Termination for Permanent Disability Sample Clauses
Termination for Permanent Disability. If Executive’s employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of termination at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time such payments are due, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, (iii) an amount equal to Executive’s Bonus for the year in which the date of termination occurs prorated for the period during such year Executive was employed prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, and (iv) for the period beginning on the date of termination and ending on the date which is twelve (12) full months following the date of termination (or, if earlier, the date on which Executive accepts employment with another employer that provides comparable benefits in terms of cost and scope of coverage), the Company shall pay for and provide Executive and his or her dependents with healthcare and life insurance benefits which are substantially the same as the benefits provided to Executive immediately prior to the date of termination, including, if necessary, paying the costs associated with continuation coverage pursuant to COBRA. In addition, if Executive’s employment is terminated by the Company for Permanent Disability, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of termination as to the number of shares that would vest over the twelve (12) months following Executive’s date of termination under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by Permanent Disability, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s disability shall apply.
Termination for Permanent Disability. (a) Without limiting the Company’s right to terminate Employee pursuant to Section 5.2, 5.3 or 5.4 hereof, the Company may terminate the Employee’s employment hereunder at any time as a result of Employee’s Permanent Disability upon written notice to Employee. For purposes of this Agreement, a “Permanent Disability” shall have the same meaning as ascribed to such term (or a term of similar import) in the long-term disability insurance policy maintained by the Company for the Employee’s benefit, or if no such policy exists, shall mean an illness, incapacity or a mental or physical condition that renders the Employee unable or incompetent to carry out the job responsibilities that the Employee held or the tasks that he was assigned at the time the disability commenced for at least 120 consecutive days or for shorter periods totaling 180 days in any twelve-month period, as determined by the Board and supported by the opinion of a physician. The Employee shall fully cooperate with the physician retained to furnish such opinion, including submitting to such examinations and tests as may be requested by the physician.
(b) In the event of a termination of Employee’s employment hereunder pursuant to Section 5.1(a), Employee will be entitled to receive all accrued and unpaid (as of the Termination Date) Salary, Benefits and Bonus, including payment prescribed under any disability plan or arrangement provided by the Company in which he is a participant or to which he is a party as an employee of the Company. Except as specifically set forth in this Section 5.1(b), the Company shall have no liability or obligation to Employee for compensation or benefits hereunder by reason of such termination.
Termination for Permanent Disability. If Executive’s employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive:
(a) his then current Base Salary under Section 5.1 hereof, payable at such times as his Base Salary would have been paid if his employment had not been terminated for a period of six (6) months, minus any amounts payable under any short-term disability insurance policy provided by the Company.
(b) a pro rata portion of the bonus applicable to the calendar year in which such termination occurs, payable when and as such bonus is determined under Section 5.2;
(c) continuation of the insurance provided by the Company pursuant to Section 5.4 for 12 months;
(d) acceleration of the vesting of one hundred percent (100%) of the unvested portion of all of Executive’s stock options or other stock-based awards, together with the right to exercise such stock options or awards for a period equal to the remaining term for exercising such options or awards under the applicable agreement and/or plan;
(e) reimbursement for all expenses incurred by Executive pursuant to Section 3 prior to his termination.
Termination for Permanent Disability. The Company may terminate Mr. Xxxxxxx'x xmployment if he shall become permanently disabled. Mr. Xxxxxxx xhall be considered to have become permanently disabled if during any consecutive twelve-month period, because of ill health, or physical or mental disability, he shall have been continuously unable to perform his duties under this Agreement, in whole or in substantial part, for one hundred eighty consecutive days. The phrase "substantial part" means the inability of Mr. Xxxxxxx xo perform and devote at least eight hours per work day to the performance of his duties and responsibilities.
Termination for Permanent Disability. If this Agreement and the Executive’s employment hereunder are terminated pursuant to subsection 5.1(b) (Permanent Disability), then:
(a) the Corporation shall pay the Executive a lump-sum payment equivalent to the Basic Entitlements for the applicable elimination period for long-term disability benefits stipulated in the Corporation’s long-term disability insurance plan, as amended from time to time (the “Elimination Period”), less any short-term disability benefit payments provided to the Executive by the Corporation in respect of the Elimination Period pursuant to subsection I(b) of Schedule B (Executive Plans) hereto;
(b) the Corporation shall make RRSP matching contributions in accordance with Section 4.2, up to and including the end of the Elimination Period, at which time such contributions shall cease with no further compensation or damages in lieu of the same, unless expressly required otherwise by applicable employment standards legislation (in which case contributions will be made only to the minimum statutory extent so required);
(c) the Executive shall be entitled to participate in the Executive Plans, up to and including the end of the Elimination Period, at which time the Executive Plans shall cease with no further compensation or damages in lieu of the same, unless expressly required otherwise by applicable employment standards legislation in which case participation will continue only to the minimum statutory extent so required);
(d) the Executive shall not be entitled to any STIP Award, pro-rated or otherwise, that has not yet been earned pursuant to subsection 3.2 for any previous fiscal year, for the fiscal year in which the Date of Termination occurs or for any time period after the Date of Termination, or for any compensation or damages in lieu of the same, unless expressly required otherwise by applicable employment standards legislation (in which case payment will be made only to the minimum statutory extent so required);
(e) the post-employment treatment of the Executive’s LTIP Awards (including without limitation share options and RSUs) will be determined in accordance with the terms of the 2021 Incentive Award Plan and/or any other applicable long-term incentive plan(s), the relevant award agreement(s), and the 2021 Executive Severance Policy adopted by the Compensation Committee. It is understood that the Executive shall not be entitled to any damages or compensation in lieu of any equity award not made after the Elimination Per...
