Common use of Termination for Incapacity Clause in Contracts

Termination for Incapacity. In the event that Executive suffers an “Incapacity” (defined below) during the term of Executive’s employment hereunder as determined by the Company in its reasonable discretion, the Company may elect to terminate Executive’s employment pursuant to this Section 4.4. In such event, all of the Company’s duties and obligations under this Agreement shall cease as of the last day of Executive’s employment and the Company shall pay Executive only the following: all base salary earned through the last day of Executive’s employment and all amounts and benefits earned or incurred though Executive’s last day of employment; provided, however, that nothing contained in this Agreement shall limit Executive’s rights to payments or other benefits under any long-term disability plans of the Company in which Executive participates, if any. For the purposes of this Agreement, Executive shall be deemed to have suffered an “Incapacity” if Executive, due to any mental or physical illness, injury or limitation, has been unable to perform the essential duties and responsibilities of Executive’s position for a period of at least 180 days in any rolling 365 day period.

Appears in 2 contracts

Samples: Employment Agreement (Global Cash Access Holdings, Inc.), Employment Agreement (Global Cash Access Holdings, Inc.)

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Termination for Incapacity. In the event that Executive suffers an “Incapacity” (defined below) during the term of Executive’s employment hereunder as determined by the Company in its reasonable discretion, the Company may elect to terminate Executive’s employment pursuant to this Section 4.4. In such event, all of the Company’s duties and obligations under this Agreement shall cease as of the last day of Executive’s employment and the Company shall pay pay, less Deductions and Withholdings, Executive only the following: all base salary earned through the last day of Executive’s employment and all amounts and benefits earned or incurred though Executive’s last day of employment; provided, however, that nothing contained in this Agreement shall limit Executive’s rights to payments or other benefits under any long-term disability plans of the Company in which Executive participates, if any. For the purposes of this Agreement, Executive shall be deemed to have suffered an “Incapacity” if Executive, due to any mental or physical illness, injury injury, or limitation, has been unable to perform the essential duties and responsibilities of Executive’s position for a period of at least 180 days in any rolling 365 365-day period.

Appears in 1 contract

Samples: Employment Agreement (Global Cash Access Holdings, Inc.)

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Termination for Incapacity. In the event that Executive suffers an “Incapacity” (defined below) during the term Term or Renewal Term of Executive’s 's employment hereunder as determined by the Company in its reasonable discretion, the Company may elect to terminate Executive’s employment pursuant to this Section 4.4. In such event, all of the Company’s duties and obligations under this Agreement shall cease as of the last day of Executive’s employment and the Company shall pay Executive only the following: all base salary earned through the last day of Executive’s employment and all amounts and benefits earned or incurred though Executive’s last day of employment; provided, however, that nothing contained in this Agreement shall limit Executive’s rights to payments or other benefits under any long-term disability plans of the Company in which Executive participates, if any. For the purposes of this Agreement, Executive shall be deemed to have suffered an “Incapacity” if Executive, due to any mental or physical illness, injury or limitation, has been unable to perform the essential duties and responsibilities of Executive’s position for a period of at least 180 days in any rolling 365 day period.

Appears in 1 contract

Samples: Employment Agreement (Everi Holdings Inc.)

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