Common use of Compensation During Disability Clause in Contracts

Compensation During Disability. During any period that the Executive fails to perform the Executive’s duties hereunder as a result of incapacity due to physical or mental illness (the “Disability Period”), the Executive shall be treated as fully employed and shall continue to receive, or receive the benefit of (as the case may be) all items described in Section 5 hereof at the rate then in effect for such period until his employment is terminated pursuant to Section 9(b)(i) hereof; provided, that payments made to the Executive during the first 180 days of the Disability Period shall be reduced by the sum of the amounts, if any, payable to the Executive at or prior to the time of any payment under disability benefit plans of the Company and which amounts were not previously applied to reduce any payment.

Appears in 2 contracts

Samples: Employment Agreement (Danaher Corp /De/), Employment Agreement (Danaher Corp /De/)

AutoNDA by SimpleDocs

Compensation During Disability. During any period that the Executive fails to perform the Executive’s duties hereunder as a result of incapacity due to physical or mental illness (the “Disability Period”), the Executive shall be treated as fully employed and shall continue to receive, or receive the benefit of (as the case may be) ), all items described in Section 5 hereof at the rate then in effect for such period until his employment is terminated pursuant to Section 9(b)(i13(b)(i) hereof; provided, that payments made to the Executive during the first 180 days of the Disability Period shall be reduced by the sum of the amounts, if any, payable to the Executive at or prior to the time of any payment under disability benefit plans of the Company and which amounts were not previously applied to reduce any payment.

Appears in 2 contracts

Samples: Employment Agreement (General Electric Co), Employment Agreement (General Electric Co)

AutoNDA by SimpleDocs

Compensation During Disability. During any period that the ------------------------------ Executive fails to perform the Executive’s 's duties hereunder as a result of incapacity due to physical or mental illness (the "Disability Period"), the Executive shall be treated as fully employed and shall continue to receive, or receive the benefit of (as the case may be) all items described in Section 5 hereof at the rate then in effect for such period until his employment is terminated pursuant to Section 9(b)(i) hereof; provided, that payments made to the Executive during -------- the first 180 days of the Disability Period shall be reduced by the sum of the amounts, if any, payable to the Executive at or prior to the time of any payment under disability benefit plans of the Company and which amounts were not previously applied to reduce any payment.

Appears in 1 contract

Samples: Employment Agreement (Danaher Corp /De/)

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