Common use of Termination on Account of Disability Clause in Contracts

Termination on Account of Disability. If the Company determines in good faith that the Executive has incurred a Disability during the Term, it may give Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 60th day after receipt of such notice by the Executive, provided that, within thirty (30) days after such receipt, the Executive shall not have returned to full-time performance of the Executive’s duties. Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates by reason of Executive’s Disability during the Term of the Agreement, the Company shall deliver payment to Executive of any unpaid Accrued Obligations and provide for the delivery of benefits incurred under any Company plans, arrangements and benefits made available to other senior executive officers that have been accrued prior to Executive’s employment termination date. The Company’s payment of Accrued Obligations shall be delivered to the Executive in a lump sum cash payment within thirty (30) days of the Executive’s termination of employment. No severance payments described in Section 14 of this Agreement shall be paid to Executive by reason of Executive incurring a Disability during the Term.