Examples of Compensation Continuance Termination Event in a sentence
If the Compensation Continuance Termination Event is the termination of the Executive’s employment by the Company as a result of the Executive’s Total Disability, the Executive’s Final Average Compensation shall be reduced by any amounts actually paid to the Executive during the Compensation Continuance Period under any Company sponsored long-term disability policy or any long-term disability policy on the life of the Executive for which the Company paid the premiums.119.3. Special Termination Bonus.
In addition to the compensation provided for in Section 9.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive during the Compensation Continuance Period an annual benefit equal to his Final Average Compensation.
In addition to the other benefits provided for in this Agreement, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to continue to participate (treating the Executive as an “active employee” of the Company for this purpose) in the Company Welfare Benefit Plans during the Extended Coverage Period.
In addition to the compensation provided for in Sections 9.1 and 9.2, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive a special termination bonus equal to the amount of the highest annual bonus (including amounts payable pursuant to ARTICLE 5 and any amounts deferred) earned by the Executive during any one of the three (3) calendar years preceding his Termination Date.
In addition to the other benefits provided for in this Agreement, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to continue to participate (treating the Executive as an “active employee” of the Company for this purpose) in the Non-Qualified Plan during the Extended Coverage Period.
In no event shall the termination of the Executive’s employment as a result of his death or For Cause be treated as a Compensation Continuance Termination Event.
The Severance Benefits are intended to constitute the exclusive payments in the nature of severance or termination compensation that shall be due a Participant upon termination of employment due to the occurrence of a Compensation Continuance Termination Event following a Change of Control, and shall be in lieu of any such other severance or termination compensation under any other agreement, plan, program or policy of the Company.