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Common use of Executive’s Death or Disability Clause in Contracts

Executive’s Death or Disability. In the event of Executive’s termination of employment during the Term due to his death or Disability, then the Company shall have no further obligations to Executive other than for: (1) the payment of Accrued Obligations; (2) the accelerated vesting of any issued and unvested Equity Bonus and Long Term Equity granted pursuant to Sections 3(c) and (e); and (3) for termination during the Term due to Disability, the COBRA benefits granted pursuant to Section 5(c)(2)(iv).

Appears in 2 contracts

Samples: Employment Agreement (GTJ Reit, Inc.), Employment Agreement (GTJ Reit, Inc.)

Executive’s Death or Disability. In the event of Executive’s termination of employment during the Term due to his death or Disability, then the Company shall have no further obligations to Executive other than for: (1) the payment of Accrued Obligations;; and (2) the accelerated vesting of any issued and unvested Equity Bonus and Long Term Equity granted pursuant to Sections 3(c) and (e); and (3) for termination during the Term due to Disability, the COBRA benefits granted pursuant to Section 5(c)(2)(iv).

Appears in 2 contracts

Samples: Employment Agreement (GTJ REIT, Inc.), Employment Agreement (GTJ REIT, Inc.)