Common use of Death; Disability Clause in Contracts

Death; Disability. The Executive's employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive continuing for a period of one hundred eighty (180) days. Upon any such termination of the Executive's employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive or his estate under any applicable disability or life insurance policy is less than the amount the Executive would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive officers of the Company, pro-rated on the basis of the number of days of the Executive's actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the Executive's group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the Executive, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive of the termination of his employment hereunder due to permanent disability.

Appears in 7 contracts

Samples: Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc)

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Death; Disability. The Executive's employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive continuing for a period of one hundred eighty (180) days. Upon any such termination of If the Executive's employment, all obligations ’s employment terminates because of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments his death as provided by in Section 4(a) shall continue to be made to or because of a Disability as provided in Section 4(b), then the Executive (or his authorized representative or estate) shall be entitled to (i) the Accrued Obligations earned through the Term Termination Date (payable at the time provided for in Section 5(a)). (ii) the Executive’s Annual Bonus for the fiscal year in which the Executive’s termination occurs based on the actual achievement of performance criteria for that year payable at the same time bonuses for such year are paid to other senior executives of the Company. (iii) Subject to the Executive’s or, in the event of his death, his eligible dependents’ timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as extended by any Renewal Term) but only if amended (“COBRA”), the Company shall reimburse the Executive and/or his eligible dependents the monthly premium payable to continue his and his eligible dependents’ participation in the Company’s group health plan (to the extent payments to permitted under applicable law and the terms of such plan) which covers the Executive or his estate under any applicable disability or life insurance policy is less than (and the amount Executive’s eligible dependents) for a period of eighteen (18) months, provided that the Executive is eligible and remains eligible for COBRA coverage and such eligibility is not limited by the Executive’s death; and provided, further, that in the event that the Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company shall immediately cease. If the reimbursement of any COBRA premiums would otherwise receive violate the nondiscrimination rules or cause the reimbursement of claims to be taxable under the Patient Protection and Affordable Care Act of 2010, together with the Health Care and Education Reconciliation Act of 2010 (collectively, the “Act”) or Section 105(h) of the Code, the Company paid premiums shall be treated as Base Salary hereunder, (ii) Bonus taxable payments with respect and be subject to the calendar year within which such termination occurred on the basis of and imputed income tax treatment to the extent contemplated in necessary to eliminate any bonus plan then in effect with respect to senior executive officers discriminatory treatment or taxation under the Act or Section 105(h) of the Company, pro-rated on the basis of the number of days of the Executive's actual employment hereunder during such calendar year through the Date of Termination, and Code. (iiiiv) in the case of permanent disabilitya termination due to Disability, in addition to the aforementioned compensation, benefits and awards, continuation at of the Company's expense Base Salary in effect on the date of health insurance benefits (medical and dental) termination until the first earlier of (A) the eighteenth month anniversary of the Date date of Termination termination, and (B) the date Executive is eligible to the extent permitted commence receiving payments under the Executive's group health insurance Company’s long-term disability policy. As used hereinIf the net compensation from the Base Salary is greater than the net compensation from the long-term disability policy, the term "permanent disability" or "permanently disabled" means Company, through the inability eighteenth month anniversary of the date of termination will compensate the Executive, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities ’s estate the difference in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive of the termination of his employment hereunder due to permanent disabilitynet compensation.

Appears in 4 contracts

Samples: Employment Agreement (Petro River Oil Corp.), Employment Agreement (Petro River Oil Corp.), Employment Agreement (Petro River Oil Corp.)

Death; Disability. The Executive's ’s employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive continuing for a period of one hundred eighty (180) days. Upon any such termination of the Executive's ’s employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary Base Salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive or his estate under any applicable disability or life insurance policy is less than the amount the Executive would otherwise receive as Base Salary hereunder, (ii) Bonus bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive officers of the Company, pro-rated on the basis of the number of days of the Executive's ’s actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's ’s expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the Executive's Company’s group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the Executive, by reason of injury, illness or other similar cause, after reasonable accommodation by the Company, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive of the termination of his employment hereunder due to permanent disability. Should a dispute occur concerning the Executive’s mental or physical capacity as described in this Section 6(c), a doctor selected by the Executive and a doctor selected by the Company shall be entitled to examine the Executive. If the opinion of the Company’s doctor and the Executive’s doctor conflict, the Company’s doctor and the Executive’s doctor shall together agree upon a third doctor, whose opinion shall be binding. This Section 6(c) shall survive the termination of this Agreement for any reason.

