Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the Executive. However, Executive shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his status as an Executive shall continue during such periods. However, if the Executive qualifies for short term disability payments under Employer's standard short term disability plan during such leave, Executive shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts when combined with the short term disability payments to equal Executive's monthly compensation as set forth in paragraph 3(a) of this Agreement. However, during the last three (3) months of any such six (6) month period, Executive shall accept payments under Employer's standard short term disability plan in lieu of any salary payments set forth in Section 3(a) above. If Executive is incapacitated due to physical or mental illness and such incapacity prevents Executive from satisfactorily performing his duties for the Company on a full time basis for six (6) months or more during a single fiscal year, Executive shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that Employer terminates this Agreement on the basis of the Executive's permanent disability, the Executive shall be entitled to a cash payment equal to the Executive's annual salary as of the date of termination. The Company shall make such payment within thirty (30) days of such termination.
Appears in 6 contracts
Samples: Employment Agreement (At Track Communications Inc), Employment Agreement (At Track Communications Inc), Employment Agreement (At Track Communications Inc)
Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the ExecutiveEmployee. However, Executive Employee shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives Employees for illness or temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his status as an Executive Employee shall continue during such periods. However, if the Executive Employee qualifies for short term disability payments under Employer's ’s standard short term disability plan during such leave, Executive Employee shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive Employee receives such monthly amounts when combined with the short term disability payments to equal Executive's Employee’s monthly compensation as set forth in paragraph 3(a) of this Agreement. However, during the last three (3) months of any such six (6) month period, Executive Employee shall accept payments under Employer's ’s standard short term disability plan in lieu of any salary payments set forth in Section 3(a) above. If Executive Employee is incapacitated due to physical or mental illness and such incapacity prevents Executive Employee from satisfactorily performing his duties for the Company on a full time basis for six (6) months or more during a single fiscal year, Executive Employee shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that Employer terminates this Agreement on the basis of the Executive's Employee’s permanent disability, the Executive Employee shall be entitled to a cash payment equal to the Executive's Employee’s annual salary as of the date of termination. The Company shall make such payment within thirty (30) days of such termination.
Appears in 5 contracts
Samples: Amended and Restated (Remote Dynamics Inc), Employment Agreement (Remote Dynamics Inc), Employment Agreement (Remote Dynamics Inc)
Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the Executive. However, Executive shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his status as an Executive shall continue during such periods. However, if the Executive qualifies for short term disability payments under Employer's standard short term disability plan during such leave, Executive shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts when combined with the short term disability payments to equal Executive's monthly compensation as set forth in paragraph 3(a) of this Agreement. However, during the last three (3) months of any such six (6) month period, Executive shall accept payments under Employer's standard short term disability plan in lieu of any salary payments set forth in Section 3(a) above. If Executive is incapacitated due to physical or mental illness and such incapacity prevents Executive from satisfactorily performing his duties for the Company on a full time basis for six (6) months or more during a single fiscal year, Executive shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that Employer terminates this Agreement on the basis of the Executive's permanent disability, the Executive shall be entitled to a cash payment equal to the Executive's annual salary as of the date of termination. The Company shall make such payment within thirty (30) days of such termination.
Appears in 5 contracts
Samples: Employment Agreement (Remote Dynamics Inc), Employment Agreement (Remote Dynamics Inc), Employment Agreement (Remote Dynamics Inc)
Death or Permanent Disability. The employment relationship This Agreement, and Executive’s employment, shall be ----------------------------- terminated effective on the death or permanent disability of the Executive. However, Executive shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or temporary disabilities for a period or periods not exceeding six three (63) months on a cumulative basis in any calendar year, and his status as an Executive shall continue during such periods. However, if the Executive qualifies for short term disability payments under Employer's the Company’s standard short term disability plan during such leave, Executive shall apply to receive such short term disability payments. Employer The Company shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts amounts, when combined with the short term disability payments payments, equal to equal Executive's ’s monthly compensation salary then in effect as set forth in paragraph 3(a) of this Agreement. However, during the last three (3) months of any such six (6) month period, Executive shall accept payments under Employer's standard short term disability plan in lieu of any salary payments set forth in Agreement Section 3(a) above5. If Executive is incapacitated due to physical or mental illness and such incapacity prevents Executive from satisfactorily performing his duties for the Company on a full time basis for six (6) months or more during a single fiscal yearmore, Executive shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In Upon the event that Employer terminates termination of this Agreement on due to the basis death or permanent disability of Executive, Executive or his estate (as the Executive's permanent disability, the Executive case may be) shall be entitled to compensation as provided in Agreement Section 8(a) below. If during the period of Executive’s incapacity, Executive is deemed to have incurred a cash payment equal “separation from service” under Section 409A because there is no reasonable expectation that he will return to perform services for the Company, Executive shall be entitled, as a disability benefit, to continuation of his monthly salary as described in Agreement Section 5(a) above until the date on which this Agreement is terminated under this Agreement Section 7(a) (the “Disability Period”), provided, however, that such payments shall be reduced on a dollar-for-dollar basis by the amount of bona fide disability pay (within the meaning of Treas. Reg. section 1.409A-1(a)(5)) received or receivable by Executive during the Disability Period, provided such disability payments are made pursuant to a plan sponsored by the Company that covers a substantial number of employees of the Company and was established prior to the date Executive incurred a permanent disability, and further provided that such reduction does not otherwise affect the time of payment of Executive's annual ’s base salary as of the date of termination. The Company shall make such payment within thirty (30) days of such terminationpursuant to this Agreement Section 7(a).
