Salary and Benefit Continuation. The Company will pay Executive severance in the form of Base Salary continuation for a six (6) month period following Executive’s last day of employment. These salary continuation payments will be paid on the Company’s regular payroll schedule and subject to standard deductions and withholdings over the applicable period following termination; provided, however, that no payments will be made prior to the 60th day following Executive’s termination. On the 60th day following Executive’s termination date, the Company will pay Executive in a lump sum the salary continuation payments that Executive would have received on or prior to such date under the original schedule but for the delay while waiting for the release deadline, with the balance of the cash severance being paid as originally scheduled. Each such installment will be deemed a separate “payment” for purposes of Section 409A of the Code. In addition, Executive shall have the right to continue his health insurance benefits pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or successor statute and any analogous provisions of applicable state law. Provided that Executive makes a timely and accurate election for continued health insurance coverage (including medical, dental, vision and prescription) under COBRA (or any state law of similar effect), the Company will pay the premiums for such continued coverage for Executive and his eligible dependents for the first six (6) months of such coverage, or such earlier date as Executive (or his dependents, as applicable) ceases to be eligible for such continuation coverage.
Salary and Benefit Continuation. If Employee’s employment by Company is terminated pursuant to clause (a), (b), (d) or (e) of Section 3.1, Company shall continue to pay to Employee the Base Salary (less any payments received by Employee from any disability income insurance policy provided to Employee by Company) and shall continue to provide health insurance benefits for Employee (such continued Base Salary and health insurance benefits, together, the “Continued Benefits”) for three (3) months from the date of the termination. If this Agreement is terminated pursuant to clauses (c) or (f) of Section 3.1, Employee’s right to Base Salary and any benefits shall immediately terminate, except as may otherwise be required by applicable law. Notwithstanding the foregoing provisions of this Section 3.6, Employee shall only be entitled to receive the Continued Benefits if Employee signs a release of all other claims arising out of this Agreement in a form reasonably acceptable to both Company and Employee (the “Release”). If Employee does not sign the Release, or Employee signs the Release and then revokes or rescinds, Employee shall not be entitled to receive any Continued Benefits under the provisions of this Section 3.6 from the date of termination of Employee’s employment with Company. If, after termination and while any Continued Benefits are being paid, Employee violates any of the provisions of ARTICLE 2 or Section 3.5, any obligation of Company under this Section 3.6 (which can only arise if Employee signs, and does not revoke or rescind, an effective Release) shall cease on the date of such violation.
Salary and Benefit Continuation. The Company shall continue to pay to Employee all compensation and all benefits set forth in Sections 3(a), 3(c)(i), (ii), (iv), and (v) and (vi), from the date Employee is declared permanently and totally disabled and unable to perform the duties required under the Agreement, until the date on which Employee commences to receive benefits under the long-term disability plan provided pursuant to Section 3(c)(iii). Following commencement of the payment of benefits under Section 3(c)(iii), the Company will pay to Employee fifty percent (50%) of Employee s annual base salary as set forth in Section 3(a) for an additional thirty-six (36) consecutive months, regardless of the then-remaining term of Employee s employment under the Agreement. Furthermore, in the event of such disability:
(i) the benefits described in Sections 3(c)(ii) and 3(c)(iv) will continue as if Employee had continued to render services pursuant to the Agreement and shall remain in effect for a minimum of thirty-six (36) calendar months after the date of any such disability; and
(ii) the benefits described in Section 3(c)(v) will continue to the extent that any portion of the allowance for professional fees and clubs set forth in such Section 3(c)(v) remains unused for the calendar year in which such disability occurs and the Company shall not be entitled to reimbursement of any such allowance paid prior to the disability. To the extent the Company may not continue the benefits described in this Section 3(d) after termination of employment for legal or insurance underwriting reasons, the Company shall provide
Salary and Benefit Continuation. The Company will continue to pay to Employee compensation as provided in Section 3.1 hereunder at the full rate for a period of six months after Employee is declared permanently and totally disabled and unable to perform the duties of Executive Vice President of the Company. Thereafter, the Company will pay to Employee 25% of Employee's annual salary as provided in Section 3.1 hereunder for an additional 12 consecutive months or until the regular expiration (without regard to any automatic extension) of this Agreement, whichever is earlier. Furthermore, in the event of such permanent and total disability, the benefits described in Section 3.3.1 will continue as if Employee had continued to render services pursuant to this Agreement throughout its term, and the benefits described in Section 3.3.4 will continue in accordance with the terms of this Agreement. For purposes of this Section, the determination of whether or not Employee is declared permanently and totally disabled shall be made by Employee's physician, by written notice to the Board of Directors. In the event the Board of Directors disagrees with the determination by Employees' physician, the Board of Directors will appoint, at the Company's expense, another physician to make such determination. If the physician so appointed by the Board of Directors disagrees with the determination made by Employee's physician, then the two physicians shall appoint a mutually acceptable third physician, at the Company's expense, to make the final determination of whether Employee is permanently and totally disabled, which determination will be binding upon all parties hereto.
