Common use of Payment Upon Disability or Death Clause in Contracts

Payment Upon Disability or Death. Upon termination of the employment of Executive due to death or Disability during the Term, Company shall pay an amount equal to all accrued but unpaid Base Salary through the date of termination of employment, plus a portion of the Average Annual Incentive Compensation (as defined in Section 10.2(d) below) pro-rated for the year through the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Checkpoint Systems Inc), Employment Agreement (Checkpoint Systems Inc)

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Payment Upon Disability or Death. Upon termination of the employment of Executive due to death or Disability during the Term, the Company shall pay an amount equal to all accrued but unpaid Base Salary through the date of termination of employment, plus a cash payment equal to portion of the Average Annual Incentive Compensation (as defined Opportunity in Section 10.2(d) below) pro-rated effect for the year but no less than 150% of Executive’s Base Salary prorated for the year through the date of termination.

Appears in 1 contract

Samples: Employment Agreement (SLM Corp)

Payment Upon Disability or Death. Upon termination of the employment of Executive due to death or Disability during the Term, the Company shall pay an amount equal to all accrued but unpaid Base Salary through the date of termination of employment, plus a portion of the Average Target Annual Incentive Compensation (as defined in Section 10.2(d) below11.2(d)) pro-rated for the year through the date of termination.

Appears in 1 contract

Samples: Employment Agreement (SLM Corp)

Payment Upon Disability or Death. Upon termination of the employment of Executive due to death or Disability during the Term, the Company shall pay an amount equal to all accrued but unpaid Base Salary through the date of termination of employment, plus a portion of the Average Target Annual Incentive Compensation (as defined in Section 10.2(d) below13.2(c)) pro-rated for the year through the date of termination.

Appears in 1 contract

Samples: Employment Agreement (SLM Corp)

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Payment Upon Disability or Death. Upon termination of the employment of Executive due to death Death or Disability during the Term, Company shall pay an amount equal to all accrued but unpaid Base Salary through the date of termination of employment, plus a portion of the Average Annual Incentive Compensation (as defined in Section 10.2(d) below) pro-rated for the year through the date of termination.

Appears in 1 contract

Samples: Employment Agreement (Checkpoint Systems Inc)

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