Grouped Into 13 Collections of Similar Clauses From Business Contracts
This page contains Disability clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Disability. If the Executive incurs a Disability during the Term, in accordance with applicable law, the Company may terminate the Executive's employment on or after the date of Disability. If the Executive's employment terminates on account of Disability, the Executive shall be entitled to receive any Accrued Obligations. For purposes of this Agreement, the term "Disability" shall mean the Executive is eligible to receive long-term disability benefits under the Company's long-term disability plan.
Disability. If the Executive incurs a Disability during the Term, in accordance with applicable law, the Company may terminate the Executive's employment on or after the date of Disability. If the Executive's employment terminates on account of Disability, the Executive shall be entitled to receive any the Accrued Obligations. Otherwise, the Company shall have no further liability or obligation under this Agreement to the Executive. For purposes of this Agreement, the term "Disability" shall mean a physical... or mental impairment of sufficient severity that the Executive is both eligible to receive long-term disability for and in receipt of benefits under the Company's long-term disability plan. program maintained by the Company. 5 Execution Copy 10. Death. If the Executive dies during the Term, the Executive's employment shall terminate on the date of death, the Executive's executor, legal representative, administrator or designated beneficiary, as applicable, shall receive the Accrued Obligations. Otherwise, the Company shall have no further liability or obligation under this Agreement to the Executive's executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through the Executive. View More
Disability. If the Executive incurs a Disability during the Term, in accordance with applicable law, the Company may terminate the Executive's employment on or after the date of Disability. If the Executive's employment terminates on account of Disability, the Executive shall be entitled to receive any Accrued Obligations. For purposes of this Agreement, the term "Disability" shall mean the Executive is eligible to receive long-term disability benefits under the Company's long-term disability plan. plan; pr...ovided that if the Executive is not covered under the Company's long-term disability plan, "Disability" shall mean the Executive is unable to perform the essential functions of the job, with or without reasonable accommodation, by reason of any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than six months, subject to applicable law. 5 11. Death. If the Executive dies during the Term, the Executive's employment shall terminate on the date of death and the Company shall pay any Accrued Obligations to the Executive's executor, legal representative, administrator or designated beneficiary, as applicable. Otherwise, the Company shall have no further liability or obligation under this Agreement to the Executive's executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through the Executive. View More
Disability. If the Executive incurs a Disability during the Term, in accordance with applicable law, the Company Employer may terminate the Executive's employment on or after the date of Disability. If the Executive's employment terminates on account of Disability, the Executive shall be entitled to receive any Accrued Obligations. For the avoidance of doubt, in the event of such termination, the Executive shall not be eligible to receive any payments or benefits pursuant to Section 6. For purposes of this ...Agreement, the term "Disability" shall mean the Executive is eligible to receive long-term disability benefits under the Company's Employer's long-term disability plan. plan or, if the Employer does not have a long-term disability plan, the Executive is unable to perform the essential functions of his job, with or without any reasonable accommodation required by applicable law, for 120 days in any 180-day period. View More
Disability. If, without having fully exercised this Option, you have a Termination of Service due to Disability, then any Shares Granted under the Option that are not yet vested at that time shall thereupon become vested and (a) you may exercise this Option for the full number of Shares Granted (less any shares for which this Option was previously exercised), but (b) your right to exercise this Option shall terminate upon the earlier of the Expiration Date or a date which is one (1) year following the date ...of your Termination of Service.View More
Disability. If, without having fully exercised this the Option, you have a Termination of Service due to Disability, disability or injury (as evidenced to the satisfaction of the Committee or its delegate), then any Shares Granted under the Option that are not yet vested at that time shall thereupon become vested and (a) you may exercise this the Option for the full number of Shares Granted (less any shares for which this the Option was previously exercised), but (b) your right to exercise this the Option s...hall terminate upon the earlier of the Expiration Date or a date which is one (1) year following the date of your Termination of Service. View More
