Common use of Termination by the Company for Death or Disability Clause in Contracts

Termination by the Company for Death or Disability. If the Executive's employment is terminated by reason of the Executive's death or Disability during the Employment Period, the Company shall pay to her legal representatives: (i) in a lump sum in cash within thirty (30) days after the Date of Termination the aggregate Accrued Obligations; (ii) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans; and (iii) any Accrued Bonus, which shall be payable at such time as such Annual Bonus otherwise would be payable. The Company shall have no further payment obligations to the Executive or her legal representatives under this Agreement.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Home Interiors & Gifts Inc), Employment and Non Competition Agreement (Home Interiors & Gifts Inc)

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Termination by the Company for Death or Disability. If the Executive's ’s employment is terminated by reason of the Executive's ’s death or Disability during the Employment Period, the Company shall pay to her his legal representatives: (i) in a lump sum in cash within thirty (30) days after the Date of Termination the aggregate Accrued Obligations; (ii) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans; and (iii) any Accrued Bonus, which shall be payable at such time as such Annual Bonus otherwise would be payable. The Company shall have no further payment obligations to the Executive or her his legal representatives under this Agreement.

Appears in 2 contracts

Samples: Employment and Non Competition Agreement (Home Interiors & Gifts Inc), Employment and Non Competition Agreement (Home Interiors & Gifts Inc)

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Termination by the Company for Death or Disability. If the Executive's ’s employment is terminated by reason of the Executive's ’s death or Disability during the Employment Period, the Company shall pay to her legal representatives: (i) in a lump sum in cash within thirty (30) days after the Date of Termination the aggregate Accrued Obligations; (ii) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans; and (iii) any Accrued Bonus, which shall be payable at such time as such Annual Bonus otherwise would be payable. The Company shall have no further payment obligations to the Executive or her legal representatives under this Agreement.

Appears in 2 contracts

Samples: Employment and Non Competition Agreement (Home Interiors & Gifts Inc), Employment and Non Competition Agreement (Home Interiors & Gifts Inc)

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