Death and Total Disability Sample Clauses

Death and Total Disability. Executive’s employment under this Agreement shall terminate immediately upon his death or Total Disability (as defined below). For purposes of this Agreement, the term “Total Disability” shall mean any mental or physical condition that: (i) prevents Executive from reasonably discharging his services and employment duties hereunder; (ii) is attested to in writing by a physician who is licensed to practice in the State of New York and is mutually acceptable to Executive and the Company (or, if the Executive and the Company are unable to mutually agree on a physician, the Company Board may select a physician who is a chairman of a department of medicine at a university-affiliated hospital in the City of New York); and (iii) continues, for any one or related condition, during any period of six (6) consecutive months or for a period aggregating six (6) months in any twelve-month period. Total Disability shall be deemed to have occurred on the last day of such applicable six-month period.
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Death and Total Disability. If your active employment ceases during the vesting period as a result of your death or Total Disability, your stock option will become fully exercisable. You (or your beneficiary) will have [five years] after the date of your death or termination due to Total Disability to exercise your vested stock options (or, if earlier, until the Expiration Date).]
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Death and Total Disability. In the case of a termination of Employee's employment as a result of the Employee's death or Employee's Total Disability, Employee shall not be entitled to receive any payments hereunder, other than those set forth in Section 7.1(b) hereof.
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Death and Total Disability. If the Consultant dies during the Term, this Agreement will end as of the date of the Consultant's death. The Company will pay the Consultant's compensation for the remaining Term to Consultant's beneficiary or estate. In case of Total Disability (as defined below) of the Consultant for any consecutive twelve months during the Term, the Company will have the right to end this Agreement by giving the Consultant thirty (30) days' prior written notice, and upon the expiration of such thirty (30) day period, the Consultant's employment under this Agreement will end. If there is such a termination, the Company will pay Consultant his Compensation for the remaining Term. If the Consultant will resume his duties within thirty (30) days after receipt of such a notice of termination, this Agreement will continue in full force and effect. Upon termination of this Agreement under this Section 9(a), the Company will have no further obligations or liabilities
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Death and Total Disability. In the event of the death or total disability, the Executive, during the period of his Executive Employment, his Executive Salary shall continue to be paid to the Executive, or his Estate as the case may be, at the same rate that it was on the date of such disability. If the Executive shall receive any disability payments from any insurance policy paid for by the Corporation, the payments to the Executive during any period of disability shall be reduced by the amount of disability payments received by the Executive under any such insurance policy or policies. For the purposes of this Agreement, disability shall mean mental or physical illness or condition rendering the Executive incapable of performing his normal duties with the Corporation.
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Death and Total Disability. Executive’s employment under this Agreement shall terminate immediately upon his death or Total Disability (as defined below). For purposes of this Agreement, the term “Total Disability” shall mean any mental or physical condition that:
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Death and Total Disability. If your active employment ceases during the applicable performance period [or vesting period, if later] as a result of your death or Total Disability, you will be eligible to receive, as soon as practicable following the end of the applicable performance period [or vesting period, if later], a prorated award for the portion of the applicable period you were actively employed] [your award will be fully vested at target and paid within 60 days following your separation from service.] [However, receipt of this award will remain subject to the achievement of the applicable performance criteria.]]
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Death and Total Disability. If the Consultant dies during the Term, this Agreement will end as of the date of the Consultant's death. The Company will pay the Consultant's compensation for the remaining Term to Consultant's beneficiary or estate. In case of Total Disability (as defined below) of the Consultant for any consecutive twelve months during the Term, the Company will have the right to end this Agreement by giving the Consultant thirty (30) days' prior written notice, and upon the expiration of such thirty (30) day period, the Consultant's employment under this Agreement will end. If there is such a termination, the Company will pay Consultant his Compensation for the remaining Term. If the Consultant will resume his duties within thirty (30) days after receipt of such a notice of termination, this Agreement will continue in full force and effect. Upon termination of this Agreement under this Section 9(a), the Company will have no further obligations or liabilities under this Agreement, except to pay to the Consultant's estate or the Consultant, as the case may be, the portion of Compensation that remains unpaid for the Term, including minimum increases and continuation of benefits. The term "Total Disability", as used herein, will man a mental or physical condition that in the reasonable opinion of an independent medical doctor selected by the Company renders the Consultant unable or incompetent to carry out the material duties and responsibilities of the Consultant under this Agreement at the time the Consultant incurred the disabling condition. If the Consultant is covered under any policy of disability insurance under Section 4, the definition of Total Disability hereunder will be the definition of that term in such policy. The Company may only terminate this Agreement for cause under this Section 9(b) or under Section 9(a) of this Agreement. Cause for termination exists only if the Consultant is convicted of a felony involving fraud or violation of the Federal Securities laws, or a court of competent jurisdiction finds that the Consultant has engaged in conduct involving the Company that constitutes gross negligence or intentional misconduct. If the Company terminates the Consultant under this section, all unvested options or stock grants will be void and the Consultant will not receive any Compensation or benefit continuation.
Sample 1
Death and Total Disability. This Agreement shall automatically terminate upon the death of Consultant or upon the determination of a Total Disability of Consultant and thereafter the Company shall pay to Consultant's heirs, executors, personal representatives or legal guardians, as the case may be, all Compensation that would otherwise have been payable to Consultant for the balance of the then current Term, in one lump-sum within 30 days of Consultant's death or Total Disability.
Sample 1

Related to Death and Total Disability

  • Total Disability (a) Total disability, as used in this Plan, means the complete inability because of an accident or sickness of a covered employee to perform all the duties of his/her own occupation for the first two (2) years of disability. Thereafter, employees able by reason of education, training or experience to perform the duties of a gainful occupation for which the rate of pay is not less than seventy-five percent (75%) of the current rate of pay of their regular occupation at date of disability will not be considered totally disabled and will therefore not be eligible for benefits under this Long Term Disability Plan.