Disability. If, without having fully exercised this Option, you have a Termination of Service due to Disability, whether before or after the Vesting Date, then any Shares Granted under the Option that are not yet vested at that time shall thereupon become vested and (a) you may exercise this Option for the full number of Shares Granted (less any shares for which this Option was previously exercised), but (b) your right to exercise this Option shall terminate upon the earlier of the Expiration Date or a date... which is one (1) year following the date of your Termination of Service. (O2015) 4. Death. If, without having fully exercised this stock option, you have a Termination of Service due to your death, whether before or after the Vesting Date, then this Option shall be fully vested and (a) it may be exercised by the executor or administrator of your estate or by such person or persons who shall have acquired your rights hereunder by bequest or inheritance or by designation as your beneficiary for the full number of Shares Granted (less any shares for which this Option was previously exercised), but (b), such person's right to exercise this Option shall terminate upon the earlier of the Expiration Date or a date which is one (1) year after the date of your death. View More
Disability. If Participant is Disabled prior to the Vesting Date, the RSUs shall automatically vest on the date Participant is Disabled. For purposes of this subsection, Participant shall be "Disabled" if he has been unable, for a period of twelve consecutive months, to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment and has been receiving income replacement benefits for a period of twelve consecutive months under the Company's Long-Term Disab...ility Program. The date that Participant is Disabled for purposes of this Agreement is the twelve-month anniversary of the date Participant commences receiving such benefits under the Company's Long-Term Disability Program. If Participant ceases to receive benefits under the Company's Long-Term Disability Program prior to becoming Disabled and immediately returns to active Employment, the RSUs will continue to vest in accordance with Section 2 of this Agreement. 5. Death. If Participant's Employment is terminated due to his or her death prior to the Vesting Date, the RSUs shall automatically vest in full on the date the Participant dies.View More
Disability. If In the event Participant is Disabled prior to the Vesting Date, Participant shall immediately vest in a pro-rata portion of the RSUs PBRSUs as determined below and the remaining unvested PBRSUs shall be automatically forfeited and returned to the Company for no 2 consideration. For purposes of this subsection, the pro-rata portion of the PBRSUs that will vest on shall be determined by dividing the number of days since the Grant Date through the date Participant is Disabled. Disabled by 1,096 ...and applying this percentage to the number of PBRSUs earned, if any, as determined in accordance with Schedule A. Any fractional Shares shall be rounded up such that only whole Shares are issued. For purposes of this subsection, Participant shall be "Disabled" if he or she has been unable, for a period of twelve consecutive months, to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment and has been receiving income replacement benefits for a period of twelve consecutive months under the Company's Long-Term Disability Program. The date that Participant is Disabled for purposes of this Agreement is the twelve-month anniversary of the date Participant commences receiving such benefits under the Company's Long-Term Disability Program. If Participant ceases to receive benefits under the Company's Long-Term Disability Program prior to becoming Disabled and immediately returns to active Employment, the RSUs PBRSUs will continue to vest in accordance with Section 2 of this Agreement. 5. Death. If Participant's Employment is terminated due to his or her death prior to the Vesting Date, the RSUs shall automatically vest in full on the date the Participant dies.View More
Disability. If the Optionee becomes disabled (as determined in accordance with Section 22(e)(3) of the Code) during his or her employment and, prior to the Expiration Date, the Optionee's employment is terminated as a consequence of such total disability, then the Option may be exercised by the Optionee or by the Optionee's legal representative, to the extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date of such termination of employment at any time wi...thin twelve months after the Optionee's total disability, but in no event after the Expiration Date. Any part of the Option that was not exercisable immediately before the Optionee's termination of employment shall terminate at that time.View More
Disability. If the Optionee becomes disabled (as determined in accordance with Section section 22(e)(3) of the Code) during the period of his or her employment service and, prior to the Expiration Date, the Optionee's employment is services are terminated as a consequence of such total disability, then the this Option may be exercised by the Optionee or by the Optionee's legal representative, to the extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date ...of such termination of employment services, at any time within twelve months after prior to the Optionee's total disability, but in no event after earlier of (i) the Expiration Date. Date or (ii) one year after such termination of services. Any part of the Option that was not exercisable immediately before the Optionee's termination of employment services shall terminate at that time. View More
