Common use of Termination as a Result of Disability Clause in Contracts

Termination as a Result of Disability. In the event of any termination of this Agreement pursuant to Section 7.2 hereof, The Orchard shall continue to pay Executive his Base Salary under Section 6.1 hereof at Executive’s then-current salary and maintain his benefits under Section 6.2 hereof (i) through the remaining term of this Agreement which ends on the third anniversary of the Effective Date, or (ii) for six (6) months, whichever period is shorter. In the event of a disability termination pursuant to Section 7.2 hereof, Executive will not be eligible to receive any ongoing benefits subsequent to the effective date of termination, other than continued participation in any applicable The Orchard disability plan, nor will there be any proration of any potential annual incentive bonus under Section 6.3 hereof for the fiscal year in which such termination occurs; provided, however, that The Orchard will continue to pay accrued but unpaid salary, accrued vacation and any other accrued but unpaid benefits and unreimbursed expenses through the last day of the month in which Executive’s termination occurs.

Appears in 3 contracts

Samples: Employment Agreement (Orchard Enterprises, Inc.), Employment Agreement (Orchard Enterprises, Inc.), Employment Agreement (Orchard Enterprises, Inc.)

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Termination as a Result of Disability. In the event of any termination of this Agreement pursuant to Section 7.2 hereof, The Orchard DMGI shall continue to pay Executive his Base Salary under Section 6.1 hereof at Executive’s then-current salary and maintain his benefits under Section 6.2 hereof (i) through the remaining term of this Agreement which ends on the third anniversary of the Effective Date, or (ii) for six (6) months, whichever period is shorter. In the event of a disability termination pursuant to Section 7.2 hereof, Executive will not be eligible to receive any ongoing benefits subsequent to the effective date of termination, other than continued participation in any applicable The Orchard DMGI disability plan, nor will there be any proration of any potential annual incentive bonus under Section 6.3 hereof for the fiscal year in which such termination occurs; provided, however, that The Orchard DMGI will continue to pay accrued but unpaid salary, accrued vacation and any other accrued but unpaid benefits and unreimbursed expenses through the last day of the month in which Executive’s termination occurs.

Appears in 1 contract

Samples: Employment Agreement (Digital Music Group, Inc.)

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