Common use of Termination by Virtue of Death or Disability of Executive Clause in Contracts

Termination by Virtue of Death or Disability of Executive. (a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder will terminate immediately. Executive’s legal representatives will not receive the Severance Benefits, or any other severance compensation or benefit, except that, pursuant to the Company’s standard payroll policies, the Company will provide to Executive’s legal representatives the Accrued Obligations. (b) Subject to applicable state and federal law, the Company will at all times have the right, upon written notice to Executive, to terminate this Agreement based on Executive’s Disability (as defined below). Termination by the Company of Executive’s employment based on “Disability” will mean termination because Executive is unable due to a physical or mental condition to perform the essential functions of Executive’s position with or without reasonable accommodation for six (6) months in the aggregate during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation of such condition for such period. This definition will be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, and other applicable law. In the event Executive’s employment is terminated based on Executive’s Disability, Executive will not receive the Severance Benefits, or any other severance compensation or benefit, except that, pursuant to the Company’s standard payroll policies, the Company will provide to Executive the Accrued Obligations.

Appears in 6 contracts

Samples: Employment Agreement (Entasis Therapeutics Holdings Inc.), Employment Agreement (Entasis Therapeutics Holdings Inc.), Employment Agreement (Entasis Therapeutics Holdings Inc.)

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Termination by Virtue of Death or Disability of Executive. (a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder will and Executive’s employment shall terminate immediately. Executive’s legal representatives will not receive , and the Severance Benefits, or any other severance compensation or benefit, except thatCompany shall, pursuant to the Company’s standard payroll policiespolicies and applicable law, the Company will provide to Executive’s legal representatives only the Accrued ObligationsObligations (as defined in Section 6.2(d) below) due to Executive. (b) Subject to applicable state and federal law, the Company will shall at all times have the right, upon written notice to Executive, to terminate this Agreement based on Executive’s Disability (as defined below). Termination by the Company of Executive’s employment based on “Disability” will shall mean termination because Executive is unable due to a physical or mental condition to perform the essential functions of Executive’s position with or without reasonable accommodation for six (6) months in the aggregate during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation of such condition for such period. This definition will shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, and other applicable law. In the event Executive’s employment is terminated based on Executive’s Disability, Executive will not receive the CIC Severance BenefitsBenefits (as defined below), the Non-CIC Severance Benefits (as defined below), or any other severance compensation or benefit, except that, pursuant to the Company’s standard payroll policiespolicies and applicable law, the Company will provide to Executive the Accrued ObligationsObligations due to Executive.

Appears in 2 contracts

Samples: Employment Agreement (ArcherDX, Inc.), Employment Agreement (ArcherDX, Inc.)

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Termination by Virtue of Death or Disability of Executive. (a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder will shall terminate immediately. Executive’s legal representatives will not receive , in accordance with Section 6.6, and the Severance Benefits, or any other severance compensation or benefit, except thatCompany shall, pursuant to the Company’s standard payroll policies, the Company will provide pay to Executive’s legal representatives the all Accrued Obligations, and all unvested equity shall immediately vest upon such event. (b) Subject to applicable state and federal law, the Company will shall at all times have the right, upon written notice to Executive, and in accordance with Section 6.6, to terminate this Agreement based on Executive’s Disability (as defined below)Disability. Termination by the Company of Executive’s employment based on “Disability” will shall mean termination because Executive is unable due to a physical or mental condition to perform the essential functions of Executive’s his position with or without reasonable accommodation for six (6) months 180 days in the aggregate during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation of such condition for such period. This definition will shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, and other applicable law. In the event Executive’s employment is terminated based on Executive’s Disability, Executive will not receive the Severance Benefits, Change in Control Severance Benefits, or any other severance compensation or benefit, except that, pursuant to the Company’s standard payroll policies, the Company will provide shall pay to Executive the Accrued Obligations.

Appears in 1 contract

Samples: Executive Employment Agreement (Tempus Labs, Inc.)

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