Termination in the Event of Death or Disability. This Agreement and Executive's employment shall terminate in the event of death or Disability of the Executive. 4.4.1 In the event of the Executive's death, the Company shall pay an amount equal to six (6) month's Base Salary to the executor, administrator or other personal representative of the Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Company's receipt of notice of the Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.4.3 below. 4.4.2 In the event of termination due to Executive's Disability, Base Salary shall be terminated as of the final day of the fifth month referenced in the definition of "Disability." Unless otherwise disqualified by the disability benefit program provider, this Section is not intended to limit the Executive from qualifying for and claiming disability benefits from any other disability program in which the Executive may be enrolled or otherwise for which he is qualified at the time of disability. 4.4.3 In the event of termination by reason of the Executive's death or Disability, the Company shall pay to the Executive an amount equal to the amount the Executive would have received in incentive plan bonus for the year in which termination occurred had "target" goals been achieved, provided, however, that such amount shall be pro-rated to the date of termination. This amount shall be earned and payable as of the date that is fifteen (15) days after the date such bonus would have been paid had the Executive remained employed for the full fiscal year in which termination occurred.
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Samples: Executive Employment Agreement (Protocol Systems Inc/New), Executive Employment Agreement (Protocol Systems Inc/New), Executive Employment Agreement (Protocol Systems Inc/New)
Termination in the Event of Death or Disability. This Agreement and Executive's employment shall terminate in the event of death or Disability of the Executive.
4.4.1 In the event of the Executive's death, the Company shall pay an amount equal to six three (63) month's Base Salary to the executor, administrator or other personal representative of the Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Company's receipt of notice of the Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.4.3 below.
4.4.2 In the event of termination due to Executive's Disability, Base Salary shall be terminated as of the final day of the fifth month referenced in the definition of "Disability." Unless otherwise disqualified by the disability benefit program provider, this Section is not intended to limit the Executive from qualifying for and claiming disability benefits from any other disability program in which the Executive may be enrolled or otherwise for which he is qualified at the time of disability.
4.4.3 In the event of termination by reason of the Executive's death or Disability, the Company shall pay to the Executive an amount equal to the amount the Executive would have received in incentive plan bonus for the year in which termination occurred had "target" goals been achieved, provided, however, that such amount shall be pro-rated to the date of termination. This amount shall be earned and payable as of the date that is fifteen (15) days after the date such bonus would have been paid had the Executive remained employed for the full fiscal year in which termination occurred.
Appears in 3 contracts
Samples: Executive Employment Agreement (Protocol Systems Inc/New), Executive Employment Agreement (Protocol Systems Inc/New), Executive Employment Agreement (Protocol Systems Inc/New)
Termination in the Event of Death or Disability. This Agreement and Executive's employment shall terminate in the event of death or Disability of the Executive.
4.4.1 In the event of the Executive's death, the Company shall pay an amount equal to six (6) month's Base Salary to the executor, administrator or other personal representative of the Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Company's receipt of notice of the Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.4.3 below.. 4-EXECUTIVE EMPLOYMENT AGREEMENT
4.4.2 In the event of termination due to Executive's Disability, Base Salary shall be terminated as of the final day of the fifth month referenced in the definition of "Disability." Unless otherwise disqualified by the disability benefit program provider, this Section is not intended to limit the Executive from qualifying for and claiming disability benefits from any other disability program in which the Executive may be enrolled or otherwise for which he is qualified at the time of disability.
4.4.3 In the event of termination by reason of the Executive's death or Disability, the Company shall pay to the Executive an amount equal to the amount the Executive would have received in incentive plan bonus for the year in which termination occurred had "target" goals been achieved, provided, however, that such amount shall be pro-rated to the date of termination. This amount shall be earned and payable as of the date that is fifteen (15) days after the date such bonus would have been paid had the Executive remained employed for the full fiscal year in which termination occurred.
Appears in 2 contracts
Samples: Executive Employment Agreement (Protocol Systems Inc/New), Executive Employment Agreement (Protocol Systems Inc/New)
Termination in the Event of Death or Disability. This Agreement and Executive's employment shall terminate in the event of your death or Disability of the Executivedisability.
4.4.1 (a) In the event of the Executive's deathyour death during 2009, the Company Arbitron shall pay an amount equal to six 175% of your Blended Base Salary. Such amount shall be paid (61) month's Base Salary to the beneficiary or beneficiaries you designated in writing to Arbitron, (2) in the absence of such designation, to the surviving spouse, or (3) if there is no surviving spouse, or such surviving spouse disclaims all or any part, then the full amount, or such disclaimed portion, shall be paid to the executor, administrator or other personal representative of the Executive's your estate. The amount shall be paid as a lump sum as soon as practicable following Company's Arbitron’s receipt of notice of the Executive's death. All such payments shall be your death but, in addition to any payments due pursuant to Section 4.4.3 belowevent within 30 days thereafter.
4.4.2 (b) In the event of termination due to Executive's Disabilityyour Disability during 2009, Base Salary shall be terminated as of the final day of the fifth month referenced in the definition of "Disability." Unless otherwise disqualified by the disability benefit program provider, this Section date such Disability is not intended to limit the Executive from qualifying for and claiming disability benefits from any other disability program in which the Executive may be enrolled or otherwise for which he is qualified at the time of disabilitydetermined.
4.4.3 (c) In the event of termination by reason of the Executive's your death or DisabilityDisability during 2009, the Company shall Arbitron will pay to the Executive your or your heirs an amount amount, if any, equal to (1) the amount the Executive you would have received in annual incentive plan bonus for the year in which termination occurred occurs had "“target" ” goals been achieved, providedmultiplied by (2) a fraction, however, that such amount the numerator of which shall be pro-rated the number of whole months you were employed in 2009 and the denominator of which is 12. The amount payable pursuant to the date of termination. This amount this Section 4.03(c) shall be earned and payable as of the date that is fifteen (15) paid within 15 days after the date such bonus would have been paid had the Executive you remained employed for the full fiscal year in which termination occurredyear.
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