Common use of Termination of Employment Term Clause in Contracts

Termination of Employment Term. (a) In the event of the death of the Employee during the term of his employment (or any renewal term), the Employee's employment shall terminate and this Agreement shall terminate on the date of such death; provided, however, -------- ------- that the Employee, his estate or legal representative, as the case may be, shall ---- be entitled to receive, and the Company shall pay, any unpaid Salary and other benefits and reimbursable expenses accrued and owing to the Employee with respect to his employment prior to the termination. The sum of such amounts shall hereinafter be referred to as the "Accrued Obligations" which shall be paid to Employee's estate or beneficiary within thirty (30) days of the date of termination. (b) If the Company determines in good faith that the Disability of Employee has occurred (pursuant to the definition of Disability set forth below), it may give to Employee written notice of its intention to terminate Employee's employment. In such event, Employee's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Employee, provided that, within the 30 days after such receipt, Employee shall not have returned to full-time performance of his duties. For the purposes of this Agreement, "Disability" shall mean a physical or mental impairment which substantially limits a major life activity of Employee and which renders Employee unable to perform the essential functions of his position, even with reasonable accommodation which does not impose an undue hardship on the Company and which has lasted at least 120 consecutive days. In the event of termination of this Agreement on account of Employee's disability, within thirty (30) days of termination of this Agreement, the Company shall pay to Employee (i) all Accrued Obligations and (ii) a lump sum amount equal to one year of Employee's salary and his most recent bonus. In addition, the Company shall reimburse Employee for any payments made by him to the Company (or its insurance carrier) for the purpose of continuation of his medical and dental insurance under the provisions of the Consolidated Omnibus Reconciliation Act (COBRA).

Termination of Employment Term. The Employment Term and all obligations of the Employer hereunder, except as hereinafter provided, shall be terminated only by and notwithstanding the following any termination of employment shall not terminate any payment obligations included hereunder: (a) In the event of the The death of the Employee during the term of his employment (or any renewal term), the Employee's employment shall terminate and this Agreement shall terminate on the date of such death; provided, however, -------- ------- that the Employee, his estate or legal representative, as the case may be, shall ---- be entitled to receive, and the Company shall pay, any unpaid Salary and other benefits and reimbursable expenses accrued and owing to the Employee with respect to his employment prior to the termination. The sum of such amounts shall hereinafter be referred to as the "Accrued Obligations" which shall be paid to Employee's estate or beneficiary within thirty (30) days of the date of termination.; (b) If the Company determines in good faith vote of a majority of the disinterested members of the Board of Directors of the Employer, which determination shall be based upon competent medical evidence, that the Disability of Employee has occurred (pursuant to the definition of Disability set forth below), it may give to Employee written notice of its intention to terminate Employee's employment. In such event, Employee's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Employee, provided that, within the 30 days after such receipt, Employee shall not have returned to full-time performance of his duties. For the purposes of this Agreement, "Disability" shall mean a physical or mental impairment which substantially limits a major life activity of Employee and which renders Employee will be unable to perform the essential functions of his position, even with reasonable accommodation which does not impose an undue hardship on the Company and which has lasted at least 120 consecutive days. In the event of termination of this Agreement on account of Employee's duties hereunder by reason of injury, illness, or other physical or mental disability after absences for a period or periods aggregating in excess of ninety (90) working days in any 12-month period during the Employment Term hereunder; (c) the vote of a majority of the disinterested members of the Board of Directors of Employer to so remove Employee any time after Employee shall be absent from employment for whatever cause, excluding allowable vacations or sickness and disability, within thirty for a period of more than 180 working days in any calendar year; (30d) days the vote of termination a majority of the disinterested members of the Board of Directors of Employer determining that Employee has become so intemperate in the use of alcohol or drugs as seriously to interfere with the performance of the Employee's duties under this agreement. (e) A bona fide decision by the Employer to terminate its business and liquidate its assets, not including a sale of substantially all of the assets. (f) A vote of a majority of the disinterested members of Employer's Board of Directors finding that Employee has: (1) breached any of the substantive provisions of this Agreement; or (2) knowingly violated any statute or regulation, or earnings or welfare, or has been grossly negligent or engaged in willful misconduct in the Company shall pay to Employee (i) all Accrued Obligations and (ii) a lump sum amount equal to one year performance of the Employee's salary and his most recent bonus. In addition, the Company shall reimburse Employee for any payments made by him to the Company duties hereunder; (or its insurance carrierg) for the purpose of continuation of his medical and dental insurance under the provisions The expiration of the Consolidated Omnibus Reconciliation Act (COBRA)Employment term as provided in Section 1 of this Agreement.

