Disability or Death of Employee. Any Stock delivered pursuant to Section 4 shall be delivered to the Employee if legally competent or to a legally designated guardian or representative if the Employee is legally incompetent. If the Employee is not then living, the Stock shall be delivered to the representative of the Employee’s estate.
Disability or Death of Employee. If the Employee's employment by the Company or any Subsidiary of the Company is terminated by reason of death or disability or if the Employee dies or becomes permanently and totally disabled (within the meaning of Section 22 of the Internal Revenue Code) during the period referred to in Paragraph 5 hereof, this Option shall automatically expire and terminate twelve (12) months after the date of the Employee's disability or death, but no later than the Expiration Date specified in Paragraph 2 hereof. After Employee's death but before such expiration, the person or persons to whom the Employee's rights under this Option shall have passed by order of a court of competent jurisdiction or by will or the applicable laws of descent and distribution, or the executor, administrator or conservator of the Employee's estate, shall have the right to exercise this Option to the extent, if any, that it had become exercisable as of the date of termination of employment.
Disability or Death of Employee. 5.1 SCOH shall obtain death and disability insurance on Employee listing SCOH as the beneficiary in the minimum amount of $5,000,000. In the event Employee dies or becomes disabled during the Employment Period, entitling SCOH to receive payment under the insurance policy, SCOH's obligation to pay Employee further Base Salary and benefits shall cease. Notwithstanding the forgoing, Employee or his estate shall be entitled to all accrued but unpaid Base Salary and other benefits due to Employee through the date of death or disability.
Disability or Death of Employee. In the event of the Employee’s Termination of Service due to Disability as defined in accordance with categories 2 and 3 under Section L. 341-4 of the French social security code, the Employee may, within one (1) year after the date of such Termination or Service, or prior to the Expiration Date, whichever shall first occur, exercise any vested but unexercised portion of this option. The holding period restricting the exercisability of this option as specified in Article 2 of the French Plan will not apply in case of Disability as described in Section L. 341-4 of the French social security code provided conditions set forth under Section 91-ter of the Exhibit II of the French tax code are satisfied. In the event that the Employee dies while in the employ of the Company and/or an Affiliate or during the three (3) month or one (1) year periods referred to in Paragraph 4 above and this Paragraph, the Employee’s designated beneficiary, or if no beneficiary survives the Employee, the administrator or executor of the Employee’s estate, may, within six (6) months after the date of death, exercise any vested but unexercised portion of the option. Any such transferee must furnish the Company (a) written notice of his or her status as a transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of this option and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and conditions of this option as set forth in this Agreement. The holding period restricting the exercisability of this option as specified in Article 2 of the French Plan will not apply in case of Disability. If, on the date of Employee’s death, the Employee is not vested as to this entire option, the Shares covered by the unvested portion of this option shall revert to the Plan. If, after the Employee’s death, the Employee or Employee’s designated beneficiary or estate does not exercise this option within the time specified by this Agreement, this option shall terminate, and the Shares covered by this option shall revert to the Plan.
Disability or Death of Employee. In the event of total and permanent disability or the death of Employee, the Agreement shall terminate as of the date of such death or disability. For this purpose, "total and permanent disability" shall mean a determination of the inability of Employee, due to mental and/or physical conditions, to perform the majority of his duties of his position with the Employer, for a continuous period of sixty (60) days.
Disability or Death of Employee. 5.1 IACP shall obtain death and disability insurance on Employee listing IACP as the beneficiary in the minimum amount of $5,000,000. In the event Employee dies or becomes disabled during the Employment Period, entitling IACP to receive payment under the insurance policy, IACP's obligation to pay Employee further Base Salary and benefits shall cease. Notwithstanding the forgoing, Employee or his estate shall be entitled to all accrued but unpaid Base Salary and other benefits due to Employee through the date of death or disability.
Disability or Death of Employee. In the event Employee shall become unable to perform his duties hereunder by reason of illness or incapacity for a period of six (6) consecutive months, and such period commences before the Company has given any notice of termination under Section 7 of this Agreement, Employee shall be paid, in lieu of all other compensation payable hereunder, 100% of his salary during such six (6) months and 60% of his salary during the ensuing six (6) months. LP 1602778.3 \ 34991-74964 Notwithstanding the foregoing, Employee will be included under any long-term disability plan maintained by the Company for its employees generally. In addition, during Employee's employment by the Company and without limiting the provisions of Section 6 of this Agreement, the Company will provide an aggregate of $500,000 of term life insurance to Employee. In the event of Employee’s death, Employee’s employment shall terminate immediately, and the Company shall pay to Employee’s legal representative Employee’s then–current base salary through the date of termination, and no other amounts shall be due and payable by the Company to Employee or his representatives subsequent to the date of termination.
Disability or Death of Employee
