Examples of PROMISTAR in a sentence
Nothing in this Agreement shall be construed as giving Executive any claim against any specific assets of PROMISTAR or as imposing any trustee relationship upon PROMISTAR in respect of Executive.
PROMISTAR may terminate Executive's employment upon his becoming "Totally Disabled." For purposes of this Agreement, Executive shall be "Totally Disabled" if Executive is physically or mentally incapacitated so as to render Executive incapable of performing his usual and customary duties under this Agreement.
If in any judicial proceeding, a court shall hold that any of the covenants set forth in Section 9 exceed the time, geographic, or occupational limitations permitted by applicable laws, Executive and PROMISTAR agree that such provisions shall and are hereby reformed to the maximum time, geographic, or occupational limitations permitted by such laws.
PROMISTAR shall promptly reimburse Executive for the ordinary and necessary business expenses incurred by Executive in the performance of the duties under this Agreement in accordance with PROMISTAR's customary practices applicable to executives, provided that such expenses are incurred and accounted for in accordance with PROMISTAR's policy.
Subject to Section 16 below, PROMISTAR shall not be required to establish a special or separate fund or to segregate any of its assets in order to provide for the satisfaction of its obligations under this Agreement.
In the event of the death of Executive, in addition to any group term life insurance benefit generally available to its employees, PROMISTAR shall provide, either directly or indirectly through life insurance, to the Executive's beneficiaries or estate, an amount of death benefits as determined from time to time by the Board.
Executive may terminate his employment under this Agreement after providing written Notice of Termination to PROMISTAR.
PROMISTAR may terminate Executive's employment for "Cause." Such termination shall be effective as of the date specified in the written Notice of Termination provided to Executive.
Executive acknowledges that a breach of the covenants set forth in Section 9 above will cause irreparable damage to PROMISTAR with respect to which PROMISTAR's remedy at law for damages will be inadequate.
PROMISTAR hereby agrees to continue to employ Executive, and Executive hereby agrees to continue to be employed by PROMISTAR, upon the terms and subject to the conditions set forth in this Agreement.