Common use of DEATH OR DISABILITY DURING TERM OF EMPLOYMENT Clause in Contracts

DEATH OR DISABILITY DURING TERM OF EMPLOYMENT. 6.1 Upon termination of Executive’s employment pursuant to Section 5.4, Executive or his estate or personal representative, as the case may be, shall be entitled to receive Executive’s Base Salary and benefits for a period of one month following the date of death or the date when Executive becomes completely disabled. 6.2 The term “completely disabled” as used in this Agreement shall mean the inability of Executive to perform the essential functions of his position under this Agreement by reason of any incapacity, physical or mental, which the Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Executive, which approval shall not be unreasonably withheld, determines to have incapacitated Executive from satisfactorily performing any or all essential functions of his position for the Company during the foreseeable future. Based upon such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for purposes of this Agreement.

Appears in 5 contracts

Samples: Employment Agreement (Maxim Pharmaceuticals Inc), Employment Agreement (Maxim Pharmaceuticals Inc), Employment Agreement (Maxim Pharmaceuticals Inc)

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DEATH OR DISABILITY DURING TERM OF EMPLOYMENT. 6.1 7.1 Upon termination of Executive’s employment pursuant to Section 5.46.4, Executive or his her estate or personal representative, as the case may be, shall be entitled to receive Executive’s Base Salary and benefits for a period of one month following the date of death or the date when Executive becomes completely disabled. 6.2 7.2 The term “completely disabled” as used in this Agreement shall mean the inability of Executive to perform the essential functions of his her position under this Agreement by reason of any incapacity, physical or mental, which the Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Executive, which approval shall not be unreasonably withheld, determines to have incapacitated Executive from satisfactorily performing any or all essential functions of his her position for the Company during the foreseeable future. Based upon such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for purposes of this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Maxim Pharmaceuticals Inc), Employment Agreement (Maxim Pharmaceuticals Inc)

DEATH OR DISABILITY DURING TERM OF EMPLOYMENT. 6.1 Upon termination of Executive’s employment pursuant to Section 5.4, Executive or his her estate or personal representative, as the case may be, shall be entitled to receive Executive’s Base Salary and benefits for a period of one month following the date of death or the date when Executive becomes completely disabled. 6.2 The term “completely disabled” as used in this Agreement shall mean the inability of Executive to perform the essential functions of his her position under this Agreement by reason of any incapacity, physical or mental, which the Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Executive, which approval shall not be unreasonably withheld, determines to have incapacitated Executive from satisfactorily performing any or all essential functions of his her position for the Company during the foreseeable future. Based upon such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for purposes of this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Maxim Pharmaceuticals Inc), Employment Agreement (Maxim Pharmaceuticals Inc)

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DEATH OR DISABILITY DURING TERM OF EMPLOYMENT. 6.1 Upon termination of Executive’s 's employment pursuant to Section 5.4, Executive or his estate or personal representative, as the case may be, shall be entitled to receive Executive’s 's Base Salary and benefits for a period of one month following the date of death or the date when Executive becomes completely disabled. 6.2 The term "completely disabled" as used in this Agreement shall mean the inability of Executive to perform the essential functions of his position under this Agreement by reason of any incapacity, physical or mental, which the Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Executive, which approval shall not be unreasonably withheld, determines to have incapacitated Executive from satisfactorily performing any or all essential functions of his position for the Company during the foreseeable future. Based upon such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for purposes of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Maxim Pharmaceuticals Inc)

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