Common use of Disability of the Executive Clause in Contracts

Disability of the Executive. In the event that the Executive during the period while employed under this Agreement shall at any time become unable, due to ill-health, accident, injury or other disability, to carry out his duties under this Agreement with reasonable accommodation provided by the Company, the Company, upon a lump-sum payment to the Executive equal to the Executives then-current annual salary may terminate this Agreement and be relieved of all further obligations hereunder. Termination of employment under this Section 12 shall not terminate the Executive's obligations under Sections 7, 8 or 13.

Appears in 1 contract

Samples: Employment Agreement (Unigene Laboratories Inc)

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Disability of the Executive. In the event that the Executive during the this --------------------------- period while employed under this Agreement shall at any time become unable, due to ill-health, illness accident, injury or other disabilityotherwise, to carry out his duties under this Agreement with reasonable accommodation provided by for a period of at least three (3) consecutive months the Company, Company may terminate the Company, upon a lump-sum payment to employment of the Executive under this Agreement. In such event the Company shall compensate the Executive in an amount equal to the Executives then-difference between any disability insurance proceeds and Executive's then current annual monthly salary may terminate this Agreement and be relieved other benefits for a period of all further obligations hereunderone year. Termination A termination of employment under this Section 12 shall 11 will not terminate the Executive's obligations under Sections 7, 8 or 137 and 8.

Appears in 1 contract

Samples: Employment Agreement (Cortex Pharmaceuticals Inc/De/)

Disability of the Executive. In the event that the Executive Executive, during the period while which employed under this Agreement Agreement, shall at any time become unable, due to ill-healthillness, accident, injury or other disabilityotherwise, to carry out his her duties under this Agreement with reasonable accommodation provided by the Companyfor a period of at least three (3) consecutive months, the Company, upon a lump-sum payment to Company may terminate the employment of the Executive under this Agreement. In such event, the Company shall compensate the Executive in an amount equal to the Executives then-difference between any disability insurance proceeds and Executive's then current annual monthly salary may terminate this Agreement and be relieved other benefits for a period of all further obligations hereunderone year. Termination A termination of employment under this Section 12 shall 11 will not terminate the Executive's obligations under Sections 7, 8 or 137 and 8.

Appears in 1 contract

Samples: Employment Agreement (Cortex Pharmaceuticals Inc/De/)

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Disability of the Executive. In the event that the Executive during the this period while employed under this Agreement shall at any time become unable, due to ill-healthillness, accident, injury or other disabilityotherwise, to carry out his duties under this Agreement with reasonable accommodation provided by the Companyfor a period of at least three (3) consecutive months, the Company, upon a lump-sum payment to Company may terminate the employment of the Executive under this Agreement. In such event, the Company shall compensate the Executive in an amount equal to the Executives then-difference between any disability insurance proceeds and twelve(12) months of the Executive’s then current annual salary may terminate this Agreement and be relieved for a period of all further obligations hereunderone year. Termination A termination of employment under this Section 12 shall 10 will not terminate the Executive's ’s obligations under Sections 6 and 7, 8 or 13.

Appears in 1 contract

Samples: Employment Agreement (Cortex Pharmaceuticals Inc/De/)

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