Death; Total Disability. (a) Executive's employment shall terminate upon Executive's death. The Company may terminate Executive's employment upon his 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 the essential functions of his position with or without reasonable accommodation, for a period of more than 180 days. Executive's receipt of disability benefits under the Company's long-term disability benefits plan or receipt of Social Security disability benefits shall be deemed conclusive evidence that Executive is Totally Disabled for purpose of this Agreement. In the absence of Executive's receipt of such long-term disability benefits or Social Security benefits, the determination of whether Executive is Totally Disabled will be made by a personal physician selected by Executive (or his legal representative) and approved by the Compensation Committee. The determination of such personal physician shall be final and binding, unless it is determined to have been arbitrary and capricious.
Appears in 3 contracts
Samples: Employment Agreement (Collegiate Funding Services Inc), Employment Agreement (Collegiate Funding Services Inc), Employment Agreement (Collegiate Funding Services Inc)
Death; Total Disability. (aA) Executive's employment shall terminate upon Executive's death. The Company may terminate Executive's employment upon his 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 the essential functions of his position with or without reasonable accommodation, for a period of more than 180 days. Executive's receipt of disability benefits under the Company's long-term disability benefits plan or receipt of Social Security disability benefits shall be deemed conclusive evidence that Executive is Totally Disabled for purpose of this Agreement. In the absence of Executive's receipt of such long-term disability benefits or Social Security benefits, the determination of whether Executive is Totally Disabled will be made by a personal physician selected by Executive (or his legal representative) and approved by the Compensation Committee. The determination of such personal physician shall be final and binding, unless it is determined to have been arbitrary and capricious.
Appears in 1 contract
Samples: Employment Agreement (Collegiate Funding Services Inc)