Common use of Death or Permanent Disability of Executive Clause in Contracts

Death or Permanent Disability of Executive. Subject to the payment to Executive of the amounts required by Section 7.3 below, this Agreement will terminate immediately upon the death or permanent disability of Executive, whereupon Executive shall have no further rights or be entitled to any other benefits of this Agreement, other than the payments and benefits referred to in Section 7.3 below. Executive will be deemed permanently disabled for the purpose of this Agreement if, in the good faith determination of the Board of Directors, based on sound medical advice, Executive has become physically or mentally incapable of performing his duties hereunder for a continuous period of one hundred eighty (180) days, in which event Executive will be deemed permanently disabled upon the expiration of such one hundred eighty (180) day period.

Death or Permanent Disability of Executive. Subject to the payment to Executive of the amounts required by Section 7.3 6.3 below, this Agreement will terminate immediately upon the death or permanent disability of Executive, whereupon Executive shall have no further rights or be entitled to any other benefits of this Agreement, other than the payments and benefits referred to in Section 7.3 6.3 below. Executive will be deemed permanently disabled for the purpose of this Agreement if, in the good faith determination of the Board of Directors, based on sound medical advice, Executive has become physically or mentally incapable of performing his duties hereunder for a continuous period of one hundred eighty (180) days, in which event Executive will be deemed permanently disabled upon the expiration of such one hundred eighty (180) day period.