Common use of Termination of Employment for Death or Disability Clause in Contracts

Termination of Employment for Death or Disability. If, before the end of the Contract Term, the Executive's employment terminates due to death or Disability, the Company's sole obligations to Executive under Articles IV, V and VI and the Annual Incentive Plan shall be as set forth in this Section 7.2. The Company shall pay to the Executive, the beneficiaries designated in writing by the Executive, or the Executive's estate, as the case may be, the following amounts: (a) immediately after the Date of Termination an amount which is equal to the sum of (i) the Executive's Accrued Annual Base Salary as of the Date of Termination, and (ii) the Executive's Accrued Annual Incentive Bonus which is unpaid as of the Date of Termination; and (b) at the same time as Annual Incentive Bonuses are or would normally be paid under the Annual Incentive Plan for the Performance Period containing the Date of Termination, the Executive's Prorata Annual Incentive Bonus.