Common use of Death or Complete Disability Clause in Contracts

Death or Complete Disability. If the Executive’s employment shall be terminated by his death or Complete Disability as provided in Section 4.1.1, the Company shall pay to Executive, and/or Executive’s heirs, all earned but unpaid Base Salary earned through the date of termination, any earned but unpaid discretionary Bonuses for any prior period at such time as bonuses would have been paid if the Executive remained employed, all accrued but unpaid business expenses, and all accrued but unused vacation time earned through the date of termination at the rate in effect at the time of termination (hereinafter collectively referred to as the “Accrued Amounts”), less standard deductions and withholdings. The Executive shall also be eligible to receive a pro-rated discretionary Bonus for the year in which the date of termination occurs, as determined by the Board or the Compensation Committee of the Board based on Executive’s then-current target Bonus and based on actual performance and the period of the year he was employed (hereinafter referred to as the “Pro-rata Bonus”), less standard deductions and withholdings, to be paid as a lump sum within thirty (30) days after the date of termination.

Appears in 2 contracts

Samples: Executive Employment Agreement (Horizon Pharma PLC), Executive Employment Agreement (Horizon Pharma PLC)

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Death or Complete Disability. If the Executive’s employment shall be terminated by his death or Complete Disability as provided in Section 4.1.1, the Company shall pay to Executive, and/or Executive’s heirs, all earned but unpaid Base Salary earned through the date of termination, any earned but unpaid discretionary Bonuses for any prior period at such time as bonuses would have been paid if the Executive remained employed, all accrued but unpaid business expenses, and all accrued but unused vacation time earned through the date of termination at the rate in effect at the time of termination (hereinafter collectively referred to as the “Accrued Amounts”), less standard deductions and withholdings. The Executive shall also be eligible to receive a pro-rated discretionary Bonus for the year in which the date of termination occurs, as determined by the Board or the Compensation Committee of the Board based on Executive’s then-current then -current target Bonus and based on actual performance and the period of the year he was employed (hereinafter referred to as the “Pro-rata Bonus”), less standard deductions and withholdings, to be paid as a lump sum within thirty (30) days after the date of termination.

Appears in 1 contract

Samples: Executive Employment Agreement (Horizon Pharma PLC)

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Death or Complete Disability. If the Executive’s employment shall be terminated by his death or Complete Disability as provided in Section 4.1.1, the Company shall pay to Executive, and/or Executive’s heirs, all earned but unpaid Base Salary earned through the date of termination, any earned but unpaid discretionary Bonuses for any prior period at such time as bonuses would have been paid if the Executive remained employed, all accrued but unpaid business expenses, and all accrued but unused vacation time earned through the date of termination at the rate in effect at the time of termination (hereinafter collectively referred to as the “Accrued Amounts”), less standard deductions and withholdings. The Executive shall also be eligible to receive a pro-rated discretionary Bonus for the year in which the date of termination occurs, as determined by the Board or the Compensation Committee of the Board based on Executive’s then-current target Bonus and based on actual performance and the period of the year he was employed (hereinafter referred to as the “Pro-rata Bonus”), less standard deductions and withholdings, to be paid as a lump sum within thirty (30) days after the date of termination.

Appears in 1 contract

Samples: Executive Employment Agreement (Horizon Therapeutics Public LTD Co)

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