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EYE » Topics » Termination as a Result of Death or Disability.

This excerpt taken from the EYE DEF 14A filed Apr 20, 2006.
Termination as a Result of Death or Disability.   In the event that the executive’s employment is terminated as a result of death or disability, the executive will receive severance pay that includes:

·       Executive’s base salary until, in the case of the executive’s death, the earlier of (i) twelve months after the date of the executive’s death and (ii) the last day of the term of the employment agreement and, in the case of the executive’s disability, the date the executive begins to receive benefits under the long term disability insurance, but in no event following twelve months after the date of termination;

·       a prorated portion of the executive’s targeted annual bonus;

·       an amount representing the executive’s unused accrued vacation time (at his or her base salary rate) through the date of termination;

·       continued medical and other welfare plan coverage for the executive (in the case of his disability) and the executive’s eligible dependents for twelve months.

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