Termination by Reason of Incapacity. If, during the Term, Executive shall become Permanently Disabled (defined below), Luminex may terminate Executive’s employment with Luminex effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”. Upon termination of employment under this Section, Executive shall be paid (i) on the next normal pay cycle following the effective date of termination the amount of the Accrued Obligations and (ii) the Severance Compensation provided in Section 4.2. As used herein, Executive shall be deemed “Permanently Disabled” if Executive is (i) collecting long-term disability payments under a long-term disability plan established for the benefit of Luminex’s employees or executives generally or a reasonably similar plan so long as such plan utilizes a definition of “disability” provided for in Section 1.409A-3(i)(4) of the Treasury Regulations (“Section 409A Definition of Disability”) or (ii) if, and only if, no such long-term disability plan is in effect at the time of determination or such plan fails to utilize a Section 409A Definition of Disability, an independent physician selected by Luminex and reasonably acceptable to Executive makes a written determination that Executive is unable to engage in any substantial gainful activity, despite his best efforts, by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuing period of not less than twelve (12) months, all in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).
Termination by Reason of Incapacity. In the event that Executive suffers a disability which prevents him from substantially performing his duties under this Agreement for a period of at least sixty (60) calendar days within a 365-calendar day period (whether consecutive or non-consecutive) (a "Disability"), Destia shall have the right to dismiss Executive upon ten (10) calendar days written notice. In the event of any dispute between Destia and Executive as to whether Executive has suffered a Disability, the determination of whether Executive has suffered a Disability shall be made by an independent physician selected by Destia (subject to Executive's reasonable consent), and the decision of such physician shall be binding upon Destia and Executive.
Termination by Reason of Incapacity. If, during the Term, Executive shall become Permanently Disabled (defined below), Luminex may terminate Executive's employment with Luminex effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”. Upon termination of employment under this Section, Executive shall be paid (i) within three (3) business days following the effective date of termination the amount of the Accrued Obligations; (ii) the Accrued Bonus, if any, at the same time at which other executives of Luminex receive their annual bonus in respect of the calendar year in which termination occurred; and (iii) all severance compensation provided in Section 4.2. As used herein, Executive shall be deemed “Permanently Disabled” if Executive is (i) collecting long-term disability payments under a long-term disability plan established for the benefit of Luminex's employees or executives generally or a reasonably similar plan so long as such plan utilizes a definition of “disability” provided for in Section 1.409A-3(i)(4) of the Treasury Regulations (“Section 409A Definition of Disability”) or (ii) if, and only if, no such long-term disability plan is in effect at the time of determination or such plan fails to utilize a Section 409A Definition of Disability, an independent physician selected by Luminex and reasonably acceptable to Executive makes a written determination that Executive is unable to engage in any substantial gainful activity, despite his best efforts, by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuing period of not less than 12 months. The determination of any selected independent physician is final and binding on the parties and shall be made after taking into account such competent medical evidence as shall be presented to the independent physician by Executive and/or Luminex or by any physician or group of physicians or other competent medical experts employed by Executive and/or Luminex to advise such independent physician, and in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).”
2. Section 3.3 is amended to provide as follows:
Termination by Reason of Incapacity. If, during the term of this Agreement, EMPLOYEE, in the reasonable judgment of the Chief Executive Officer of TOKOX, xxs 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 6 weeks, TOKOX xxxll have the right to terminate EMPLOYEE's employment hereunder, such termination to be effective retroactive to the first day of such illness or incapacity, by written notification to EMPLOYEE and payment to EMPLOYEE of all accrued salary, bonus compensation calculated by pro-rating all achievement and other measuring numbers set forth in the bonus plan used for other similarly situated officers for that year as though the year ended on the date of termination, vested deferred compensation (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 TOKOX xx which EMPLOYEE is a participant to the full extent of EMPLOYEE's rights under such plans, accrued PTO pay and any appropriate business expenses incurred by 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 the Agreement and all severance compensation provided in Section 5.3, but no other compensation or reimbursement of any kind.
Termination by Reason of Incapacity. (a) If, during the Term, Executive shall suffer a Permanent Disability, GNAC may terminate Executive’s employment with GNAC effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”.
