TERMINATION FOR ILLNESS OR DISABILITY OF EXECUTIVE Sample Clauses

TERMINATION FOR ILLNESS OR DISABILITY OF EXECUTIVE. If Executive is unable to perform his Duties for Employer for a period of more than sixty (60) consecutive days or one hundred twenty (120) for at least calendar days, whether or not consecutive, in any 365 calendar day period due to a “disability” as defined by 42 U.S.C.A. § 12101 et seq., Americans with Disabilities Act of 1990 (the “ADA”), and as except as prohibited by applicable law, Employer may terminate this Agreement upon not less than thirty (30) days written notice to the Executive. Duties are defined set forth in Section 2. Upon termination of Executive’s employment under this Agreement, Employer shall provide Executive with payment of that portion of accrued, but unpaid Basic Salary through termination date, reimbursement for expenses (x) properly incurred before the termination date, (y) supported by vouchers or receipts, and (z) provided to Employer within five (5) days of the date of termination, and payment of any accrued but unused PTO (the “Accrued Rights”). In addition, in exchange for Executive’s execution of a separation agreement and general release of claims against Employer and its affiliates, in a form supplied by Employer, within twenty-one (21) days after the termination and Executive does not subsequently properly revoke the release before it becomes irrevocable in accordance with its terms, Employer shall continue to pay Executive the Basic Salary through the end of the term of this Agreement, and, to the extent not paid prior to the date of termination, continue the payments described in Section 5(b), in each case, as if Executive’s employment had not terminated, plus Employer will provide Executive, for one (1) year following the date of termination, continuation of Executive’s existing medical coverage (collectively, the “Severance”).
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TERMINATION FOR ILLNESS OR DISABILITY OF EXECUTIVE. If Executive is unable to perform his Duties for Employer for a period of more than sixty (60) consecutive days or one hundred twenty (120) for at least calendar days, whether or not consecutive, in any 365 calendar day period due to a “disability” as defined by 42 U.S.C.A. § 12101 et seq., Americans with Disabilities Act of 1990 (the “ADA”), and as except as prohibited by applicable law, Employer may terminate this Agreement upon not less than thirty (30) days written notice to the Executive. Duties are defined set forth in Section 2. Upon termination of this Agreement, Employer shall pay Executive for the remaining months of Basic Salary payable under this Agreement as if it had not terminated, the Additional Salary, Reimbursement for Expenses, and any accrued but unused PTO ( the “Pay-Out”). In exchange for Executive’s execution of a separation agreement, approved by the Executive and mutual general release, in a form supplied by Employer, within three (3) days after the termination and Executive does not subsequently properly revoke the release, Employer shall continue to pay Executive one (1) year of additional Basic Salary, (1) year of Executive’s existing medical coverage, plus vesting all Stock Options pursuant to the Employer’s Stock Incentive Plan (the “Severance”).
TERMINATION FOR ILLNESS OR DISABILITY OF EXECUTIVE. If Executive is unable to perform her Duties for Employer for a period of more than sixty (60) consecutive days or one hundred twenty (120) for at least calendar days, whether or not consecutive, in any 365 calendar day period due to a “disability” as defined by 42 U.S.C.A. § 12101 et seq., Americans with Disabilities Act of 1990 (the “ADA”), and as except as prohibited by applicable law, Employer may terminate this Agreement upon not less than thirty (30) days written notice to the Executive. Duties are defined set forth in Section 2. Upon termination of this Agreement, Employer shall pay Executive for the remaining months of Basic Salary payable under this Agreement as if it had not terminated (“Pay-Out Basic Salary”), Reimbursement for Expenses, and any accrued but unused PTO. In exchange for Executive’s execution of a separation agreement, approved by the Executive and mutual general release, in a form supplied by Employer, within three (3) days after the termination and Executive does not subsequently properly revoke the release, Employer shall continue to pay Executive six (6) months of additional Basic Salary, plus her vested Stock Options pursuant to the Employer’s Stock Option Plan.

Related to TERMINATION FOR ILLNESS OR DISABILITY OF EXECUTIVE

  • Death or Disability of Executive Executive's employment -------------------------------- hereunder shall terminate immediately upon the death or Disability of Executive.

  • 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 shall terminate immediately, in accordance with Section 6.6, and the Company shall, pursuant to the Company’s standard payroll policies, pay to Executive’s legal representatives all Accrued Obligations. (b) Subject to applicable state and federal law, the Company 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. Termination by the Company of Executive’s employment based on “Disability” shall mean termination because Executive is unable due to a physical or mental condition to perform the essential functions of his position with or without reasonable accommodation for 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 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 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 shall pay to Executive the Accrued Obligations.

