In the Event of Disability Sample Clauses

The "In the Event of Disability" clause outlines the procedures and consequences if a party to the agreement becomes disabled and is unable to fulfill their contractual obligations. Typically, this clause defines what constitutes a disability, the process for determining disability (such as requiring medical certification), and the rights and responsibilities of both parties during the period of disability. Its core function is to provide a clear framework for handling situations where disability affects performance, thereby reducing uncertainty and potential disputes.
In the Event of Disability. If the Individual becomes disabled after the -------------------------- Individual's request to participate in the Arrangement has been submitted to and accepted by the Chairman of the Board, or at any time during the 1st through 5th year, any unpaid compensation shall continue to be paid as if such disability had not occurred.
View SourceView Similar (3)
In the Event of Disability. The Company shall have the right to terminate this Agreement in the event of Executive's inability to substantially perform the essential functions of his job duties hereunder for a period of three months out of any six month period during his employment, whether such inability results from illness, accident or otherwise. In the event that the Company terminates Executive's employment during the term of this Agreement as a result of Executive's Disability, Executive shall be entitled to the bi-weekly installments of his Base Salary for a period of six months following the date of termination; Executive's Business Expense Reimbursement not paid prior to termination; and the continuation of Executive's health and welfare benefits through the end of the terms of this Agreement. In addition, the Board of Directors may, at its sole discretion, pay to Executive a pro-rata portion of any bonus Executive would have received pursuant to Section 4(f); it being understood that the Board shall have no obligation to award such bonus.
View SourceView Similar (2)
In the Event of Disability. If you are absent from work due to injury or illness, coverage under the Kraft Canada Inc. Health Care Plan is maintained for you and your eligible dependents, at no cost to you, for as long as you are receiving Kraft Canada Inc. disability benefits.
View Source
In the Event of Disability. If you are absent from work due to injury or illness, coverage under Kraft Canada Inc. Dental Plan is maintained for you and your eligible dependents, at no cost to you, for as long as you are receiving Kraft Canada Inc. disability benefits.
View Source
In the Event of Disability. If the Optionee's employment terminates by reason of permanent and total disability (as defined in Section 105(d)(4) of the Internal Revenue Code), an Option may thereafter be exercised in full but an A Option may not be exercised after the expiration of the period of twelve months from the date of such termination of employment or of the stated period of the Option, whichever period is the shorter and a B Option may not be exercised after the expiration of the period of thirty-six months from the date of such termination of employment or of the stated period of the Option, whichever period is shorter; provided, however, that if the Optionee dies within twelve months after such termination of employment, any unexercised portion of an Option, to the extent to which it was exercisable at the time of the Optionee's death may thereafter be exercised by the legal representative of the estate or by the legatee of the Optionee under a last will for a period of twelve months from the date of the Optionee's death or until the expiration of the stated period of the Option, whichever period is the shorter.
View Source

Related to In the Event of Disability

  • Termination in the Event of Death or Disability This Agreement shall terminate in the event of death or disability of Executive. (a) In the event of Executive's death, Ceridian shall pay an amount equal to 12 months of Base Salary at the rate in effect at the time of Executive's death plus the amount Executive would have received in annual incentive plan bonus for the year in which the death occurs had "target" goals been achieved. Such amount shall be paid (1) to the beneficiary or beneficiaries designated in writing to Ceridian by Executive, (2) in the absence of such designation to the surviving spouse, or (3) if there is no surviving spouse, or such surviving spouse disclaims all or any part, then the full amount, or such disclaimed portion, shall be paid to the executor, administrator or other personal representative of Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Ceridian's receipt of notice of Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.04(c) below. (b) In the event of Executive's disability, Base Salary shall be terminated as of the end of the month in which the last day of the six-month period of Executive's inability to perform his or her duties occurs. (c) In the event of termination by reason of Executive's death or disability, Ceridian shall pay to Executive any amount equal to (1) the amount Executive would have received in annual incentive plan bonus for the year in which termination occurs had "target" goals been achieved, multiplied by (2) a fraction, the numerator of which shall be the number of whole months Executive was employed in the year in which the death or disability occurred and the denominator of which is 12. The amount payable pursuant to this Section 4.04(c) shall be paid within 15 days after the date such bonus would have been paid had Executive remained employed for the full fiscal year.

  • Termination by Reason of Disability If the Optionee’s employment by the Company terminates by reason of Disability, this Option may thereafter be exercised, to the extent the Option was exercisable at the time of such termination (after giving effect to any acceleration of vesting provided for in Section 2 above), by the Optionee or personal representative or guardian of the Optionee, as applicable, for a period of three (3) years from the date of such termination of employment or until the expiration of the Term of the Option, whichever period is the shorter.

  • By Disability If Executive becomes eligible for the Company’s long term disability benefits or if, in the sole opinion of the Company, Executive is unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental impairment for more than ninety consecutive days or more than one hundred and twenty days in any twelve-month period, then, to the extent permitted by law, the Company may terminate Executive’s employment. The Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination, and thereafter all obligations of the Company under this Agreement shall cease. Nothing in this Section shall affect Executive’s rights under any disability plan in which Executive is a participant.

  • Termination by Disability In the event the employment of the Optionee is terminated by reason of Disability, the Option shall become immediately and fully exercisable as of the date the Committee determines the Optionee terminated for Disability and shall remain exercisable at any time prior to the end of the Exercise Term, or for one (1) year after the date of termination, whichever period is shorter.

  • Illness or Disability If, because of Employee’s illness or other disability for a continuous period of more than 45 days, Employee is unable to render the services required by the Company as provided herein, the Company may terminate Employee’s employment hereunder by written notice to Employee at least 30 days in advance of such termination. Upon such termination Employee shall not be entitled to any further payments of any nature, except for payment of (a) any earned but unpaid Annual Base Salary, (b) any unpaid bonuses and (c) unreimbursed business expenses (collectively, “Payable Amounts”). All Payable Amounts shall become due and payable on the date of such termination.