Common use of Death or Disability Payments Clause in Contracts

Death or Disability Payments. In the event of the Employee's disability or death, Employee's salary in effect at the time of his death or disability shall continue to be paid to the Employee, or to his designee, for a period of twelve (12) calendar months from the date of death or from the date of Employee's termination by reason of disability. For the purposes of this Employment Agreement, the obligations of the Employer to make the payments upon the disability of Employee shall not become effective unless and until all of the following conditions are met, as determined by an independent physician selected by the Board of Directors and agreed to by Employee: (1) Employee shall become physically or mentally incapable (excluding infrequent and temporary absences due to ordinary illnesses) of properly performing the services required of him in accordance with his obligations under paragraph 2 hereof or similar provisions of any renewal agreement; (2) such incapacities shall exist or be reasonably expected to exist for more than ninety (90) days in the aggregate during the period of twelve (12) consecutive months; and (3) either Employee or Employer shall have given the other thirty (30) days' written notice of his or its intention to terminate the active employment of Employee because of such disability. The benefits payable hereunder shall be in addition to, and shall not be offset against, any amounts paid to Employee or his spouse by reason of insurance benefits pursuant to Paragraph 4.2 above. 4.6

Death or Disability Payments. In the event of the Employee's disability or death, Employee's salary in effect at the time of his death or disability shall continue to be paid to the Employee, or to his designee, for a period of twelve (12) calendar months from the date of death or from the date of Employee's termination by reason of disability. For the purposes of this Employment Agreement, the obligations of the Employer to make the payments upon the disability of Employee shall not become effective unless and until all of the following conditions are met, as determined by an independent physician selected by the Board of Directors and agreed to by Employee: (1) Employee shall become physically or mentally incapable (excluding infrequent and temporary absences due to ordinary illnesses) of properly performing the services required of him in accordance with his obligations under paragraph Paragraph 2 hereof or similar provisions of any renewal agreement; (2) such incapacities shall exist or be reasonably expected to exist for more than ninety (90) days in the aggregate during the period of twelve (12) consecutive months; and (3) either Employee or Employer shall have given the other thirty (30) days' written notice of his or its intention to terminate the active employment of Employee because of such disability. The benefits payable hereunder shall be in addition to, and shall not be offset against, any amounts paid to Employee or his spouse designee by reason of insurance benefits pursuant to Paragraph 4.2 above. 4.6.

Death or Disability Payments. In the event of the Employee's disability or death, Employee's salary in effect at the time of his death or disability shall continue to be paid to the Employee, or to his designee, for a period of twelve (12) calendar months from the date of death or from the date of Employee's termination by reason of disability. For the purposes of this Employment Agreement, the obligations of the Employer to make the payments upon the disability of Employee shall not become effective unless and until all of the following conditions are met, as determined by an independent physician selected by the Board of Directors and agreed to by Employee: (1) Employee shall become physically or mentally incapable (excluding infrequent and temporary absences due to ordinary illnesses) of properly performing the services required of him in accordance with his obligations under paragraph Paragraph 2 hereof or similar provisions of any renewal agreement; (2) such incapacities shall exist or be reasonably expected to exist for more than ninety (90) days in the aggregate during the period of twelve (12) consecutive months; and (3) either Employee or Employer shall have given the other thirty (30) days' written notice of his or its intention to terminate the active employment of Employee because of such disability. The benefits payable hereunder shall be in addition to, and shall not be offset against, any amounts paid to Employee or his spouse designee by reason of insurance benefits pursuant to Paragraph 4.2 above. 4.6