Disability and Other Benefits Sample Clauses

Disability and Other Benefits. If the Executive suffers any illness, disability or incapacity which prevents the Executive from performing the Executive's duties hereunder, and such illness, disability or incapacity shall be deemed by a duly licensed physician (who may be the Executive's personal physician) to be permanent; or, if the Executive is unable to render full-time services to the Company of the character required hereunder for a period of six (6) consecutive months by reason of illness, disability or incapacity, and the Board has determined that the Executive has been permanently disabled; then, and in either of such events, the Executive shall render such advisory and consulting services to the Company as may be reasonably requested of the Executive by the Board and officers of the Company but only to the extent that the Executive is able to perform such services. In such event, the Executive shall be paid the amount of One Hundred Sixty-One Thousand Five Hundred Dollars ($161,500) annually, payable in equal installments in conformity with the Company's normal payroll period. Such disability compensation shall commence upon the first day of the first month following the determination that the Executive's illness, disability or incapacity is permanent, and shall be paid for the balance of the Term even if the Executive's Employee's illness, disability or incapacity prevents the rendering by the Executive of any services to the Company and continues for the entire remaining Term. During such periods of disability, the Company reserves the right to, at its own expense, have a licensed physician examine the person of the Executive when and as often as it may reasonably require to determine if the Executive is permanently disabled. The Executive's disability compensation hereunder shall be reduced by the amount of any disability insurance proceeds paid to or for the benefit of the Executive under any policy, the premiums for
Sample 1Sample 2
AutoNDA by SimpleDocs
Disability and Other Benefits. If the Executive suffers any illness, disability or incapacity which prevents the Executive from performing the Executive's duties hereunder, and such illness, disability or incapacity shall be deemed by a duly licensed physician (who may be the Executive's personal physician) to be permanent; or, if the Executive is unable to render full-time services to the Company of the character required hereunder for a period of six (6) consecutive months by reason of illness, disability or incapacity, and the Board has determined that the Executive has been permanently disabled; then, and in either of such events, the Executive shall render such advisory and consulting services to the Company as may be reasonably requested of the Executive by the Board and officers of the Company but only to the
Sample 1Sample 2
Disability and Other Benefits. If the Executive suffers any illness, disability or incapacity which prevents the Executive from performing the Executive's duties hereunder, the Company shall continue the Executive's Base Salary, fringe benefits and Incentive Compensation until the later of the end of the Term (or any Renewal Term) of this Agreement or the commencement of salary continuation benefits under a policy of long-term disability insurance obtained by the Company pursuant to Section 6.02, whereupon the Agreement shall terminate.
Sample 1Sample 2
Disability and Other Benefits. If the Executive suffers any illness, disability or incapacity which prevents the Executive from performing the Executive's duties hereunder, and such illness, disability or incapacity shall be deemed by a duly licensed physician
Sample 1Sample 2

Related to Disability and Other Benefits

  • Compensation and Other Benefits Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder:

  • Vacation and Other Benefits Each Contract Year, Executive shall be entitled to four (4) weeks of paid vacation in accordance with Employer’s applicable policies and procedures for executive-level employees. Executive shall also be eligible to participate in and receive the fringe benefits generally made available to other executive-level employees of Employer in accordance with and to the extent that Executive is eligible under the general provisions of Employer’s fringe benefit plans or programs; provided, however, that Executive understands that these benefits may be increased, changed, eliminated or added from time to time during the Term as determined in Employer’s sole and absolute discretion.

  • Insurance and Other Benefits During the Employment Period, the Executive and the Executive’s dependents shall be entitled to participate in the Company’s insurance programs and any ERISA benefit plans, as the same may be adopted and/or amended from time to time (the “Benefits”). The Executive shall be entitled to paid personal days on a basis consistent with the Company’s other senior executives, as determined by the Board. The Executive shall be bound by all of the policies and procedures established by the Company from time to time. However, in case any of those policies conflict with the terms of this Agreement, the terms of this Agreement shall control.

  • Expense Reimbursement and Other Benefits (a) During the term of Executive’s employment hereunder, pursuant to Applica’s Travel and Expense Policy and upon the submission of proper substantiation by the Executive, including copies of all relevant invoices, receipts or other evidence reasonably requested by Applica, Applica shall reimburse the Executive for all reasonable expenses actually paid or incurred by the Executive in the course of and pursuant to the business of Applica or any Affiliates.

  • Expenses and Other Benefits 6.1 The Company shall promptly reimburse to the Executive all reasonable travel and other out of pocket expenses properly incurred by him in the performance of his duties under the Employment. The Executive will submit claims for expenses reimbursement to the Company regularly with appropriate supporting documentation.

  • Executive Perquisites, Benefits and Other Compensation Employee shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below:

  • Impact on Other Benefits The value of the Restricted Shares (either on the date hereof or at the time the Restricted Shares vest) shall not be includable as compensation or earnings for purposes of any benefit plan offered by the Corporation.

  • Vacation and Other Leave During the Period of Employment, the Executive shall accrue and be entitled to take paid vacation in accordance with the Company’s vacation policies in effect from time to time, including the Company’s policies regarding vacation accruals; provided that the Executive’s rate of vacation accrual during the Period of Employment shall be no less than three (3) weeks per year. The Executive shall also be entitled to all other holiday and leave pay generally available to other executives of the Company.

  • No Impact on Other Benefits The value of the Participant’s Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

  • Effect on Other Benefits In no event shall the value, at any time, of the RSUs or any other payment under this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the Company or any subsidiary of the Company unless otherwise specifically provided for in such plan. The RSUs and the underlying shares of Common Stock (or their cash equivalent), and the income and value of the same, are not part of normal or expected compensation or salary for any purpose including, but not limited to, calculation of any severance, resignation, termination, redundancy or end-of-service payments, holiday pay, bonuses, long-service awards, leave-related payments, pension or retirement benefits, or similar mandatory payments.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!