Permanent Disability definition
Examples of Permanent Disability in a sentence
Executive’s employment with the Company and the Agreement Term will end on the earliest to occur of (i) Executive’s death or Permanent Disability, (ii) the date of Executive’s termination due to resignation at any time with or without Good Reason after the required notice period, or (iii) the date of Executive’s termination by the Company at any time with or without Cause after the required notice period, if any.
If, during the term of this Agreement, the Company terminates your Employment for any reason other than Cause, death or Permanent Disability, then, in addition to the Accrued Obligations, the Company shall pay you severance pay at a rate equal to your Base Salary in effect at the time of termination of your Employment for a period of 3 months following the termination of your Employment (the “Continuation Period”).
If Executive’s employment is terminated due to Executive’s death or Permanent Disability, then Executive will be entitled to the Accrued Benefits.