Upon Permanent Disability Sample Clauses
Upon Permanent Disability. If Executive’s employment is terminated by reason of Executive’s Permanent Disability (as determined pursuant to Section 3(C) of this Agreement) during the Employment Period, this Agreement shall terminate without further obligation to Company. Company shall pay to Executive, on the Date of Termination, all Accrued Obligations. Business expenses reimbursable under Company policy will be paid within thirty (30) days after the final submittal of outstanding business expenses, provided Executive submit any outstanding business expenses within thirty (30) days after the Date of Termination. Vesting of any stock options under any applicable Stock Option Plan shall be governed by the terms of the Stock Option Plan and applicable Stock Option grant.
Upon Permanent Disability. If, prior to the expiration of the Employment Term, the Company terminates Executive’s employment hereunder upon Executive’s Permanent Disability, Executive shall be entitled to (i) receive all items of Base Salary, Transaction Bonus, unreimbursed expenses and other entitlements to the date of termination and (ii) the immediate and full vesting of all outstanding options and restricted stock awards granted to him under the Plan, but such options shall be exercisable by Executive or Executive’s personal representative within one (1) year of the date of termination of employment due to Executive’s Permanent Disability.
Upon Permanent Disability. If, prior to the expiration of the Employment Term, the Company terminates Employee's employment hereunder upon Employee's Permanent Disability, Employee shall be entitled to (i) the Accrued Salary and (ii) salary continuation for the lesser of eighteen (18) months or remaining Employment Term, subject to a minimum of 12 months, at Employee's Base Salary as in effect as of the termination date. In addition, a pro-rata portion (based on the number of days which have elapsed in the Employment Term) of all of the Initial Grant and any Performance Options previously granted shall immediately become fully vested. Employee shall not be entitled to any of the Benefits except to the extent provided in the benefit plans and programs of the Company in which Employee was a participant prior to his termination due to Permanent Disability.
Upon Permanent Disability. If, prior to the expiration of the Employment Term, the Company terminates Employee's employment hereunder upon Employee's Permanent Disability, Employee shall be entitled to (A)(i) a lump sum payment equal to his Base Salary in effect on the termination date plus one-half the Severance Bonus, or (ii), at Employee's election, a sum equal to his Base Salary in effect on the termination date plus one-half the Severance Bonus, payable in substantially equal monthly installments over a period of up to two (2) years from the date of such Permanent Disability; and (B) exercise the Special Option to the extent provided in the Option Agreement. Employee shall not be entitled to any of the Benefits except to the extent provided in the benefit plans and programs of the Company in which Employee was a participant prior to his termination due to Permanent Disability.
Upon Permanent Disability. Upon the termination of Executive's employment hereunder as a result of Permanent Disability (pursuant to Section 6(a)(ii)), Executive or his legal representatives shall be entitled to receive an amount equal to the Base Salary accrued through the date of termination and a pro rata portion of Executive's bonus, if any, in respect of the fiscal year of the Company in which Executive's termination occurs which is based on the Executive's performance through the date of termination, as reasonably determined by the Board of Directors of Company at the time bonuses are determined for Company executives generally. Executive's payments hereunder shall be reduced by any payments received by Executive under any worker's compensation or similar law. In addition, Executive or his legal representatives shall be entitled to long-term disability benefits, accrued and unpaid vacation pay, unreimbursed expenses incurred pursuant to Section 5(a), (b) or (c) and any other benefits which may be owing to Executive pursuant to any applicable written employee benefit plan or policy of the Company in effect at the time.
Upon Permanent Disability. If, prior to the expiration of the Employment Term, thc Company terminates Employee’s employment hereunder upon Employee’s Permanent Disability, Employee shall be entitled to (i) receive all items of salary, Bonus, unreimbursed expenses and other entitlements to the date of termination and (ii) the immediate and full vesting of all outstanding options and restricted stock awards, and to the exercise of such options by the Employee or Employee’s personal representative within one (1) year of the date of termination of employment due to Employee’s Permanent Disability.