Common use of Termination of Employment Due to Disability Clause in Contracts

Termination of Employment Due to Disability. Either the Company or the Executive may terminate the Executive’s employment due to Disability during the Term of Employment upon written notice to the other Party in accordance with Section 20 below. The Term of Employment shall end as of the Date of Termination specified in the notice, and the Executive shall thereupon be entitled to the following (in addition to the benefits due him under the then current disability programs of the Company, if any): (i) Base Salary earned but not paid prior to the Date of Termination; (ii) any annual and quarterly bonuses under Section 4(b) with respect to any year prior to the year of the Date of Termination which have not yet been paid together with the prorated portion through the Date of Termination of the Executive’s annual and quarterly bonuses earned but unpaid for the year of his Termination; (iii) any amounts earned, accrued or owing to the Executive but not yet paid under Section 4(d)-(f) above, subject to the terms and conditions of the applicable benefit plans and programs; (iv) such other or additional benefits, if any, as are provided under applicable plans, programs and/or arrangements of the Company; and (v) any unexercised or unvested stock options shall remain exercisable or vest upon the Executive’s termination only to the extent provided in the applicable option plan and option agreements.

Appears in 2 contracts

Samples: Executive Employment Agreement (Andrea Electronics Corp), Executive Employment Agreement (Andrea Electronics Corp)

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Termination of Employment Due to Disability. Either the Company or the Executive may terminate the Executive’s 's employment due to Disability during the Term of Employment upon written notice to the other Party in accordance with Section 20 below. The Term of Employment shall end as of the Date of Termination specified in the notice, and the Executive shall thereupon be entitled to the following (in addition to the benefits due him under the then current disability programs of the Company, if any): (i) Base Salary earned but not paid prior to the Date of Termination; (ii) any annual and quarterly bonuses under Section 4(b) with respect to any year prior to the year of the Date of Termination which have not yet been paid together with the prorated portion through the Date of Termination of the Executive’s 's annual and quarterly bonuses earned but unpaid for the year of his Termination; (iii) any amounts earned, accrued or owing to the Executive but not yet paid under Section 4(d)-(f) above, subject to the terms and conditions of the applicable benefit plans and programs; (iv) such other or additional benefits, if any, as are provided under applicable plans, programs and/or arrangements of the Company; and (v) any unexercised or unvested stock options shall remain exercisable or vest upon the Executive’s 's termination only to the extent provided in the applicable option plan and option agreements.

Appears in 2 contracts

Samples: Executive Employment Agreement (Andrea Electronics Corp), Executive Employment Agreement (Andrea Electronics Corp)

Termination of Employment Due to Disability. Either the Company or the Executive may terminate the Executive’s employment due to Disability during the Term of Employment upon written notice to the other Party in accordance with Section 20 below. The Term of Employment shall end as of the Date of Termination specified in the notice, and the Executive shall thereupon be entitled to the following (in addition to the benefits due him under the then current disability programs of the Company, if any): (i) Base Salary earned but not paid prior to the Date of Termination; (ii) any annual and quarterly bonuses under Section 4(b) with respect to any year prior to the year of the Date of Termination which have not yet been paid together with the prorated portion through the Date of Termination of the Executive’s annual and quarterly bonuses earned but unpaid bonus for the year of his Termination; (iii) any amounts earned, accrued or owing to the Executive but not yet paid under Section 4(d)-(f) above, subject to the terms and conditions of the applicable benefit plans and programs; (iv) such other or additional benefits, if any, as are provided under applicable plans, programs and/or arrangements of the Company; and (v) any unexercised or unvested stock options shall remain exercisable or vest upon the Executive’s termination only to the extent provided in the applicable option plan and option agreements.

Appears in 1 contract

Samples: Executive Employment Agreement (Andrea Electronics Corp)

Termination of Employment Due to Disability. Either the Company or the Executive may terminate the Executive’s 's employment due to Disability during the Term of Employment upon written notice to the other Party in accordance with Section 20 below. The Term of Employment Agreement shall end terminate as of the Date of Termination specified in the notice, and the Executive shall thereupon be entitled to the following (in addition to the benefits due him under the then current disability programs of the Company, if any): (i) Base Salary earned but not paid prior to the Date of Termination; (ii) any annual and quarterly bonuses under Section 4(b) with respect to any year prior to the year of the Date of Termination which have not yet been paid together with the prorated portion through the Date of Termination of the Executive’s 's annual and quarterly bonuses earned but unpaid for the year of his Termination; (iii) any amounts earned, accrued or owing to the Executive but not yet paid under Section 4(d)-(f) above, subject to the terms and conditions of the applicable benefit plans and programs; (iv) such other or additional benefits, if any, as are provided under applicable plans, programs and/or arrangements of the Company; and (v) any unexercised or unvested stock options shall remain exercisable or vest upon the Executive’s 's termination only to the extent provided in the applicable option plan and option agreements.

Appears in 1 contract

Samples: Executive Employment Agreement (Andrea Electronics Corp)

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Termination of Employment Due to Disability. Either the Company or the Executive may terminate the Executive’s 's employment due to Disability during the Term of Employment upon written notice to the other Party in accordance with Section 20 below. The Term of Employment shall end as of the Date of Termination specified in the notice, and the Executive shall thereupon be entitled to the following (in addition to the benefits due him under the then current disability programs of the Company, if any): (i) Base Salary earned but not paid prior to the Date of Termination;; Exhibit 10.1 (ii) any annual and quarterly bonuses under Section 4(b) with respect to any year prior to the year of the Date of Termination which have not yet been paid together with the prorated portion through the Date of Termination of the Executive’s 's annual and quarterly bonuses earned but unpaid for the year of his Termination; (iii) any amounts earned, accrued or owing to the Executive but not yet paid under Section 4(d)-(f) above, subject to the terms and conditions of the applicable benefit plans and programs; (iv) such other or additional benefits, if any, as are provided under applicable plans, programs and/or arrangements of the Company; and (v) any unexercised or unvested stock options shall remain exercisable or vest upon the Executive’s 's termination only to the extent provided in the applicable option plan and option agreements.

Appears in 1 contract

Samples: Executive Employment Agreement (Andrea Electronics Corp)

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