Common use of Death, Retirement, Disability Clause in Contracts

Death, Retirement, Disability. (i) The Executive’s employment shall terminate automatically upon his death or Retirement. (ii) If the Company determines in good faith that the Disability (as defined below) of the Executive has occurred during the Employment Period, it may give to Executive written notice of its intention to terminate the Executive’s employment. “Disability” shall mean the inability of the Executive, as reasonably determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental illness which has lasted for a period of six (6) consecutive months. At the request of the Executive or his personal representative, the Board’s determination that the Disability of the Executive has occurred shall be certified by a physician mutually agreed upon by the Executive, or his personal representative, and the Company.

Death, Retirement, Disability. (i) The Executive’s employment shall terminate automatically upon his death or Retirement. (ii) If the Company determines in good faith that the Disability (as defined below) of the Executive has occurred during the Employment Period, it may give to the Executive written notice of its intention to terminate the Executive’s employment. “Disability” shall mean the inability of the Executive, as reasonably determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental illness which has lasted for a period of six (6) consecutive months. At the request of the Executive or his personal representative, the Board’s determination that the Disability of the Executive has occurred shall be certified by a physician mutually agreed upon by the Executive, or his personal representative, and the Company.