(b) Upon Termination by Reason of Incapacity, Executive shall be paid (i) the amount of the Accrued Obligations within ten (10) business days following the effective date of termination; (ii) subject to Section 5, the Accrued Bonus, if any, at the same time at which other executives of GNAC receive their annual bonus in respect of the calendar year in which termination occurred; and (iii) subject to Section 5, an amount equal to the difference of (A) the Severance Compensation less (B) any payment or payments received by Executive during the twelve (12) month period from the time of termination under any long-term disability plan in effect that provides benefits to Executive.
Termination by Reason of Incapacity. In the event that Executive suffers a disability which prevents him from substantially performing his duties under this Agreement for a period of at least sixty (60) calendar days within a 365-calender day period (whether consecutive or non-consecutive) (a "Disability"), Econophone shall have the right to dismiss Executive for Cause upon ten (10) calendar days written notice. In the event of any dispute between Econophone and Executive as to whether Executive has suffered a Disability, the determination of whether Executive has suffered a Disability shall be made by an independent physician selected by Econophone, and the decision of such physician shall be binding upon Econophone and Executive.
Termination by Reason of Incapacity. If, during the Term, Executive shall become Permanently Disabled, NMHC may terminate Executive’s employment with NMHC effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”. Upon termination of
Termination by Reason of Incapacity. If, during the Term, Executive shall become Permanently Disabled, NMHC may terminate Executive’s employment with NMHC effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”. Upon termination of employment under this Section, Executive shall be paid (i) within three (3) business days following the effective date of termination the amount of the Accrued Obligations; and (ii) (subject to Section 2.2.8) an amount equal to the difference of (A) the Severance Compensation less (B) the Prorated Disability Benefit Amount. As used herein, “Prorated Disability Benefit Amount” means an amount equal to the product of (i) any payment or payments payable to Executive during the twelve (12) month period following the time of termination under any long-term disability policy multiplied by (ii) the percentage of the premiums under such policy that were paid by NMHC. Any other accrued benefits provided under employee benefit programs maintained by NMHC, including qualified and nonqualified programs, shall be payable according to their terms.
Termination by Reason of Incapacity. If during the Employment Term, Executive is unable to perform the essential duties of his positions with Chaparral by reason of any physical or mental condition for a continuous period of six (6) months, then Chaparral, in its sole and absolute discretion, may consider such condition to be permanent and may, upon thirty (30) days written notice to Executive, terminate Executive's employment hereunder, but Executive shall continue to be eligible to receive any benefits to which he may be entitled under the terms of any long-term disability plan for Chaparral employees and/or executives. In the event of such incapacity, Chapxxxxx'x xermination of Executive will be considered a "Termination by Reason of Incapacity," and Executive shall immediately be paid all accrued Base Salary, all accrued vacation time, any unpaid Bonus and any reasonable and necessary business expenses incurred by Executive in connection with his duties hereunder, all to the date of termination. In addition, Chapxxxxx xxxll pay Executive the difference between his Base Salary and Bonus, at the rate existing at the time of such termination, and the amount he receives from any long term disability insurance plan, for a period of one (1) year following such termination. Executive shall receive such payments on Chaparral's designated payday (currently on the 1st and 15th of each calendar month). Notwithstanding the foregoing, Chapxxxxx'x xbligation to Executive for severance compensation under this section shall immediately cease if Executive is in violation of the provisions of Sections 8, 14 and/or 15 hereof.
Termination by Reason of Incapacity. If, during the Term, Executive shall become Permanently Disabled (defined below), Tm may terminate Executive’s employment with Tm effective on the earliest date permitted under applicable law, if any, and such termination shall be deemed “Termination by Reason of Incapacity”. Upon termination of employment under this Section, Executive shall be paid (i) within three (3) business days following the effective date of termination the amount of the Accrued Obligations and (ii) all Severance Compensation provided in Section 4.2. As used herein, Executive shall be deemed “Permanently Disabled” if Executive is (i) collecting long-term disability payments under a long-term disability plan established for the benefit of Tm’s employees or executives generally or a reasonably similar plan or (ii) if, and only if, no such long-term disability plan is in effect at the time of determination, a physician selected by Tm and reasonably acceptable to Executive makes a written determination that Executive is unable to perform his obligations under this Agreement despite his best efforts by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuing period of not less than 12 months.
