Illness, Incapacity or Death During Employment. (a) If by reason of illness, injury or incapacity, the Employee is unable, despite reasonable accommodation, to perform his services or discharge his duties hereunder on a full time basis for ninety (90) or more consecutive days or one hundred twenty (120) days in the aggregate during any twelve (12) month period (or any such longer periods as may be required by law), then the Company may terminate the employment of the Employee by written notice to Employee, and, thereupon, all obligations of the Company to provide compensation and benefits under this Agreement shall cease, other than the payment of that portion of the base salary earned by the Employee to the date of termination, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including such date. (b) In the event of the Employee’s death, all obligations of the Company to provide compensation and benefits under this Agreement shall cease, other than the payment of that portion of the base salary earned by the Employee to the date of death, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including such date. (c) This Section 5 shall not limit the entitlement of Employee, his estate or beneficiaries to any disability or other benefits available to Employee under any disability insurance or other benefits plan or policy maintained by the Company for Employee’s benefit.
Appears in 1 contract
Samples: Employment Agreement (Adam Inc)
Illness, Incapacity or Death During Employment. (a) If by reason of illness, injury or incapacity, the Employee is unable, despite reasonable accommodation, to perform his her services or discharge his her duties hereunder on a full time basis for ninety (90) or more consecutive days or one hundred twenty (120) days in the aggregate during any twelve (12) month period (or any such longer periods as may be required by law), then the Company may terminate the employment of the Employee by written notice to Employee, and, thereupon, all obligations subject to Section 6(b) below, the Employee will be entitled to receive Employee's base salary, paid in equal monthly installments, for the duration of this agreement. Notwithstanding the foregoing, if the Company maintains a disability insurance policy for the benefit of the Employee and the Employee qualifies for the payments under such policy, the Company shall be obligated to provide compensation and benefits under this Agreement shall ceasepay to the Employee only the difference, other than the payment of that portion of the if any, between Employee's base salary earned by and the Employee to the date of termination, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including payments under such datepolicy.
(b) In the event of the Employee’s 's death, all obligations of the Company to provide compensation and benefits under this Agreement shall ceaseterminate, other than the Employee's rights with respect to the payment of that portion of the base salary earned by the Employee to the date of death, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his her responsibilities and duties for the Company prior to and including such date.
(c) This Section 5 shall not limit the entitlement of Employee, his estate or beneficiaries to any disability or other benefits available to Employee under any disability insurance or other benefits plan or policy maintained by the Company for Employee’s benefit.
Appears in 1 contract
Samples: Merger Agreement (Adam Inc)
Illness, Incapacity or Death During Employment. (a) If by reason of illness, injury or incapacity, the Employee is unable, despite reasonable accommodation, to perform his services or discharge his duties hereunder on a full time basis for ninety (90) or more consecutive days or one hundred twenty (120twenty(120) days in the aggregate during any twelve (12) month period (or any such longer periods as may be required by law), then upon ten (10) days' prior notice, the Company may terminate the employment of Employee, and thereupon, Employee shall be paid his base salary from the Employee date of termination through the 10-day notice period. If the Company maintains a long term disability insurance policy for the benefit of Employee, then, notwithstanding the previous sentence, the Company may by written notice to the Employee, and, thereuponterminate the employment of the Employee at any time after the Employee qualifies for the payment of benefits under such policy.
(b) In the event of Employee's death, all obligations of the Company to provide compensation and benefits under this Agreement shall cease, terminate other than Employee's rights with respect to the payment of that portion of the base salary earned by the Employee to the date of terminationdeath, a pro rata share (through the date of death) of any bonus due Employee (based on the year ending immediately subsequent to the date of death), plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including such date.
(b) In the event of the Employee’s death, all obligations of the Company to provide compensation and benefits under this Agreement shall cease, other than the payment of that portion of the base salary earned by the Employee to the date of death, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including such date.
(c) This Section 5 shall not limit the entitlement of Employee, his estate or beneficiaries to any disability or other benefits available to Employee under any disability insurance or other benefits plan or policy maintained by the Company for Employee’s benefit.
Appears in 1 contract
Illness, Incapacity or Death During Employment. (a) If by reason of illness, injury or incapacity, the Employee is unable, despite reasonable accommodation, to perform his services or discharge his duties hereunder on a full time basis for ninety (90) or more consecutive days or one hundred twenty (120) days in the aggregate during any twelve (12) month period (or any such longer periods as may be required by law), then the Company may terminate the employment of the Employee by written notice to Employee, and, thereupon, all obligations of the Company subject to provide compensation and benefits under this Agreement shall ceaseSection 6(b) below, other than the payment of that portion of the base salary earned by the Employee will be entitled to receive Employee's base salary, paid in equal monthly installments, for a period of twelve (12) months following the date of such termination. Notwithstanding the foregoing, plus reimbursement if the Company maintains a disability insurance policy for the benefit of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties the Employee qualifies for the payments under such policy, the Company prior shall be obligated to pay to the Employee only the difference, if any, between Employee's base salary and including the payments under such datepolicy.
(b) In the event of the Employee’s 's death, all obligations of the Company to provide compensation and benefits under this Agreement shall ceaseterminate, other than the Employee's rights with respect to the payment of that portion of the base salary earned by the Employee to the date of death, plus reimbursement of all pre-approved expenses that were reasonably incurred by the Employee in performing his responsibilities and duties for the Company prior to and including such date.
(c) This Section 5 shall not limit the entitlement of Employee, his estate or beneficiaries to any disability or other benefits available to Employee under any disability insurance or other benefits plan or policy maintained by the Company for Employee’s benefit.
Appears in 1 contract
Samples: Employment Agreement (Adam Inc)