Common use of Termination and Change of Control Clause in Contracts

Termination and Change of Control. (a) If the Executive shall die during the Employment Period, this Agreement shall terminate effective as of the date of Executive's death, except that Executive's surviving spouse or, if none, his estate, shall be entitled to receive the benefits set forth in Section 4(d) below. (b) At the sole discretion of the Board of Directors, Executive may be terminated if the Executive is disabled (as defined below) and shall have been absent from his duties with the Company on a full time basis for one hundred and eighty (180) consecutive days, and, within thirty (30) days after written notice by the Company to do so, the Executive shall not have returned to the performance of his duties hereunder on a full time basis. In the event of such termination, the Company shall make to Executive the payments specified in Section 4(d). As used herein, the term "disabled" shall (i) mean that Executive is unable, as a result of a medically determinable physical or mental impairment, to perform the duties and services of his position, or (ii) have the meaning specified in any disability insurance policy maintained by the Company, whichever is more favorable to the Executive.

Termination and Change of Control. (a) If the Executive shall die during the Employment Period, this Agreement shall terminate effective as of the date of Executive's death, except that Executive's surviving spouse or, if none, his her estate, shall be entitled to receive the benefits set forth in Section 4(d) below. (b) At the sole discretion of the Board of Directors, Executive may be terminated if the Executive is disabled (as defined below) and shall have been absent from his her duties with the Company on a full time basis for one hundred and eighty (180) consecutive days, and, within thirty (30) days after written notice by the Company to do so, the Executive shall not have returned to the performance of his her duties hereunder on a full time basis. In the event of such termination, the Company shall make to Executive the payments specified in Section 4(d). As used herein, the term "disabled" shall (i) mean that Executive is unable, as a result of a medically determinable physical or mental impairment, to perform the duties and services of his her position, or (ii) have the meaning specified in any disability insurance policy maintained by the Company, whichever is more favorable to the Executive.