of (i) one-twenty-fourth of the aggregate amount determined under Sections IV.F.(1)(b) and (c) hereof over (ii) the aggregate amount received by the Executive during such month under the Company's long-term disability plans.
Compensation Upon Disability. In the event of termination of the Executive's employment for Disability, the Executive shall be entitled to receive: (i) the Base Salary through the Date of Termination; (ii) any unpaid Annual Bonus and Performance Bonus for any prior fiscal year; (iii) the pro rata portion of the Annual Bonus and Performance Bonus for the fiscal year in which the Date of Termination occurs; (iv) reimbursement due to Executive pursuant to Section 4(b); (v) an amount equal to three hundred (300%) percent of the average Base Salary paid or payable to the Executive hereunder for the Company's three most recent fiscal years immediately prior to the Executive's disability termination less the amount, if any, of any payments received by the Executive from any Company-funded disability insurance plan, payable in installments at least as frequent as monthly, subject to Withholding for the longer of two (2) years or the balance of the Employment Period; and (vi) the Executive and his then current spouse and minor children, if any, shall receive the same level of health/medical insurance or coverage provided immediately prior to such disability termination for the longer of two (2) years or the balance of the Employment Period, with the cost of such continued insurance or coverage being borne by the Company. In addition, all options granted to the Executive to purchase shares of common stock of the Company, whether granted pursuant to this Agreement or granted at any time prior hereto or hereafter, then held by the Executive shall immediately vest and become exercisable until the later of the fifth anniversary of the Date of Termination or January 12, 2009.