Disability. If the Optionee becomes disabled (as determined in accordance with Section 22(e)(3) of the Code) incurs a Disability during his or her employment and, prior to the Expiration Date, the Optionee's employment is terminated as a consequence of such total disability, then the Disability, this Option may be exercised by the Optionee or by the Optionee's legal representative, exercised, to the extent of the number of Common Shares shares with respect to which the Optionee could have exercised it on th...e date of such termination termination, or to any greater extent permitted by the Committee, in its discretion, by the Optionee (or in the event of employment the Optionee's legal Disability, by the Optionee's legal representative) at any time within prior to the earlier of (i) the Expiration Date, or (ii) twelve (12) months after the Optionee's total disability, but in no event after the Expiration Date. Any part of the Option that was not exercisable immediately before the Optionee's such termination of employment shall terminate at that time. employment. View More
Disability. To the extent permitted by law, the following provisions shall apply. Upon the "disability" of Employee, this Agreement may be terminated by action of the Board upon 30 days prior written notice (the "Disability Notice"), such termination to become effective only if such disability continues after the thirty (30) day period. If, prior to the effective time of the Disability Notice, Employee shall recover from such disability and return to the full-time active discharge of his duties, then the Di...sability Notice shall be of no further force and effect and Employee's employment shall continue as if the same had been uninterrupted. If Employee shall not so recover from his disability and return to his duties, then his services shall terminate at the effective time of the Disability Notice with the same force and effect as if that date had been the end of the Term originally provided for hereunder. Such termination shall not prejudice any benefits payable to Employee that are fully vested as of the date of such termination. Prior to the effective time of the Disability Notice, Employee shall continue to earn all compensation to which Employee would have been entitled as if he had not been disabled, such compensation to be paid at the time, in the amounts, and in the manner provided in Section 3(a). A "disability" of Employee shall be deemed to exist at all times that Employee is considered by the insurance company which has issued any policy of long-term disability insurance owned by Employer or for which premiums are paid by Employer (the "Employer Policy") to be totally disabled under the terms of such policy.View More
Disability. To the extent permitted by law, the following provisions shall apply. Upon the "disability" of Employee, this Agreement and the employment relationship hereunder may be terminated by action of the Board upon 30 thirty (30) days prior written notice (the "Disability Notice"), such termination to become effective only if such disability continues after the thirty (30) day period. 4 continues. If, prior to the effective time of the Disability Notice, Employee shall recover from such disability and ...return to the full-time active discharge of his duties, then the Disability Notice shall be of no further force and effect and Employee's employment shall continue as if the same had been uninterrupted. If Employee shall not so recover from his disability and return to his duties, then his services employment with Employer and this Agreement shall terminate at the effective time of the Disability Notice with the same force and effect as if that date had been the end of the Term originally provided for hereunder. Notice. Such termination shall not prejudice any benefits payable to Employee that are fully vested as of the date of such termination. Prior to the effective time of the Disability Notice, Employee shall continue to earn all compensation to which Employee would have been entitled as if he had not been disabled, such compensation to be paid at the time, in the amounts, and in the manner provided in Section 3(a). A "disability" of Employee shall be deemed to exist at all times that Employee is considered by the insurance company insurer which has issued any policy of long-term disability insurance owned by Employer or for which premiums are paid by Employer (the "Employer Policy") to be totally disabled under the terms of such policy. In the event there is no Employer Policy, "disability" shall mean the inability, by reason of physical or mental incapacity, impairment or infirmity, of Employee to perform, upon request, his regular duties for six (6) consecutive months and the determination of the existence or nonexistence of disability shall be made by a medical doctor who is licensed to practice medicine in the State of North Carolina mutually acceptable to the Board and to Employee (or, if Employee is incapacitated, his spouse). View More
Disability. It is understood and agreed that while the Employee is entitled to receive payments under the disability insurance plan for employees of the Company, the Employee will not be entitled during such time, to receive the salary set out in Section 2. The Employee's full compensation will be reinstated upon the Employee's return to work on a full-time basis.
Disability. It is understood and agreed that while the Employee is entitled to receive payments under the any disability insurance plan for employees of the Company, Company (when established by the Company), then the Employee will not be entitled during such time, to receive the salary set out in Section 2 (Salary & Benefits). The Employee's full compensation will be reinstated upon the Employee's return to work on a full-time basis.
