Common use of Separation Due to Disability Clause in Contracts

Separation Due to Disability. If the Employment ---------------------------- Period is terminated due to Disability, then the Annual Base Salary, prorated annual bonus, medical insurance and disability insurance will be continued until the last day of the six-month period following the termination date due to a Disability; provided, however, that such Annual Base Salary shall be reduced by the amount of any disability income payments made to the Executive during such six-month period from any insurance or other policies provided by the Company; and, provided, further, however, that option vesting as provided in Section ------- 1(c) above shall continue during the six-month period following the ---- termination date due to a Disability, and subject to applicable law, in the event of a separation due to Disability, the Executive shall have a period of three (3) months following the end of such additional six-month vesting period (i.e., a total of nine (9) months following the termination date due to a Disability) in which to exercise options acquired hereunder.

Appears in 2 contracts

Samples: Senior Management Agreement (E2enet Inc), Senior Management Agreement (E2enet Inc)

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Separation Due to Disability. If the Employment Period ---------------------------- Period is terminated due to Disability, then the Annual Base Salary, prorated annual bonus, medical insurance and disability insurance will be continued until the last day of the six-month period following the termination date due to a Disability; provided, however, that such Annual Base Salary shall be reduced by the amount of any disability income payments made to the Executive during such six-month period from any insurance or other policies provided by the Company; and, provided, further, however, that option vesting as provided in Section ------- 1(c) above shall continue during the six-month period following the ---- termination date due to a Disability, and subject to applicable law, in the event of a separation due to Disability, the Executive shall have a period of three (3) months following the end of such additional six-month vesting period (i.e., a total of nine (9) months following the termination date due to a Disability) in which to exercise options acquired hereunder.

Appears in 2 contracts

Samples: Senior Management Agreement (E2enet Inc), Management Agreement (E2enet Inc)

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Separation Due to Disability. If the Employment ---------------------------- Period is terminated due to Disability, then the Annual Base Salary, prorated pro- rated annual bonus, medical insurance and disability insurance will be continued until the last day of the six-month period following the termination date due to a Disability; provided, however, that such Annual Base Salary shall be reduced by the amount of any disability income payments made to the Executive during such six-month period from any insurance or other policies provided by the Company; and, provided, further, however, that option vesting as provided in Section ------- 1(c) above ------------ shall continue during the six-month period following the ---- termination date due to a Disability, and subject to applicable law, in the event of a separation due to Disability, the Executive shall have a period of three (3) months following the end of such additional six-month vesting period (i.e., a total of nine (9) months following the termination date due to a Disability) in which to exercise options acquired hereunder.

Appears in 1 contract

Samples: Senior Management Agreement (E2enet Inc)

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