Common use of Death, Retirement or Disability Clause in Contracts

Death, Retirement or Disability. Executive’s employment shall terminate automatically upon Executive’s death or Retirement (pursuant to the definition of Retirement set forth below) during the Employment Period. For purposes of this Agreement, “Retirement” shall mean Executive’s voluntary separation from service on or after the later of (i) 90 days after Executive has provided written notice to the Company’s corporate secretary of Executive’s decision to retire, or (ii) Executive’s attainment of age 60 (but shall not include Executive’s voluntary termination after Executive has been given notice that he may be terminated for Cause). If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate Executive’s employment. In such event, Executive shall separate from service with the Company effective on the 30th day after receipt of such notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full‑time performance of Executive’s duties to the reasonable expectations of the Company. For purposes of this Agreement, “Disability” shall mean any illness or other physical or mental condition of Executive that renders Executive incapable of performing Executive’s customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental disorder which, in either case, has lasted or can reasonably be expected to last for at least 180 days out of a period of 365 consecutive days. The Board may require such medical or other evidence as it deems necessary to judge the nature and permanency of Executive’s condition.

Appears in 2 contracts

Samples: Change in Control Agreement (Lowes Companies Inc), Change in Control Agreement (Lowes Companies Inc)

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Death, Retirement or Disability. Executive’s employment shall terminate automatically upon Executive’s death or Retirement (pursuant to the definition of Retirement set forth below) during the Employment Period. For purposes of this Agreement, “Retirement” shall mean Executive’s voluntary separation from service on or after the later of (i) 90 days after retirement that would entitle Executive has provided written notice to normal retirement benefits under the Company’s corporate secretary of Executive’s decision to retire, or (ii) Executive’s attainment of age 60 (but shall not include Executive’s voluntary termination after Executive has been given notice that he may be terminated for Cause)then-current retirement plan. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate Executive’s employment. In such event, Executive shall separate from service Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full‑time full-time performance of Executive’s duties to the reasonable expectations of the Companyduties. For purposes of this Agreement, “Disability” shall mean any illness the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or other without reasonable accommodation, due to a medically determinable physical or mental condition of Executive that renders Executive incapable of performing Executive’s customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental disorder which, in either case, which has lasted (or can reasonably be expected to last last) for at least 180 days out of a period of 365 six consecutive daysmonths. The Board may require At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such medical or other evidence as it deems necessary to judge the nature and permanency of independent certification (if so requested by Executive), Executive’s conditiontermination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

Appears in 2 contracts

Samples: Change in Control Agreement (Gold Kist Inc.), Control Agreement (Gold Kist Inc.)

Death, Retirement or Disability. Executive’s 's employment shall terminate automatically upon Executive’s 's death or Retirement (pursuant to the definition of Retirement set forth below) during the Employment Period. For purposes of this Agreement, "Retirement" shall mean Executive’s 's voluntary separation from service termination of employment on or after the later of (i) 90 days after Executive has provided written notice to the Company’s 's corporate secretary of Executive’s his decision to retire, or (ii) Executive’s 's attainment of age 60 (but shall not include Executive’s 's voluntary termination after Executive he has been given notice that he may be terminated for Cause). If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate Executive’s 's employment. In such event, Executive shall separate from service Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, Executive shall not have returned to full‑time full-time performance of Executive’s duties to the reasonable expectations of the Company's duties. For purposes of this Agreement, "Disability" shall mean mental or physical disability as determined by the Board in accordance with standards and procedures similar to those under the Company's employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, Disability shall mean any illness or other physical or mental condition of Executive that renders Executive incapable of performing Executive’s his customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental disorder which, in either case, has lasted or can reasonably be expected to last for at least 180 days out of a period of 365 consecutive days. The Board may require such medical or other evidence as it deems necessary to judge the nature and permanency of Executive’s 's condition.

Appears in 2 contracts

Samples: Management Continuity Agreement (Lowes Companies Inc), Management Continuity Agreement (Lowes Companies Inc)

Death, Retirement or Disability. Executive’s employment shall terminate automatically upon Executive’s death or Retirement (pursuant to the definition of Retirement set forth below) during the Employment Period. For purposes of this Agreement, “Retirement” shall mean Executive’s voluntary separation from service on or after the later of (i) 90 days after Executive has provided written notice to the Company’s corporate secretary of Executive’s his decision to retire, or (ii) Executive’s attainment of age 60 (but shall not include Executive’s voluntary termination after Executive he has been given notice that he may be terminated for Cause). If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice in accordance with Section 12(b13(b) of this Agreement of its intention to terminate Executive’s employment. In such event, Executive shall separate from service with the Company effective on the 30th day after receipt of such notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full‑time full-time performance of Executive’s duties to the reasonable expectations of the Companyduties. For purposes of this Agreement, “Disability” shall mean mental or physical disability as determined by the Board in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, Disability shall mean any illness or other physical or mental condition of Executive that renders Executive incapable of performing Executive’s his customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental disorder which, in either case, has lasted or can reasonably be expected to last for at least 180 days out of a period of 365 consecutive days. The Board may require such medical or other evidence as it deems necessary to judge the nature and permanency of Executive’s condition.

Appears in 2 contracts

Samples: Management Continuity Agreement (Lowes Companies Inc), Management Continuity Agreement (Lowes Companies Inc)

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Death, Retirement or Disability. Executive’s 's employment shall terminate automatically upon Executive’s 's death or Retirement (pursuant to the definition of Retirement set forth below) during the Employment Period. For purposes of this Agreement, "Retirement" shall mean Executive’s 's voluntary separation from service termination of employment on or after the later of (i) 90 days after Executive has provided written notice to the Company’s 's corporate secretary of Executive’s his decision to retire, or (ii) Executive’s 's attainment of age 60 (but shall not include Executive’s 's voluntary termination after Executive he has been given notice that he may be terminated for Cause). If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate Executive’s 's employment. In such event, Executive shall separate from service Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, Executive shall not have returned to full‑time full-time performance of Executive’s duties to the reasonable expectations of the Company's duties. For purposes of this Agreement, "Disability" shall mean mental or physical disability as determined by the Board in accordance with standards and procedures similar to those under the Company's employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, Disability shall mean any illness or other physical or mental condition of Executive that renders Executive incapable of performing Executive’s his customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental disorder which, in either case, has lasted or can reasonably be expected to last for at least 180 days out of a period of 365 consecutive days. The Board may require such medical or other evidence as it deems necessary to judge the nature and permanency of Executive’s 's condition.. (b)

Appears in 1 contract

Samples: Management Continuity Agreement for Executive Officers   Agreement (Lowes Companies Inc)

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