Disability. If during the term of CEO employment Mr. Miller shall become physically or mentally disabled, whether totally or partially, so that he is prevented from performing his usual duties for a period of six (6) consecutive months, or for shorter periods aggregating six months in any twelve-month period, the Company shall, nevertheless, continue to pay Mr. Miller his full compensation, when otherwise due, as provided in this Agreement through the last day of the sixth consecutive month of disability or... the date on which the shorter periods of disability shall have equaled a total of six (6) months in any twelve-month period. The Company may, by action of all but two of the members of the Board, at any time on or after such day, by written notice to Mr. Miller (the "Disability Notice"), provided Mr. Miller has not resumed his usual duties prior to the date of the Disability Notice, terminate (as of the first day of the month following the date of the Disability Notice, provided that Mr. Miller shall also be paid a pro rata portion of the Annual Bonus which would otherwise have been payable for such fiscal year in which the Disability Notice is given) the compensation otherwise payable to Mr. Miller during the term of CEO employment and pay to Mr. Miller the Disability Payment. The Disability Payment shall mean the payment by the Company to Mr. Miller of a sum equal to one-half of Mr. Miller's base salary paid under Section 4 hereof at the date of the Disability Notice, payable in twelve equal monthly installments beginning during the calendar month after the date of the Disability Notice. The amount of the pro rata Annual Bonus will be payable to Mr. Miller in cash when the Annual Bonus for the year of termination would otherwise have been paid if Mr. Miller's employment had not terminated.View More
Disability. If during the term of CEO Executive Chairman employment Mr. Miller shall become physically or mentally disabled, whether totally or partially, so that he is prevented from performing his usual duties for a period of six (6) consecutive months, or for shorter periods aggregating six months in any twelve-month period, the Company shall, nevertheless, continue to pay Mr. Miller his full compensation, when otherwise due, as provided in this Agreement through the last day of the sixth consecutive mon...th of disability or the date on which the shorter periods of disability shall have equaled a total of six (6) months in any twelve-month period. The Company may, by action of all but two of the members of the Board, Company's Board of Directors, at any time on or after such day, by written notice to Mr. Miller (the "Disability Notice"), provided Mr. Miller has not resumed his usual duties prior to the date of the Disability Notice, terminate (as of the first day of the month following the date of the Disability Notice, provided that Mr. Miller shall also be paid a pro rata portion of the Annual Bonus which would otherwise have been payable for such fiscal year in which the Disability Notice is given) Notice) the compensation otherwise payable to Mr. Miller during the term of CEO Executive Chairman employment and pay to Mr. Miller the Disability Payment. The Disability Payment shall mean the payment by the Company to Mr. Miller of a sum equal to one-half of Mr. Miller's base salary paid under Section 4 hereof at the date of the Disability Notice, payable in twelve equal monthly installments beginning during the calendar month on or as soon as practicable (but not more than 30 days) after the date of the Disability Notice. The amount of the pro rata Annual Bonus will be payable to Mr. Miller in cash when the Annual Bonus for the year of termination would otherwise have been paid if Mr. Miller's employment had not terminated.View More
Disability. 11.1 Termination Due to Disability. The Bank may terminate the Executive's employment upon a determination, by vote of a majority of the members of the Board of Directors of the Bank, acting in reliance on the written advice of a medical professional acceptable to the Board of Directors, that the Executive has become disabled. For purposes of this Agreement, disability means any medically determinable physical or mental impairment that can be expected to result in death or can be expected to las...t for a continuous period of not less than twelve (12) months that: (i) renders the Executive unable to engage in any substantial gainful activity, or (ii) causes the Executive to receive income replacement benefits for a period of not less than three (3) months under an accident and health plan of the Bank covering the Executive. In such event, the Bank shall pay and deliver to the Executive an amount equal to the sum of (i) the base salary or other compensation earned through the date of termination, plus (ii) any other compensation and benefits as may be provided in accordance with the terms and provisions of any applicable plans and programs of the Bank. The Executive shall be entitled to continuation of the Executive's medical benefits at the level in effect on, and at the same out-of-pocket cost to the Executive as of, the date of termination for the one-year period following termination of the Executive's employment due to disability pursuant to this section 11. 11.2 Effective Date of Termination. A termination of employment due to disability under this Section 11 shall be effected by notice of termination given to the Executive by the Bank and shall take effect on the later of the effective date of termination specified in the notice or the date on which the notice of termination is deemed given to the Executive.View More
