Common use of Disability, Death or Retirement Clause in Contracts

Disability, Death or Retirement. (i) The Employment Term and Executive’s employment hereunder shall terminate (A) upon his death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two (2) consecutive months or for an aggregate of three (3) months in any twelve (12) consecutive month period to perform his duties, (such incapacity is hereinafter referred to as “Disability”); and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, “

Appears in 1 contract

Samples: Employment Agreement (Sparta Commercial Services, Inc.)

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Disability, Death or Retirement. (i) The Employment Term and Executive’s employment hereunder shall terminate (A) upon his her death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two six (26) consecutive months or for an aggregate of three (3) months in any twelve (12) months, or such longer period as the Company’s Board of Directors in its sole discretion may determine, in any twenty-four (24) consecutive month period to perform his her duties, (such incapacity is hereinafter referred to as “Disability”); and (C) upon his her Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, “

Appears in 1 contract

Samples: Employment Agreement (Sparta Commercial Services, Inc.)

Disability, Death or Retirement. (i) The Employment Term and Executive’s 's employment hereunder shall terminate (A) upon his death; , (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two six (26) consecutive months or for an aggregate of three eight (3) 8) months in any twelve (12) consecutive month period to perform his duties, duties (such incapacity is hereinafter referred to as "Disability”); ") and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of 5 Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, "

Appears in 1 contract

Samples: Employment Agreement (Universal American Financial Corp)

Disability, Death or Retirement. (i) The Employment Term and Executive’s employment hereunder shall terminate (A) upon his death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two six (26) consecutive months or for an aggregate of three (3) months in any twelve (12) months, or such longer period as the Company’s Board of Directors in its sole discretion may determine, in any twenty-four (24) consecutive month period to perform his duties, (such incapacity is hereinafter referred to as “Disability”); and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, “

Appears in 1 contract

Samples: Employment Agreement (Sparta Commercial Services, Inc.)

Disability, Death or Retirement. (i) The Employment Term and Executive’s 's employment hereunder shall terminate (A) upon his death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two (2) consecutive months or for an aggregate of three (3) months in any twelve (12) consecutive month period to perform his duties, (such incapacity is hereinafter referred to as "Disability"); and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, “.

Appears in 1 contract

Samples: Employment Agreement (Sparta Commercial Services, Inc.)

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Disability, Death or Retirement. (i) The Employment Term and Executive’s 's employment hereunder shall terminate (A) upon his death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two three (23) consecutive months or for an aggregate of three six (36) months months, or such longer period as the Company's Board of Directors in its sole discretion may determine, in any twelve (12) consecutive month period to perform his duties, (such incapacity is hereinafter referred to as "Disability"); and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, "

Appears in 1 contract

Samples: Employment Agreement (Tomahawk Industries Inc)

Disability, Death or Retirement. (i) The Employment Term and Executive’s 's employment hereunder shall terminate (A) upon his death; (B) if Executive becomes physically or mentally incapacitated for a period of indefinite duration and is therefore unable for a period of two six (26) consecutive months or for an aggregate of three (3) months in any twelve (12) months, or such longer period as the Company's Board of Directors in its sole discretion may determine, in any twenty-four (24) consecutive month period to perform his duties, (such incapacity is hereinafter referred to as "Disability"); and (C) upon his Retirement (as defined below). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of such third physician shall be binding upon the parties hereto. For purposes of this Agreement, "

Appears in 1 contract

Samples: Employment Agreement (Tomahawk Industries Inc)

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