TERMINATION FOR DISABILITY OR DEATH. In the event of termination for Disability, payments of the Employee's Base Salary shall be made to the Employee for a period of six months after the Termination Date in accordance with the normal payroll practices of the Company. In addition, for a period of three years after the Termination Date, the Company shall reimburse the Employee for amounts paid, if any, to continue medical, dental and health coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act, continue Employee's life insurance and disability coverage, to the extent limited by Section 5(g), and pay to the Employee a pro rata portion of any bonus payable for the year in which termination takes place (if any). The Company shall pay the Employee the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination. In the event of termination as a result of the death of Employee, Employee's designated beneficiary or his estate shall be entitled to receive the Base Salary accrued prior to the Termination Date together with the proceeds of any life insurance obtained pursuant to Section 5(g), plus a payment when determinable equaling Employee's pro rata portion of any bonus payable under the Bonus Plans for the year in which termination takes place (if any). The Company shall pay the Employee's designated beneficiary or his estate the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination.
Appears in 4 contracts
Samples: Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp)
TERMINATION FOR DISABILITY OR DEATH. In the event of termination for Disability, payments of the Employee's Base Salary shall be made to the Employee for a period of six months after the Termination Date in accordance with the normal payroll practices of the Company. In addition, for a period of three years after the Termination Date, the Company shall reimburse the Employee for amounts paid, if any, to continue medical, dental and health coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act, continue Employee's life insurance and disability coverage, to the extent limited by Section section 5(g)) and to the extent permitted under applicable policies, and pay to the Employee a pro rata portion of any bonus payable for the year in which termination takes place (if any). The Company shall pay ) based on the Employee the actual current year bonus earned, as determined at year-end, pro-rated by the number portion of months employed in the year of terminationoccurring prior to the Termination Date. In the event of termination as a result of the death of Employee, Employee's designated beneficiary or his estate shall be entitled to receive the Base Salary accrued prior to the Termination Date together with the proceeds of any life insurance obtained pursuant to Section section 5(g), plus a lump sum payment when determinable equaling Employee's pro rata portion of any bonus payable under the Bonus Plans for the year in which termination takes place (if any). The Company shall pay ) based on the Employee's designated beneficiary or his estate the actual current year bonus earned, as determined at year-end, pro-rated by the number portion of months employed in the year of terminationoccurring prior to the Termination Date.
Appears in 3 contracts
Samples: Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp)
TERMINATION FOR DISABILITY OR DEATH. In the event of termination for Disability, payments of the Employee's Base Salary shall be made to the Employee for a period of six months after the Termination Date in accordance with the normal payroll practices of the Company. In addition, for a period of three years after the Termination Date, the Company shall reimburse the Employee for amounts paid, if any, to continue medical, dental and health coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act, continue Employee's life insurance and disability coverage, to the extent limited by Section 5(g), and pay to the Employee a pro rata portion of any bonus payable for the year in which termination takes place (if any). The Company shall pay the Employee the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination. In the event of termination as a result of the death of Employee, Employee's designated beneficiary or his her estate shall be entitled to receive the Base Salary accrued prior to the Termination Date together with the proceeds of any life insurance obtained pursuant to Section 5(g), plus a payment when determinable equaling Employee's pro rata portion of any bonus payable under the Bonus Plans for the year in which termination takes place (if any). The Company shall pay the Employee's designated beneficiary or his her estate the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination.
Appears in 2 contracts
Samples: Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp)
TERMINATION FOR DISABILITY OR DEATH. In the event of termination for Disability, payments of the Employee's Base Salary shall be made to the Employee for a period of six months after the Termination Date in accordance with the normal payroll practices of the Company. In addition, for a period of three years after the Termination Date, the Company shall reimburse the Employee for amounts paid, if any, to continue medical, dental and health coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act, continue Employee's life insurance and disability coverage, to the extent limited by Section section 5(g)) and to the extent permitted under applicable policies, and pay to the Employee a pro rata portion of any bonus payable for the year in which termination takes place (if any). The Company shall pay ) based on the Employee the actual current year bonus earned, as determined at year-end, pro-rated by the number portion of months employed in the year of terminationoccurring prior to the Termination Date. In the event of termination as a result of the death of Employee, Employee's designated beneficiary or his her estate shall be entitled to receive the Base Salary accrued prior to the Termination Date together with the proceeds of any life insurance obtained pursuant to Section section 5(g), plus a lump sum payment when determinable equaling Employee's pro rata portion of any bonus payable under the Bonus Plans for the year in which termination takes place (if any). The Company shall pay ) based on the Employee's designated beneficiary or his estate the actual current year bonus earned, as determined at year-end, pro-rated by the number portion of months employed in the year of terminationoccurring prior to the Termination Date.
Appears in 2 contracts
Samples: Employment Agreement (Rc2 Corp), Employment Agreement (Rc2 Corp)
TERMINATION FOR DISABILITY OR DEATH. In the event of termination for Disability, payments of the Employee's ’s Base Salary shall be made to the Employee for a period of six months after the Termination Date in accordance with the normal payroll practices of the Company. In addition, for a period of three years after the Termination Date, the Company shall reimburse the Employee for amounts paid, if any, to continue medical, dental and health coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act, continue Employee's ’s life insurance and disability coverage, to the extent limited by Section 5(g), coverage and pay to the Employee a pro rata portion of any bonus payable for the year in which termination takes place (if any). The Company shall pay the Employee the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination. In the event of termination as a result of the death of Employee, Employee's ’s designated beneficiary or his estate shall be entitled to receive the Base Salary accrued prior to the Termination Date together with the proceeds of any life insurance obtained pursuant to Section 5(gsection 1c(v), plus a payment when determinable equaling Employee's ’s pro rata portion of any bonus payable under the Bonus Plans for the year in which termination takes place (if any). The Company shall pay the Employee's ’s designated beneficiary or his estate the actual current year bonus earned, as determined at year-end, pro-rated by the number of months employed in the year of termination.
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