Common use of Wage Continuation Clause in Contracts

Wage Continuation. 8.7.1. If Founder's employment is terminated pursuant to subsection 8.1.1 of this Agreement (i.e., due to death), the Company shall continue to provide health and medical benefits to the Founder's dependents (if such dependents were covered by the Company's health and medical benefits plan immediately prior to Founder's death and termination pursuant subsection 8.1.1) for the longer of (a) the remaining Term or (b) thirty six (36) months from the termination of Founder's employment pursuant to subsection 8.1.1. 8.7.2. If Founder's employment is terminated by the Company pursuant to subsection 8.1.2 of this Agreement (i.e., due to Disability), the Company shall continue to pay to Founder his base salary and shall continue to provide health and medical insurance benefits to Founder and his dependants under any benefit program of the Company through the later to occur of (a) the remaining Term, or (b) eighteen (18) months from the termination of Founder's employment pursuant to subsection 8.1.2 of this Agreement. 8.7.3. If this Agreement is terminated pursuant to subsection 8.1.3 (i.e., voluntary resignation), all of Founder's right to compensation under this Agreement, other than for services already rendered, shall immediately terminate except as otherwise provided by applicable law.

Appears in 1 contract

Sources: Founder's Employment Agreement (HyperSpace Communications, Inc.)

Wage Continuation. 8.7.1. If Founder's employment is terminated pursuant to subsection 8.1.1 of this Agreement (i.e., due to death), the Company shall continue to provide health and medical benefits to the Founder's dependents (if such dependents were covered by the Company's health and medical benefits plan immediately prior to Founder's death and termination pursuant to subsection 8.1.1) for the longer of (a) the remaining Term or (b) thirty six (36) months from the termination of Founder's employment pursuant to subsection 8.1.1. 8.7.2. If Founder's employment is terminated by the Company pursuant to subsection 8.1.2 of this Agreement (i.e., due to Disability), the Company shall continue to pay to Founder his base salary and shall continue to provide health and medical insurance benefits to Founder and his dependants under any benefit program of the Company through the later to occur of (a) the remaining Term, or (b) eighteen (18) months from the termination of Founder's employment pursuant to subsection 8.1.2 of this Agreement. 8.7.3. If this Agreement is terminated pursuant to subsection 8.1.3 (i.e., voluntary resignation; material failure to perform duties), all of Founder's right to compensation under this Agreement, other than for services already rendered, shall immediately terminate except as otherwise provided by applicable law.

Appears in 1 contract

Sources: Founder's Employment Agreement (HyperSpace Communications, Inc.)

Wage Continuation. 8.7.1. If Founder's employment is terminated pursuant to subsection 8.1.1 of this Agreement (i.e., due to death), the Company shall continue to provide health and medical benefits to the Founder's dependents (if such dependents were covered by the Company's health and medical benefits plan immediately prior to Founder's death and termination pursuant to subsection 8.1.1) for the longer of (a) the remaining Term or (b) thirty six (36) months from the termination of Founder's employment pursuant to subsection 8.1.1. 8.7.2. If Founder's employment is terminated by the Company pursuant to subsection 8.1.2 of this Agreement (i.e., due to Disability), the Company shall continue to pay to Founder his base salary and shall continue to provide health and medical insurance benefits to Founder and his dependants under any benefit program of the Company through the later to occur of (a) the remaining Term, or (b) eighteen (18) months from the termination of Founder's employment pursuant to subsection 8.1.2 of this Agreement. 8.7.3. If this Agreement is terminated pursuant to subsection 8.1.3 (i.e., voluntary resignation; material failure to perform duties), all of Founder's right to compensation under this Agreement, other than for services already rendered, shall immediately terminate except as otherwise provided by applicable law.

Appears in 1 contract

Sources: Founder's Employment Agreement (HyperSpace Communications, Inc.)