PERMANENT DISABILITY OR INCAPACITY Sample Clauses

PERMANENT DISABILITY OR INCAPACITY. In the event of Permanent Disability or Incapacity of any Shareholder for a continuous period of ( ) days, the following provisions and restrictions shall apply tot he disabled Shareholder's Shares, and all Shares owned by the disabled Shareholder's spouse including community interests. “Permanent Disability or Incapacity” shall be defined as a state of incapacity due to sickness or bodily injury which prevents a Shareholder from performing the usual, normal and customary duties and responsibilities pertaining to his occupation and position with Company for a period of ( ) days. In the event Company maintains Disability Insurance on the disabled Shareholder, then the definition of Permanent Disability shall be as state in the policy(ies) that Company maintains.
Sample 1
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PERMANENT DISABILITY OR INCAPACITY. The Executive shall be considered to be permanently disabled or incapacitated if in the reasonable commercial judgment of the Board of Trustees of EQR, the Executive becomes unable to satisfactorily perform his duties and responsibilities in the manner currently being performed during the Term hereof because of a mental or physical disability, or both, that continues or is reasonably expected to continue for a period of in excess of one hundred eighty (180) days. In the event the Executive does not agree with the Board of Trustees’ determination of disability or incapacity, a determination shall be made by a panel of three doctors. The first shall be chosen by EQR, the second shall be chosen by the Executive, and the third shall be chosen by the first two doctors. Any doctor selected by a party shall not be affiliated, associated or related to the party selecting the doctor in any manner whatsoever. The opinion of a majority of the panel of doctors shall be binding on the parties hereto. Each party shall bear the costs of the doctor chosen by them and 1/2 of the costs of the third doctor. The foregoing to the contrary notwithstanding, Executive shall be considered permanently disabled or incapacitated if his employment terminates due to his Disability, as provided under Executive’s Employment Agreement with the Company dated as of January 20, 2003 or, if applicable, under Executive’s Change In Control Agreement dated March 14, 2002, as either such agreement hereafter may be amended by the parties (“Employment Agreement” and “Change In Control Agreement,” respectively).
Sample 1
PERMANENT DISABILITY OR INCAPACITY. The Executive shall be considered to be permanently disabled or incapacitated if in the reasonable commercial judgment of the Board of Trustees of ERPT, the Executive becomes unable to satisfactorily perform his duties and responsibilities as Executive Vice President and Chief Operating Officer of ERPT in the manner currently being performed during the Term hereof because of a mental or physical disability, or both, that continues or is reasonably expected to continue for a period of in excess of one hundred eighty (180) days. In the event the Executive does not agree with the Board of Trustee's determination of disability or incapacity, a determination shall be made by a panel of three doctors. The first shall be chosen by ERPT, the second shall be chosen by the Executive, and the third shall be chosen by the first two doctors. Any doctor selected by a party shall not be affiliated, associated or related to the party selecting the doctor in any manner whatsoever. The opinion of a majority of the panel of doctors shall be binding on the parties hereto. Each party shall bear the costs of the doctor chosen by them and 1/2 of the costs of the third doctor.
Sample 1
PERMANENT DISABILITY OR INCAPACITY. The Executive shall be considered to be permanently disabled or incapacitated if in the reasonable commercial judgment of the Board of Trustees of ERPT, the Executive becomes unable to satisfactorily perform his duties and responsibilities in the manner currently being performed during the Term hereof because of a mental or physical disability, or both, that continues or is reasonably expected to continue for a period of in excess of one hundred eighty (180) days. In the event the Executive does not agree with the Board of Trustee's determination of disability or incapacity, a determination shall be made by a panel of three doctors. The first shall be chosen by ERPT, the second shall be chosen by the Executive, and the third shall be chosen by the first two doctors. Any doctor selected by a party shall not be affiliated, associated or related to the party selecting the doctor in any manner whatsoever. The opinion of a majority of the panel of doctors shall be binding on the parties hereto. Each party shall bear the costs of the doctor chosen by them and 1/2 of the costs of the third doctor.
Sample 1

Related to PERMANENT DISABILITY OR INCAPACITY

  • Permanent Disability Permanent Disability" shall mean Employee's physical or mental incapacity to perform his or her usual duties with such condition likely to remain continuously and permanently as determined by Employer.

