Common use of Disability Income Payments Clause in Contracts

Disability Income Payments. While receiving disability income payments under the Company’s disability income insurance (if any), Executive shall not be entitled to receive any Base Salary, but shall continue to be eligible to participate in all other compensation and benefits in accordance with Sections 1.4 and 2 until the date of Executive’s termination. Notwithstanding the foregoing and in accordance with the Company’s benefit plans, Executive may be ineligible for coverage as an employee under the Company’s group health insurance plan during the period of Executive’s Disability, in which case continued coverage will be based on eligibility for COBRA or applicable state continuation coverage. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of such plan.

Appears in 6 contracts

Samples: Executive Employment Agreement (Glycomimetics Inc), Executive Employment Agreement (Glycomimetics Inc), Executive Employment Agreement (Glycomimetics Inc)

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Disability Income Payments. While receiving disability income payments under the Company’s disability income insurance (if any), Executive shall not be entitled to receive any Base Salary, but shall continue to be eligible to participate in all other compensation and benefits in accordance with Sections 1.4 and 2 until the date of Executive’s his termination. Notwithstanding the foregoing and in accordance with the Company’s benefit plans, Executive may be ineligible for coverage as an employee under the Company’s group health insurance plan during the period of Executive’s Disability, in which case continued coverage will be based on eligibility for COBRA or applicable state continuation coverage. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of such plan.

Appears in 1 contract

Samples: Executive Employment Agreement (Glycomimetics Inc)

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Disability Income Payments. While receiving disability income payments under the Company’s disability income insurance (if any), Executive shall not be entitled to receive any Base Salary, but shall continue to be eligible to participate in all other compensation and benefits in accordance with Sections 1.4 and 2 until the date of Executive’s termination. Notwithstanding the foregoing and in accordance with the Company’s benefit plans, Executive may be ineligible for coverage as an employee under the Company’s group health insurance plan during the period of Executive’s Disability, in which case continued coverage will be based on eligibility for COBRA or applicable state continuation coverage. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of such plan.

Appears in 1 contract

Samples: Executive Employment Agreement (Glycomimetics Inc)

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