Termination Upon a Disability Clause Samples

Termination Upon a Disability. If Executive becomes subject to a Disability (as defined below), then the Company shall have the right, to the extent permitted by law, to terminate the employment of Executive for such Disability upon 30 days prior written notice to Executive. In the event of a termination due to a Disability, Executive shall be entitled to receive the following in addition to the Accrued Obligations: (i) continuation of Executive’s Base Salary (which shall be payable in accordance with the Company’s standard pay policies) until Executive is eligible for short-term disability payments under the Company’s group disability policies; provided however, that in no event shall such period of continued Base Salary exceed 90 days following Executive’s termination of employment, and (ii) a bonus payment equal to Executive’s target bonus for the year in which Executive becomes disabled but only to the extent the Company ultimately achieves any corporate goals or milestones for such payment and provided that such payment shall be pro rated based on the date of Executive’s termination of employment relative to the calendar year in which his employment is terminated and such bonus shall only be paid at such time set forth in the applicable bonus plan and when bonuses are paid to other executives of the Company. In addition, the Initial Grant and the Top-Off Grant shall vest and be exercisable pursuant to the terms of their respective Stock Option Agreements.

Termination Upon a Disability. If Executive becomes subject to a Disability (as defined below), then the Company shall have the right, to the extent permitted by law, to terminate the employment of Executive for such Disability upon 30 days prior written notice to Executive. In the event of a termination due to a Disability, Executive shall be entitled to receive the following in addition to the Accrued Obligations: (i) continuation of Executive’s Base Salary (which shall be payable in accordance with the Company’s standard pay policies) until Executive is eligible for short-term disability payments under the Company’s group disability policies; provided however, that in no event shall such period of continued Base Salary exceed 90 days following Executive’s termination of employment, and (ii) a bonus payment equal to Executive’s target bonus for the year in which Executive becomes disabled but only to the extent the Company ultimately achieves any corporate goals or milestones for such payment and provided that such payment shall be pro rated based on the date of Executive’s termination of employment relative to the calendar year in which her employment is terminated and such bonus shall only be paid at such time set forth in the applicable bonus plan and when bonuses are paid to other executives of the Company. In addition all outstanding stock options shall vest in full immediately following Executive’s termination of employment. For the purposes of this Section, “Disability” shall mean a physical or mental impairment which, the Board in good faith determines, after consideration and implementation of reasonable accommodations, precludes the Executive from performing her essential job functions for a period longer than three consecutive months or a total of one hundred twenty (120) days in any twelve month period (or such longer period as may be required to comply with the Family Medical Leave Act or other applicable law.

Termination Upon a Disability. Upon the termination of the Executive's employment by the Company upon the occurrence of a Disability pursuant to Section 4(e) hereof, the Company shall pay to the Executive (i) that portion of the Executive's Base Salary earned through the Last Day of Employment, (ii) all amounts that have fully vested as of the Last Day of Employment under all retirement plans of the Company in accordance with the provisions of such plans, and (iii) all other amounts that are properly payable to the Executive by the Company that have not been paid to him on or before the Last Day of Employment. In addition, all awards granted to the Executive under the STIP and the LTIP that have become fully vested, exercisable or earned on or before the Last Day of Employment shall be distributed or paid to the Executive within, or shall be exercisable by the Executive for, as the case may be, one (1) year following the Last Day of Employment, unless expressly provided otherwise in the STIP or the LTIP or in the applicable Award Agreement(s). All awards granted to the Executive under the STIP and the LTIP that have not become fully vested, exercisable or earned on or before the Last Day of Employment shall continue to vest, or to become exercisable or paid, as the case may be, in accordance with the appropriate schedule regarding vesting, exercisability or payment established at the time of the grant of the award (but in no event greater than the "target" award amounts under the STIP and the LTIP for the applicable years) and shall be distributed or paid to the Executive within, or shall be exercisable by the Executive for, as the case may be, thirty (30) days following the date that such award becomes fully vested, exercisable or earned, as the case may be, unless expressly provided otherwise in the STIP or the LTIP or in the applicable Award Agreement(s).

Termination Upon a Disability. Upon the termination of the Executive's employment by the Company pursuant to Section 4(e) hereof upon the occurrence of a Disability, the Company shall pay to the Executive (i) that portion of the Executive's Base Salary earned through the Date of Termination, and (ii) all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Company in accordance with the provisions of such plans. Notwithstanding the foregoing, all options (whether vested or unvested) granted to the Executive to purchase shares of common stock of the Company as of the Date of Termination shall be treated in accordance with the Stock Option Plan and the stock option agreement(s) between the Company and the Executive.

Termination Upon a Disability. Upon the termination of the Executive’s employment by the Company upon the occurrence of a Disability pursuant to Section 4(e) hereof, the Company shall pay to the Executive a severance payment, payable in a lump sum, equal to his Base Salary (calculated as a monthly amount) for three (3) months.