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 Employment Period, this Agreement shall terminate without further obligation to the Executive, other than: (a) the Company shall pay the Executive in cash all amounts specified in Sections 5.1(a)(i), (ii), (iii) and 5(b), in each case, to the extent unpaid as of the Termination Date (such amounts collectively, the "Accrued Obligations"), (b) the Executive shall be fully vested in the Company's Supplemental Plans and shall be entitled to immediate payment of any benefits under the Supplemental Plans; and (c) 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 4 contracts

Samples: Employment Continuity Agreement (Dominion Resources Inc /Va/), Employment Continuity Agreement (Virginia Electric & Power Co), Employment Continuity Agreement (Dominion Resources Inc /Va/)

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If by the Company for Disability. If the Company terminates the -------------------------------- Executive's employment by reason of the Executive's Disability during the Employment Period, this Agreement shall terminate without further obligation to the Executive, other than: (a) the Company shall Company's obligation immediately to pay the Executive in cash all amounts specified in Sections 5.1(a)(iclauses (1), (ii), (iii2) and 5(b(3) of Section 5.1(a), in each case, to the extent unpaid as of the Termination Date (such amounts collectively, the "Accrued Obligations"),, and (b) the Executive shall be fully vested in the Company's Supplemental Plans and shall be entitled to immediate payment of any benefits under the Supplemental Plans; and (c) 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 1 contract

Samples: Change in Control Agreement (Commonwealth Edison Co)

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