Common use of Termination for Death; Disability Clause in Contracts

Termination for Death; Disability. In the event of termination of employment pursuant to Section 6.1(ii) (Termination for Disability) or Section 6.1(iii) (Termination upon Death), conditioned upon and subject to the Executive’s compliance with the restrictive covenants under Article 8 and the Executive (solely to the extent practicable in light of the applicable Disability in the event of a termination of employment pursuant to Section 6.1(ii) (Termination for Disability)) executing and delivering a valid General Release (that is no longer subject to revocation under applicable law) in a form consistent with the General Release (which shall be provided by the Company to the Executive no later than 10 days after the date of Executive’s termination of employment) within 52 days following the date of Executive’s termination of employment: (i) Executive shall be entitled to receive his Base Salary and reimbursement of Expenses for periods through the effective date of his termination, as well as any Bonus amount earned, but not yet paid in accordance with Section 5.2 for any prior fiscal year. (ii) Without derogation of any other rights and claims which the Executive may have hereunder, Executive shall be entitled to severance compensation in an amount equal to 100% of the Base Salary, payable in equal monthly installments over a twelve month period following the effective date of his termination, in accordance with the Company’s usual executive salary payment practice and subject to all withholding obligations. (iii) Executive and his eligible dependants shall continue to be eligible to participate in all of the Company’s group health, life, and disability plans on the same terms and conditions as active employees of the Company until the earlier of (A) the expiration of the twelve month period following the effective date of his termination or (B) the date the Executive is or becomes eligible for comparable coverage under health, life and disability plans of another employer. (iv) Executive shall be entitled to the Pro-Rated Bonus. If the Board has not established the Performance Goals as of the date of termination, but Performance Goals are ultimately approved by the Board that would apply to other senior level executive employees for the period prior to termination, then such goals shall apply for purposes of determining the pro-rated Bonus hereunder. Any payment of Bonus pursuant to this clause shall be paid at the time and in the manner described in Section 7.2(iv) of this Agreement.

Termination for Death; Disability. In the event of termination of employment pursuant to Section 6.1(ii) (Termination for Disability) or Section 6.1(iii) (Termination upon Death), conditioned upon and subject to the Executive’s 's compliance with the restrictive covenants under NDA described in Article 8 and the Executive (solely to the extent practicable in light of the applicable Disability in the event of a termination of employment pursuant to Section 6.1(ii) (Termination for Disability)) executing and delivering a valid General Release (that is no longer subject to revocation under applicable law) in a form consistent with the General Release (which shall be provided by the Company to the Executive no later than 10 days after the date of Executive’s termination of employment) within 52 days following the date of Executive’s 's termination of employment: (i) Executive shall be entitled to receive his Base Salary and reimbursement of Expenses for periods through the effective date of his termination, as well as any Bonus amount earned, but not yet paid in accordance with Section 5.2 for any prior fiscal year. Such Bonus shall be paid as set forth in Section 5.2(ii). (ii) Without derogation of any other rights and claims which the Executive may have hereunder, Executive shall be entitled to severance compensation in an amount equal to 100% of the Base Salary, payable in equal monthly installments over a twelve twelve-month period following the effective date of his termination, in accordance with the Company’s 's usual executive salary payment practice and subject to all withholding obligations. (iii) Provided that Executive elects continued coverage of health benefits under COBRA, the Company shall reimburse Executive for the cost of continued coverage of health benefits for Executive and his eligible dependants shall continue dependents at the same contribution rate applicable to be eligible to participate in all him as of the Company’s group health, life, and disability plans on the same terms and conditions as active employees effective date of the Company his termination until the earlier of (Aa) the expiration of the twelve month period following the effective date of his termination or (Bb) the date the Executive is or becomes eligible for comparable coverage under health, life and disability plans a plan of another employer. (iv) Executive shall be entitled to the Pro-Rated Bonus. If the Board has not established the Performance Goals as of the date of termination, but Performance Goals are ultimately approved by the Board that would apply to other senior level executive employees for the period prior to termination, then such goals shall apply for purposes of determining the proSuch Pro-rated Rata Bonus hereunder. Any payment of Bonus pursuant to this clause shall be paid at the time and in the manner described as set forth in Section 7.2(iv) of this Agreement5.2(ii).

