Disability of the Executive. In the event the Executive's employment is terminated as a result of the Executive's disability, the Company shall have no further obligations or liabilities under this Agreement except that the Company shall pay the following to the Executive if the Executive satisfies the terms of Section 14: (a) for the lesser of twelve (12) months or the unexpired portion of the Term, the Executive's Salary, reduced by any payments to be received by the Executive under the Company's Executive Long-Term Disability Plan for the same period; (b) all unvested, prior Long-Term Incentive awards; (c) the Annual Incentive and Long-Term Incentive awards for the year of disability, based upon the achievement of the performance goals for the plans for the entire year of disability prorated to reflect the full number of months the Executive was employed during that year; (d) for the remainder of the year of disability, an amount equal to the Target Annual Incentive and Target Long-Term Incentive opportunity which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability; (e) for the lesser of twelve (12) months or the unexpired portion of the Term, the medical and dental plan benefits and DEC plan core and cash credits for which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability; and (f) the Replacement Ratio SERP Benefit payable under Section 5.
Appears in 3 contracts
Samples: Employment Agreement (Anthem Inc), Employment Agreement (Anthem Inc), Employment Agreement (Anthem Inc)
Disability of the Executive. In the event the Executive's employment is terminated as a result of the Executive's disabilityDisability, except as otherwise provided herein, the Company shall have no further obligations or liabilities under this Agreement except that the Company shall pay the following to the Executive if the Executive satisfies the terms of Section 1415:
(a) for the lesser of twelve (12) months or the unexpired portion of the Term, the Executive's Salary, reduced by any payments to be received by the Executive under the Company's Executive Long-Term Disability Plan for the same period;
(b) all unvested, prior Long-Term Incentive awards;
(c) the Annual Incentive and Long-Term Incentive awards for the year of disabilityDisability, based upon the achievement of the performance goals (or, in the year in which the Closing Date occurs, based upon target performance, if greater) for the plans for the entire year of disability Disability prorated to reflect the full number of months the Executive was employed during that year;
(d) for the remainder of the year of disabilityDisability, an amount equal to the Target Annual Incentive and Target Long-Term Incentive opportunity which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disabilityDisability;
(e) for the lesser of twelve (12) months or the unexpired portion of the Term, the medical and dental plan benefits and DEC plan core and cash credits for which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disabilityDisability; and
(f) the Replacement Ratio SERP Benefit payable under Section 5Payment.
Appears in 1 contract
Samples: Employment Agreement (Anthem Inc)
Disability of the Executive. In the event the Executive's employment is terminated as a result of the Executive's disability, the Company shall have no further obligations or liabilities under this Agreement except that the Company shall pay the following to the Executive if the Executive satisfies the terms of Section 1413:
(a) for the lesser of twelve six (126) months or the unexpired portion of the Term, the Executive's Salary, reduced by any payments to be received by the Executive under the Company's Executive Long-Term Disability Plan for the same period;
(b) all unvested, prior Long-Term Incentive awards;
(c) the Annual Incentive and Long-Term Incentive awards for the year of disability, based upon the achievement of the performance goals for the plans for the entire year of disability prorated to reflect the full number of months the Executive was employed during that year;
(d) for the remainder of the year of disability, an amount equal to the fifty percent (50%) of any Target Annual Incentive and Target Long-Term Incentive opportunity which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability;; and
(e) for the lesser of twelve six (126) months or the unexpired portion of the Term, the medical and dental plan benefits and DEC plan core and cash credits for which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability; and
(f) the Replacement Ratio SERP Benefit payable under Section 5.
Appears in 1 contract
Samples: Employment Agreement (Anthem Inc)
Disability of the Executive. In the event the Executive's employment is terminated as a result of the Executive's disability, the Company shall have no further obligations or liabilities under this Agreement except that the Company shall pay the following to the Executive if the Executive satisfies the terms of Section 1413:
(a) for the lesser of twelve six (126) months or the unexpired portion of the Term, the Executive's Salary, reduced by any payments to be received by the Executive under the Company's Executive Long-Term Disability Plan for the same period;
(b) all unvested, prior Long-Term Incentive awards;
(c) the Annual Incentive and Long-Term Incentive awards for the year of disability, based upon the achievement of the performance goals for the plans for the entire year of disability prorated to reflect the full number of months the Executive was employed during that year;
(d) for the remainder of the year of disability, an and amount equal to the fifty percent (50%) of any Target Annual Incentive and Target Long-Term Incentive opportunity which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability;; and
(e) for the lesser of twelve six (126) months or the unexpired portion of the Term, the medical and dental plan benefits and DEC plan core and cash credits for which the Executive would otherwise have been eligible to receive as of the effective date of the Executive's disability; and
(f) the Replacement Ratio SERP Benefit payable under Section 5.
Appears in 1 contract
Samples: Employment Agreement (Anthem Inc)