Termination on Account of Death or Permanent Disability Sample Clauses

Termination on Account of Death or Permanent Disability. Executive’s employment shall terminate immediately following Executive’s death. If Executive suffers a Permanent Disability (as defined below), the Company shall have the right to terminate Executive’s employment with the Company. For purposes of this Agreement, the term “Permanent Disability” shall mean Executive’s inability to perform the essential functions of his job, with or without reasonable accommodation due to a disability or other medical condition for ninety (90) consecutive days or one hundred eighty (180) days during any twelve (12) month period as shall have been certified by a licensed and qualified physician. The Company shall pay Executive all (i)Accrued Obligations and (ii), the pro-rated amount of any earned but unpaid Annual Bonus or Options Award that Executive would have earned if he had remained employed by the Company through the end of the applicable term.
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Termination on Account of Death or Permanent Disability. (i) The Executive’s employment hereunder shall terminate automatically upon the Executive’s death or Permanent Disability. In the event of a termination as a result of death or Permanent Disability, the Executive shall not be entitled to any additional payments from the Company, other than payments with respect to the Accrued Rights.
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Termination on Account of Death or Permanent Disability. To compensate in the case of Employee's death or Permanent Disability, the Board of Directors shall provide Employee or his Designated Beneficiary with (i) a lump sum payment equal to one (1) time Employee's current Base Salary or (ii) during the Term and before such death or Permanent Disability, Company provides Employee with insurance coverage as to death and Permanent Disability that equals or exceeds one (1) year of Employee's current Base Salary and adjusts annually for any increase in such Base Salary. For purposes of this Agreement, the term "Permanent Disability" shall mean Employee's inability to perform his duties under this Agreement for ninety (90) consecutive days or one hundred and eighty (180) days during any twelve (12) month period due to illness, accident or other incapacity (as determined in good faith by a physician mutually acceptable to the Company and Employee) or if a physician so selected advises the Company that it is likely that Employee will be unable to perform such duties for ninety (90) consecutive days or one hundred and eighty (180) days during the succeeding twelve (12) month period. If the Board of Directors chooses to provide insurance coverage, Employee, his spouse and his children shall also be entitled to continue to be covered, if eligible, by all medical, health, accident and other insurance at the same coverage level maintained for Employee's benefit immediately prior to the date of Employee's termination (subject to continuing payment of any premiums, deductibles and co-payments by the person who was the responsible party at the time of death or Permanent Disability) for a period of eighteen (18) months from the date of Employee's death or Permanent Disability. In the event Employee's spouse and/or surviving children are ineligible under the terms of such insurance to continue to be so covered, the Company shall provide substantially equivalent coverage through other sources or will provide Employee's spouse and/or surviving children, as applicable, with the lump sum payment equal to the agreed upon present value of the continuation of such health insurance coverage under this Section 3.2. In the event of Permanent Disability, Employee shall continue to receive credit for years of service under all retirement plans of the Company where permitted by law.
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Termination on Account of Death or Permanent Disability. To compensate in the case of Employee's death or Permanent Disability, the Board of Directors shall provide Employee or his Designated Beneficiary with (i) a lump sum payment equal to one (1) time Employee's current Base Salary or (ii) during the Term and before such death or Permanent Disability, Company provides Employee with insurance coverage as to death and Permanent Disability that equals or exceeds one (1) year of Employee's current Base Salary and adjusts annually for any increase in such Base Salary. For purposes of this Agreement, the term "Permanent Disability" shall mean Employee's inability to perform his duties under this Agreement for ninety (90) consecutive days or one hundred and eighty (180) days during any twelve (12)
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Termination on Account of Death or Permanent Disability. In the event that Executive’s employment terminates on account of death or Permanent Disability, then Executive (or in the case of Executive’s death, his estate, beneficiary or other successor in interest) shall receive the following benefits:
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Termination on Account of Death or Permanent Disability. In the event Executive's employment is terminated on account of death or Permanent Disability, then the Company shall pay Executive, or his heirs, the sum of his Base Salary plus any earned Target Bonus for the current fiscal year in 12 equal monthly installments (minus the appropriate withholding for tax purposes). Executive or his heirs shall also be entitled to elect to continue coverage through the Consolidated Omnibus Budget Reconciliation Act of 1986 ("COBRA") under the Company's health and welfare plans, such COBRA premiums for a period of twelve (12) months after the date of termination.
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Termination on Account of Death or Permanent Disability 
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Related to Termination on Account of Death or Permanent Disability

