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.
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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.
Sample 1Sample 2
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 eighteen (18) 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 Options and any 9 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.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1

Related to Upon Permanent Disability

  • Permanent Disability Permanent Disability" shall mean Employee's physical or mental incapacity to perform his or her usual duties with such condition likely to remain continuously and permanently as determined by Employer.

  • 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 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.

  • 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.

  • Death or Total Disability In the event of the death of the Executive during the Term, this Agreement shall terminate as of the date of the Executive's death. In the event of the Total Disability (as that term is defined below) of the Executive for sixty (60) days in the aggregate during any consecutive nine (9) month period during the Term, the Company shall have the right to terminate this Agreement by giving the Executive thirty (30) days' prior written notice thereof, and upon the expiration of such thirty (30) day period, the Executive's employment under this Agreement shall terminate. If the Executive shall resume his duties within thirty (30) days after receipt of such a notice of termination and continue to perform such duties for four (4) consecutive weeks thereafter, this Agreement shall continue in full force and effect, without any reduction in Base Salary and other benefits, and the notice of termination shall be considered null and void and of no effect. Upon termination of this Agreement under this Paragraph 7(a), the Company shall have no further obligations or liabilities under this Agreement, except to pay to the Executive's estate or the Executive, as the case may be, (i) the portion, if any, that remains unpaid of the Base Salary for the Year in which termination occurred, but in no event less than six (6) months' Base Salary; and (ii) the amount of any expenses reimbursable in accordance with Paragraph 4 above, and any automobile allowance due under Paragraph 5 above; and (iii) any amounts due under any Company benefit, welfare or pension plan. Except as otherwise provided by their terms, any stock options not vested at the time of the termination of this Agreement under this Paragraph 7(a) shall immediately become fully vested.

  • 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.

  • Total Disability The Company may terminate Executive's employment hereunder upon Executive becoming "Totally Disabled". For purposes of this Agreement, Executive shall be "Totally Disabled" if Executive is physically or mentally incapacitated so as to render Executive incapable of performing Executive's usual and customary duties under this Agreement. Executive's receipt of disability benefits under the Company's long-term disability plan or receipt of Social Security disability benefits shall be deemed conclusive evidence of Total Disability for purpose of this Agreement; provided, however, that in the absence of Executive's receipt of such long-term disability benefits or Social Security benefits, the Company's Board of Directors may, in its reasonable discretion (but based upon appropriate medical evidence), determine that Executive is Totally Disabled.

  • 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 by Reason of Total Disability In the event that Executive's employment is terminated by reason of Executive's Total Disability as determined in accordance with Section 5(b), the Company shall pay the following amounts to Executive:

  • Disability/Disabled For the purpose of this Agreement, an Executive will be considered disabled if:

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