Common use of Termination By Reason of Permanent Disability Clause in Contracts

Termination By Reason of Permanent Disability. If at any time during the Term an independent licensed physician selected by the Board determines that the Executive has been or will be unable, as a result of physical or mental illness or incapacity, to perform his duties hereunder for a period of four consecutive months or for an aggregate of more than six months in any twelve month period (a "Permanent Disability"), the Executive's employment hereunder may be terminated by the Board upon thirty days' written notice to the Executive. If the Executive's employment is terminated by reason of Permanent Disability, the Executive shall be entitled to receive only the sum of (x) the unpaid portion of the Base Salary then in effect which has accrued to the date of termination plus (y) an amount equal to six months of the Executive's Base Salary plus (z) an amount equal to a pro rata portion of the Bonus payable pursuant to Section 4(b) hereof assuming that the Financial Results of the Company for the then current Applicable Period equal exactly 100% of the EBITDA Target for such Applicable Period, with such pro rata portion based on the actual number of days during such Applicable Period that Executive was employed by the Company. Such amounts due shall be paid within thirty (30) days after any termination due to a Permanent Disability and shall be in lieu of any other payment to which the Executive may be otherwise entitled.

Appears in 6 contracts

Samples: Employment Agreement (Aurora Foods Inc /De/), Employment Agreement (Aurora Foods Inc /Md/), Employment Agreement (Aurora Foods Inc /De/)

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Termination By Reason of Permanent Disability. If at any time during the Term an independent licensed physician selected by the Board determines that the Executive has been or will be unable, as a result of physical or mental illness or incapacity, to perform his her duties hereunder for a period of four consecutive months or for an aggregate of more than six months in any twelve month period (a "Permanent Disability"), the Executive's employment hereunder may be terminated by the Board upon thirty days' written notice to the Executive. If the Executive's employment is terminated by reason of Permanent Disability, the Executive shall be entitled to receive only the sum of (x) the unpaid portion of the Base Salary then in effect which has accrued to the date of termination plus (y) an amount equal to six months of the Executive's Base Salary plus (z) an amount equal to a pro rata portion of the Bonus payable pursuant to Section 4(b) hereof assuming that the Financial Results of the Company for the then current Applicable Period equal exactly 100% of the EBITDA Target for such Applicable Period, with such pro rata portion based on the actual number of days during such Applicable Period that Executive was employed by the Company. Such amounts due shall be paid within thirty (30) days after any termination due to a Permanent Disability and shall be in lieu of any other payment to which the Executive may be otherwise entitled.

Appears in 2 contracts

Samples: Employment Agreement (Aurora Foods Inc /De/), Employment Agreement (Aurora Foods Inc /Md/)

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Termination By Reason of Permanent Disability. If at any time --------------------------------------------- during the Term an independent licensed physician selected by the Board determines that the Executive Employee has been or will be unable, as a result of physical or mental illness or incapacity, to perform his her duties hereunder for a period of four consecutive months or for an aggregate of more than six months in any twelve month period (a "Permanent DisabilityPERMANENT DISABILITY"), the ExecutiveEmployee's employment hereunder may be terminated by the Board upon thirty 30 days' written notice to the ExecutiveEmployee. If the ExecutiveEmployee's employment is terminated by reason of Permanent Disability, the Executive Employee shall be entitled to receive only the sum of (x) the unpaid portion of the Base Salary then in effect which has accrued to the date of termination termination, plus any other payments generally available to departing employees of the Company (y) such as unused vacation and personal days), plus an amount equal to six three months of Employee's Salary. Such amount shall be paid within 30 days after such termination. Notwithstanding the Executive's Base Salary plus (z) an amount equal foregoing, if any Bonus Compensation is earned by the Employee for the year in which such Permanent Disability occurs, Employee shall be entitled to a pro rata portion of the such Bonus payable pursuant to Section 4(b) hereof assuming that the Financial Results of the Company for the then current Applicable Period equal exactly 100% of the EBITDA Target for such Applicable Period, with such pro rata portion Compensation based on the actual number of days during such Applicable Period that Executive was employed by in the Company. Such amounts due shall be paid within thirty (30) days after any termination due to a Permanent Disability and shall be in lieu of any other payment 's fiscal year to which the Executive may be otherwise entitledsuch Bonus Compensation relates that have elapsed prior to Employees Permanent Disability.

Appears in 1 contract

Samples: Employment Agreement (Britesmile Inc)

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