Termination of Employment Term. (a) In the event of the death of the Employee during the term of his employment (or any renewal term), the Employee's employment shall terminate and this Agreement shall terminate on the date of such death; provided, however, -------- ------- that the Employee, his estate or legal representative, as the -------- ------- ---- case may be, shall ---- be entitled to receive, and the Company shall pay, any unpaid Salary and other benefits and reimbursable expenses accrued and owing to the Employee with respect to his employment prior to the termination. The sum of such amounts shall hereinafter be referred to as the "Accrued Obligations" which shall be paid to Employee's estate or beneficiary within thirty (30) days of the date of termination. (b) If the Company determines in good faith that the Disability of Employee has occurred (pursuant to the definition of Disability set forth below), it may give to Employee written notice of its intention to terminate Employee's employment. In such event, Employee's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Employee, provided that, within the 30 days after such receipt, Employee shall not have returned to full-time performance of his duties. For the purposes of this Agreement, "Disability" shall mean a physical or mental impairment which substantially limits a major life activity of Employee and which renders Employee unable to perform the essential functions of his position, even with reasonable accommodation which does not impose an undue hardship on the Company and which has lasted at least 120 consecutive days. In the event of termination of this Agreement on account of Employee's disability, within thirty (30) days of termination of this Agreement, the Company shall pay to Employee (i) all Accrued Obligations and (ii) a lump sum amount equal to one year of Employee's salary and his most recent bonus. In addition, the Company shall reimburse Employee for any payments made by him to the Company (or its insurance carrier) for the purpose of continuation of his medical and dental insurance under the provisions of the Consolidated Omnibus Reconciliation Act (COBRA).

Termination of Employment Term. (a) In the event of the death death, or the permanent mental or physical disability (as determined in good faith by the Company on the basis of the factors set forth in Section 5(b)(iii) hereto), of the Employee during the term of his employment (or any renewal term)employment, the Employee's employment under Sections 1 and 2 hereof shall terminate and this Agreement shall terminate on the date of such deathdeath or termination resulting from such disability; provided, however, -------- ------- that the Employee, his estate or legal representative, as the case may be, shall ---- be entitled to receive, and the Company shall pay, any unpaid Base Salary and Bonus and other benefits and reimbursable expenses accrued and owing to the Employee with respect to his employment prior to the termination. The sum of such amounts shall hereinafter be referred to as the "Accrued Obligations" which shall be paid to Employee's estate his death or beneficiary within thirty (30) days of the date of terminationtermination resulting from disability. (b) If The Company shall have the right to terminate the Employee's employment under Sections 1 and 2 hereof and to terminate this Agreement, in the event: (i) the Employee fails to substantially perform or repeatedly neglects his duties assigned in accordance with this Agreement in any continuing manner after notice from the Company determines of such failure or neglect; (ii) the Employee willfully fails or refuses to substantially follow or comply with the directions of the Board of Directors of the Company or LPHL or the policies or work rules of the Company; (iii) the Employee shall be unable (as determined in good faith that by the Disability Company) to substantially perform his duties under this Agreement for a period of forty-five (45) consecutive days, or ninety (90) days in total in any six-month period, whether because of illness or mental or physical disability; (iv) the Employee through his intentional action or inaction has subjected the Company or LPHL or any of their respective subsidiaries to any criminal or civil liability under any applicable law; (v) the Employee is convicted for any misdemeanor involving moral turpitude or any felony; (vi) the Employee has occurred misappropriated any asset or property of the Company or LPHL or any of their respective subsidiaries, including (pursuant to without limitation) any theft or embezzlement or any diversion of any corporate opportunity; or (vii) the definition Employee has breached any of Disability set forth below)his covenants and agreements contained in this Agreement, it may give to Employee written notice of its intention to terminate Employee's employment. In such eventincluding (without limitation) those contained in Section 7 hereof, Employee's employment with provided, however, that the Company shall be entitled to terminate effective on this Agreement under this Section 5(b) only if the 30th day after Employee shall have failed to cure any of the above events within 30 days of the Employee's receipt of the Company's written notice stating its intent to terminate this Agreement and setting forth its reasons therefor. The Employee acknowledges and agrees that any of the foregoing reasons constitute adequate and sufficient cause for termination, and if the Company elects such notice by Employeetermination, provided that, within the 30 days after such receipt, Employee shall not have returned be entitled to full-time performance receive only such Base Salary, Bonus, benefits and reimbursable expenses accrued and owing to the Employee at the date of his duties. For such termination (which, however, shall be subject to offset by the purposes Company with respect to all amounts then owing to the Company or LPHL or any of their respective subsidiaries by the Employex, xxxxxding amounts respecting misappropriated assets and properties). (c) Any termination under this Section or termination of Employee's duties under Sections 1 and 2 of this Agreement, "Disability" whether by the Employee (pursuant to Section 6 hereof) or by the Company, shall mean be communicated by a physical or mental impairment notice of termination to the other party hereto, which substantially limits a major life activity shall set forth the facts and circumstances respecting such termination; provided, however, that no notice of Employee and which renders Employee unable to perform the essential functions of his position, even with reasonable accommodation which does not impose an undue hardship on the Company and which has lasted at least 120 consecutive days. In termination need be given in the event of the death of the Employee. (d) The Employee acknowledges and agrees that any termination under this Section is not intended, and shall not be deemed or construed, in any way to affect any of this Agreement on account of the Employee's disability, within thirty (30) days of termination of other covenants and obligations contained in this Agreement, the Company including (without limitation) those contained in Section 7 hereof, which other covenants and agreements shall pay to Employee (i) all Accrued Obligations continue in full force and (ii) a lump sum amount equal to one year of Employee's salary and his most recent bonus. In addition, the Company shall reimburse Employee for any payments made by him to the Company (or its insurance carrier) for the purpose of continuation of his medical and dental insurance under the provisions of the Consolidated Omnibus Reconciliation Act (COBRA)effect.