Disability. 11.1 Termination Due to Disability. The Bank may terminate the Executive's employment upon a determination, by vote of a majority of the members of the Board of Directors of the Bank, acting in reliance on the written advice of a medical professional acceptable to the Board of Directors, that the Executive has become disabled. For purposes of this Agreement, disability means any medically determinable physical or mental impairment that can be expected to result in death or can be expected to las...t for a continuous period of not less than twelve (12) months that: (i) renders the Executive unable to engage in any substantial gainful activity, or (ii) causes the Executive 6 to receive income replacement benefits for a period of not less than three (3) months under an accident and health plan of the Bank covering the Executive. In such event, the event: (a) The Bank shall pay and deliver to the Executive an amount equal to the sum of (i) the base salary or other compensation earned through the date of termination, plus (ii) any other compensation and benefits as may be provided in accordance with the terms and provisions of any applicable plans and programs of the Bank. (b) In addition to the amounts payable pursuant to Section 11.1(a), the Bank shall continue to pay the Executive his base salary, at the annual rate in effect for him immediately prior to the termination of his employment, during the "Initial Continuation Period." The "Initial Continuation Period" shall commence on the date of termination of employment pursuant to Section 11.1 and shall end on the earliest of: (i) the expiration of one hundred and eighty (180) days after the date of termination of his employment; (ii) the date on which long-term disability insurance benefits are first payable to him under any long-term disability insurance plan ("LTD Plan") covering employees of the Bank (the "LTD Eligibility Date"); (iii) the date of his death; and (iv) the Expiration Date. If the end of the Initial Continuation Period is neither the LTD Eligibility Date nor the date of his death, the Bank shall continue to pay the Executive his base salary, at an annual rate equal to sixty percent (60%) of the annual rate in effect for him immediately prior to the termination of his employment (the "60% Rate"), during an additional period ending on the earliest of the LTD Eligibility Date, the date of his death and the Expiration Date. (c) The Executive shall be entitled to continuation of the Executive's medical benefits at the level in effect on, and at the same out-of-pocket cost to the Executive as of, the date of termination for the one-year period following termination of the Executive's employment due to disability pursuant to this section Section 11. 11.2 Effective Date of Termination. A termination of employment due to disability under this Section 11 shall be effected by notice of termination given to the Executive by the Bank and shall take effect on the later of the effective date of termination specified in the notice or the date on which the notice of termination is deemed given to the Executive. View More
Disability. 6.1 Should the Contract CFO, by reason of illness or incapacity, be unable to perform the Services for a period of up to and including a maximum of a thirty (30) day period, the compensation payable to him for and during such period under this Agreement shall be unabated. If such illness or incapacity continues for more than thirty (30) days, the Board of Directors shall have the right to determine the incapacity of the Contract CFO for the purposes of this provision, and any such determination ...shall be evidenced by its written opinion delivered to the Contract CFO. Such written opinion shall specify with particularity the reasons supporting such opinion and be manually signed by at least a majority of the Board. 6.2 Upon delivery of such written opinion to the Contract CFO, the Contract CFO's compensation thereafter shall be reduced to zero. Upon the Contract CFO return to providing Services and the approval of the Board of Directors, the Contract CFO shall be entitled to receive full compensation 3 upon the regular discharge of his full duties hereunder. Should the Contract CFO be absent from providing the Services for whatever cause for a continuous period of more than thirty (30) days, the Company may terminate this Agreement and all obligations of the Company hereunder shall cease upon such termination.View More
