Common use of By Death or Disability Clause in Contracts

By Death or Disability. In the event of the Executive’s death, his base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his death shall be paid to his designated beneficiary, or to his estate if no beneficiary has been designated. In the event of his disability the Executive shall be paid his compensation for the succeeding period of time but no less than three (3) months. Thereafter for the succeeding three (3) months shall be treated as being on an authorized unpaid leave of absence.

Appears in 4 contracts

Samples: Employment Agreement (Biofrontera Inc.), Amended Employment Agreement (Biofrontera Inc.), Amended Employment Agreement (Biofrontera Inc.)

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By Death or Disability. In the event of the Executive’s 's death, his base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his death shall be paid to his designated beneficiary, or to his estate if no beneficiary has been designatedBeneficiary. In the event of his disability disability, for the period ending on the last business day of the third calendar month following the occurrence of such disability, the Executive shall be paid his base compensation for (reduced by any amount received by the succeeding period Executive under the terms of time but no less than three (3) months. Thereafter any disability insurance policy maintained by the Company at its sole expense); thereafter, for the succeeding three (3) months shall be treated as being on an authorized but unpaid leave of absence.

Appears in 3 contracts

Samples: Employment Agreement (Genomed Inc), Stock Option Agreement (Genomed Inc), Employment Agreement (Genomed Inc)

By Death or Disability. In the event of the Executive’s 's death, his base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his death shall be paid to his designated beneficiary, or to his estate if no beneficiary has been designated. In the event of his disability the Executive shall be paid his compensation for the succeeding period of time but no less than three (3) months. Thereafter for the succeeding three (3) months shall be treated as being on an authorized but unpaid leave of absence.

Appears in 2 contracts

Samples: Employment Agreement (Dnaprint Genomics Inc), Employment Agreement (Dnaprint Genomics Inc)

By Death or Disability. In the event of the Executive’s death, his their base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his their death shall be paid to his their designated beneficiary, or to his their estate if no beneficiary has been designated. In the event of his their disability the Executive shall be paid his their compensation for the succeeding period of time but no less than three (3) months. Thereafter for the succeeding three (3) months shall be treated as being on an authorized unpaid leave of absence.

Appears in 2 contracts

Samples: Employment Agreement (Biofrontera Inc.), Employment Agreement (Biofrontera Inc.)

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By Death or Disability. In the event of the Executive’s death, his her base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his her death shall be paid to his her designated beneficiary, or to his her estate if no beneficiary has been designated. In the event of his her disability the Executive shall be paid his her compensation for the succeeding period of time but no less than three (3) months. Thereafter for the succeeding three (3) months shall be treated as being on an authorized unpaid leave of absence.

Appears in 2 contracts

Samples: Employment Agreement (Biofrontera Inc.), Employment Agreement (Biofrontera Inc.)

By Death or Disability. In the event of the Executive’s 's death, his her base compensation otherwise due for the succeeding period of time but no less than three (3) full calendar months following his her death shall be paid to his her designated beneficiary, or to his her estate if no beneficiary has been designated. In the event of his her disability the Executive shall be paid his her compensation for the succeeding period of time but no less than three (3) months. Thereafter for the succeeding three (3) months shall be treated as being on an authorized but unpaid leave of absence.

Appears in 1 contract

Samples: Employment Agreement (Dnaprint Genomics Inc)

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