Common use of Disability of the Executive Clause in Contracts

Disability of the Executive. If the Executive is incapacitated or disabled by accident, sickness or otherwise (including, without limitation, as a result of abuse of alcohol or other drugs or controlled substances) so as to render the Executive mentally or physically incapable of performing the services required to be performed under this Agreement for a period of one hundred twenty (120) consecutive days or longer or for any one hundred eighty (180) days in any period of three hundred sixty (360) consecutive days (a "Disability"), the Company may, at that time or any time thereafter, at its option, terminate the employment of the Executive under this Agreement immediately upon giving the Executive notice to that effect. In the event of the Disability of the Executive, the Executive shall receive severance compensation equal to six months salary.

Appears in 1 contract

Samples: Employment Agreement (Wi-Tron, Inc.)

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Disability of the Executive. If the Executive is incapacitated or disabled by accident, sickness or otherwise (including, without limitation, as a result of abuse of alcohol or other drugs or controlled substances) so as to render the Executive mentally or physically incapable of performing the services required to be performed under this Agreement for a period of one hundred twenty ninety (12060) consecutive days or longer or for any one hundred eighty ninety (18090) days in any period of three hundred sixty (360) consecutive days (a "Disability"), the Company may, at that time or any time thereafter, at its option, terminate the employment of the Executive under this Agreement immediately upon giving the Executive notice to that effect. In the event of the Disability of the Executive, the Executive shall receive severance compensation equal to six months salary. The Company will provide the Executive with disability insurance.

Appears in 1 contract

Samples: Employment Agreement (Wi-Tron, Inc.)

Disability of the Executive. If the Executive is incapacitated or disabled by accident, sickness or otherwise (including, without limitation, as a result of abuse of alcohol or other drugs or controlled substances) so as to render the Executive mentally or physically incapable of performing the services required to be performed under this Agreement for a period of one hundred twenty ninety (12090) consecutive days or longer or for any one hundred eighty (180120) days in any period of three hundred sixty (360) consecutive days (a "Disability"), the Company may, at that time or any time thereafter, at its option, terminate the employment of the Executive under this Agreement immediately upon giving the Executive notice to that effect. In the event of the Disability of the Executive, the Executive shall receive severance compensation equal to six twelve months salary. The Company will provide disability insurance.

Appears in 1 contract

Samples: Employment Agreement (Wi-Tron, Inc.)

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Disability of the Executive. If the Executive is incapacitated or disabled by accident, sickness or otherwise (including, without limitation, as a result of abuse of alcohol or other drugs or controlled substances) so as to render the Executive mentally or physically incapable of performing the services required to be performed under this Agreement for a period of one hundred twenty (120) consecutive days or longer or for any one hundred eighty (180) days in any period of three hundred sixty (360) consecutive days (a "Disability"), the Company may, at that time or any time thereafter, at its option, terminate the employment of the Executive under this Agreement immediately upon giving the Executive notice to that effect. In the event of the Disability of the Executive, the Executive shall receive severance compensation equal to six months salarythe Base Salary for the greater of(a) the remainder of the Term of this Agreement and (b) the twelve (12) month period commencing on the Termination Date (as defined below).

Appears in 1 contract

Samples: Employment Agreement (Azurel LTD)

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