  • Disability of Executive The Company may terminate this Agreement without liability if Executive shall be permanently prevented from properly performing his essential duties hereunder with reasonable accommodation by reason of illness or other physical or mental incapacity for a period of more than one hundred twenty 120 consecutive days. Upon such termination, Executive shall be entitled to all accrued but unpaid Base Salary and vacation.

  • Death or Disability of Employee In the event that the Employee incurs a Termination of Service due to his or her death or Disability during a Performance Period, the Employee shall immediately vest [INSERT DESCRIPTION OF VESTING CONDITIONS]. In the event that any applicable law limits the Company’s ability to accelerate the vesting of this award of Performance Shares, this paragraph 4(b) shall be limited to the extent required to comply with applicable law.

  • Termination for Disability (a) If EXECUTIVE shall become disabled as defined in the BANK's then current disability plan (or, if no such plan is then in effect, if EXECUTIVE is permanently and totally disabled within the meaning of Section 22(e)(3) of the Code as determined by a physician designated by the Board), the BANK may terminate EXECUTIVE's employment for "Disability." (b) Upon EXECUTIVE's termination of employment for Disability, the BANK will pay EXECUTIVE, as disability pay, a bi-weekly payment equal to three-quarters (3/4) of EXECUTIVE's bi-weekly rate of Base Salary on the effective date of such termination. These disability payments shall commence on the effective date of EXECUTIVE's termination and will end on the earlier of (i) the date EXECUTIVE returns to the full-time employment of the BANK in the same capacity as he was employed prior to his termination for Disability and pursuant to an employment agreement between EXECUTIVE and the BANK; (ii) EXECUTIVE's full-time employment by another employer; (iii) EXECUTIVE attaining the age of sixty-five (65); or (iv) EXECUTIVE's death; or (v) the expiration of the term of this Agreement. The disability pay shall be reduced by the amount, if any, paid to EXECUTIVE under any plan of the BANK providing disability benefits to EXECUTIVE. (c) The BANK will cause to be continued life, medical, dental and disability coverage substantially identical to the coverage maintained by the BANK for EXECUTIVE prior to his termination for Disability. This coverage and payments shall cease upon the earlier of (i) the date EXECUTIVE returns to the full-time employment of the BANK, in the same capacity as he was employed prior to his termination for Disability and pursuant to an employment agreement between EXECUTIVE and the BANK; (ii) EXECUTIVE's full-time employment by another employer; (iii) EXECUTIVE's attaining the age of sixty-five (65); (iv) EXECUTIVE's death; or (v) the expiration of the term of this Agreement. (d) Notwithstanding the foregoing, there will be no reduction in the compensation otherwise payable to EXECUTIVE during any period during which EXECUTIVE is incapable of performing his duties hereunder by reason of temporary disability.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. (b) Executive shall be entitled to receive benefits under all short-term or long-term disability plans maintained by the Bank for its executives. To the extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits, Social Security disability benefits and the amount of Executive’s Base Salary for the longer of one (1) year following the termination of his employment due to Disability or the remaining term of this Agreement, which shall be payable in accordance with the regular payroll practices of the Bank. (c) The Bank shall cause to be continued non-taxable medical and dental coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to the termination of his employment based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) expiration of the remaining term of this Agreement; or (iv) Executive’s death. (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death in accordance with the regular payroll practices of the Bank for a period of one (1) year from the date of Executive’s death, and the Bank shall continue to provide non-taxable medical, and dental insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. Such payments are in addition to any other life insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans.

  • Termination for Death or Disability If the Employee's employment is terminated by death or because of disability pursuant to Section 4.3, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, all sums which would otherwise be payable to the Employee under Section 3 up to the end of the month in which the termination of his employment because of death or disability occurs.

  • Termination for Cause; Resignation Without Good Reason; Death or Disability If you resign without Good Reason, or the Company terminates your employment for Cause, or upon your death or disability, then all payments of compensation by the Company to you hereunder will terminate immediately (except as to amounts already earned), and you will not be entitled to any Severance Benefits.

  • Illness or Disability If, because of Employee’s illness or other disability for a continuous period of more than 45 days, Employee is unable to render the services required by the Company as provided herein, the Company may terminate Employee’s employment hereunder by written notice to Employee at least 30 days in advance of such termination. Upon such termination Employee shall not be entitled to any further payments of any nature, except for payment of (a) any earned but unpaid Annual Base Salary, (b) any unpaid bonuses and (c) unreimbursed business expenses (collectively, “Payable Amounts”). All Payable Amounts shall become due and payable on the date of such termination.

  • Termination of Employment Due to Death or Disability If your employment with the Company terminates due to death or Disability, in each case, prior to the Vesting Date, your Adjusted PSUs will vest and convert into Shares on the Adjustment Date (even though you are not employed by the Company on the Vesting Date). Upon a termination of employment due to death, the Adjusted PSUs shall be delivered in accordance with Section 10.

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