Common use of Bases for Termination Clause in Contracts

Bases for Termination. (a) Executive's employment hereunder may be terminated at any time by mutual agreement of the parties. (b) This Agreement and Executive's employment with the Company shall automatically terminate on the date on 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 based upon a certification of such incapacity by, in the sole discretion of the Company, either Executive's regularly attending physician or a duly licensed physician selected by the Company, rendering Executive unable to perform substantially all of his or her 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 30 days after the Company has determined that Executive is permanently incapacitated and so notifies Executive.

Appears in 3 contracts

Samples: Employment Agreement (Arpeggio Acquisition Corp), Employment Agreement (Arpeggio Acquisition Corp), Employment Agreement (Arpeggio Acquisition Corp)

AutoNDA by SimpleDocs

Bases for Termination. (a) Executive's ’s employment hereunder may be terminated at any time by mutual agreement of the parties. (b) This Agreement and Executive's ’s employment with the Company shall automatically terminate on the date on 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 based upon a certification of such incapacity by, in the sole discretion of the Company, either Executive's ’s regularly attending physician or a duly licensed physician selected by the Company, rendering Executive unable to perform substantially all of his or her 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 30 days after the Company has determined that Executive is permanently incapacitated and so notifies Executive.

Appears in 3 contracts

Samples: Employment Agreement (Summer Infant, Inc.), Employment Agreement (KBL Healthcare Acquisition Corp. II), Employment Agreement (Endeavor Acquisition Corp.)

AutoNDA by SimpleDocs

Bases for Termination. (a1) Executive's employment hereunder may be terminated at any time by mutual agreement of the parties. (b2) This Agreement and Executive's employment with the Company shall automatically terminate on upon the date on which Executive dies Executive's death or becomes permanently incapacitatedincapacity. "Permanent incapacityIncapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company Company's Board of Directors based upon a certification of such incapacity by, in the sole 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 or her duties hereunder and which appears reasonably certain to continue for at least six 60 consecutive months days without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date 30 days after the Company Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive.

Appears in 1 contract

Samples: Employment Agreement (Medical Resources Inc /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!