Common use of If by the Company for Disability Clause in Contracts

If by the Company for Disability. If the Company terminates the Executive’s employment by reason of the Executive’s Disability during the Post-Change Period, this Agreement shall terminate without further obligations to the Executive, other than a. the Company’s obligation immediately to pay the Executive in cash all Accrued Obligations, and b. the Executive’s right after the Disability Effective Date to receive disability and other benefits at least equal to the greater of (1) those provided under the most favorable disability Plans applicable to disabled peer executives of the Company in effect immediately before the Termination Date or (2) those provided under the most favorable disability Plans of the Company in effect at any time during the 90-day period immediately before the Effective Date.

Appears in 6 contracts

Samples: Change of Control Severance Agreement (Metris Companies Inc), Change of Control Severance Agreement (Metris Companies Inc), Change of Control Severance Agreement (Metris Companies Inc)

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If by the Company for Disability. If the Company terminates the Executive’s 's employment by reason of the Executive’s 's Disability during the Post-Change Period, this Agreement shall terminate without further obligations to the Executive, other than a. (a) the Company’s 's obligation immediately to pay the Executive in cash all Accrued Obligations, and b. (b) the Executive’s 's right after the Disability Effective Date to receive disability and other benefits at least equal to the greater of (1) those provided under the most favorable disability Plans applicable to disabled peer executives of the Company in effect immediately before the Termination Date or (2) those provided under the most favorable disability Plans of the Company in effect at any time during the 90-day period immediately before the Effective Date.

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Fingerhut Companies Inc), Change of Control Severance Agreement (Fingerhut Companies Inc), Change of Control Agreement (Fingerhut Companies Inc)

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If by the Company for Disability. If the Company terminates the Executive’s 's employment by reason of the Executive’s 's Disability during the Post-Change Period, this Agreement shall terminate without further obligations to the Executive, other than a. the Company’s 's obligation immediately to pay the Executive in cash all Accrued Obligations, and b. the Executive’s 's right after the Disability Effective Date to receive disability and other benefits at least equal to the greater of (1) those provided under the most favorable disability Plans applicable to disabled peer executives of the Company in effect immediately before the Termination Date or (2) those provided under the most favorable disability Plans of the Company in effect at any time during the 90-day period immediately before the Effective Date.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Metris Companies Inc)

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