Common use of Compensation Upon Termination Death or During Disability Clause in Contracts

Compensation Upon Termination Death or During Disability. (a) During any period that the Executive fails to perform his duties hereunder as a result of incapacity due to physical or mental illness ("disability period"). the Executive shall continue to receive his full salary at the rate then in effect for such period (and shall not be eligible for payments under the disability plans, programs and policies maintained by the Company or in connection with employment by the Company ("Disability Plans")) until his employment is terminated pursuant to Section 7(b) hereof, and upon such termination, the Executive shall, within ten (10) days of such termination, be entitled to all amounts to which the Executive is entitled pursuant to short-term Disability Plans. The Executive's rights under any long-term Disability Plan shall be determined in accordance with the provisions of such plan.

Appears in 5 contracts

Samples: Employment Agreement (Capital Re Corp), Employment Agreement (Capital Re Corp), Employment Agreement (Capital Re Corp)

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