Common use of Termination Due to Total Disability. Clause in Contracts

Termination Due to Total Disability.. If Executive's employment is ----------------------------------- terminated due to Total Disability, then, in addition to all Salary and Bonus due and payable on or before the Termination Date and all other payments and benefits the Executive is entitled to receive under this Agreement, the Executive or his legal guardian, as the case may be, will receive an amount equal to one-twelfth (1/12/th/) of Executive's Salary times the lesser of (a) the number of months remaining prior to the expiration of the Term of this Agreement or (b) twelve (12). This additional compensation payment will be paid in a lump sum amount within ninety (90) days after the Termination Date. It is expressly agreed that if there is a termination of the Executive's employment due to the Total Disability of the Executive under the provisions of Section 5.3, the Executive will not be entitled to receive any additional amounts payable to the Executive under Sections 6.2 or 6.3.

Appears in 1 contract

Samples: Employment Agreement (Imco Recycling Inc)

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Termination Due to Total Disability.. If Executive's ’s employment is ----------------------------------- terminated due to Total Disability, then, in addition to all Salary and Bonus due and payable on or before the Termination Date and all other payments and benefits the Executive is entitled to receive under this Agreement, the Executive or his legal guardian, as the case may be, will receive an amount equal to one-twelfth (1/12/th/1/12th) of Executive's ’s Salary times the lesser of (a) the number of months remaining prior to the expiration of the Term of this Agreement or (b) twelve (12). This additional compensation payment will be paid in a lump sum amount within ninety (90) days after the Termination Date. It is expressly agreed that if there is a termination of the Executive's ’s employment due to the Total Disability of the Executive under the provisions of Section 5.3, the Executive will not be entitled to receive any additional amounts payable to the Executive under Sections 6.2 or 6.3.

Appears in 1 contract

Samples: Employment Agreement (Imco Recycling Inc)

Termination Due to Total Disability.. If Executive's employment is ----------------------------------- terminated due to Total Disability, then, in addition to all Salary and Bonus due and payable on or before the Termination Date and all other payments and benefits the Executive is entitled to receive under this Agreement, the Executive or his legal guardian, as the case may be, will receive an amount equal to one-twelfth (1/12/th/1/12th) of Executive's Salary times the lesser of (a) the number of months remaining prior to the expiration of the Term of this Agreement or (b) twelve (12). This additional compensation payment will be paid in a lump sum amount within ninety (90) days after the Termination Date. It is expressly agreed that if there is a termination of the Executive's employment due to the Total Disability of the Executive under the provisions of Section 5.3, the Executive will not be entitled to receive any additional amounts payable to the Executive under Sections 6.2 or 6.3.

Appears in 1 contract

Samples: Employment Agreement (Imco Recycling Inc)

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Termination Due to Total Disability.. If Executive's employment is ----------------------------------- terminated due to Total Disability, then, in addition to all Salary and Bonus due and payable on or before the Termination Date and all other payments and benefits the Executive is entitled to receive under this Agreement, the Executive or to his legal guardian, as the case may be, will receive an amount equal to one-twelfth (1/12/th/1/12th) of Executive's Salary times the lesser of (a) the number of months remaining prior to the expiration of the Term of this Agreement or (b) twelve (12). This additional compensation payment will be paid in a lump sum amount within ninety (90) days after the Termination Date. It is expressly agreed that if there is a termination of the Executive's employment due to the Total Disability of the Executive under the provisions of Section 5.3, the Executive will not be entitled to receive any additional amounts payable to the Executive under Sections 6.2 or 6.3.

Appears in 1 contract

Samples: Employment Agreement (Imco Recycling Inc)

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