Common use of Termination by Death or Disability Clause in Contracts

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, except that the Company shall pay Executive’s estate any salary earned but unpaid prior to termination, all accrued but unused vacation and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock shall cease on the date of termination.

Appears in 4 contracts

Samples: Employment Agreement (Allos Therapeutics Inc), Employment Agreement (Allos Therapeutics Inc), Employment Agreement (Allos Therapeutics Inc)

AutoNDA by SimpleDocs

Termination by Death or Disability. Subject to applicable state or federal law, in the event that Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three six months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three monthsbecome permanently disabled, except that the the Company shall pay Executive’s estate Executive any salary earned but unpaid prior to termination, any benefits accrued prior to termination, all accrued but unused vacation personal time, and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock granted to Executive shall cease on the date of such termination.

Appears in 2 contracts

Samples: Employment Agreement (Tapestry Pharmaceuticals, Inc), Employment Agreement (Tapestry Pharmaceuticals, Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive that Employee shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and ExecutiveEmployee’s inability to carry out his job responsibilities for a continuous period of more than three six months, ExecutiveEmployee’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive Employee has failed to carry out his job responsibilities for three monthsbecome permanently disabled, except that the Company shall pay Executive’s estate Employee any salary earned but unpaid prior to termination, any benefits accrued prior to termination, all accrued but unused vacation vacation, and any business expenses that were incurred but not reimbursed as of the date of terminationtermination (the “Accrued Compensation”). Vesting of any unvested stock all options or restricted stock shall cease on the date of such termination.

Appears in 2 contracts

Samples: Employment Agreement (StarTek, Inc.), Employment Agreement (Startek Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, except that the Company shall pay Executive’s estate any salary earned but unpaid prior to termination, all accrued but unused vacation and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock shall cease on the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Allos Therapeutics Inc), Employment Agreement (Allos Therapeutics Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s 's inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s 's employment and the Company’s 's obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, months except that the Company shall pay the Executive’s 's estate any salary earned but unpaid prior to termination, all accrued but unused vacation personal time and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock shall cease on the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Allos Therapeutics), Employment Agreement (Allos Therapeutics Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s 's inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s 's employment and the Company’s 's obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, months except that the Company shall pay the Executive’s 's estate any salary earned but unpaid prior to termination, all accrued but unused vacation personal time and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock Options shall cease on the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Allos Therapeutics), Employment Agreement (Allos Therapeutics)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s 's inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s 's employment and the Company’s 's obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, except that the Company shall pay Executive’s 's estate any salary earned but unpaid prior to termination, all accrued but unused vacation and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock shall cease on the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Allos Therapeutics Inc), Employment Agreement (Allos Therapeutics Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event that Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three six months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three monthsbecome permanently disabled, except that the Company shall pay Executive’s estate Executive any salary earned but unpaid prior to termination, any benefits accrued prior to termination, all accrued but unused vacation personal time, and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted stock granted to Executive shall cease on the date of such termination.

Appears in 1 contract

Samples: Employment Agreement (Tapestry Pharmaceuticals, Inc)

AutoNDA by SimpleDocs

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently becomes disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, except that the Company shall pay Executive’s estate any salary earned but unpaid prior to termination, all accrued but unused vacation and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted and/or other stock awards shall cease on the date of termination.

Appears in 1 contract

Samples: Employment Agreement (Allos Therapeutics Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive that Employee shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and ExecutiveEmployee’s inability to carry out his job responsibilities for a continuous period of more than three six months, ExecutiveEmployee’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive Employee has failed to carry out his job responsibilities for three monthsbecome permanently disabled, except that the Company shall pay Executive’s estate Employee any salary earned but unpaid prior to termination, any benefits accrued prior to termination, all accrued but unused vacation vacation, and any business expenses that were incurred but not reimbursed as of the date of terminationtermination (the “Accrued Compensation”). Vesting of any unvested stock options or restricted stock all equity awards shall cease on the date of such termination.

Appears in 1 contract

Samples: Employment Agreement (StarTek, Inc.)

Termination by Death or Disability. Subject to applicable state or federal law, in the event Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three months, except that the Company shall pay Executive’s estate any salary earned but unpaid prior to termination, all accrued but unused vacation and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock options or restricted and/or other stock awards shall cease on the date of termination.

Appears in 1 contract

Samples: Employment Agreement (Allos Therapeutics Inc)

Termination by Death or Disability. Subject to applicable state or federal law, in the event that Executive shall die during the period of his employment hereunder or become permanently disabled, as evidenced by notice to the Company and Executive’s inability to carry out his job responsibilities for a continuous period of more than three six months, Executive’s employment and the Company’s obligation to make payments hereunder shall terminate on the date of his death, or the date upon which, in the sole determination of the Board of Directors, Executive has failed to carry out his job responsibilities for three monthsbecome permanently disabled, except that the Company shall pay Executive’s estate Executive any salary earned but unpaid prior to termination, any benefits accrued prior to termination, all accrued but unused vacation vacation, and any business expenses that were incurred but not reimbursed as of the date of termination. Vesting of any unvested stock all options or restricted stock shall cease on the date of such termination.

Appears in 1 contract

Samples: Executive Employment Agreement (Danger Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!