  • Death or Permanent Disability If Grantee shall die or become permanently disabled while employed by the Company or one of its affiliates, this Option shall expire one (1) year after the date of such death or permanent disability. During such period after death, Grantee's legal representative or representatives, or the person or persons entitled to do so under Grantee's last will and testament or under applicable interstate laws, shall have the right to exercise this Option as to only the number of shares to which Grantee was entitled to purchase on the date of his/her death.

  • Termination Due to Death or Permanent Disability If the Employment Period shall be terminated due to death or Permanent Disability of the Executive, the Executive (or his estate or legal representative) shall be entitled solely to the following: (a) Base Salary through the Date of Termination (paid on the Companies’ normal payroll date), and (b) medical benefits as provided in Section 5.05 below. The Executive’s entitlements under any other benefit plan or program shall be as determined thereunder. In addition, promptly following any such termination, the Executive (or his estate or legal representative) shall be reimbursed for all Reimbursable Expenses incurred by the Executive prior to such termination in accordance with Section 4.04 and Section 13.14 herein.

  • Termination for Permanent Disability If Executive’s employment is terminated by the Company for Permanent Disability, Executive shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of termination at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time such payments are due, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, (iii) an amount equal to Executive’s Bonus for the year in which the date of termination occurs prorated for the period during such year Executive was employed prior to the date of termination, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following the date of termination, and (iv) for the period beginning on the date of termination and ending on the date which is twelve (12) full months following the date of termination (or, if earlier, the date on which Executive accepts employment with another employer that provides comparable benefits in terms of cost and scope of coverage), the Company shall pay for and provide Executive and his or her dependents with healthcare and life insurance benefits which are substantially the same as the benefits provided to Executive immediately prior to the date of termination, including, if necessary, paying the costs associated with continuation coverage pursuant to COBRA. In addition, if Executive’s employment is terminated by the Company for Permanent Disability, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of termination as to the number of shares that would vest over the twelve (12) months following Executive’s date of termination under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by Permanent Disability, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s disability shall apply.

  • 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.

  • Death or Total Disability In the event of the death of the Executive during the Term, this Agreement shall terminate as of the date of the Executive's death. In the event of the Total Disability (as that term is defined below) of the Executive for sixty (60) days in the aggregate during any consecutive nine (9) month period during the Term, the Company shall have the right to terminate this Agreement by giving the Executive thirty (30) days' prior written notice thereof, and upon the expiration of such thirty (30) day period, the Executive's employment under this Agreement shall terminate. If the Executive shall resume his duties within thirty (30) days after receipt of such a notice of termination and continue to perform such duties for four (4) consecutive weeks thereafter, this Agreement shall continue in full force and effect, without any reduction in Base Salary and other benefits, and the notice of termination shall be considered null and void and of no effect. Upon termination of this Agreement under this Paragraph 7(a), the Company shall have no further obligations or liabilities under this Agreement, except to pay to the Executive's estate or the Executive, as the case may be, (i) the portion, if any, that remains unpaid of the Base Salary for the Year in which termination occurred, but in no event less than six (6) months' Base Salary; and (ii) the amount of any expenses reimbursable in accordance with Paragraph 4 above, and any automobile allowance due under Paragraph 5 above; and (iii) any amounts due under any Company benefit, welfare or pension plan. Except as otherwise provided by their terms, any stock options not vested at the time of the termination of this Agreement under this Paragraph 7(a) shall immediately become fully vested.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

  • Disability or Death (i) The Employment Term and Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the Company if Executive becomes physically or mentally incapacitated and is therefore unable for a period of six (6) consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period to perform Executive’s duties (such incapacity is hereinafter referred to as “Disability”). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability made in writing to the Company and Executive shall be final and conclusive for all purposes of the Agreement.

  • Termination by Reason of Total Disability In the event that Executive's employment is terminated by reason of Executive's Total Disability as determined in accordance with Section 5(b), the Company shall pay the following amounts to Executive:

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