Total Disability of Employee. After the Continuous Total Permanent Disability of an Employee ("Continuous Total Permanent Disability" shall have the same meaning as set forth in any then valid contract of such employment between Employee and Corporation. If Corporation maintains no such contract at the time of the alleged disability, "Continuous Total Permanent Disability" should have the meaning of such term or similar term as defined in the most recently obtained disability insurance policy, if any, maintained by Corporation that covers Employee at the time of the alleged disability, provided, however, in the absence of such definition, "Continuous Total Permanent Disability" shall mean a mental or physical impairment or illness, which, in the judgment of the Board of Directors of Corporation, totally and presumably permanently prevents Employee from fully completing Employee's normal job responsibilities for Corporation) Corporation shall purchase and the Employee shall sell all of the Shares of Corporation owned by the disabled Employee at the Stipulated Value as provided in Section 6 of this Agreement and upon the terms and conditions provided in Section 7 of this Agreement.
Total Disability of Employee. In the event an employee becomes totally disabled, as determined by the provisions and regulations of the Social Security laws, the Company will pay the entire premium cost for the continuation of such employee's medical insurance coverage for a period of up to two (2) years or until such employee reaches age sixty-five (65), whichever occurs first.
Total Disability of Employee. Upon Employee's becoming permanently and totally disabled (as defined below) during the term of this Agreement, employment hereunder shall automatically terminate, all payments of compensation by the Company to Employee hereunder shall immediately terminate (except as to amounts already earned) and all vesting of the Employee's Common and Preferred Options and restricted stock shall immediately cease; provided, however, that upon the date of such termination of employment the Common and Preferred Options shall have their vesting accelerated to the same extent as they would have vested had Employee remained employed by the Company through the date of the next anniversary of the Employment Commencement Date, and in no event shall they be vested on the date of termination of employment, in total, as to less than 35% of the shares originally subject to such options. Moreover, the Company agrees, at its own expense, to maintain a disability policy covering all executives. Such policy will include a differentiated "top tier" coverage feature which will provide for a higher payment level for the Employee than for other executives in the Company. For the purposes of this Agreement, disability shall mean the absence of Employee from his duties with the Company on a full-time basis for a period of six months as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to Employee or his legal representative (such agreement as to acceptability not be withheld unreasonably).
Total Disability of Employee. Upon Employee's becoming permanently and totally disabled (as defined in accordance with Internal Revenue Code Section 22(e)(3) or its successor provision) during the term of this Agreement, employment hereunder shall automatically terminate, all payments of compensation by the Company to Employee hereunder shall immediately terminate (except as to amounts already earned) and all vesting of the Employee's unit options shall immediately cease.
