Incapacitation or Disability. In the event that Executive is incapacitated or disabled by reason of illness or physical or mental disability from performing Executive's duties hereunder (which shall be deemed to have occurred (i) when Executive has receive total disability benefits under the Company's long-term group disability policy for a continuous period of six (6) months or, if no policy is then in effect, (ii) when such incapacity or disability shall have existed for either (A) one continuous period of six months or (B) a total of seven months out of any twelve consecutive months), the Company shall have the right to terminate Executive's employment hereunder by giving Executive 30 days prior written notice to that effect. In the event of any such termination, the Company shall pay to Executive any unpaid Base Salary through the effective date of termination and any business expenses remaining unpaid on the effective date of the termination for which Executive is entitled to be reimbursed under Section 5 of this Agreement.
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Samples: Employment Agreement (Usi Holdings Corp), Employment Agreement (Usi Holdings Corp), Employment Agreement (Usi Holdings Corp)
Incapacitation or Disability. In the event that Executive is incapacitated or disabled by reason of illness or physical or mental disability from performing Executive's ’s duties hereunder (which shall be deemed to have occurred (i) when Executive has receive total disability benefits under the Company's ’s long-term group disability policy for a continuous period of six (6) months or, if no policy is then in effect, (ii) when such incapacity or disability shall have existed for either (A) one continuous period of six months or (B) a total of seven months out of any twelve consecutive months), the Company shall have the right to terminate Executive's ’s employment hereunder by giving Executive 30 days prior written notice to that effect. In the event of any such termination, the Company shall pay to Executive any unpaid Base Salary through the effective date of termination and any business expenses remaining unpaid on the effective date of the termination for which Executive is entitled to be reimbursed under Section 5 of this Agreement.
Appears in 3 contracts
Samples: Employment Agreement, Employment Agreement (Usi Holdings Corp), Employment Agreement (Usi Holdings Corp)
Incapacitation or Disability. In the event that Executive is incapacitated or disabled by reason of illness or physical or mental disability from performing Executive's duties hereunder (which shall be deemed to have occurred (i) when Executive has receive total disability benefits under the Company's long-term group disability policy for a continuous period of six (6) months or, if no policy is then in effect, (ii) when such incapacity or disability shall have existed for either (A) one continuous period of six months or (B) a total of seven months out of any twelve consecutive months), the Company shall have the right to terminate Executive's employment hereunder by giving Executive 30 days prior written notice to that effect. In the event of any such termination, the Company shall pay to the Executive any unpaid Base Salary through the effective date same payments as would be provided under section 8.1 in the event of termination and any business expenses remaining unpaid on the effective date of the termination for which Executive is entitled to be reimbursed under Section 5 of this Agreementwithout cause.
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Incapacitation or Disability. In the event that Executive is incapacitated or disabled by reason of illness or physical or mental disability from performing Executive's duties hereunder (which shall be deemed to have occurred (i) when Executive has receive received total disability benefits under the Company's long-term group disability policy for a continuous period of six (6) months or, if no policy is then in effect, (ii) when such incapacity or disability shall have existed for either (A) one continuous period of six months or (B) a total of seven months out of any twelve consecutive months), the Company shall have the right to terminate Executive's employment hereunder by giving Executive 30 days prior written notice to that effect. In the event of any such termination, the Company shall pay to Executive any unpaid Base Salary through the effective date of termination and any business expenses remaining unpaid on the effective date of the termination for which Executive is entitled to be reimbursed under Section 5 of this Agreement.
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