Illness, Incapacity or Death Sample Clauses

Illness, Incapacity or Death. This Agreement shall terminate upon Employee's illness, incapacity or death in accordance with the provisions of Sections 7 and 8 herein.
Sample 1Sample 2Sample 3See All (23)
AutoNDA by SimpleDocs
Illness, Incapacity or Death. (a) If, during the term of this Agreement, Employee should be prevented from performing his duties by reason of illness or incapacity for an aggregate of one hundred eighty (180) days in any twelve (12) month period, then Company may immediately terminate this Agreement by ten (10) days notice in writing, in which event this Agreement shall thereupon terminate, and the provisions of Section 14 shall not apply and no further payments shall be due Employee from Company other than pursuant to any employee benefit plan or fringe benefit in which Employee participates. (b) If Employee dies during the term of this Agreement, this Agreement shall thereupon terminate, the provisions of Section 14 shall not apply and no further payments shall be due Employee from Company other than pursuant to any employee benefit plan or fringe benefit in which Employee participates.
Sample 1Sample 2Sample 3See All (7)
Illness, Incapacity or Death. In the event of illness or incapacity of Executive, Bowmxx xxxll continue Executive's Base Salary for a period of ninety (90) days or such time as the Executive is eligible for consideration for long-term disability benefits, whichever occurs last. If Executive is unable to perform the essential elements of his job due to illness or incapacity for a period greater than ninety (90) days, Bowmxx xxx elect, in its sole determination, to terminate this Agreement with no further obligation to Executive, except for any amounts earned by, or accrued for, Executive under any employee benefit plans in which the Executive is then a participant, earned and unpaid salary and accrued and unused vacation pay and any rights of Executive under any bonus or stock option agreement, which right has been earned by Executive at the time of such termination pursuant to the terms of such plan or agreement. If Executive should die during the term of this Agreement, Executive's heir shall be 7 8 paid by Bowmxx x xotal amount equal to ninety (90) days' Base Salary, be entitled to whatever rights the heir may have under Executive's stock option plan, and be granted applicable COBRA rights; Bowmxx'x xxxaining obligations hereunder shall terminate as of the end of the month in which Executive's death occurs.
Sample 1See All (5)
Illness, Incapacity or Death a. In event that the Employee shall, during his active employment hereunder, become unable to perform the services agreed to be rendered by him by reason of illness or other incapacity, he shall be entitled to immediate payment of all deferred compensation, plus interest, as provided for herein, based upon the time of service to the termination of his employment on account of such illness or other incapacity. b. In the event of the death of the Employee during his employment hereunder, , his legal representative shall be entitled to receive, and the Corporation shall pay, the fixed compensation, deferred or otherwise, plus accrued interest, of the Employee as provided herein, up to the last day of the month in which the death of the Employee shall have occurred.
Sample 1
Illness, Incapacity or Death. In the event of the death or disability of the Consultant or the Consultant's illness or incapacity resulting in the disability of the Consultant while this Agreement is in effect, this Agreement shall terminate and all amounts accrued for the benefit of the Consultant to that date shall be paid to the Consultant or the estate of the Consultant, as the case may be. Such payment shall fully discharge all obligations of the Company to the Consultant (or his estate) under this Agreement. For purposes of this Agreement, "disability" shall mean the inability of the Consultant to perform the Consulting Services for One Hundred Twenty (120) consecutive days, such inability to be documented to the reasonable satisfaction of the Board of Directors by appropriate correspondence from duly licensed and registered physicians.
Sample 1
Illness, Incapacity or Death. In the event of illness or incapacity of Employee, Employer shall continue Employee's salary for six months and may, at its sole option, continue payment of Employee's salary until he or she is able to return to work. If Employee is unable to work due to illness or incapacity for a period greater than six months, Employer may elect, in its discretion, to terminate this Agreement. If Employee should die during the term of this Agreement, Employee's employment shall be treated as terminated and Employer's obligations hereunder shall terminate as of the end of the month in which Employee's death occurs. Employee's death during a payout period under paragraph 6 of this Agreement shall, however, not be treated the same as a death during employment, i.e., the obligation to make payments under paragraph 6 shall not terminate as of the end of the month in which death occurs.
Sample 1
Illness, Incapacity or Death. (a) If at any time during the term of this Agreement, the Executive becomes Disabled (as defined herein) and he has not breached any of the provisions of this Agreement, compensation shall continue to be paid to him as provided in Paragraph 3 above but only as to the first 90-day period during which he shall be so disabled. The Company may, at its sole option, continue payment of Executive's salary until he is able to return to work or for such period greater than 90 days as the Company elects, or may terminate this Agreement. For purposes of this section "Disabled" shall mean, with respect to Executive, the inability of Executive, by reason of injury, illness or other similar cause (as determined by a licensed physician, selected by the Executive or his representative and approved by the President of the Company), to have performed his duties and responsibilities for a period of one hundred eighty (180) consecutive days.
Sample 1
AutoNDA by SimpleDocs
Illness, Incapacity or Death 
Sample 1

