Compensation Other Than Severance Payments. 5.1 Following a Change in Control and during the Term, during any period that the Executive fails to perform the Executive's full-time duties with the Company as a result of incapacity due to physical or mental illness, the Company shall pay the Executive's full salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company during such period (other than any disability plan), until the Executive's employment is terminated by the Company for Disability. 5.2 If the Executive's employment shall be terminated for any reason following a Change in Control and during the Term, the Company shall pay the Executive's full salary to the Executive through the Date of Termination at the highest rate in effect during the three-year period ending immediately prior
Appears in 12 contracts
Sources: Change in Control Agreement (Temple Inland Inc), Change in Control Agreement (Temple Inland Inc), Change in Control Agreement (Temple Inland Inc)
Compensation Other Than Severance Payments. 5.1 Following a Change in Control or a Major Transaction and during the Termterm of this Agreement, during any period that the Executive fails to perform the Executive's full-time duties with the Company ▇▇▇▇ Companies as a result of incapacity due to physical or mental illness, the Company shall pay provide the Executive with disability benefits equivalent to those under the Disability Insurance Plan (without regard to any amendment to such plan made subsequent to the Change in Control or Major Transaction which amendment adversely affect the Executive's full salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company during such period (other than any disability plan), rights thereunder) until the Executive's employment is terminated by the Company Employer for Disability.
5.2 If the Executive's employment shall be terminated for any reason following a Change in Control or a Major Transaction and during the Termterm of this Agreement, the Company shall pay the Executive's full salary to the Executive through the Date of Termination at the highest rate in effect during the three-year period ending immediately priorat the
Appears in 1 contract