  • Death or Total Disability In the event of the death of the Executive during the Term, this Agreement shall terminate as of the date of the Executive's death. In the event of the Total Disability (as that term is defined below) of the Executive for sixty (60) days in the aggregate during any consecutive nine (9) month period during the Term, the Company shall have the right to terminate this Agreement by giving the Executive thirty (30) days' prior written notice thereof, and upon the expiration of such thirty (30) day period, the Executive's employment under this Agreement shall terminate. If the Executive shall resume his duties within thirty (30) days after receipt of such a notice of termination and continue to perform such duties for four (4) consecutive weeks thereafter, this Agreement shall continue in full force and effect, without any reduction in Base Salary and other benefits, and the notice of termination shall be considered null and void and of no effect. Upon termination of this Agreement under this Paragraph 7(a), the Company shall have no further obligations or liabilities under this Agreement, except to pay to the Executive's estate or the Executive, as the case may be, (i) the portion, if any, that remains unpaid of the Base Salary for the Year in which termination occurred, but in no event less than six (6) months' Base Salary; and (ii) the amount of any expenses reimbursable in accordance with Paragraph 4 above, and any automobile allowance due under Paragraph 5 above; and (iii) any amounts due under any Company benefit, welfare or pension plan. Except as otherwise provided by their terms, any stock options not vested at the time of the termination of this Agreement under this Paragraph 7(a) shall immediately become fully vested.

  • Permanent Disability Permanent Disability" shall mean Employee's physical or mental incapacity to perform his or her usual duties with such condition likely to remain continuously and permanently as determined by Employer.

  • Termination for Permanent Disability If Executive’s employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of termination at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time such payments are due, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, (iii) an amount equal to Executive’s Bonus for the year in which the date of termination occurs prorated for the period during such year Executive was employed prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, and (iv) for the period beginning on the date of termination and ending on the date which is twelve (12) full months following the date of termination (or, if earlier, the date on which Executive accepts employment with another employer that provides comparable benefits in terms of cost and scope of coverage), the Company shall pay for and provide Executive and his or her dependents with healthcare and life insurance benefits which are substantially the same as the benefits provided to Executive immediately prior to the date of termination, including, if necessary, paying the costs associated with continuation coverage pursuant to COBRA. In addition, if Executive’s employment is terminated by the Company for Permanent Disability, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of termination as to the number of shares that would vest over the twelve (12) months following Executive’s date of termination under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by Permanent Disability, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s disability shall apply.

  • Death, Disability, Retirement This Agreement shall terminate upon the death, disability or retirement of Executive. As used in this Agreement, the term "disability" shall mean Executive's inability, as a result of physical or mental incapacity, to substantially perform his duties with the Bank for a period of 180 consecutive days. Any question as to the existence of Executive's disability upon which the Executive and the Bank cannot agree shall be determined by a qualified independent physician mutually agreeable to Executive and the Bank or, if the parties are unable to agree upon a physician within ten (10) days after notice from either to the other suggesting a physician, by a physician designated by the then president of the medical society for the county in which Executive maintains his principal residence, upon the request of either party. The costs of any such medical examination shall be borne by the Bank. If Executive is terminated due to disability he shall be paid 100% of his Base Salary at the rate in effect at the time notice of termination is given for the remainder of the Employment Term, payable in substantially equal monthly installments less, in each case, any disability payments otherwise payable under plans provided by the Bank for disability or any governmental social security or workers compensation program, and actually paid to Executive in substantially equal monthly installments.

  • Death; Disability If Executive’s employment terminates due to Executive’s death or Disability, then the Company shall pay or provide Executive (or the legal representative of his estate in the case of his death) with:

  • Termination by Reason of Total Disability In the event that Executive's employment is terminated by reason of Executive's Total Disability as determined in accordance with Section 5(b), the Company shall pay the following amounts to Executive:

  • Death or Permanent Disability If Grantee shall die or become permanently disabled while employed by the Company or one of its affiliates, this Option shall expire one (1) year after the date of such death or permanent disability. During such period after death, Grantee's legal representative or representatives, or the person or persons entitled to do so under Grantee's last will and testament or under applicable interstate laws, shall have the right to exercise this Option as to only the number of shares to which Grantee was entitled to purchase on the date of his/her death.

  • By Disability If Executive becomes eligible for the Company’s long term disability benefits or if, in the sole opinion of the Company, Executive is unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental impairment for more than ninety consecutive days or more than one hundred and twenty days in any twelve-month period, then, to the extent permitted by law, the Company may terminate Executive’s employment. The Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination, and thereafter all obligations of the Company under this Agreement shall cease. Nothing in this Section shall affect Executive’s rights under any disability plan in which Executive is a participant.

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