Common use of Permanent Disability of Employee Clause in Contracts

Permanent Disability of Employee. If Employee has been, for substantially all the normal working days during five (5) consecutive months, unable to perform Employee's responsibilities and duties and to exercise Employee's authorities in a satisfactory manner due to mental or physical disability, then Employee may be deemed "permanently disabled," and Employee's employment may be terminated at the election of the Board. Any determination of permanent disability made by Employer shall be final and conclusive. In the event that Employer deems Employee "permanently disabled," Employee shall be entitled to receive the unpaid balance of Employee's annual salary, together with other accrued benefits to the date of the determination of being permanently disabled, payable as immediately prior to termination for the remaining then current term of this Employment Agreement, less any amount received by Employee under any Employer or Employer affiliate-provided long term disability coverage and/or program. It is provided, however, that if Employee breaches or fails to fulfill Employee's obligations under or is in violation of Section 4(h), Section 7(g), or the fifth sentence of Section 1(c), such salary and benefits shall thereupon terminate.

Appears in 2 contracts

Samples: Employment Agreement (Fpic Insurance Group Inc), Employment Agreement (Fpic Insurance Group Inc)

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Permanent Disability of Employee. If Employee has been, for substantially all the normal working days during five three (53) consecutive months, unable to perform Employee's responsibilities and duties and to exercise Employee's authorities in a satisfactory manner due to mental or physical disability, then Employee may be deemed "permanently disabled," and Employee's employment may be terminated at the election of the BoardBoard of Employer. Any determination of permanent disability made by Employer shall be final and conclusive. In the event that Employer deems Employee "permanently disabled," Employee shall be entitled to receive the unpaid balance of Employee's annual salary, together with other accrued benefits to the date of the determination of being permanently disabled, payable as immediately prior to termination for the remaining then current term of this Employment Agreement, less any amount received by Employee under any Employer or Employer affiliateEmployer-provided long term disability coverage and/or program. It is ; provided, however, that if Employee breaches directly or fails to fulfill Employee's obligations under indirectly engages in or acts as an executive of or consultant for any trade or occupation that is in violation of Section 4(h), Section 7(g), or the fifth sentence of Section 1(c)competition with Employer, such salary and benefits shall thereupon terminate.

Appears in 2 contracts

Samples: Employment Agreement (Fpic Insurance Group Inc), Employment Agreement (Fpic Insurance Group Inc)

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Permanent Disability of Employee. 3 20 If Employee has been, for substantially all the normal working days during five three (53) consecutive months, unable to perform Employee's responsibilities and duties and to exercise Employee's authorities in a satisfactory manner due to mental or physical disability, then Employee may be deemed "permanently disabled," and Employee's employment may be terminated at the election of the BoardBoard of Employer. Any determination of permanent disability made by Employer shall be final and conclusive. In the event that Employer deems Employee "permanently disabled," Employee shall be entitled to receive the unpaid balance of Employee's annual salary, together with other accrued benefits to the date of the determination of being permanently disabled, payable as immediately prior to termination for the remaining then current term of this Employment Agreement, less any amount received by Employee under any Employer or Employer affiliateEmployer-provided long term disability coverage and/or program. It is ; provided, however, that if Employee breaches directly or fails to fulfill Employee's obligations under indirectly engages in or acts as an executive of or consultant for any trade or occupation that is in violation of Section 4(h), Section 7(g), or the fifth sentence of Section 1(c)competition with Employer, such salary and benefits shall thereupon terminate.

Appears in 1 contract

Samples: Employment Agreement (Fpic Insurance Group Inc)

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