Common use of FOR REASON OF DISABILITY Clause in Contracts

FOR REASON OF DISABILITY. In the event of Executive's Termination of Service for reason of Disability, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 hereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, Gametech may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Gametech Long-Term Incentive Plan; (iii) Payment of any disability or other benefits, accrued and owed to Executive as of the date of the expiration of the Term (consistent with Gametech's benefit plans), by Gametech and medical insurance for (1) year after Termination of Service (consistent with Gametech's benefit plans), each in accordance with the terms and conditions of such benefits and this Agreement; (iv) Payment of a lump sum amount equal to the remaining Term of Executive's Base Salary.

Appears in 2 contracts

Sources: Employment Agreement (Novothy Gerald R), Stock Purchase Agreement (Gametech International Inc)

FOR REASON OF DISABILITY. In the event of Executive's Termination of Service for reason of Disability, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 hereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, Gametech may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Gametech Long-Term Incentive Plan; (iii) Payment of any disability or other benefits, accrued and owed to Executive as of the date of the expiration of the Term Term, (consistent with Gametech's benefit plans), by Gametech and medical insurance for one (1) year after Termination of Service (consistent with Gametech's benefit plans), each in accordance with the terms and conditions of such benefits and this Agreement; (iv) Payment of a lump sum amount equal to the remaining Term of Executive's Base Salary.

Appears in 1 contract

Sources: Stock Purchase Agreement (Gametech International Inc)