Disability. 6.1 (a) Should the Contract CFO, by reason of illness or incapacity, be unable to perform the Services his job for a period of up to and including a maximum of a thirty (30) day period, 1 month, the compensation payable to him for and during such period under this Agreement shall be unabated. If such illness or incapacity continues for more than thirty (30) days, the The Board of Directors shall have the right to determine the incapacity of the Contract CFO for the purposes of this provision, an...d any such determination shall be evidenced by its written opinion delivered to the Contract CFO. Such written opinion shall specify with particularity the reasons supporting such opinion and be manually signed by at least a majority of the Board. 6.2 Upon delivery of such written opinion to the Contract CFO, the (b) The Contract CFO's compensation thereafter shall be reduced to zero. Upon the Contract CFO return to providing Services and the approval of the Board of Directors, the The Contract CFO shall be entitled to receive full compensation 3 upon the his return to services and regular discharge of his full duties hereunder. Should the Contract CFO be absent from providing the Services his services for whatever cause for a continuous period of more than thirty (30) 30-calendar days, the Company may terminate this Agreement and all obligations of the Company hereunder shall cease upon such termination. View More
Disability. If, during the term of this Agreement, Employee becomes disabled such that he is not able to effectively discharge his duties under this Agreement, with or without reasonable accommodation, for a period of six (6) continuous months, the Company's obligations under this Agreement shall cease, except that Employee may participate in any Company-provided group disability benefits in accordance with the terms of those plans. CONFIDENTIAL 9. Consequences of Termination. (a) Compensation. (i) In the e...vent that Iradimed terminates Employee's employment hereunder Without Cause or Employee resigns from Iradimed with Good Reason, then Iradimed shall pay to Employee the full amount of any earned but unpaid Base Salary through the date of termination, his accrued and unused paid time off (PTO) as of the last day worked, his approved business expenses, the full amount of any unpaid cash bonus awarded for any fiscal years prior to the date of termination and an amount equal to six (6) months Base Salary. Such payment shall be made within fifteen (15) days of the effective date of such termination. (ii) In the event that Iradimed terminates Employee's employment hereunder for Cause or Employee resigns without Good Reason, Iradimed shall pay Employee his earned and unpaid Base Salary and his accrued and unused vacation leave as of the last day worked, and approved business expenses and Iradimed shall have no obligation to make any further payments to or to provide any further benefits hereunder to Employee. Such payment shall be made within fifteen (15) days of the effective date of resignation or termination.View More
Disability. If, during the term of this Agreement, Employee Executive becomes disabled such that he is not able to effectively discharge his duties under this Agreement, with or without reasonable accommodation, for a period of six (6) continuous months, the Company's Iradimed's obligations under this Agreement shall cease, except that Employee Executive may participate in any Company-provided Iradimed-provided group disability benefits in accordance with the terms of those plans. CONFIDENTIAL 9. 4 10. Cons...equences of Termination. (a) Compensation. Termination Compensation (i) In the event that Iradimed terminates Employee's Executive's employment hereunder Without Cause or Employee Executive resigns from Iradimed with Good Reason, then Iradimed shall pay to Employee Executive the full amount of any earned but unpaid Base Salary through the date of termination, his accrued and unused paid time off (PTO) vacation leave as of the last day worked, his approved business expenses, the full amount of any unpaid cash bonus awarded for any fiscal years prior to the date of termination and an amount equal to six (6) months Base Salary. Such payment shall be made within fifteen (15) days of the effective date of such termination. (ii) In the event that Iradimed terminates Employee's Executive's employment hereunder for Cause or Employee Executive resigns without Good Reason, Iradimed shall pay Employee Executive his earned and unpaid Base Salary and his accrued and unused vacation leave as of the last day worked, and approved business expenses and Iradimed shall have no obligation to make any further payments to or to provide any further benefits hereunder to Employee. Executive. Such payment shall be made within fifteen (15) days of the effective date of resignation or termination. (b) Change of Control Compensation: Should a Change of Control event as in 8(c) above occur resulting in Executive resigning for reasons as per 8(b) above, Iradimed shall pay Executive the full amount of any earned but unpaid Base Salary through the date of termination, his accrued but unused vacation leave as of the last day worked, his approved business expenses, the full amount of any unpaid cash bonus awarded for any fiscal years prior to the resignation plus an amount equal to his then current annual salary, but in no case less than $200,000. View More