Termination for Permanent Disability. The Company may terminate Xx. Xxxxxxx'x employment if he shall become Permanently Disabled (as defined below) in which event —
8.2.1. The Company shall pay him his salary then in effect through the date of termination to the extent not already paid; and
8.2.2. Subject to the terms and conditions set forth in Exhibit B, the Company shall pay him a pro-rated amount of the Annual Incentive Compensation (as set forth in Section 4 of Exhibit B) that he would have earned had he remained an employee of the Company through the end of the calendar year in which his employment terminated and on the assumption that he satisfactorily completed all of his personal goals for such year, such pro-ration to be based on the number of days during such year that he was an employee of the Company. In addition, notwithstanding any of the provisions of Exhibit B to the contrary, any of such Annual Incentive Compensation that would otherwise be payable in shares of common stock of the Company shall be paid in cash.
8.2.3. Xx. Xxxxxxx shall be considered to have become Permanently Disabled if during any consecutive twelve-month period, because of ill health, or physical or mental disability, he shall have been continuously unable to perform his duties under this Agreement, in whole or in substantial part, for one hundred eighty consecutive days. The phrase "substantial part" means the inability of Xx. Xxxxxxx to perform and devote at least eight hours per work day to the performance of his duties and responsibilities.
Termination for Permanent Disability. (a) Company may terminate Executive’s employment by written notice at any time for Permanent Disability (as defined in subsection (c) below). Upon such termination, Company will pay Executive (i) the Base Salary due Executive through the date of termination, plus other amounts to which Executive is entitled under any bonus or compensation plan or practice of Company at the time of termination, and (ii) provided that Executive executes and does not revoke a release as provided in Section 8, the Severance Benefits.
(b) The payments and Severance Benefits due the Executive under subsection (a) above are in lieu of any other severance benefits or any other compensation. The Severance Benefits due pursuant to Section 7.2(b)(i) and 7.2(b)(ii) will be payable as a lump sum payment or in equal installments over a twelve (12) month period, as determined by the Board in its discretion.
(c) “Permanent Disability” will be deemed to have occurred if Executive was physically or mentally incapacitated or disabled or otherwise unable fully to discharge his duties hereunder for (i) a period in excess of ninety (90) consecutive days, or (ii) a period in excess of one hundred twenty (120) days in the aggregate in any consecutive one hundred eighty (180) day period. This definition will be interpreted and applied consistent with applicable law. The existence of Executive’s Permanent Disability will be determined by Company on the advice of a physician chosen by Company and Executive (or in the event of mental disability, Executive’s Death Benefits Recipients) and Company reserves the right to have the Executive examined by such physician at Company’s expense.
Termination for Permanent Disability. If Executive’s employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive:
(a) severance compensation equal to what would have been his Base Salary under Section 5.1 hereof, payable at such times as his Base Salary would have been paid if his employment had not been terminated (or, at the election of Executive, in a lump sum without discount), for the longer of 6 months or the remainder of what would have been the Term (but no longer than 6 months), less any amounts payable under any disability insurance policy provided by the Company or purchased by Executive, the cost of which is reimbursed by the Company, which are payable in respect of the period after such termination;
(b) a pro rata portion of the bonus applicable to the calendar year in which such termination occurs, payable when and as such bonus is determined under Section 5.3, but no less than a pro rata portion of Executive’s bonus for the preceding calendar year;
(c) other benefits, payable within ninety (90) days after termination for Permanent Disability, accrued by him hereunder up to and including the date of such termination;
(d) continuation of the insurance provided by the Company pursuant to Section 5.4 for the longer of 6 months or the remainder of the Term (but not longer than 6 months), or if not available a lump sum payment of an amount equal to the fair value of such insurance; and
(e) reimbursement for all expenses incurred by Executive pursuant to Section 3 prior to his termination.
Termination for Permanent Disability. If Executive's employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive (i) Executive's fully earned but unpaid base salary, through the date of termination at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time such payments are due, (ii) Executive's annual base salary as in effect immediately prior to the date of termination, payable over the twelve (12) month period commencing on the date of termination in equal monthly installments, (iii) an amount equal to Executive's Bonus for the year in which the date of termination occurs prorated for the period during such year Executive was employed prior to the date of termination, payable over the twelve (12) month period commencing on the date of termination in equal monthly installments, and (iv) for the period beginning on the date of termination and ending on the date which is twelve (12) full months following the date of termination (or, if earlier, the date on which the applicable continuation period under COBRA expires), (A) reimburse Executive for the costs associated with continuation coverage pursuant to COBRA for Executive and his or her eligible dependents who were covered under the Company's health plans as of the date of Executive's termination (provided that Executive shall be solely responsible for all matters relating to his or her continuation of coverage pursuant to COBRA, including, without limitation, his or her election of such coverage and his or her timely payment of premiums), and (B) pay for and provide Executive and such eligible dependents with life insurance benefits coverage to the extent such Executive and/or such dependents were receiving such benefits prior to the date of Executive's termination.
Termination for Permanent Disability. If the Executive's employment is terminated by the Company for Permanent Disability, the Executive shall be entitled to receive (i) severance compensation equal to what would have been his Base Salary under Section 3(a) for the shorter of six months or the remainder of what would have been the Term, payable at such times as his Base Salary would have been paid if his employment had not been terminated, less any disability insurance benefits pursuant to any disability insurance provided by the Company or purchased by Executive, the cost of which is reimbursed by the Company, which are payable in