Common use of Illness or Incapacity Clause in Contracts

Illness or Incapacity. If Executive is incapacitated by reason of physical or mental illness or incapacity that results in a material inability to perform his duties under this Agreement, and if such incapacitation continues for a period of ninety 90 consecutive days, then upon 30 days written notice to Executive, or designated legal representative, the Company may terminate the employment of Executive under this Agreement, and upon such termination, Company will pay Executive the following: (1) His Base Salary to the date of termination (2) An amount equal to his prior year’s Annual Bonus on a pro-rata basis to the date of termination, subject to limitations and terms of Paragraph 4(B). (3) Reimbursement of all expenses reasonably incurred by Executive in performing his responsibilities and duties for the Company prior to the date of termination (4) Applicable insurance and other group benefits proceeds (5) Value of any salary continuation received whether in lump sum or periodically under any Company Long Term Disability Plan or any other applicable insurance or other group benefits provided by the Company.