  • Termination on Account of Death or Disability During the Term, if the Executive’s employment terminates due to the Executive’s death, or is terminated by the Company and the Employer due to the Executive’s Disability as provided in Section 3(b), then the Company shall pay the Executive (or his beneficiary or representative) (i) his Accrued Benefit, (ii) to the extent that any annual incentive compensation payable under Section 2(b) with respect to any completed fiscal year has not been paid as of the Date of Termination, the actual incentive compensation payable with respect to such year, payable on the date such amounts would otherwise be paid, (iii) a portion of the annual incentive compensation payable under Section 2(b), based upon the number of days in the year of termination through the Date of Termination relative to 365, that the Executive would have received based on actual achievement of applicable performance metrics for the applicable performance period, with such amount payable on the date such bonus would otherwise have been paid, and (iv) full vesting of all Company, Employer or any of its or their affiliates’ equity awards that are subject to time-based vesting, effective as of the Date of Termination. Accelerated vesting of any such equity awards that are subject to performance-based vesting shall be subject to the terms and conditions of the plan governing particular equity awards, as in effect at the time such equity awards were granted, or an award agreement governing a particular equity award.

  • Termination on Account of Disability Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates on account of Disability, Executive shall be entitled to receive disability benefits under any disability program maintained by the Company that covers Executive, and Executive shall not receive benefits pursuant to Sections 2 and 3 hereof, except that, subject to the provisions of Section 5 hereof, the Executive shall be entitled to the following benefits provided that Executive executes and does not revoke the Release:

  • Termination Upon Death or Permanent Disability This Agreement shall be automatically terminated on the death of Executive or on the permanent disability of Executive if Executive is no longer able to perform in all material respects the usual and customary duties of Executive’s employment hereunder. For purposes hereof, any condition which in reasonable likelihood is expected to impair Executive’s ability to materially perform Executive’s duties hereunder for a period of three months or more shall be considered to be permanent.

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • Termination Due to Death or Permanent Disability If the Employment Period shall be terminated due to death or Permanent Disability of the Executive, the Executive (or his estate or legal representative) shall be entitled solely to the following: (i) Base Salary through the Date of Termination; and (ii) medical benefits as provided in Section 5.05 below. The Executive’s entitlements under any other benefit plan or program shall be as determined thereunder. In addition, promptly following any such termination, the Executive (or his estate or legal representative) shall be reimbursed for all Reimbursable Expenses incurred by the Executive prior to such termination.

  • Termination on Account of Death Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates on account of death, Executive shall be entitled to receive death benefits under any death benefit program maintained by the Company that covers Executive, and Executive not receive benefits pursuant to Sections 2 and 3 hereof, except that, subject to the provisions of Section 5 hereof, the Executive shall be entitled to the following benefits provided that Executive’s estate executes and does not revoke the Release:

  • Death or Permanent Disability If Grantee shall die or become permanently disabled while employed by the Company or one of its affiliates, this Option shall expire one (1) year after the date of such death or permanent disability. During such period after death, Grantee's legal representative or representatives, or the person or persons entitled to do so under Grantee's last will and testament or under applicable interstate laws, shall have the right to exercise this Option as to only the number of shares to which Grantee was entitled to purchase on the date of his/her death.

  • Termination in the Event of Death or Disability This Agreement shall terminate in the event of death or disability of Executive.

  • Termination Upon Death or Permanent and Total Disability The Employment Period shall be terminated by the death of Executive. The Employment Period may be terminated by the Board if Executive shall be rendered incapable of performing his duties to the Company by reason of any medically determined physical or mental impairment that can be reasonably expected to result in death or that can be reasonably be expected to last for a period of either (i) six (6) or more consecutive months from the first date of Executive’s absence due to the disability or (ii) nine (9) months during any twelve-month period (a “Permanent and Total Disability”). If the Employment Period is terminated by reason of a Permanent and Total Disability of Executive, the Company shall give thirty (30) days’ advance written notice to that effect to Executive.

  • 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.

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