Common use of Illness, Incapacity or Death Clause in Contracts

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.

Appears in 1 contract

Samples: Executive Employment Agreement (Bowmar Instrument Corp)

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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, 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.Bowmxx'x

Appears in 1 contract

Samples: Executive Employment Agreement (Bowmar Instrument Corp)

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, 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Bowmar Instrument Corp)

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 to apply for consideration for longbenefits under Bowmxx'x xxxg-term disability benefitsplan, 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Bowmar Instrument Corp)

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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 to apply for consideration for longbenefits under Bowmxx'x xxxg-term disability benefitsplan, 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.COBRA

Appears in 1 contract

Samples: Executive Employment Agreement (Bowmar Instrument Corp)

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