Common use of Termination As Result of Disability Termination Event Clause in Contracts

Termination As Result of Disability Termination Event. If the Executive's employment hereunder is terminated as a result of a Disability Termination Event, as of the date of the termination of the Executive's employment hereunder, the Company shall have no further obligation to pay the Executive any Base Salary, Bonus or any other benefits pursuant to this Agreement. If such termination occurs prior to the end of any pay period, the Executive shall be entitled to receive a portion of the Base Salary and Bonus for such pay period prorated to the date on which the Executive's employment is terminated as provided in (S) 4.2(a)(i) above. Notwithstanding the foregoing, if this Agreement is terminated as a result of the (a) death of the Executive, the Executive's family shall be entitled to receive benefits at least equal to those provided by the Company to surviving families of senior executives of the Company under such plans, programs and policies relating to family death benefits, if any, in effect on the date of the Executive's death, or (b) total disability of the Executive as described in (S) 3.1(a), in addition to the benefits contemplated by (S) 5.1, the Executive shall be entitled to receive disability and other benefits (provided that the Executive has paid applicable premiums therefor) at least equal to those provided by the Company to disabled employees and their families in accordance with such plans, program and policies relating to disability, if any, in effect on the date of the Executive's total disability.

Appears in 4 contracts

Samples: Employment Agreement (Dan River Inc /Ga/), Employment Agreement (Dan River Inc /Ga/), Employment Agreement (Dan River Inc /Ga/)

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Termination As Result of Disability Termination Event. If the Executive's employment hereunder is terminated as a result of a Disability Termination Event, as of the date of the termination of the Executive's employment hereunder, the Company shall have no further obligation to pay the Executive any Base Salary, Bonus or any other benefits pursuant to this Agreement. If such termination occurs prior to the end of any pay period, the Executive shall be entitled to receive a portion of the Base Salary and Bonus for such pay period prorated to the date on which the Executive's employment is terminated as provided in (S) 4.2(a)(i) above. Notwithstanding the foregoing, if this Agreement is terminated as a result of the (a) death of the Executive, the Executive's family shall be entitled to receive benefits at least equal to those provided by the Company to surviving families of senior executives of the Company under such plans, programs and policies relating to family death benefits, if any, in effect on the date of the Executive's death, or (b) total disability of the Executive as described in (S) ss. 3.1(a), in addition to the benefits contemplated by (S) 5.1, the Executive shall be entitled to receive disability and other benefits (provided that the Executive has paid applicable premiums therefor) at least equal to those provided by the Company to disabled employees and their families in accordance with such plans, program and policies relating to disability, if any, in effect on the date of the Executive's total disability.

Appears in 1 contract

Samples: Employment Agreement (Dan River Inc /Ga/)

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