Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 10 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent CorporationAvocent, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s 's employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s 's rights under such plans (including having the vesting of any awards granted to the Employee under any AHC Cybex or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 8 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option option, restricted stock, performance share, or other equity plans deemed and treated as fully earned and accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through for a period of twelve (12) months from the expiration date of this Agreementsuch notice of termination, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 7 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC ARC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 3 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the EmployeeOfficer, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) 12 consecutive months, the Employer Corporation shall have the right to terminate the Employee’s Officer's employment hereunder by delivery of written notice notification to the Employee at any time after such six month period Officer and payment to the Employee Officer of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any whether or not vested without regard to such illness or incapacity (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent the Corporation in which the Employee Officer is a participant to the full extent of the Employee’s Officer's rights under such plans (including having the accelerated release and full vesting of shares reserved for Officer under Corporation's 1993 Employees Stock Incentive Plan, and any awards granted to the Employee under any AHC or Avocent stock option plans fully acceleratedimplementation thereof), accrued vacation pay and any appropriate business expenses incurred by the Employee Officer in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee Officer shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation. Notwithstanding the foregoing, any Officer who incurs a Disability within the contemplation of the Executive Retirement Plan shall accrue such additional post-disability, post-termination benefits as may be determined in accordance with such Plan.
Appears in 3 contracts
Samples: Employment Agreement (Healthcare Realty Trust Inc), Employment Agreement (Healthcare Realty Trust Inc), Employment Agreement (Healthcare Realty Trust Inc)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed is unable to perform the essential functions of his duties under this Agreement on account job, with or without accommodation, because of illness a mental or physical illness, disease or mental incapacitycondition (such illness, disease and incapacity referred to as, a “Disability”) and the Employee has not performed the powers, duties, authorities, and such illness or incapacity continues for responsibilities typically associated with his position in public companies of a period of more than six (6) consecutive monthssimilar size and nature, the Employer shall have the right to terminate the Employee’s employment for Disability hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee shall immediately be paid on the last date of employment (i) all accrued salaryAccrued Obligations, bonus compensation all to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested termination except that any deferred compensation, if any (other than pension compensation plan or profit sharing plan benefits which will arrangement shall be paid at the time(s) and on the terms and conditions specified in any such deferred compensation plan or arrangement, (ii) upon receipt of proper documentation in accordance with the applicable plan)Avocent’s standard reimbursement policies, any benefits under any plans reimbursement of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all hereunder on or prior to the date of terminationtermination of employment, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement(iii) all severance compensation provided in Section 4.3, but the Employee shall not be paid any no other compensation or reimbursement of any kind. Reimbursements will be made as soon as administratively practicable following the approval of the reimbursement in accordance with Company policies, including without limitation, severance compensation.but in no event will taxable reimbursements be made later than the last date permitted by Section 409A such that the reimbursements are not subject to any additional taxation pursuant to Section 409A.
Appears in 2 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the EmployeeOfficer, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) 12 consecutive months, the Employer Corporation shall have the right to terminate the Employee’s Officer's employment hereunder by delivery of written notice notification to the Employee at any time after such six month period Officer and payment to the Employee Officer of all accrued salary, bonus compensation compensation, if any, to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any whether or not vested without regard to such illness or incapacity (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent Corporation in which the Employee Officer is a participant to the full extent of the Employee’s Officer's rights under such plans (including having the accelerated release and full vesting of shares reserved for Officer under the Incentive Plans, and any awards granted to the Employee under any AHC implementation thereof or Avocent stock option plans fully acceleratedincentive award thereunder), accrued vacation pay and any appropriate business expenses incurred by the Employee Officer in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee Officer shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation. Notwithstanding the foregoing, any Officer who incurs a disability within the contemplation of the Executive Retirement Plan shall accrue such additional post-disability, post-termination benefits as may be determined in accordance with such plan.
Appears in 2 contracts
Samples: Employment Agreement (Healthcare Realty Trust Inc), Employment Agreement (Healthcare Realty Trust Inc)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent CorporationAvocent, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s 's employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s 's rights under such plans (including having the vesting of any awards granted to the Employee under any AHC Apex or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 2 contracts
Samples: Employment and Noncompetition Agreement (Avocent Corp), Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option option, restricted stock, performance share, or other equity plans deemed and treated as fully earned and accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through for a period of eighteen (18) months from the expiration date of this Agreementsuch notice of termination, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee after the Merger as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years (or such lesser period following the Merger) immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his her duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option option, restricted stock, performance share, or other equity plans deemed and treated as fully earned and accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his her duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through for a period of twelve (12) months from the expiration date of this Agreementsuch notice of termination, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option option, restricted stock, performance share, or other equity plans deemed and treated as fully earned and accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through for a period of twenty-four (24) months from the expiration date of this Agreementsuch notice of termination, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee after the Merger as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years (or such lesser period following the Merger) immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC ATC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent Corporation, has failed is unable to perform the essential functions of his duties under this Agreement on account job, with or without accommodation, because of illness a mental or physical illness, disease or mental incapacitycondition (such illness, disease and incapacity referred to as, a “Disability”) and the Employee has not performed the powers, duties, authorities, and such illness or incapacity continues for responsibilities typically associated with his position in public companies of a period of more than six (6) consecutive monthssimilar size and nature, the Employer shall have the right to terminate the Employee’s employment for Disability hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee shall immediately be paid on the last date of employment (i) all accrued salaryAccrued Obligations, bonus compensation all to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested termination except that any deferred compensation, if any (other than pension compensation plan or profit sharing plan benefits which will arrangement shall be paid at the time(s) and on the terms and conditions specified in any such deferred compensation plan or arrangement, (ii) upon receipt of proper documentation in accordance with the applicable plan)Avocent’s standard reimbursement policies, any benefits under any plans reimbursement of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all hereunder on or prior to the date of terminationtermination of employment, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement(iii) all severance compensation provided in Section 4.3, but the Employee shall not be paid any no other compensation or reimbursement of any kind. Reimbursements will be made as soon as administratively practicable following approval of the reimbursement, including without limitation, severance compensationbut in no event later than provided that reimbursements must be made no later than the last day of the Employee’s taxable year in which the termination occurs.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)
Termination by Reason of Disability. If, during the term of this Agreement, the Employee, in the reasonable judgment of the Board of Directors of Avocent CorporationAvocent, has failed to perform his duties under this Agreement on account of illness or physical or mental incapacity, and such illness or incapacity continues for a period of more than six (6) consecutive months, the Employer shall have the right to terminate the Employee’s employment hereunder by delivery of written notice to the Employee at any time after such six month period and payment to the Employee of all accrued salary, bonus compensation to the extent earned, additional bonus compensation in an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination, vested deferred compensation, if any (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of Employer or Avocent in which the Employee is a participant to the full extent of the Employee’s rights under such plans (including having the vesting of any awards granted to the Employee under any AHC Cybex or Avocent stock option plans fully accelerated), accrued vacation pay and any appropriate business expenses incurred by the Employee in connection with his duties hereunder, all to the date of termination, with the exception of medical and dental benefits which shall continue through the expiration of this Agreement, but the Employee shall not be paid any other compensation or reimbursement of any kind, including without limitation, severance compensation.
Appears in 1 contract
Samples: Employment and Noncompetition Agreement (Avocent Corp)