Appears in 4 contracts

Samples: Employment Agreement (Harvest Health & Recreation Inc.), Employment Agreement (Harvest Health & Recreation Inc.), Employment Agreement (Albany Molecular Research Inc)

Death; Disability. The Executive's ’s employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive continuing for a period of one hundred eighty (180) days. Upon any such termination of the Executive's ’s employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive or his estate under any applicable disability or life insurance policy is less than the amount the Executive would otherwise receive as Base Salary hereunder, (ii) Bonus bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive officers of the Company, pro-rated on the basis of the number of days of the Executive's ’s actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's ’s expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the Executive's ’s group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the Executive, by reason of injury, illness or other similar cause, after reasonable accommodation by the Company, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive of the termination of his employment hereunder due to permanent disability. The provisions of the Technology Development Incentive Plan shall apply to matters related to any technical incentive compensation being received at the time of disability or death of the executive.

Appears in 3 contracts

Samples: Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc)

Death; Disability. The ExecutiveEmployee's employment under this Agreement ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive Employee continuing for a period of one hundred eighty (180) days. Upon any such termination of the ExecutiveEmployee's employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive Employee (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive Employee or his estate under any applicable disability or life insurance policy is less than the amount the Executive Employee would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive Employee officers of the Company, pro-rated on the basis of the number of days of the ExecutiveEmployee's actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the ExecutiveEmployee's group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the ExecutiveEmployee, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive Employee of the termination of his employment hereunder due to permanent disability.

Appears in 3 contracts

Samples: Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc), Employment Agreement (Albany Molecular Research Inc)

Death; Disability. The Executive's Employee’s employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive Employee continuing for a period of one hundred eighty (180) days. Upon any such termination of the Executive's Employee’s employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive Employee (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive Employee or his estate under any applicable disability or life insurance policy is less than the amount the Executive Employee would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive Employee officers of the Company, pro-rated on the basis of the number of days of the Executive's Employee’s actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's ’s expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the Executive's Employee’s group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the ExecutiveEmployee, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive Employee of the termination of his employment hereunder due to permanent disability.

Appears in 1 contract

Samples: Employment Agreement (Albany Molecular Research Inc)

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Death; Disability. The ExecutiveEmployee's employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive Employee continuing for a period of one hundred eighty (180) days. Upon any such termination of the ExecutiveEmployee's employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive Employee (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive Employee or his estate under any applicable disability or life insurance policy is less than the amount the Executive Employee would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive Employee officers of the Company, pro-rated on the basis of the number of days of the ExecutiveEmployee's actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the ExecutiveEmployee's group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the ExecutiveEmployee, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive Employee of the termination of his employment hereunder due to permanent disability.

Appears in 1 contract

Samples: Employment Agreement (Albany Molecular Research Inc)

Death; Disability. The Executive's ’s employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive continuing for a period of one hundred eighty (180) days. Upon any such termination of the Executive's ’s employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive or his estate under any applicable disability or life insurance policy is less than the amount the Executive would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive officers of the Company, pro-rated on the basis of the number of days of the Executive's ’s actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's ’s expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the Executive's ’s group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the Executive, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive of the termination of his employment hereunder due to permanent disability. The provisions of the Technology Development Incentive Plan shall apply to matters related to any technical incentive compensation being received at the time of disability or death of the executive.

Appears in 1 contract

Samples: Employment Agreement (Albany Molecular Research Inc)

Death; Disability. The ExecutiveEmployee's employment under this ----------------- Agreement may be terminated by the Company upon the earlier of death or permanent disability (as defined below) of the Executive Employee continuing for a period of one hundred eighty (180) days. Upon any such termination of the ExecutiveEmployee's employment, all obligations of the Company under this Agreement shall thereupon immediately terminate other than any obligations with respect to (i) earned but unpaid salary through the Date of Termination; provided that Base Salary -------- payments as provided by Section 4(a) shall continue to be made to the Executive Employee (or his estate) through the Term (as extended by any Renewal Term) but only if and to the extent payments to the Executive Employee or his estate under any applicable disability or life insurance policy is less than the amount the Executive Employee would otherwise receive as Base Salary hereunder, (ii) Bonus payments with respect to the calendar year within which such termination occurred on the basis of and to the extent contemplated in any bonus plan then in effect with respect to senior executive Employee officers of the Company, pro-rated on the basis of the number of days of the ExecutiveEmployee's actual employment hereunder during such calendar year through the Date of Termination, and (iii) in the case of permanent disability, continuation at the Company's expense of health insurance benefits (medical and dental) until the first anniversary of the Date of Termination to the extent permitted under the ExecutiveEmployee's group health insurance policy. As used herein, the term "permanent disability" or "permanently disabled" means the inability of the ExecutiveEmployee, by reason of injury, illness or other similar cause, to perform a major part of his duties and responsibilities in connection with the conduct of the business and affairs of the Company. The Company shall provide written notice to the Executive Employee of the termination of his employment hereunder due to permanent disability.

Appears in 1 contract

Samples: Employment Agreement (Albany Molecular Research Inc)

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