Salary and Benefit Continuation. After the Termination Date and seven (7) days following your acceptance and execution of this Agreement (within which you have not revoked that acceptance), and after confirmation that you have returned any and all WWE-owned property to Human Resources, you will be paid eighteen (18) months of your base salary (on a bi-weekly basis) as of the Termination Date, less applicable withholdings and deductions, in accordance with WWE’s regular payroll procedures and dates (“Salary Continuation Period”). During that portion of the Salary Continuation Period you remain eligible for, and on the condition that you timely elect, group health insurance coverage continuation pursuant to COBRA, WWE shall pay the portion of your COBRA premium in the same percentage as it paid toward your health insurance premium during your employment. All other employee benefits shall cease immediately as of your Termination Date.
Salary and Benefit Continuation. (i) For the period from the Resignation Date through the Separation Date, the Company shall continue to pay Executive's base salary. Medical/health insurance, dental insurance and vision insurance as currently provided will continue through December 31, 2012 subject to the terms of this Agreement.
(ii) The Company agrees that the Executive may qualify for a cash incentive bonus (referred to as “short term incentive”) determined on a pro-rata basis for 2012, with the pro-ration being calculated on the Executive's employment by the Company from January 1, 2012 until the Separation Date. The amount of any such bonus payable to employees salary grade 45 and higher (which group includes Executive) is based upon specific articulated goals and measurements and is payable at the sole discretion of the Board of Directors of the Company. The Company and Executive understand and agree that payment of any such short term incentive to any individual employee does not require any payment to any other employee, but that if the Company pays any short term incentive to any employee salary grade 51 or higher, that Company will pay the same percentage of the pro rata amount otherwise payable to Executive.
Salary and Benefit Continuation a. Company shall continue to pay Executive at the rate of $600,000 per annum for fifty-two weeks, by installments in accordance with the Company’s regular payroll practices, beginning immediately after the Effective Date; provided, however, that any balance of such payments that would otherwise be due to Executive on or after March 10, 2006 shall be paid to Executive in a lump sum no later than March 10, 2006 (it being the parties’ intent that payment of such amount will be accelerated).
b. During the period April 1, 2005 through and including June 30, 2006, Company shall provide coverage for the Executive and her dependents under Company’s medical and dental benefits plans provided to senior executives of the Company and shall pay the Company portion of the insurance premiums for coverage, subject to the Executive’s payment of the applicable employee portion of such premiums. Executive shall have the opportunity to elect COBRA continuation health care coverage for a period beginning no earlier than July 1, 2006 and continuing for so long as otherwise required by law. To the extent provided by the terms of the applicable employee benefit plans, Executive will be offered the opportunity to convert her group benefits to individual coverage at non-group rates.
Salary and Benefit Continuation. The Company shall continue to pay to Employee all compensation and all benefits set forth in Sections 3(a), 3(c)(i), (ii), (iv), (v) and (vi), from the date Employee is declared permanently and totally disabled and unable to perform the duties required under the Agreement, until
Salary and Benefit Continuation. The Company will continue Employee's compensation (base salary and cash incentive compensation) at the full rate and in bi-monthly installments for a period of twelve (12) months after Employee is declared permanently and totally disabled (including by reason of Employee's death) and unable to perform the duties of Chairman of the Board of the Company. Thereafter the Company will pay to Employee seventy-five percent (75%) of Employee's annual salary, payable in
Salary and Benefit Continuation a. For a period of five years from the Effective Date of Retirement (such period the "Continuation Period"), Employer shall make severance payments to Executive at the annual rate of $286,998.91. Such payments will be made in installments in accordance with Employer's then applicable payroll practices for senior executives, and shall be reduced for applicable withholding. Should the Executive die during the Continuation Period, Employer shall continue making such payments for the remainder of such period to such primary or contingent beneficiaries as Executive shall have designated in writing to the Employer, referring to this Section of this Agreement, or, in the event no such designation shall be in effect at the Executive's death, to the Executive's spouse at the time of his death, or in the event no spouse shall survive him, to the Executive's estate.
b. During the Continuation Period Employer shall also continue to provide at its expense coverage for Executive and his family under Employer's health, dental and life insurance plans then in effect for its senior executives as set forth in the Change of Control Agreement (as hereinafter defined). Notwithstanding the foregoing, if as of the Effective Date of Retirement or at any time thereafter during the Continuation Period, Employer cannot represent to Executive that such plans are non-discriminatory within the meaning of Section 105(h) of the Internal Revenue Code of 1986, as amended, then Employer shall provide such coverage to the Executive and his family through the purchase by Employer of individual insured plans as set forth in the Change of Control Agreement. Should the Executive die during the Continuation Period, Employer shall continue to provide such medical and dental coverage for the remainder of such period to Executive's spouse at the date of his death. The Continuation Period shall be co-extensive with, and shall fully discharge Employer's obligations to provide, any period of "continuation coverage" to which Executive (or any of his dependents or beneficiaries) may be entitled pursuant to Section 4980B of the Internal Revenue Code of 1986, as amended. To the extent provided by law or the terms of the applicable employee benefit plans, Executive will be offered the opportunity at the end of the Continuation Period to convert his group benefits to individual coverage, at his expense, at non-group rates, if such coverage is available.
