Bases for Termination. (a) Executive's employment hereunder may be terminated at any time by mutual agreement of the parties. (b) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive.
Appears in 9 contracts
Samples: Employment Agreement (Accelr8 Technology Corp), Employment Agreement (Accelr8 Technology Corp), Employment Agreement (GDC Group Inc)
Bases for Termination. (a1) ExecutiveManager's employment hereunder may be terminated at any time by mutual agreement of the parties.
(b2) This Agreement shall automatically terminate on the last day of the month in which Executive Manager dies or becomes permanently incapacitated. "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either ExecutiveManager's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive Manager unable to perform substantially all of his duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive Manager shall be deemed to have "become permanently incapacitated" on the date the Company's Board of Directors has determined that Executive Manager is permanently incapacitated and so notifies ExecutiveManager.
Appears in 2 contracts
Samples: Employment Agreement (Mercer Capital Inc), Employment Agreement (Mercer Capital Inc)
Bases for Termination. (a) Executive's employment hereunder may be terminated at any time and upon such terms and conditions as shall be mutually agreed in writing by mutual agreement of Executive and the partiesCompany.
(b) This Agreement Executive's employment hereunder shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed independent physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his duties hereunder and which in the opinion of such physician appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies ExecutiveExecutive in writing.
Appears in 1 contract
Samples: Employment Agreement (National Securities Corp/Wa/)
Bases for Termination. (a1) Executive's employment hereunder may be terminated at any time by mutual agreement of the parties.
(b2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive.
Appears in 1 contract
Samples: Employment Agreement (Patcomm Corp)
Bases for Termination. (a1) Executive's employment hereunder may be terminated at any time by mutual agreement of the parties.
(b2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected agreed to by the Executive and the Company's Board of Directors, rendering Executive unable to perform substantially all of his duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive.
Appears in 1 contract
Samples: Employment Agreement (Solomon Alliance Group Inc /Az)