Common use of Termination by Reason of Total Disability Clause in Contracts

Termination by Reason of Total Disability. The Company may terminate Executive’s employment in the event of Executive’s “Total Disability.” For purposes of this Agreement, “Total Disability” shall mean Executive’s (1) becoming eligible to receive benefits under any long-term disability insurance program of the Company or (2) failure to perform the duties and responsibilities contemplated under this Agreement for a period of more than 180 days during any consecutive 12-month period due to physical or mental incapacity or impairment. In the event that Executive’s employment is terminated by the Company by reason of Total Disability, Executive shall not be entitled to receive any compensation or benefits under this Agreement except for the Standard Termination Payments; provided, however, that the Executive may separately be entitled to disability payments pursuant to a disability plan sponsored or maintained by the Company or any of its affiliates providing benefits to Executive.

Appears in 19 contracts

Samples: Employment Agreement (Light & Wonder, Inc.), Employment Agreement (Light & Wonder, Inc.), Employment Agreement (SciPlay Corp)

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Termination by Reason of Total Disability. The Company may terminate Executive’s employment in the event of Executive’s “Total Disability.” For purposes of this Agreement, “Total Disability” shall mean Executive’s (1) becoming eligible to receive benefits under any long-term disability insurance program of the Company or (2) failure to perform the duties and responsibilities contemplated under this Agreement for a period of more than 180 days during any consecutive 12-month period due to physical or mental incapacity or impairment. In the event that Executive’s employment is terminated by the Company by reason of Total Disability, Executive shall not be entitled only to receive any compensation or benefits under this Agreement except for the Standard Termination Payments; providedPayments and any amounts due under any Company disability policy, howeverand, that the Executive may separately be entitled to disability payments pursuant to a disability plan sponsored or maintained as currently provided by the Company or any of its affiliates providing benefits to ExecutiveCompany’s equity incentive plan, all equity awards held by Executive shall vest in full.

Appears in 3 contracts

Samples: Employment Agreement (Scientific Games Corp), Employment Agreement (SciPlay Corp), Employment Agreement (Scientific Games Corp)

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