Death/Disability definition

Death/Disability. One year after termination of employment. Unexercisable options will terminate upon termination of employment, unless vesting acceleration is explicitly provided for.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Death/Disability means Employee’s: (a) death; (b) becoming incapacitated or disabled so as to entitle Employee to benefits under the Company’s long-term disability plan; or (c) becoming permanently and totally unable to perform Employee’s duties for the Company as a result of any physical or mental impairment supported by a written opinion by a physician selected by the Company.

Death/Disability. The Agreement provides no special death benefits. However, full salary (less available disability insurance benefits) is provided for up to one year of permanent disability (or, if less, the end of the remaining term of the agreement), with continued life, medical and dental insurance coverage for the remaining term (as long as continued contributions are made).

Examples of Death/Disability in a sentence

• Any Converted CSAR under this Award that is an Expiring CSAR, a Death/Disability Accelerated CSAR or an Early Retirement Accelerated CSAR will be deemed exercised and will be automatically settled as of the Expiration Date (without regard to the Settlement Limit under Section 4.1 of the Plan).

• In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive as Severance or Death/Disability Payments, and, except as provided in Section 5(a)(ii)(B) hereof, such amounts shall not be reduced whether or not the Executive obtains other employment.

• The Company will also provide any “Additional Death/Disability Benefits” provided in your Schedule.

• Notwithstanding anything to the contrary in this Agreement, no compensation and benefits, including without limitation any Severance payments or Death/Disability Payments, shall be paid to the Executive during the 6-month period following his Separation from Service to the extent that the Employer reasonably determines that paying such amounts at the time or times indicated in this Agreement would result in a prohibited distribution under Code Section 409A(a)(2)(b)(i).

• The Death/Disability Severance Payment will be paid to Executive in a lump sum on the sixtieth (60) day following the date of termination.

• Notwithstanding anything to the contrary in this Agreement, no compensation and benefits, including without limitation any Severance payments or Death/Disability Payments, shall be paid to the Executive during the 6-month period following his Separation from Service to the extent that the Employer reasonably determines that paying such amounts at the time or times indicated in this Agreement would result in a prohibited distribution under Section 409A(a)(2)(b)(i) of the Code.

• Death/Disability Payout at the end of the Performance Period, based on actual performance at end of Performance Period (not pro-rated) Retirement at age 55 or later with 10 or more years of continuous service Vesting continues subject to adherence with restrictive covenants; grants outstanding less than 12 months at time of retirement pro-rated based on portion of 12 months worked.

• A copy of such Death/Disability Notice and Authority Evidence shall be delivered simultaneously to the Company and evidence of delivery of such copy shall be delivered to the Escrow Agent.

• Furthermore, following termination of employment due to Death/Disability, by the Company with Cause, or Resignation by Employee, upon confirmation by the Company that it intends to pay Employee Severance pursuant to Section 2.3 of this Agreement and, thus, enforce the Employee’s non-compete obligations under this Section, Employee agrees that he will not compete in the seismic service industry as more specifically set forth in Exhibit A.

• Any portion of the Award that is not vested as of the earlier of (i) the end of the Performance Period, (ii) the effective time of a Change in Control (after giving effect to any vesting upon such Change in Control described in Section 3), and (iii) the Participant’s Termination of Service (after giving effect to any vesting upon a Qualifying Death/Disability Termination described in Section 4(a)), will immediately terminate and be forfeited.

More Definitions of Death/Disability

Death/Disability. One year after termination of employment. Unexercisable options will terminate upon termination of employment, unless vesting acceleration is explicitly provided for. OPTION EXERCISE PRICE Options shall be granted at an exercise price which is equal to the price per share paid by Blackstone. EXERCISABILITY OF OPTIONS --VESTING Options shall become exercisable with respect to 33 1/3% of the shares subject to such options on each September 30, 1999, 2000, 2001 respectively, if the Executive's Term of Employment continues through and includes such dates.

Death/Disability means Executive’s (i) death; or (ii) becoming incapacitated or disabled so as to entitle Executive to benefits under the Company’s long-term disability plan; or (iii) becoming permanently and totally unable to perform Executive’s duties for the Company as a result of any physical or mental impairment supported by a written opinion by a physician selected by the Company, Executive, or Executive’s heirs. Article 3:

Death/Disability means if P▇▇▇▇▇▇▇▇▇’▇ employment with the Company terminates by reason of death or a Disability Termination (as defined in the Employment Agreement).

Death/Disability. Nonvested options terminate immediately and vested options terminate upon the later of (a) the first anniversary of Optionee's date of termination, or (b) the earlier of (i) the fourth anniversary of the grant date, or (ii) the third anniversary of Executive's date of termination. Fired without Cause/Quit for Good Reason: Nonvested options terminate immediately and vested options expire upon the later of (a) 90 days following Executive's termination of employment, or (b) the earlier of (i) the fourth anniversary of the grant date, or (ii) the third anniversary of Executive's date of termination.

Death/Disability. We review the client’s cash needs at death, income needs of surviving dependents, estate planning and disability income.  ESTATE: We assist the client in assessing and developing long-term strategies, including as appropriate, living trusts, ▇▇▇▇▇, review estate tax, powers of attorney, asset protection plans, nursing homes, Medicaid and elder law. We gather required information through in-depth personal interviews. Information gathered includes the client's current financial status, tax status, future goals, returns objectives and attitudes towards risk. We carefully review documents supplied by the client, including a questionnaire completed by the client, and prepare a written report. Should the client choose to implement the recommendations contained in the plan, we suggest the client work closely with his/her attorney, accountant, insurance agent, and/or stockbroker. Implementation of financial plan recommendations is entirely at the client's discretion. We also provide general non-securities advice on topics that may include tax and budgetary planning, estate planning and business planning. Investment recommendations in financial plans may include any or all of the following:  Exchange-listed securities  Securities traded over-the-counter  Corporate debt securities (other than commercial paper)  Commercial paper  Certificates of deposit  Municipal securities, including 529 college savings plans  Variable life insurance  Variable annuities  Mutual fund shares  United States governmental securities  Options contracts on securities  Interests in partnerships investing in real estate  Interests in partnerships investing in oil and gas interests  Any investments held by the client at the inception of the advisory relationship. Typically the financial plan is presented to the client within six months of the contract date, provided that all information needed to prepare the financial plan has been promptly provided. Financial Planning recommendations are not limited to any specific product or service offered by a broker-dealer or insurance company. All recommendations are of a generic nature. In performing our services, we are not required to verify any information received from the client or from the client’s other professionals (e.g., attorney, accountant, etc.) and we will rely on such information. Investment Professionals may recommend the services of us, themself, and/or other professionals to implement the financial planning recommendat...