Termination of Employment by Death or Disability. If Participant’s employment by the Xxxxxxx Companies ceases as a result of the Participant’s death or Disability, then any unvested RSUs subject to this Agreement as of the date Participant’s employment ceases shall immediately vest and such termination date shall be deemed the “Vesting Date” for such RSUs, and shall be settled as provided in Section 4. For such purposes, “Disability” means the Participant is eligible to receive benefits under the Company’s long-term disability benefit plan as in effect on the date of termination, as determined by the third-party insurer of such plan. If the Company does not have a long-term disability benefit plan in effect on the date of termination, then “Disability” has the applicable meaning as set forth in Section 409A of the Internal Revenue Code.
Termination of Employment by Death or Disability. If not previously terminated, the Executive's employment shall terminate upon the Executive's death or permanent disability. In the case of the Executive's death, termination of this Agreement shall be immediate and automatic. In the case of the Executive's permanent disability, termination of the Executive's employment shall be effective upon receipt by the Executive (as determined under Section 12) of the Company's written notice of termination due to the Executive's permanent disability. As used herein, the term "permanent disability" means a physical or mental impairment which renders the Executive unable to perform one or more of the essential functions of his position and which reasonably can be expected to continue either for 180 days, or until death.
Termination of Employment by Death or Disability. In the event of the death or Disability of the Optionee, the Options (unless previously terminated or exercised) may be exercised (but only to the extent exercisable by the Optionee as of the date of his death or Disability) within the one (1) year period following the Optionee’s death or Disability, but in no event later than ten (10) years from the Grant Date, by the person or persons designated in the Optionee’s will for that purpose or in the absence of any such designation, by the legal representative of the Optionee’s estate, or by the Optionee or the Optionee’s legal representative, as the case may be. For purposes of this Agreement, the term “Disability” shall mean disability as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”).
Termination of Employment by Death or Disability. In the event of termination prior to the completion of the Original Employment Period by the Company as a result of the Executive's death or disability, the Executive shall be entitled to all compensation and accrued benefits earned by him, including bonuses, prior to the date of termination as provided for in this Agreement, pro rata up to and including that date, together with an amount equal to the lesser of six (6) months salary or the balance of salary remaining in the Original Employment Period, as full and complete severance compensation. Thereafter, the Company's obligations to the Executive shall terminate. Furthermore, to the extent permitted by applicable laws and the Plan, all stock options granted to the Executive in connection with this Agreement shall become immediately and fully exercisable.
Termination of Employment by Death or Disability. In the event of Mr. Scheps' death or disability during the term of this Agreement, txxx Xxxxxxent shall be terminated. For purposes of this Agreement, disability shall mean that due to injury or illness Mr. Scheps becomes unable to perform generally his executive duties xxx xxxx xnability is expected to continue for a period of 6 months or longer. In the event the Compensation Committee determines in good faith on reasonable grounds that such disability has occurred it may terminate this Agreement as of such date. The corporation shall continue its present or comparable disability insurance contracts during the term of this Agreement.
