TERMINATION AND DISABILITY Clause Samples
The 'Termination and Disability' clause defines the rights and obligations of the parties if an individual becomes disabled or if the agreement is terminated due to disability. Typically, this clause outlines what constitutes a disability, the process for determining disability status, and the resulting effects on employment or contractual obligations, such as severance pay or benefits continuation. Its core function is to provide clarity and predictability in situations where a party cannot fulfill their duties due to disability, ensuring both parties understand their rights and responsibilities in such circumstances.
TERMINATION AND DISABILITY. (A) Employer reserves the right, at its option, to terminate this Agreement on written notice to Employee in the event Employee (i) is convicted of a felony or crime involving moral turpitude, (ii) misappropriates funds of Employer, or (iii) materially breaches any of the provisions hereof or fails to materially comply with directives of Employer’s board of directors, where said breach or failure has not been cured within ninety (90) days from the date of written notice of such breach or failure.
(B) This Agreement shall terminate upon the occurrence of (i) completion of the term of this Agreement, when a notice of such termination is delivered, in writing, by either party to the other, pursuant to Section 3, above; (ii) Employee’s death; (iii) the conditions specified in Section 8(A) above; or (iv) inability of Employee, because of physical or mental disability, to perform efficiently all of the duties of his employment hereunder for an aggregate of six (6) months during any twelve (12) month period.
(C) During the period of any such disability as referred to in Section 8(B)(iv), and until employment hereunder is terminated pursuant to its provisions, Employee shall be entitled to all compensation and other benefits to which he would otherwise be entitled hereunder had such disability not occurred, less the aggregate amount of any payments under either disability insurance policies maintained by Employer or programs of federal or state governments. Employee agrees to apply for all payments to which he is entitled under said policies or programs. Employee shall give Employer notice of any disability hereunder and the receipt of all payments received from said policies or programs.
(D) Upon termination of Employee’s employment hereunder and the satisfaction of all obligations due Employee hereunder, Employer shall have no further obligation to Employee.
(E) In the event that, within two years following a change in control, Employee’s employment under this Agreement is terminated by either Employer or Employee for any reason, either voluntary or involuntary, other than for the reasons set forth in Section 8(A), above, Employee shall be entitled to receive, at his election, either (i) a lump-sum payment equal to two and one-half times the annual compensation which he was paid during the twelve-month period immediately prior to termination due to the change in control or (ii) an amount equal to three times such annual compensation and bonus paid in 36 equal co...
TERMINATION AND DISABILITY. If this Agreement is terminated by either party as a result of the Executive's Disability, as determined under Section 5.2, the Employer will pay the Executive his Salary and Benefits through the remainder of the calendar month during which such termination is effective and for the lesser of (i) six consecutive months thereafter, or (ii) the period until Disability insurance benefits commence under the Disability insurance coverage, if any, furnished by the Employer to the Executive. The Executive shall be entitled to the vested portions of his Incentive Compensation and Nonincentive Compensation and to a pro rata portion of his Incentive Compensation and Nonincentive Compensation for the year during which such Disability occurs, but shall not be entitled to any other Incentive Compensation or Nonincentive Compensation. Executive shall be entitled to continue to participate in Employer's group health insurance (if such participation is permitted by the insurance company providing such insurance coverage) after Disability occurs, provided Executive reimburses Employer for the costs of such coverage, Executive shall also be entitled to acquire from Employer any life insurance policy in effect on Executive's life at the date of Disability, provided Executive reimburses Employer the cash surrender value, if any, accumulated in such life insurance policy and assumes the obligation to make payments to maintain such insurance policy in effect.
TERMINATION AND DISABILITY. (a) In the event the Employee becomes Disabled, the Employee shall receive benefits that at the least are at the levels and on the terms provided in the Disability Plan.
(a) In the event the Company wishes to terminate the Employee (which for purposes hereof shall include a layoff for an indefinite term other than as the result of a Disability), the Company shall communicate such termination by a Notice of Termination and, if the termination is for Cause, the Notice of Termination shall indicate the termination provisions in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee. Termination by the Company shall not be effective without a Notice of Termination.
(b) The termination of the Employee by the Company hereunder shall be effective on the date on which a Notice of Termination is given (hereinafter the "Date of Termination").
TERMINATION AND DISABILITY. The Board shall be entitled to and may terminate the Superintendent’s employment at any time during the term of this Contract for acts of moral turpitude, dishonesty, fraud, insubordination, incompetence, or if the superintendent materially breaches the terms and conditions of this Contract. In the event the Superintendent is unable to perform all or substantially all of his duties due to illness or accident for a period of six (6) consecutive months or more, the Board may at its discretion terminate this Agreement upon written notice to the Superintendent. Provided, however, the Superintendent shall have the right to be placed on sick leave or apply for and receive long-term disability benefits consistent with other Cass City Public Schools Administrative staff. The immediately preceding standards for termination of this Contract during its term shall not apply to non-renewal of this Contract at the expiration of its terms. Any non-renewal of this Contract shall be governed by the terms of the Revised School Code and shall be discretionary with the Board of Education, subject to the terms of the Revised School Code. Prior to any action by the Board of Education to discharge the Superintendent from his employment during the term of this Contract (as opposed to non-renewal) he shall be entitled to written notice of the charges based upon which the Board of Education intends to take action and shall be afforded an opportunity for a hearing before the Board of Education. At such hearing, the Superintendent shall be entitled to be represented by counsel, at his own expense, and present witnesses on his behalf.