Common use of Disability of Executive Clause in Contracts

Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s full-time duties hereunder for six consecutive months, then 30 days after giving written notice to Executive (which notice may occur before or after the end of such six month-period, but which shall not be effective earlier than the last day of such six month-period), the Company may terminate Executive’s employment provided Executive is unable to resume Executive’s full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s employment if Executive’s health should become impaired to an extent that makes the continued performance of Executive’s duties hereunder hazardous to Executive’s physical or mental health or Executive’s life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s request made within 10 days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s doctor and such doctor shall have concurred in the conclusion of Executive’s doctor. In the event Executive’s employment under this Agreement is terminated as a result of Executive’s disability, Executive shall receive from the Company, in a lump-sum payment due within 10 days of the effective date of such termination, an amount equal to the base salary payable to Executive pursuant to paragraph 2(a) of this Agreement, for the lesser of the time period then remaining under the Term or one year. The disability benefits provided for in this Agreement are independent of any disability insurance benefits that Executive receives.

Appears in 7 contracts

Samples: Employment Agreement (Brillian Corp), Employment Agreement (Brillian Corp), Employment Agreement (Brillian Corp)

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Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s 's full-time duties hereunder for six (6) consecutive months, then 30 thirty (30) days after giving written notice to Executive (which notice may occur before or after the end of such six month-(6) month period, but which shall not be effective earlier than the last day of such six month-(6) month period), the Company may terminate Executive’s 's employment provided Executive is unable to resume Executive’s 's full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s 's employment if Executive’s 's health should become impaired to an extent that makes the continued performance of Executive’s 's duties hereunder hazardous to Executive’s 's physical or mental health or Executive’s 's life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s 's request made within 10 ten (10) days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s 's doctor and such doctor shall have concurred in the conclusion of Executive’s 's doctor. In the event Executive’s 's employment under this Agreement is terminated as a result of Executive’s 's disability, Executive shall receive from the Company, in a lump-sum payment due within 10 ten (10) days of the effective date of such termination, an amount equal to the greater of (1) the average of the base salary payable and bonus paid to Executive pursuant to paragraph 2(a) of this Agreement, for the lesser of two (2) prior full fiscal years prior to such termination or (2) Executive's base salary and Targeted Bonus for the time period then remaining under the Term or one yearfiscal year during which such termination occurs. The disability benefits provided for in this Agreement are independent of any disability insurance benefits that Executive receives.

Appears in 1 contract

Samples: Control Severance Agreement (Synaptics Inc)

Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s full-time duties hereunder for six (6) consecutive months, then 30 thirty (30) days after giving written notice to Executive (which notice may occur before or after the end of such six month-(6) month period, but which shall not be effective earlier than the last day of such six month-(6) month period), the Company may terminate Executive’s employment provided Executive is unable to resume Executive’s full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s employment if Executive’s health should become impaired to an extent that makes the continued performance of Executive’s duties hereunder hazardous to Executive’s physical or mental health or Executive’s life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s request made within 10 ten (10) days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s doctor and such doctor shall have concurred in the conclusion of Executive’s doctor. In the event Executive’s employment under this Agreement is terminated as a result of Executive’s disability, Executive shall receive from the Company, in a lump-sum payment due within 10 ten (10) days of the effective date of such termination, an amount equal to the greater of (1) the average of the base salary payable and bonus paid to Executive pursuant to paragraph 2(a) of this Agreement, for the lesser of two (2) prior full fiscal years prior to such termination or (2) Executive’s base salary and Targeted Bonus for the time period then remaining under the Term or one yearfiscal year during which such termination occurs. The disability benefits provided for in this Agreement are independent of any disability insurance benefits that Executive receives.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Synaptics Inc)

Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s 's full-time duties hereunder for six (6) consecutive months, then 30 thirty (30) days after giving written notice to Executive (which notice may occur before or after the end of such six month-(6) month period, but which shall not be effective earlier than the last day of such six month-(6) month period), the Company may terminate Executive’s 's employment provided Executive is unable to resume Executive’s 's full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s 's employment if Executive’s 's health should become impaired to an extent that makes the continued performance of Executive’s 's duties hereunder hazardous to Executive’s 's physical or mental health or Executive’s 's life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s 's request made within 10 ten (10) days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s 's doctor and such doctor shall have concurred in the conclusion of Executive’s 's doctor. In the event Executive’s 's employment under this Agreement is terminated as a result of Executive’s 's disability, Executive shall receive from the Company, in a lump-sum payment due within 10 ten (10) days of the effective date of such termination, an amount equal to the greater of two (2) times (1) the average of the base salary payable and bonus paid to Executive pursuant to paragraph 2(a) of this Agreement, for the lesser of two (2) prior full fiscal years prior to such termination or (2) Executive's base salary and Targeted Bonus for the time period then remaining under the Term or one yearfiscal year during which such termination occurs. The disability benefits provided for in this Agreement are independent of any disability insurance benefits that Executive receives.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Synaptics Inc)

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Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s his full-time duties hereunder for six (6) consecutive months, then 30 thirty (30) days after giving receiving written notice to Executive (which notice may occur before or after the end of such six month-(6) month period, but which shall not be effective earlier than the last day of such six month-(6) month period), the Company may terminate Executive’s 's employment provided Executive is unable to resume Executive’s his full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s his employment if Executive’s his health should become impaired to an extent that makes the continued performance of Executive’s his duties hereunder hazardous to Executive’s his physical or mental health or Executive’s his life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s 's request made within 10 thirty (30) days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s 's doctor and such doctor shall have concurred in the conclusion of Executive’s 's doctor. In the event Executive’s 's employment under this Agreement is terminated as a result of Executive’s 's disability, Executive shall receive from the Company, in a lump-sum payment due within 10 ten (10) days of the effective date of such termination, an amount equal to the average of the base salary payable and bonus paid to Executive pursuant to paragraph 2(afor the two (2) of this Agreementprior full fiscal years, for the lesser of the time period then remaining under the Term of this Agreement or for one (1) year. The disability benefits provided for in this Agreement are independent In the event of any disability insurance benefits that such termination, all options to purchase Common Stock of the Company held by Executive receivesshall thereupon vest and shall be exercisable during their full term notwithstanding the termination of employment.

Appears in 1 contract

Samples: Employment Agreement (Marinemax Inc)

Disability of Executive. If, as a result of incapacity due to physical or mental illness or injury, Executive shall have been absent from Executive’s his full-time duties hereunder for six (6) consecutive months, then 30 thirty (30) days after giving receiving written notice to Executive (which notice may occur before or after the end of such six month-(6) month period, but which shall not be effective earlier than the last day of such six month-(6) month period), the Company may terminate Executive’s 's employment provided Executive is unable to resume Executive’s his full-time duties at the conclusion of such notice period. Also, Executive may terminate Executive’s his employment if Executive’s his health should become impaired to an extent that makes the continued performance of Executive’s his duties hereunder hazardous to Executive’s his physical or mental health or Executive’s his life, provided that Executive shall have furnished the Company with a written statement from a qualified doctor to such effect and provided, further, that, at the Company’s 's request made within 10 thirty (30) days of the date of such written statement, Executive shall submit to an examination by a doctor selected by the Company who is reasonably acceptable to Executive or Executive’s 's doctor and such doctor shall have concurred in the conclusion of Executive’s 's doctor. In the event Executive’s 's employment under this Agreement is terminated as a result of Executive’s 's disability, Executive shall receive from the Company, in a lump-sum payment due within 10 ten (10) days of the effective date of such termination, an amount equal to the average of the base salary payable and bonus paid to Executive pursuant to paragraph 2(afor the two (2) of this Agreementprior full fiscal years, for the lesser of the time period then remaining under the Term or one year. The disability benefits provided for in of this Agreement are independent of any disability insurance benefits that Executive receivesor for one (1) year.

Appears in 1 contract

Samples: Employment Agreement (Marinemax Inc)

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