Termination for Death; Disability. In the event of termination of employment pursuant to Section 6.1(ii) (Termination for Disability) or Section 6.1(iii) (Termination upon Death), conditioned upon and subject to the Executive’s compliance with the restrictive covenants under Article 8 and the Executive (solely to the extent practicable in light of the applicable Disability in the event of a termination of employment pursuant to Section 6.1(ii) (Termination for Disability)) executing and delivering a valid General Release (that is no longer subject to revocation under applicable law) in a form consistent with the General Release (which shall be provided by the Company to the Executive no later than 10 days after the date of Executive’s termination of employment) within 52 days following the date of Executive’s termination of employment: (i) Executive shall be entitled to receive his Base Salary and reimbursement of Expenses for periods through the effective date of his termination, as well as any Bonus amount earned, but not yet paid in accordance with Section 5.2 for any prior fiscal year. (ii) Without derogation of any other rights and claims which the Executive may have hereunder, Executive shall be entitled to severance compensation in an amount equal to 100% of the Base Salary, payable in equal monthly installments over a twelve month period following the effective date of his termination, in accordance with the Company’s usual executive salary payment practice and subject to all withholding obligations. (iii) Executive and his eligible dependants shall continue to be eligible to participate in all of the Company’s group health, life, and disability plans on the same terms and conditions as active employees of the Company until the earlier of (A) the expiration of the twelve month period following the effective date of his termination or (B) the date the Executive is or becomes eligible for comparable coverage under health, life and disability plans of another employer. (iv) Executive shall be entitled to the Pro-Rated Bonus. If the Board has not established the Performance Goals as of the date of termination, but Performance Goals are ultimately approved by the Board that would apply to other senior level executive employees for the period prior to termination, then such goals shall apply for purposes of determining the pro-rated Bonus hereunder. Any payment of Bonus pursuant to this clause shall be paid at the time and in the manner described in Section 7.2(iv) of this Agreement.

Termination for Death; Disability. Employee's employment with the Company shall terminate as of the date of Employee's death or may be terminated by the Company in the event of Employee's Disability (as defined below). In the event of termination of employment pursuant such a termination, Employee's estate or beneficiaries shall have no right to Section 6.1(iireceive any compensation or benefit hereunder or otherwise from the Company after the Termination Date other than: (a) unpaid Base Salary earned through the Termination Date; (Termination for Disabilityb) or Section 6.1(iiiany vested PARK Shares; (c) (Termination upon Death)all then-outstanding Company equity-based awards held by Employee, conditioned upon and subject to the Executive’s compliance with the restrictive covenants under Article 8 and the Executive (solely to the extent practicable subject to time-based vesting, shall vest in light full as of the applicable Disability in the event of a termination of employment pursuant to Section 6.1(iiTermination Date; (d) (Termination for Disability)) executing and delivering a valid General Release (that is no longer subject to revocation under applicable law) in a form consistent with the General Release (which shall be provided by the Company to the Executive no later than 10 days after the date of Executive’s termination of employment) within 52 days following the date of Executive’s termination of employment: (i) Executive shall be entitled to receive his Base Salary and reimbursement of Expenses for periods through the effective date of his termination, as well as any Bonus amount earned, but not yet paid in accordance with Section 5.2 for any prior fiscal year. (ii) Without derogation of any other rights and claims which the Executive may have hereunder, Executive shall be entitled to severance compensation in an amount equal to 100% of the twelve (12) months' Base SalarySalary and Target Annual Incentive, payable in equal monthly installments over a twelve month period following the effective date of his termination, to be paid in accordance with the Company’s usual executive salary payment practice 's scheduled payroll practices; (e) incurred but unpaid business expense reimbursement pursuant to Section 7 hereof; and (f) any benefits provided pursuant to Section 6 hereof, subject to all withholding obligations. (iii) Executive and his eligible dependants shall continue to be eligible to participate in all of accordance with the Company’s group health, life, and disability plans on the same terms and conditions as active employees applicable thereto. It shall be a condition to Employee's right to receive the amounts and benefits provided for in (c) and (d) in the preceding sentence that Employee execute and deliver to the Company an effective general release of claims in the form requested by the Company (the "Release") within twenty-one (21) days (or, to the extent required by law, forty-five (45) days) following the Termination Date and that Employee not revoke such Release during any applicable revocation period. The Company will, in its discretion, either maintain or reimburse Employee for a standard term life insurance policy for three times the amount of the Base Salary. In the event Company until elects to reimburse the earlier premiums for such a policy, the reimbursement will be made following the receipt by Company of (A) reasonably adequate documentation showing the expiration expense incurred, and the amount of the twelve month period following the effective date of his termination reimbursement will not exceed $2,500.00 annually. Payment to Employee's estate or (B) the date the Executive is or becomes eligible beneficiaries by Company for comparable coverage under health, life and disability plans of another employer. (iv) Executive any items due from it hereunder shall be entitled to made as soon as possible after any legal prerequisites have been met (such as the Pro-Rated Bonusappointment of an executor or administrator). If In the Board has not established event Employee suffers a physical or mental condition which precludes his working for the Performance Goals as Company for a period in excess of 30 days, the Company, in its discretion, may cease payment of the date of termination, but Performance Goals are ultimately approved by Base Salary until Employee is able to return to work. In the Board that would apply to other senior level executive employees event Employee suffers a physical or mental condition which preludes his working for the Company for a period prior in excess of 90 days ("Disability"), the Company, in its discretion, may terminate Employee's employment, provided that such termination would not violate applicable law. The Company will continue to termination, then such goals shall apply maintain any current disability policy for purposes the benefit of determining the pro-rated Bonus hereunder. Any payment of Bonus pursuant to this clause shall be paid at the time and in the manner described in Section 7.2(iv) of this AgreementEmployee.