Appears in 4 contracts
Samples: Retirement Transition and Award Agreement (Texas Capital Bancshares Inc/Tx), Executive Employment Agreement (Texas Capital Bancshares Inc/Tx), Executive Employment Agreement (Texas Capital Bancshares Inc/Tx)
Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the ExecutiveEmployee. However, Executive The Employee shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or other temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his her status as an Executive employee shall continue during such periods. HoweverProvided, if the Executive qualifies that Employee shall apply for Employer's short term disability insurance payments under Employer's standard short term disability plan during such leavesix month period, Executive shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts when combined with the short term disability payments to equal ExecutiveEmployee's monthly total compensation as set forth in paragraph 3(a) of under this Agreement. However, and during the last three (3) months of any such six (6) month period, Executive period Employee shall accept payments under the Employer's standard short term disability plan (as referenced in Section 3(b) above) in lieu of any salary payments amounts set forth in Section Sections 3(a) above. If Executive is incapacitated If, as a result of Employee's incapacity due to physical or mental illness and such incapacity which prevents Executive Employee from satisfactorily performing his duties for the Company on a full time basis and such incapacity is determined to be total and permanent such that the Employee will have been unable to perform her duties on a full-time basis for six (6) months or more during a single fiscal year, Executive the Employee shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that Employer terminates this Agreement on the basis of the Executive's permanent disability, the Executive shall be entitled to a cash payment equal to the Executive's annual salary as of the date of termination. The Company shall make such payment within thirty (30) days of such termination.
Appears in 1 contract
Samples: Employment Agreement (Highwaymaster Communications Inc)
Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the ExecutiveEmployee. However, Executive The Employee shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or other temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his status as an Executive employee shall continue during such periods. HoweverProvided, if the Executive qualifies that Employee shall apply for Employer's short term disability insurance payments under Employer's standard short term disability plan during such leavesix month period, Executive shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts when combined with the short term disability payments to equal ExecutiveEmployee's monthly total compensation as set forth in paragraph 3(a) of under this Agreement. However, and during the last three (3) months of any such six (6) month period, Executive period Employee shall accept payments under the Employer's standard short term disability plan (as referenced in Section 3(b) above) in lieu of any salary payments amounts set forth in Section Sections 3(a) above. If Executive is incapacitated If, as a result of Employee's incapacity due to physical or mental illness and such incapacity which prevents Executive Employee from satisfactorily performing his duties for the Company on a full time basis and such incapacity is determined to be total and permanent such that the Employee will have been unable to perform her duties on a full-time basis for six (6) months or more during a single fiscal year, Executive the Employee shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that If Employer terminates this Agreement on the basis of the Executive's permanent disabilitypursuant to this sub-section, the Executive Employee shall be entitled to a cash payment equal to the Executive's annual salary compensation as of the date of termination. The Company shall make such payment within thirty (30) days of such terminationspecifically provided in Section 7 below.
Appears in 1 contract
Samples: Employment Agreement (Highwaymaster Communications Inc)
Death or Permanent Disability. The employment relationship shall be ----------------------------- terminated effective on the death or permanent disability of the ExecutiveEmployee. However, Executive The Employee shall be entitled to leaves of absence from the Company in accordance with the policy of the Company generally applicable to executives for illness or other temporary disabilities for a period or periods not exceeding six (6) months in any calendar year, and his her status as an Executive employee shall continue during such periods. HoweverProvided, if the Executive qualifies that Employee shall apply for Employer's short term disability insurance payments under Employer's standard short term disability plan during such leavesix month period, Executive shall apply to receive such short term disability payments. Employer shall supplement such short term disability payments during the first three (3) months of any such six (6) month period so that Executive receives such monthly amounts when combined with the short term disability payments to equal ExecutiveEmployee's monthly total compensation as set forth in paragraph 3(a) of under this Agreement. However, and during the last three (3) months of any such six (6) month period, Executive period Employee shall accept payments under the Employer's standard short term disability plan (as referenced in Section 3(b) above) in lieu of any salary payments amounts set forth in Section Sections 3(a) above. If Executive is incapacitated If, as a result of Employee's incapacity due to physical or mental illness and such incapacity which prevents Executive Employee from satisfactorily performing his duties for the Company on a full time basis and such incapacity is determined to be total and permanent such that the Employee will have been unable to perform her duties on a full-time basis for six (6) months or more during a single fiscal year, Executive the Employee shall be deemed to have experienced a permanent disability and the Company may terminate this Agreement upon thirty (30) days written notice. In the event that If Employer terminates this Agreement on the basis of the Executive's permanent disabilitypursuant to this sub-section, the Executive Employee shall be entitled to a cash payment equal to the Executive's annual salary compensation as of the date of termination. The Company shall make such payment within thirty (30) days of such terminationspecifically provided in Section 7 below.
Appears in 1 contract
Samples: Employment Agreement (Highwaymaster Communications Inc)