Termination by Disability. VNR, by action of the Board, may terminate this Agreement at any time if Executive shall be deemed in the reasonable judgment of the Board to have sustained a “Disability.” Executive shall be deemed to have sustained a Disability if and only if he shall have been unable to substantially perform his duties as an employee of VNR as a result of sickness or injury, and shall have remained unable to perform any such duties for a period of more than 180 consecutive days in any twelve (12) month period. Upon termination of this Agreement for Disability, Executive shall only be entitled to (i) Accrued Compensation and Reimbursements, which amount shall be paid within ten (10) business days after the Date of Termination and (ii) any other amounts or benefits to which Executive may be entitled under a separate plan, policy or program maintained by the Company.
Appears in 5 contracts
Samples: Employment Agreement (Vanguard Natural Resources, Inc.), Employment Agreement (Vanguard Natural Resources, Inc.), Employment Agreement (Vanguard Natural Resources, Inc.)
Termination by Disability. VNR, by action of the Board, may terminate this Agreement at any time if Executive shall be deemed in the reasonable judgment of the Board to have sustained a “Disability.” Executive shall be deemed to have sustained a Disability if and only if he shall have been unable to substantially perform his duties as an employee of VNR as a result of sickness or injury, and shall have remained unable to perform any such duties for a period of more than 180 consecutive days in any twelve (12) month period. Upon termination of this Agreement for Disability, Executive shall only be entitled to (i) Accrued Compensation and Reimbursements, which amount shall be paid within ten (10) business days after the Date of Termination and Termination, (ii) any other amounts or benefits to which Executive may be entitled under a separate plan, policy or program maintained by the Company, and (iii) the Earned but Unpaid Bonus.
Appears in 2 contracts
Samples: Employment Agreement (Vanguard Natural Resources, Inc.), Employment Agreement (Vanguard Natural Resources, Inc.)
Termination by Disability. VNRVNRH, by action of the Board, may terminate this Agreement at any time if Executive shall be deemed in the reasonable judgment of the Board to have sustained a “Disability.” Executive shall be deemed to have sustained a Disability if and only if he shall have been unable to substantially perform his duties as an employee of VNR VNRH as a result of sickness or injury, and shall have remained unable to perform any such duties for a period of more than 180 consecutive days in any twelve (12) month 12)-month period. Upon termination of this Agreement for Disability, VNRH shall pay Executive shall only be entitled to (iA) his Accrued Compensation and Reimbursements, which amount shall be paid within ten Reimbursements plus (10B) business days after the Date of Termination and a payment equal to Executive’s Base Salary for twelve (ii12) any other amounts or benefits to which Executive may be entitled under a separate plan, policy or program maintained by the Companymonths.
Appears in 2 contracts
Samples: Employment Agreement (Vanguard Natural Resources, LLC), Employment Agreement (Vanguard Natural Resources, LLC)
Termination by Disability. VNR, by action of the BoardCEO, may terminate this Agreement at any time if Executive shall be deemed in the reasonable judgment of the Board CEO to have sustained a “Disability.” Executive shall be deemed to have sustained a Disability if and only if he shall have been unable to substantially perform his duties as an employee of VNR as a result of sickness or injury, and shall have remained unable to perform any such duties for a period of more than 180 consecutive days in any twelve (12) month 12)-month period. Upon termination of this Agreement for Disability, VNR shall pay Executive shall only be entitled to (iA) his Accrued Compensation and Reimbursements, which amount shall be paid within ten Reimbursements plus (10B) business days after the Date of Termination and a payment equal to Executive’s Base Salary for twelve (ii12) any other amounts or benefits to which Executive may be entitled under a separate plan, policy or program maintained by the Companymonths.
Appears in 1 contract
Samples: Employment Agreement (Vanguard Natural Resources, LLC)