Common use of Illness or Incapacity Clause in Contracts

Illness or Incapacity. If Employee is unable to perform Employee's services by reason of illness or incapacity for a period of more than two (2) consecutive months the compensation thereafter payable to Employee during the next two (2) consecutive months shall be 50% of the compensation provided for herein. During such period of illness or incapacity, Employee shall be entitled to receive incentive compensation if any Notwithstanding the foregoing, if such illness or incapacity does not cease to exist within a four (4) consecutive month period, Employee shall not be entitled to receive any further compensation nor any payments for such illness or incapacity, and Employer may terminate this Agreement without further liability to Employee. Any existing options to purchase Employer's common stock held by Employee at the time termination shall be governed by the terms of the option and not affected by this provision. At the termination of such illness or incapacity, Employee shall be entitled to receive Employee's full compensation payable pursuant to the terms of this Agreement.

Appears in 5 contracts

Samples: Employment Agreement (Ontv Inc), Employment Agreement (Ontv Inc), Employment Agreement (Ontv Inc)

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Illness or Incapacity. If Employee is unable to perform Employee's services by reason of illness or incapacity for a period of more than two (2) consecutive months months, the compensation thereafter payable to Employee during the next two (2) consecutive months shall be 50% of the compensation provided for herein. During such period of illness or incapacity, Employee shall be entitled entitles to receive incentive compensation if any any. Notwithstanding the foregoing, if such illness or incapacity does not cease to exist within a four (4) consecutive month period, Employee shall not be entitled to receive any further compensation nor any payments for such illness or incapacity, and Employer may terminate this Agreement without further liability to Employee. Any existing options to purchase Employer's common stock held by Employee at the time termination shall be governed by the terms of the option and not affected by this provision. At the termination of such illness or incapacity, Employee shall be entitled to receive Employee's full compensation payable pursuant to the terms of this Agreement.

Appears in 4 contracts

Samples: Employment Agreement (Reliant Interactive Media Corp), Employment Agreement (Reliant Interactive Media Corp), Employment Agreement (Reliant Interactive Media Corp)

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