Common use of Termination on Account of Disability Clause in Contracts

Termination on Account of Disability. If, as a result of incapacity due to physical or mental illness or injury, as reasonably determined by the Executive’s physician, the Executive is absent from the Executive’s full-time duties hereunder for ninety (90) days, then thirty (30) days after receiving written notice (which notice may occur before or after the end of such 90-day period, but which will not be effective earlier than the last day of such 90-day period), the Company may terminate the Executive’s employment hereunder; provided that the Executive is unable to resume the Executive’s full-time duties at the conclusion of such notice period. The Company will pay the Executive any of the Executive’s accrued Base Salary and any earned, but unpaid, Annual Bonus (at the time otherwise payable under this Agreement) through the date of termination and reimbursement of expenses. The Executive will forfeit any portion of the Stock Option not vested as of the date of termination. For a period of 18 months following the date of termination, the Company will make available to the Executive and the Executive’s eligible family members, at the Executive’s sole expense, health insurance continuation coverage pursuant to Section 4980B of the Code, Sections 601-608 of the Employee Retirement Income Security Act of 1974, as amended, and under any other applicable law, to the extent required by such laws (“COBRA Coverage”).

Termination on Account of Disability. If, as a result of incapacity due to physical or mental illness or injury, as reasonably determined by the Executive’s physician, the Executive is absent from the Executive’s full-time duties hereunder for ninety (90) days, then thirty (30) days after receiving written notice (which notice may occur before or after the end of such 90-day period, but which will not be effective earlier than the last day of such 90-day period), the Company may terminate the Executive’s employment hereunder; provided that the Executive is unable to resume the Executive’s full-time duties at the conclusion of such notice period. The Company will pay the Executive any of the Executive’s accrued Base Salary base salary and any earned, but unpaid, Annual Bonus (at the time otherwise payable under this Agreement) through the date of termination and reimbursement of expenses. The Executive will forfeit any portion of Restricted Stock (and the Stock Option related Retained Distributions) not vested as of the date of termination. For a period of 18 months following the date of termination, the Company will make available to the Executive and the Executive’s eligible family members, at the Executive’s sole expense, health insurance continuation coverage pursuant to Section 4980B of the Code, Sections 601-608 of the Employee Retirement Income Security Act of 1974, as amended, and under any other applicable law, to the extent required by such laws (“COBRA Coverage”).