Compensation Related to Disability. During the Term of this Agreement, during any period that the Executive fails to perform the Executive's full-time duties with the Company and EEMC as a result of incapacity due to physical or mental illness, EEMC shall pay the Executive's Base Salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company or any affiliate during such period, until the Executive's employment is terminated by the Company for Disability; provided, however, that such Base Salary payments shall be reduced by the sum of the amounts, if any, payable to the Executive at or prior to the time of any such Base Salary payment under disability benefit plans of the Company or under the Social Security disability insurance program, which amounts were not previously applied to reduce any such Base Salary payment.
Appears in 2 contracts
Samples: Employment Agreement (Energy East Corp), Merger Agreement (Energy East Corp)
Compensation Related to Disability. During the Term of this Agreement, during any period that the Executive fails to perform the Executive's ’s full-time duties with the Company and EEMC IUMC as a result of incapacity due to physical or mental illness, EEMC IUMC shall pay the Executive's ’s Base Salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company or any affiliate during such period, until the Executive's ’s employment is terminated by the Company for Disability; provided, however, that such Base Salary payments shall be reduced by the sum of the amounts, if any, payable to the Executive at or prior to the time of any such Base Salary payment under disability benefit plans of the Company or under the Social Security disability insurance program, which amounts were not previously applied to reduce any such Base Salary payment.
Appears in 1 contract
Compensation Related to Disability. During the Term of this Agreement, during any period that the Executive Xxxxxxx fails to perform the Executive's Xxxxxxx’x full-time duties with the Company and EEMC as a result of incapacity due to physical or mental illness, EEMC shall pay the Executive's Xxxxxxx’x Base Salary to the Executive Xxxxxxx at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive Xxxxxxx under the terms of any compensation or benefit plan, program or arrangement maintained by the Company or any affiliate EEMC during such period, until the Executive's Xxxxxxx’x employment is terminated by the Company EEMC for Disability; provided, however, that such Base Salary payments shall be reduced by the sum of the amounts, if any, payable to the Executive Xxxxxxx at or prior to the time of any such Base Salary payment under disability benefit plans of the Company EEMC or under the Social Security disability insurance program, which amounts were not previously applied to reduce any such Base Salary payment.
Appears in 1 contract