Common use of Termination Upon Death or Disability Clause in Contracts

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management or the Playa Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Management. Further, Playa Management shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Management. Further, Playa Management shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 6 contracts

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.)

AutoNDA by SimpleDocs

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Flora Management or the Playa Flora Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 6 contracts

Samples: Executive Employment Agreement (Flora Growth Corp.), Executive Employment Agreement (Flora Growth Corp.), Executive Employment Agreement (Flora Growth Corp.)

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Resorts or the Playa Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 4 contracts

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.)

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any earned and unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested and nonforfeitable but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Employer or the Playa Affiliates and (c) Affiliates. Additionally, subject to Section 6(h), Executive’s estate shall be entitled to receive: a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementEmployer. Further, Playa Management Employer shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and. (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability, reduced by benefits payable, if any, under any disability insurance policy or plan. Subject to Section 6(h), Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementEmployer. Further, Playa Management Employer shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 3 contracts

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.)

Termination Upon Death or Disability. (i) If Executive’s Xx. Xxxxxxxxx’x employment terminates in the event of his death, Executive’s Xx. Xxxxxxxxx’x estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Resorts or the Playa Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s Xx. Xxxxxxxxx’x estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s Xx. Xxxxxxxxx’x employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive Xx. Xxxxxxxxx also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive Xx. Xxxxxxxxx shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 3 contracts

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts N.V.), Executive Employment Agreement (Playa Hotels & Resorts B.V.)

Termination Upon Death or Disability. (i) If Executive’s Xx. Xxxxxxxxx’x employment terminates in the event of his death, Executive’s Xx. Xxxxxxxxx’x estate shall be entitled to receive (a) payment of any earned and unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested and nonforfeitable but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Employer or the Playa Affiliates and (c) Affiliates. Additionally, subject to Section 6(h), Xx. Xxxxxxxxx’x estate shall be entitled to receive: a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementEmployer. Further, Playa Management Employer shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s Xx. Xxxxxxxxx’x estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and. (ii) In the event Executive’s Xx. Xxxxxxxxx’x employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability, reduced by benefits payable, if any, under any disability insurance policy or plan. Executive Subject to Section 6(h), Xx. Xxxxxxxxx also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Management. Further, Playa Management shall pay Employer; and the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive Xx. Xxxxxxxxx shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.)

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Flora Management or the Playa Flora Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Flora Growth Corp.)

AutoNDA by SimpleDocs

Termination Upon Death or Disability. (i) i. If Executive’s 's employment terminates in the event of his her death, Executive’s 's estate shall be entitled to receive (a) payment of any unpaid portion of his her Base Salary through the date of his her death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Resorts or the Playa Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he she otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his her death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-still employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following his her date of death. Executive’s 's estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his her death other than as provided in this Section 6(e)(i); and (ii) . In the event Executive’s 's employment terminates due to his her Disability, he she shall be entitled to receive his her Base Salary through the date he she is terminated due to his her Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he she otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his her employment terminates due to his her Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementResorts. Further, Playa Management Resorts shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his her employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his her Disability other than as provided in this Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Playa Hotels & Resorts N.V.)

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his her death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his her Base Salary through the date of his her death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Flora Management or the Playa Flora Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his her death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following his her date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his her death other than as provided in this the Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his her Disability, he shall be entitled to receive his her Base Salary through the date he is terminated due to his her Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his her employment terminates due to his her Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Flora Management. Further, Playa Flora Management shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his her employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his her Disability other than as provided in this the Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Flora Growth Corp.)

Termination Upon Death or Disability. (i) If Executive’s employment terminates in the event of his death, Executive’s estate shall be entitled to receive (a) payment of any unpaid portion of his Base Salary through the date of his death, (b) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Flora Growth or the Playa Flora Affiliates and (c) a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentage, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementFlora Growth. Further, Playa Management Flora Growth shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i); and (ii) In the event Executive’s employment terminates due to his Disability, he shall be entitled to receive his Base Salary through the date he is terminated due to his Disability. Executive also shall be entitled to receive a pro-rata share of any Discretionary Annual Bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementFlora Growth. Further, Playa Management Flora Growth shall pay the Additional Amount for a period of twelve (12) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall cease. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Flora Growth Corp.)

Termination Upon Death or Disability. (i) If Executive’s 's employment terminates in the event of his death, Executive’s 's estate shall only be entitled to receive (aA) payment of any unpaid portion of his Base Salary through regular wages and vacation pay accrued and owing up to and including the date of his death, (bB) reimbursement for any outstanding reasonable business expense he has incurred in performing his duties hereunder in accordance with Section 4(d) above, (C) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Playa Management Flora Growth or the Playa Affiliates Flora Affiliates, and (cD) a pro-rata share of any Discretionary Annual Bonus other minimum statutory entitlement that may be owing to which he otherwise would have been entitled the Executive under Section 4(b)(i) above for the calendar year in which his death occurs at no less than the target bonus percentageESA, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa Management. Further, Playa Management shall pay the Additional Amount for a period of twelve (12) months following his date of death. Executive’s estate shall not be entitled to receive any severance pay or benefits or other amounts for termination due to his death other than as provided in this Section 6(e)(i)without duplication; and (ii) In the event Executive’s 's employment terminates due to his Disability, he shall only be entitled to receive his Base Salary through (A) payment of any unpaid regular wages and vacation pay accrued and owing up to and including the date of death, (B) reimbursement for any outstanding reasonable business expense he is terminated due to has incurred in performing his Disability. Executive also shall be entitled to receive duties hereunder in accordance with Section 4(d) above, (C) payment of any fully vested but unpaid rights as required by the terms of any bonus or other incentive pay plan or any other employee benefit plan or program of Flora Growth or the Flora Affiliates, (D) a pro-rata share of any Discretionary Annual Bonus bonus to which he otherwise would have been entitled under Section 4(b)(i) above for the calendar year in which his employment terminates due to his Disability, paid at the time discretionary annual bonuses are paid to still-employed executives of Playa ManagementFlora Growth. Further, Playa Management Flora Growth shall pay the Additional Amount for a period of twelve pay, (12E) months following the date of termination of his employment; provided, however, that if such insurance coverage becomes available under another group insurance plan during the twelve (12)-month period, payment of the Additional Amount shall ceaseExecutive's regular wages in lieu of working notice prescribed by the ESA, statutory severance pay, if any, prescribed by the ESA and any other minimum statutory entitlement that may be owing to the Executive under the ESA, without duplication. Executive shall receive no severance pay or benefits for termination due to his Disability other than as provided in this Section 6(e)(ii).

Appears in 1 contract

Samples: Executive Employment Agreement (Flora Growth Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!