Common use of Adjustment to Certain Subparagraph (b) Compensation and Benefits Clause in Contracts

Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive suffers a Disability during the remaining term of this Agreement following the Date of Termination, the Company or any Affiliate’s obligation to pay or fund any disability insurance premiums on his behalf shall be suspended while his Disability continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to the Company or any Affiliate.

Appears in 12 contracts

Samples: Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc)

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Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive suffers a Disability during the remaining term of this Agreement following the Date of Termination, the Company or any an Affiliate’s obligation to pay or fund any disability insurance premiums on his behalf shall be suspended while his Disability continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to by the Company or any an Affiliate.

Appears in 12 contracts

Samples: Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc)

Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive suffers a Disability during the remaining term of this Agreement year following the Date of Termination, the Company or any Affiliate’s obligation to pay or fund any disability insurance premiums on his behalf shall be suspended while his Disability continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to the Company or any Affiliate.

Appears in 3 contracts

Samples: Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc)

Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive suffers a Disability during the remaining term of this Agreement one year following the Date of Termination, the Company or any an Affiliate’s obligation to pay or fund any disability insurance premiums on his behalf shall be suspended while his Disability continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to by the Company or any an Affiliate.

Appears in 3 contracts

Samples: Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc), Employment Agreement (Mercer Insurance Group Inc)

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Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive ,suffers a Disability disability during the remaining term of this Agreement following the Date of Termination, the Company or any Affiliate’s Old Guard's obligation to pay or fund any disability insurance premiums on his behalf shall be suspended while his Disability Disability. continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to the Company or any Affiliateby old Guard.

Appears in 1 contract

Samples: Employment Agreement (Old Guard Group Inc)

Adjustment to Certain Subparagraph (b) Compensation and Benefits. In the event the Executive suffers a Disability during the remaining term of this Agreement following the Date of Termination, the Company or any Affiliate’s Old Guard's obligation to pay or fund any disability insurance premiums premium* on his behalf shall be suspended while his Disability continues, provided the cessation of payment or funding does not result in the termination of disability benefits. Any amounts described in Paragraph 6(b) and otherwise payable under Subparagraph (b) shall be reduced (but not below zero) by the dollar amount of disability benefits received by him pursuant to plans or policies funded, directly at its cost, to the Company or any Affiliateby Old Guard.

Appears in 1 contract

Samples: Employment Agreement (Old Guard Group Inc)

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