Termination for Death; Disability. Employee's employment with the Company shall terminate as of the date of Employee's death or may be terminated by the Company in the event of Employee's Disability (as defined below). In the event of termination of employment pursuant such a termination, Employee's estate or beneficiaries shall have no right to Section 6.1(iireceive any compensation or benefit hereunder or otherwise from the Company after the Termination Date other than: (a) unpaid Base Salary earned through the Termination Date; (Termination for Disabilityb) or Section 6.1(iiiany vested PARK Shares; (c) (Termination upon Death)all then-outstanding Company equity-based awards held by Employee, conditioned upon and subject to the Executive’s compliance with the restrictive covenants under Article 8 and the Executive (solely to the extent practicable subject to time-based vesting, shall vest in light full as of the applicable Disability in the event of a termination of employment pursuant to Section 6.1(iiTermination Date; (d) (Termination for Disability)) executing and delivering a valid General Release (that is no longer subject to revocation under applicable law) in a form consistent with the General Release (which shall be provided by the Company to the Executive no later than 10 days after the date of Executive’s termination of employment) within 52 days following the date of Executive’s termination of employment: (i) Executive shall be entitled to receive his Base Salary and reimbursement of Expenses for periods through the effective date of his termination, as well as any Bonus amount earned, but not yet paid in accordance with Section 5.2 for any prior fiscal year. (ii) Without derogation of any other rights and claims which the Executive may have hereunder, Executive shall be entitled to severance compensation in an amount equal to 100% of the twelve (12) months' Base SalarySalary and Target Annual Incentive, payable in equal monthly installments over a twelve month period following the effective date of his termination, to be paid in accordance with the Company’s usual executive salary payment practice 's scheduled payroll practices; (e) incurred but unpaid business expense reimbursement pursuant to Section 7 hereof; and (f) any benefits provided pursuant to Section 6 hereof, subject to all withholding obligations. (iii) Executive and his eligible dependants shall continue to be eligible to participate in all of accordance with the Company’s group health, life, and disability plans on the same terms and conditions applicable thereto. It shall be a condition to Employee's right to receive the amounts and benefits provided for in (c) and (d) in the preceding sentence that Employee execute and deliver to the Company an effective general release of claims in the form requested by the Company (the "Release") within twenty-one (21) days (or, to the extent required by law, forty-five (45) days) following the Termination Date and that Employee not revoke such Release during any applicable revocation period. Payment to Employee's estate or beneficiaries by Company for any items due from it hereunder shall be made as active employees soon as possible after any legal prerequisites have been met (such as the appointment of an executor or administrator). In the event Employee suffers a physical or mental condition which precludes his working for the Company for a period in excess of 30 days, the Company, in its discretion, may cease payment of the Company Base Salary until Employee is able to return to work. In the earlier of (A) the expiration of the twelve month period following the effective date of event Employee suffers a physical or mental condition which preludes his termination or (B) the date the Executive is or becomes eligible for comparable coverage under health, life and disability plans of another employer. (iv) Executive shall be entitled to the Pro-Rated Bonus. If the Board has not established the Performance Goals as of the date of termination, but Performance Goals are ultimately approved by the Board that would apply to other senior level executive employees working for the Company for a period prior in excess of 90 days ("Disability"), the Company, in its discretion, may terminate Employee's employment, provided that such termination would not violate applicable law. The Company will continue to termination, then such goals shall apply maintain any current disability policy for purposes the benefit of determining the pro-rated Bonus hereunder. Any payment of Bonus pursuant to this clause shall be paid at the time and in the manner described in Section 7.2(iv) of this AgreementEmployee.