Common use of Disability of the Employee Clause in Contracts

Disability of the Employee. In the event that the Employee becomes incapacitated during the Term by reason of sickness, accident or other mental or physical disability such that he is substantially unable to perform his duties and responsibilities hereunder for a period of 60 consecutive days, or for shorter or intermittent periods aggregating 90 days during any 12-month period (a "Disability"), the Company thereafter shall have the right, in its sole and absolute discretion, to terminate the Employee's employment under this Agreement by sending written notice of such termination to the Employee or its legal guardian or other proper legal representative and thereupon his employment hereunder shall immediately cease and terminate. In the event of any such termination, the Employee shall be entitled to receive and be paid solely the Employee's salary then in effect through the effective date of termination and the Company shall have no further liability or other obligation of any kind whatsoever to the Employee.

Appears in 11 contracts

Samples: Consulting Agreement (Unicapital Corp), Employment Agreement (Unicapital Corp), Employment Agreement (Unicapital Corp)

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Disability of the Employee. In the event that the Employee becomes incapacitated during the Term by reason of sickness, accident or other mental or physical disability such that he is substantially unable to perform performance his duties and responsibilities hereunder for a period of 60 consecutive days, or for shorter or intermittent periods aggregating 90 days during any 12-month period (a "Disability"), the Company thereafter shall have the right, in its sole and absolute discretion, to terminate the Employee's employment under this Agreement by sending written notice of such termination to the Employee or its legal guardian or other proper legal representative and thereupon his employment hereunder shall immediately cease and terminate. In the event of any such termination, the Employee shall be entitled to receive and be paid solely the Employee's salary then in effect through the effective date of termination and the Company shall have no further liability or other obligation of any kind whatsoever to the Employee.

Appears in 3 contracts

Samples: Employment Agreement (Unicapital Corp), Employment Agreement (Unicapital Corp), Employment Agreement (Unicapital Corp)

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