Payments Due Upon Termination Due to Disability Sample Clauses

Payments Due Upon Termination Due to Disability. If the Company terminates Executive’s employment due to “Disability” pursuant to Section 4(d) above, the Company shall have no obligation to Executive, except:
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Payments Due Upon Termination Due to Disability. If the Agreement is terminated due to "Disability" pursuant to paragraph 4(d) above, the Company shall have no obligation to Executive, except the Company shall pay Executive: (i) continued then current annual base salary for 36 months, provided, however, while the Company is making such payments, the Company will be entitled to receive in money or by credit against such payments a sum equal to any long-term disability insurance benefits paid to or for the benefit of Executive for such period; (ii) any accrued and unpaid Base Salary and accrued and unused vacation pay through the date of Executive's termination due to Disability, and any other monies owed to or accrued for the benefit of Executive by the Company, including monies owed pursuant to any plans or benefits provided by or through the Company in which Executive was then participating at the time of disability; (iii) all previously unvested stock options, stock appreciation tights and stock performance rights then owned by Executive shall immediately vest and become fully exercisable as of the date of termination for a period of one year; and (iv) Executive shall be entitled to all post-employment benefits required under applicable law. Notwithstanding the foregoing, in the event of termination of the Agreement due to Executive's disability, Executive and Executive's spouse shall be entitled to continue to be covered (or have the right to maintain their own coverage) at the Company's expense for health and medical insurance on the same basis as prior to the termination until Executive and Executive's spouse each attains age 65.
Sample 1

Related to Payments Due Upon Termination Due to Disability

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

  • Termination Due to Death or Disability Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Disability, such termination to be effective upon Executive’s receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Disability, Executive or Executive’s estate or Executive’s beneficiaries, as the case may be, shall be entitled to:

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • Termination Due to Death, Disability or Retirement In the event the Optionee’s employment with the Company and all Subsidiaries is terminated by reason of death, Disability or Retirement, this Option will remain exercisable, to the extent exercisable as of the date of such termination, for a period of one year after such termination (but in no event after the Time of Termination).

  • Compensation Upon Termination or During Disability In the event Executive is disabled or his employment terminates during the Employment Period, the Company shall provide Executive with the payments and benefits set forth below. Executive acknowledges and agrees that the payments set forth in this Section 8 constitute liquidated damages for termination of his employment during the Employment Period.

  • Termination of Employment Due to Death or Disability If the Executive’s employment is terminated at any time due to his or her death or Disability, this Agreement shall terminate without further obligation by the Company to the Executive, other than the obligation to pay the Accrued Obligations to the Executive or his or her legal representatives.

  • Termination Due to Death In the event that the Executive’s employment is terminated due to his death, his estate or his beneficiaries, as the case may be, shall be entitled to the following benefits:

  • Termination by Death or Disability In the event of the death of EMPLOYEE or the inability of EMPLOYEE to perform the obligations described in this Agreement with or without accommodation by reason of disability or some other occurrence beyond the control of either party, and such inability to perform has continued or will continue beyond a reasonable period of time, but not less than 60 days, this Agreement shall terminate as a termination with cause and all future obligations between the parties shall cease upon the termination date reasonably established by LSU, unless otherwise required by law.

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

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