Related to Illness, Incapacity or Death

  • Disability or Death Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the Company if Executive becomes physically or mentally incapacitated and is therefore unable for a period of six consecutive months or for an aggregate of nine months in any twenty-four consecutive month period to perform Executive’s duties (such incapacity is hereinafter referred to as “Disability”). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability by such physician made in writing to the Company and Executive shall be final and conclusive for all purposes of this Agreement. Upon termination of Executive’s employment hereunder for either death or Disability, Executive or Executive’s estate, as applicable, shall be entitled to receive: (i) the Accrued Rights; (ii) a pro rata portion of Executive’s target Annual Bonus for the fiscal year in which Executive’s termination occurs, calculated as the total amount of such target Annual Bonus for the full year multiplied by the number of months or partial months of Executive’s employment during the year of Executive’s termination divided by 12, payable pursuant to Section 4 as if Executive’s employment had not terminated; provided, in the event of Executive’s termination on account of Disability, Executive has executed and delivered (and not revoked) the Release (as hereinafter defined) within the time period specified in Section 12(h); and (iii) a cash lump sum payment equal to the greater of (A) one-half of Executive’s Base Salary as in effect on the date of Executive’s termination, or (B) one-half of the aggregate amount of Base Salary that Executive would have received had the Employment Term continued until the end date specified in Section 1 hereof, payable on the 60th day following the date of Executive’s death or termination on account of Disability; provided, in the event of Executive’s termination on account of Disability, Executive has executed and delivered (and not revoked) the Release within the time period specified in Section 12(h). (iv) Following such termination of Executive’s employment and, if required, payment of the amounts set forth in this Section 8(b), neither Executive nor Executive’s estate, as applicable, shall have any further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Section 5 and any Long Term Incentive compensation program.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. (b) Executive shall be entitled to receive benefits under all short-term or long-term disability plans maintained by the Bank for its executives. To the extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits, Social Security disability benefits and the amount of Executive’s Base Salary for the longer of one (1) year following the termination of his employment due to Disability or the remaining term of this Agreement, which shall be payable in accordance with the regular payroll practices of the Bank. (c) The Bank shall cause to be continued non-taxable medical and dental coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to the termination of his employment based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) expiration of the remaining term of this Agreement; or (iv) Executive’s death. (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death in accordance with the regular payroll practices of the Bank for a period of one (1) year from the date of Executive’s death, and the Bank shall continue to provide non-taxable medical, and dental insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. Such payments are in addition to any other life insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans.

  • Termination Due to Death, Disability or Retirement In the event the Optionee’s employment or other service with the Company and all Subsidiaries is terminated by reason of death, Disability or Retirement, this Option will remain exercisable, to the extent exercisable as of the date of such termination, for a period of one year after such termination (but in no event after the Time of Termination).

  • Death or Permanent Disability If Grantee shall die or become permanently disabled while employed by the Company or one of its affiliates, this Option shall expire one (1) year after the date of such death or permanent disability. During such period after death, Grantee's legal representative or representatives, or the person or persons entitled to do so under Grantee's last will and testament or under applicable interstate laws, shall have the right to exercise this Option as to only the number of shares to which Grantee was entitled to purchase on the date of his/her death.

  • Death, Disability or Retirement Subject to the provisions of Section 1 hereof, this Agreement shall terminate automatically upon the Executive's death, termination due to "Disability" (as defined below) or voluntary retirement under any of the Company's retirement plans as in effect from time to time. For purposes of this Agreement, Disability shall mean the Executive has met the conditions to qualify for long-term disability benefits under the Company's policies, as in effect immediately prior to the Effective Date.

  • Termination Due to Death or Disability The expiration of one (1) year from the date of the death of the Optionee or cessation of an Optionee’s employment or contractual relationship by reason of disability (as defined in Section 5.1(g) of the Plan). If an Optionee’s employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee’s rights under such Option shall pass by the Optionee’s will or by the laws of descent and distribution.

  • Termination of Employment Due to Death or Disability If your employment with the Company terminates due to death or Disability, in each case, prior to the Vesting Date, your Adjusted PSUs will vest and convert into Shares on the Adjustment Date (even though you are not employed by the Company on the Vesting Date). Upon a termination of employment due to death, the Adjusted PSUs shall be delivered in accordance with Section 10.

  • Termination Upon Death or Permanent Disability This Agreement shall be automatically terminated on the death of Executive or on the permanent disability of Executive if Executive is no longer able to perform in all material respects the usual and customary duties of Executive’s employment hereunder. For purposes hereof, any condition which in reasonable likelihood is expected to impair Executive’s ability to materially perform Executive’s duties hereunder for a period of three months or more shall be considered to be permanent.

  • Death The Executive’s employment hereunder shall terminate upon his death.

  • Death or Total Disability In the event of the death of the Executive during the Term, this Agreement shall terminate as of the date of the Executive's death. In the event of the Total Disability (as that term is defined below) of the Executive for sixty (60) days in the aggregate during any consecutive nine (9) month period during the Term, the Company shall have the right to terminate this Agreement by giving the Executive thirty (30) days' prior written notice thereof, and upon the expiration of such thirty (30) day period, the Executive's employment under this Agreement shall terminate. If the Executive shall resume his duties within thirty (30) days after receipt of such a notice of termination and continue to perform such duties for four (4) consecutive weeks thereafter, this Agreement shall continue in full force and effect, without any reduction in Base Salary and other benefits, and the notice of termination shall be considered null and void and of no effect. Upon termination of this Agreement under this Paragraph 7(a), the Company shall have no further obligations or liabilities under this Agreement, except to pay to the Executive's estate or the Executive, as the case may be, (i) the portion, if any, that remains unpaid of the Base Salary for the Year in which termination occurred, but in no event less than six (6) months' Base Salary; and (ii) the amount of any expenses reimbursable in accordance with Paragraph 4 above, and any automobile allowance due under Paragraph 5 above; and (iii) any amounts due under any Company benefit, welfare or pension plan. Except as otherwise provided by their terms, any stock options not vested at the time of the termination of this Agreement under this Paragraph 7(a) shall immediately become fully vested.

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