Termination of Employment Term. (a) In the event of the death death, or the permanent mental or physical disability (as determined in good faith by the Company on the basis of the factors set forth in Section 5(b)(iii) hereto), of the Employee during the term of his employment (or any renewal term)employment, the Employee's employment under Sections 1 and 2 hereof shall terminate and this Agreement shall terminate on the date of such deathdeath or termination resulting from such disability; provided, however, -------- ------- that the Employee, his estate or legal representative, as the case may be, shall ---- be entitled to receive, and the Company shall pay, any unpaid Base Salary and Bonus and other benefits and reimbursable expenses accrued and owing to the Employee with respect to his employment prior to the termination. The sum of such amounts shall hereinafter be referred to as the "Accrued Obligations" which shall be paid to Employee's estate his death or beneficiary within thirty (30) days of the date of terminationtermination resulting from disability. (b) If The Company shall have the right to terminate the Employee's employment under Sections 1 and 2 hereof and to terminate this Agreement, in the event: (i) the Employee fails to substantially perform or repeatedly neglects his duties assigned in accordance with this Agreement in any continuing manner after notice from the Company determines of such failure or neglect; (ii) the Employee willfully fails or refuses to substantially follow or comply with the directions of the Board of Directors of the Company or SSTR or the policies or work rules of the Company; (iii) the Employee shall be unable (as determined in good faith that by the Disability Company) to substantially perform his duties under this Agreement for a period of forty-five (45) consecutive days, or ninety (90) days in total in any six-month period, whether because of illness or mental or physical disability; (iv) the Employee through his intentional action or inaction has subjected the Company or SSTR or any of their respective subsidiaries to any criminal or civil liability under any applicable law; (v) the Employee is convicted for any misdemeanor involving moral turpitude or any felony; (vi) the Employee has occurred misappropriated any asset or property of the Company or SSTR or any of their respective subsidiaries, including (pursuant to without limitation) any theft or embezzlement or any diversion of any corporate opportunity; or (vii) the definition Employee has breached any of Disability set forth below)his covenants and agreements contained in this Agreement, it may give to Employee written notice of its intention to terminate Employee's employment. In such eventincluding (without limitation) those contained in Section 7 hereof, Employee's employment with provided, however, that the Company shall be entitled to terminate effective on this Agreement under this Section 5(b) only if the 30th day after Employee shall have failed to cure any of the above events within 30 days of the Employee's receipt of the Company's written notice stating its intent to terminate this Agreement and setting forth its reasons therefor. The Employee acknowledges and agrees that any of the foregoing reasons constitute adequate and sufficient cause for termination, and if the Company elects such notice termination, the Employee shall be entitled to receive only such Base Salary, Bonus, benefits and reimbursable expenses accrued and owing to the Employee at the date of such termination (which, however, shall be subject to offset by the Company with respect to all amounts then owing to the Company or SSTR or any of their respective subsidiaries by the Employee, provided that, within the 30 days after such receipt, Employee shall not have returned to full-time performance including amounts respecting misappropriated assets and properties). (c) Any termination under this Section or termination of his duties. For the purposes Employee's duties under Sections 1 and 2 of this Agreement, "Disability" whether by the Employee (pursuant to Section 6 hereof) or by the Company, shall mean be communicated by a physical or mental impairment notice of termination to the other party hereto, which substantially limits a major life activity shall set forth the facts and circumstances respecting such termination; provided, however, that no notice of Employee and which renders Employee unable to perform the essential functions of his position, even with reasonable accommodation which does not impose an undue hardship on the Company and which has lasted at least 120 consecutive days. In termination need be given in the event of the death of the Employee. (d) The Employee acknowledges and agrees that any termination under this Section is not intended, and shall not be deemed or construed, in any way to affect any of this Agreement on account of the Employee's disability, within thirty (30) days of termination of other covenants and obligations contained in this Agreement, the Company including (without limitation) those contained in Section 7 hereof, which other covenants and agreements shall pay to Employee (i) all Accrued Obligations continue in full force and (ii) a lump sum amount equal to one year of Employee's salary and his most recent bonus. In addition, the Company shall reimburse Employee for any payments made by him to the Company (or its insurance carrier) for the purpose of continuation of his medical and dental insurance under the provisions of the Consolidated Omnibus Reconciliation Act (COBRA)effect.