Incapacity of the Executive Sample Clauses

Incapacity of the Executive. If the Executive shall have an Incapacity, the CEO or the Board may, by giving the Executive written notice, terminate the Executive's employment under this Agreement. A termination of the Executive's employment under this Section 5(a) shall be effective as of the date provided in such notice. In the event of termination under this Section 5(a), the Executive shall be entitled to his Accrued Benefits as of the date of termination and no other payments or benefits. The Executive shall not be eligible for a pro-rated bonus, and there shall be no acceleration of vesting of stock options.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Incapacity of the Executive. If the Executive suffers from a physical or mental condition which in the reasonable judgment of the Board prevents the Executive in whole or in part from performing the duties specified herein for a period of three (3) consecutive months, the Executive may be terminated. Although the termination may be deemed as a termination for Cause, the Executive will be entitled to receive within thirty (30) days of the Termination Date (a) a payment of twenty-six (26) weeks of Base Salary in a lump sum; and (b) payment of any vacation pay accrued but unused through the Termination Date. Notwithstanding the foregoing, the amount payable under clause (a) above will be reduced by any benefits payable under any disability plans provided by the Company. The right to the foregoing compensation due under clause (a) above is subject to the execution by the Executive or the Executive’s legal representative, on or before thirty (30) days following the Termination Date, of the Company’s severance agreement which will operate as a release of all legally waivable claims against the Company and its Affiliates, and their respective partners, officers, directors, employees, agents and representatives, and the Executive’s compliance with all of the provisions of this Agreement, including all post-employment obligations. In applying this paragraph, the Company will comply with any applicable legal requirements, including the Americans with Disabilities Act.
Sample 1Sample 2See All (5)
Incapacity of the Executive. If the Executive shall, at any time, be incapacitated or prevented by physical or mental disability, whether resulting from accident, illness or otherwise, or any other circumstances beyond his control from performing his duties under this Agreement satisfactorily for a consecutive period of at least sixty (60) days, the Company may, by written notice to the Executive given at any time after such 60-day period and so long as the incapacity shall continue, discontinue payment in whole or in part of the compensation provided for herein from such date as may be specified in the notice until the incapacity of the Executive shall cease. Alternatively, the Company may terminate the Executive's employment as provided in Section 11 (Termination) hereof. Otherwise, the said payment shall, notwithstanding the incapacity of the Executive, continue to be paid to the Executive in accordance with the foregoing provisions; provided, that if the Executive shall receive any amount during the time of such incapacity by reason of any disability insurance or any other insurance plan, senior executive loss or income policy, disability policy or any other plan or scheme of a like nature funded by the Company or the Parent Group, the payment above provided may be reduced by a like amount.
Sample 1
Incapacity of the Executive. If the Executive shall have an Incapacity, the CEO or the Board may, by giving the Executive written notice, terminate the Executive’s employment under this Agreement. A termination of the Executive’s employment under this Section 5(a) shall be effective as of the date provided in such notice. In the event of termination under this Section 5(a), the Executive shall be entitled to his Accrued Benefits as of the date of termination and severance pay, in equal installments as set forth in Section 4(a), in an amount equal to the Base Salary that would be payable to Executive over the period commencing on the date of termination provided in such notice and ending at the expiration of [six (6)] months following the date of termination provided in such notice, assuming the Base Salary is the amount of Executive’s Base Salary at the time of termination; provided, however, that such payments shall be reduced by the aggregate amount of any payments Executive will be entitled to receive over the period from the date of the termination of his employment hereunder through the end of the Employment Period under any disability insurance policy provided to Executive by the Company, and thereafter no other payments or benefits shall be owed by the Company to the Executive. The Executive shall not be eligible for a pro-rated bonus, and there shall be no acceleration of vesting of stock options, [but, if such termination occurs between the end of a fiscal year and the payment date of any bonus due pursuant to Section 4(b) hereof, the Executive shall be paid such bonus as would otherwise be due within 90 days after the end of such fiscal year.]
Sample 1
Incapacity of the Executive. 7.1. If the Executive is absent from work for any reason he must notify the Company Secretary of the reason for his absence as soon as possible on the first day of absence.
Sample 1

Related to Incapacity of the Executive

  • Death of the Executive In the event of the Executive’s death before all payments or benefits the Executive is entitled to receive under this Agreement have been provided, the unpaid amounts will be provided to the Executive’s designated beneficiary, if living, or otherwise to the Executive’s personal representative in a single lump sum as soon as possible following the Executive’s death.

  • Incapacity If a Limited Partner is subject to Incapacity, the executor, administrator, trustee, committee, guardian, conservator or receiver of such Limited Partner’s estate shall have all the rights of a Limited Partner, but not more rights than those enjoyed by other Limited Partners, for the purpose of settling or managing the estate, and such power as the Incapacitated Limited Partner possessed to Transfer all or any part of its interest in the Partnership. The Incapacity of a Limited Partner, in and of itself, shall not dissolve or terminate the Partnership.

  • Duties of the Executive 3.1 The Executive shall at all times during the period of this Agreement:

  • Termination by the Executive The Executive may terminate employment hereunder at any time for any reason, including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent (each, a “Good Reason Condition”):

  • AGREEMENTS OF THE EXECUTIVE In consideration of the compensation and benefits to be paid or provided to the Executive by the Employer under this Agreement, the Executive covenants as follows:

  • Compensation of the Executive 3 4. Termination.........................................................................4 5. Confidential And Proprietary Information; Nonsolicitation...........................7 6.

  • Successor to the Executive This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination of employment but prior to the completion by the Company of all payments due him under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive fails to make such designation).

  • By the Executive The Executive may terminate the Employment at any time with a three-month prior written notice to the Company or by payment of three months’ salary in lieu of notice. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation or an alternative arrangement with respect to the Employment is approved by the Board.

  • Disability of Executive The Company may terminate this Agreement without liability if Executive shall be permanently prevented from properly performing his essential duties hereunder with reasonable accommodation by reason of illness or other physical or mental incapacity for a period of more than one hundred twenty 120 consecutive days. Upon such termination, Executive shall be entitled to all accrued but unpaid Base Salary and vacation.

  • Termination Upon Death or Permanent Disability This Agreement shall be automatically terminated on the death of Executive or on the permanent disability of Executive if Executive is no longer able to perform in all material respects the usual and customary duties of Executive’s employment hereunder. For purposes hereof, any condition which in reasonable likelihood is expected to impair Executive’s ability to materially perform Executive’s duties hereunder for a period of three months or more shall be considered to be permanent.

Time is Money Join Law Insider Premium to draft better contracts faster.