Termination by the Company for Disability. If the Executive's employment is terminated during the Term by the Company by reason of the Executive's Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "Supplemental Disability Payments") as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to the Executive's Base Salary as in effect immediately before such Disability; provided, that, at the Company's option, the Company may purchase insurance to cover its obligations under this Section 3.2(c) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser of (A) thirty-six (36) months following the date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) months. The Company shall also pay to the Executive a Pro-Rata Bonus in the event of a termination of employment described in this Section 3.2(c). The Company's obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus shall be conditioned upon: (i) the Executive's continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) days after the date of such termination of employment. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and the Pro-Rata Bonus that have been paid to the Executive pursuant to this Section 3.2(c). Subject to the foregoing and Section 3.2(g), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) day following the Executive's termination of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's senior executives for the year in which the Executive's termination of employment occurs.
Appears in 3 contracts
Samples: Employment Agreement (CVR Refining, LP), Employment Agreement (CVR Partners, Lp), Employment Agreement (CVR Energy Inc)
Termination by the Company for Disability. If the Executive's ’s employment is terminated during the Term by the Company by reason of the Executive's ’s Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's ’s disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "“Supplemental Disability Payments"”) as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to the Executive's ’s Base Salary as in effect immediately before such Disability; provided, that, at the Company's ’s option, the Company may purchase insurance to cover its obligations under this Section 3.2(c) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser a period of (A) thirty-six (36) months following from the date Date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) monthsDisability. The Company shall also pay to the Executive a Pro-Rata Bonus in the event of a termination of employment described in this Section 3.2(c). The Company's ’s obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus shall be conditioned upon: (i) the Executive's ’s continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's ’s execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) days after the date of such termination of employment. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and the Pro-Rata Bonus that have been paid to the Executive pursuant to this Section 3.2(c). Subject to the foregoing and Section 3.2(g), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) day following the Executive's ’s termination of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's ’s senior executives for the year in which the Executive's ’s termination of employment occurs.
Appears in 2 contracts
Samples: Employment Agreement (CVR Energy Inc), Employment Agreement (CVR Partners, Lp)
Termination by the Company for Disability. If the Executive's ’s employment is terminated during the Term by the Company by reason of the Executive's ’s Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's ’s disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "“Supplemental Disability Payments"”) as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to the Executive's ’s Base Salary as in effect immediately before such Disability; provided, that, at the Company's ’s option, the Company may purchase insurance to cover its obligations under this Section 3.2(c3.2(b) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser a period of (A) thirty-six (36) months following from the date Date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) months. The Company shall also pay to the Executive a Pro-Rata Bonus in the event of a termination of employment described in this Section 3.2(c)Disability. The Company's ’s obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus shall be conditioned upon: (i) the Executive's ’s continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's ’s execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) days after the date of such termination of employmentRelease. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and the Pro-Rata Bonus that have been paid to the Executive pursuant to this Section 3.2(c3.2(b). Subject to the foregoing and Section 3.2(g3.2(e), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) day as soon as practicable following the Executive's termination effectiveness of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's senior executives for the year in which the Executive's termination of employment occursRelease.
Appears in 2 contracts
Samples: Employment Agreement (CVR Energy Inc), Employment Agreement (CVR Energy Inc)
Termination by the Company for Disability. If the Executive's ’s employment is terminated during the Term by the Company by reason of the Executive's ’s Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's ’s disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "“Supplemental Disability Payments"”) as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to determined based on the Executive's ’s Base Salary rate as in effect immediately before such Disability; provided, that, at the Company's ’s option, the Company may purchase insurance to cover its obligations under this Section 3.2(c) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser of (A) thirty-six (36) months following the date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) monthsTerm. The Company shall also pay to the Executive a Pro-Rata Bonus in the event of a termination of employment described in this Section 3.2(c). The Company's ’s obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus shall be conditioned upon: (i) the Executive's ’s continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's ’s execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) 45 days after the date of such termination of employment. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and the Pro-Rata Bonus that have been paid to the Executive pursuant to this Section 3.2(c). Subject to the foregoing and Section 3.2(g3.2(f), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) 45th day following the Executive's ’s termination of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's ’s senior executives for the year in which the Executive's ’s termination of employment occurs.
Appears in 2 contracts
Samples: Employment Agreement (CVR Partners, Lp), Employment Agreement (CVR Partners, Lp)
Termination by the Company for Disability. If the Executive's ’s employment is terminated during the Term by the Company by reason of the Executive's ’s Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's ’s disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "“Supplemental Disability Payments"”) as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to the Executive's ’s Base Salary as in effect immediately before such Disability; provided, that, at the Company's ’s option, the Company may purchase insurance to cover its obligations under this Section 3.2(c3.2(b) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser a period of (A) thirty-six (36) months following from the date Date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) months. The Company shall also pay to the Executive a Pro-Rata Bonus in the event of a termination of employment described in this Section 3.2(c)Disability. The Company's ’s obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus shall be conditioned upon: (i) the Executive's ’s continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's ’s execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) days after the date of such termination of employmentRelease. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and the Pro-Rata Bonus that have been paid to the Executive pursuant to this Section 3.2(c3.2(b). Subject to the foregoing and Section 3.2(g3.2(f), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) day as soon as practicable following the Executive's termination effectiveness of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's senior executives for the year in which the Executive's termination of employment occursRelease.
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Termination by the Company for Disability. If the Executive's ’s employment is terminated during the Term by the Company by reason of the Executive's ’s Disability, in addition to the Accrued Amounts and any payments to be made to the Executive under the Company's ’s disability plan(s) as a result of such Disability, the Company shall pay to the Executive such supplemental amounts (the "“Supplemental Disability Payments"”) as shall be necessary to result in the payment of aggregate amounts to the Executive as a result of his Disability that shall be equal to determined based on the Executive's ’s Base Salary rate as in effect immediately before such Disability; provided, that, at the Company's ’s option, the Company may purchase insurance to cover its obligations under this Section 3.2(c) and the Executive shall cooperate to assist the Company in obtaining such insurance. Such Supplemental Disability Payments shall be made for the lesser of (A) thirty-six (36) months following the date of termination due to Disability and (B) the greater of (i) the remainder of the Term and (ii) twelve (12) monthsTerm. The Company shall also pay to the Executive a Pro-Rata Bonus and the LTIP Payout in the event of a termination of employment described in this Section 3.2(c). The Company's ’s obligations to make the Supplemental Disability Payments and pay the Pro-Rata Bonus and the LTIP Payout shall be conditioned upon: (i) the Executive's ’s continued compliance with his obligations under Section 4 of this Employment Agreement and (ii) the Executive's ’s execution, delivery and non-revocation of a Release that becomes effective not later than forty-five (45) 45 days after the date of such termination of employment. In the event that the Executive breaches any of the covenants set forth in Section 4 of this Employment Agreement, the Executive will immediately return to the Company any portion of the Supplemental Disability Payments and Payments, the Pro-Rata Bonus and the LTIP Payout that have been paid to the Executive pursuant to this Section 3.2(c). Subject to the foregoing and Section 3.2(g3.2(f), the Supplemental Disability Payments will commence to be paid to the Executive on the forty-fifth (45th) 45th day following the Executive's ’s termination of employment. The Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the Company's ’s senior executives for the year in which the Executive's ’s termination of employment occursoccurs and the LTIP Payout will be paid at the time provided in the applicable award agreement.
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