Death or Total Disability of Employee. If Employee dies or becomes totally disabled during the Term of Employment, the Term of Employment shall automatically terminate and Employer's obligation to compensate Employee under this Agreement shall in all respects cease, except that Employer shall pay Employee or Employee's estate, within thirty (30) days of such death or disability, an amount equal to the base compensation and vacation benefits provided for under Section 4 hereof accrued and unpaid ("Accrued Compensation") as of the time of such death or disability and Employee shall be entitled to such other benefits provided for under Sections 4.2 and 4.3 hereof which have accrued and have not been forfeited as of the time of such death or disability when and if provided to be paid pursuant to the terms of any applicable Employer plans or programs, including without limitation the then-accrued portion of Employee's annual bonus for the current year that is otherwise projected to be payable (based on current operating results) in the event Employee were to have remained employed through the normal payment date of such bonus ("Accrued Benefits"). For purposes of this Section 6, Employee shall reasonably be deemed "totally disabled" as of the time the Board of Directors shall find, on the basis of medical evidence satisfactory to the Board of Directors, that, as a result of a mental or physical condition, Employee is unable to perform his normal duties of employment hereunder or is prevented from engaging in the same level of performance as he engaged in prior to the onset of such condition, giving effect to any reasonable accommodations which can be made by Employer, and that such disability is likely to continue for a substantial period of time.
Appears in 1 contract
Death or Total Disability of Employee. If Employee dies or becomes totally disabled during the Term of Employment, the Term of Employment shall automatically terminate and Employer's ’s obligation to compensate Employee under this Agreement shall in all respects cease, except that Employer shall pay Employee or Employee's estate, within thirty (30) days of such death or disabilitydisability (or sooner if required by law), an amount equal to the base compensation and vacation benefits provided for under Section 4 hereof accrued and unpaid ("“Accrued Compensation"”) as of the time of such death or disability and Employee shall be entitled to such other benefits provided for under Sections 4.2 and 4.3 hereof Section 4 which have accrued and have not been forfeited as of the time of such death or disability when and if provided to be paid pursuant to the terms of any applicable Employer plans or programs, including without limitation the then-accrued portion of the Employee's ’s annual bonus for the current year that is otherwise projected to be payable (based on current operating results) in the event Employee were to have remained employed through the normal payment date of such bonus ("“Accrued Benefits"”). For purposes of this Section 6Section, Employee shall reasonably be deemed "“totally disabled" ” as of the time the Board of Directors shall find, on the basis of medical evidence satisfactory to the Board of DirectorsBoard, that, as a result of a mental or physical condition, Employee is unable to perform his normal duties of employment hereunder or is prevented from engaging in the same level of performance as he engaged in prior to the onset of such condition, giving effect to any reasonable accommodations which can be made by Employer, and that such disability is likely to continue for a substantial period of time. Notwithstanding the foregoing, it is agreed that Employer’s obligation to make the payments contemplated by this Section is subject to Employee’s compliance with the provisions of Section 3 of this Agreement.
Appears in 1 contract
Death or Total Disability of Employee. If Employee dies or becomes totally disabled during the Term of Employment, the Term of Employment shall automatically terminate and Employer's ’s obligation to compensate Employee under this Agreement shall in all respects cease, except that Employer shall pay Employee or Employee's ’s estate, within thirty (30) days of such death or disability, an amount equal to the base compensation and vacation benefits provided for under Section 4 hereof accrued and unpaid ("“Accrued Compensation"”) as of the time of such death or disability and Employee shall be entitled to such other benefits provided for under Sections 4.2 and 4.3 Section 4 hereof which have accrued and have not been forfeited as of the time of such death or disability when and if provided to be paid pursuant to the terms of any applicable Employer plans or programs, including without limitation the then-accrued portion of Employee's ’s annual bonus for the current year that is otherwise projected to be payable (based on current operating results) in the event Employee were to have remained employed through the normal payment date of such bonus ("“Accrued Benefits"”). For purposes of this Section 6, Employee shall reasonably be deemed "“totally disabled" ” as of the time the Board of Directors shall find, on the basis of medical evidence satisfactory to the Board of Directors, that, as a result of a mental or physical condition, Employee is unable to perform his normal duties of employment hereunder or is prevented from engaging in the same level of performance as he engaged in prior to the onset of such condition, giving effect to any reasonable accommodations which can be made by Employer, and that such disability is likely to continue for a substantial period of time.
Appears in 1 contract
Death or Total Disability of Employee. If Employee dies or becomes totally disabled during the Term of Employment, the Term of Employment shall automatically terminate and Employer's ’s obligation to compensate Employee under this Agreement shall in all respects cease, except that Employer shall pay Employee or Employee's estate, within thirty (30) days of such death or disabilitydisability (or sooner if required by law), an amount equal to the base compensation and vacation benefits provided for under Section 4 hereof accrued and unpaid ("“Accrued Compensation"”) as of the time of such death or disability and Employee shall be entitled to such other benefits provided for under Sections 4.2 and 4.3 hereof Section 4 which have accrued and have not been forfeited as of the time of such death or disability when and if provided to be paid pursuant to the terms of any applicable Employer plans or programs, including without limitation an amount equal to the then-accrued portion product of (x) the annual bonus that would have been paid to Employee with respect to the year of termination had the termination of employment not occurred and (y) a fraction, the numerator of which is the number of days in the fiscal year through the date of Employee's annual bonus for ’s termination and the current year that denominator of which is otherwise projected to be payable 365 (based on current operating results) in the event Employee were to have remained employed through the normal payment date of such bonus ("“Accrued Benefits"”). For purposes of this Section 6Section, Employee shall reasonably be deemed "“totally disabled" ” as of the time the Board of Directors shall find, on the basis of medical evidence satisfactory to the Board of DirectorsBoard, that, as a result of a mental or physical condition, Employee is unable to perform his normal duties of employment hereunder or is prevented from engaging in the same level of performance as he engaged in prior to the onset of such condition, giving effect to any reasonable accommodations which can be made by Employer, and that such disability is likely to continue for a substantial period of time. Notwithstanding the foregoing, it is agreed that Employer’s obligation to make the payments contemplated by this Section is subject to Employee’s compliance with the provisions of Section 3 of this Agreement.
Appears in 1 contract