Incapacity of the Executive Sample Clauses

The "Incapacity of the Executive" clause defines the procedures and consequences if an executive becomes unable to perform their duties due to physical or mental incapacity. Typically, this clause outlines how incapacity is determined—such as requiring certification by a medical professional—and what steps the company must take, which may include temporary reassignment of duties or termination of employment. Its core function is to ensure business continuity and provide a clear process for addressing situations where an executive cannot fulfill their responsibilities, thereby minimizing operational disruption and legal uncertainty.
POPULAR SAMPLE Copied 1 times
Incapacity of the Executive. If the Executive suffers from a physical or mental condition which in the reasonable judgment of the Board prevents the Executive in whole or in part from performing the duties specified herein for a period of three (3) consecutive months, the Executive may be terminated. Although the termination may be deemed as a termination for Cause, the Executive will be entitled to receive within thirty (30) days of the Termination Date (a) a payment of twenty-six (26) weeks of Base Salary in a lump sum; and (b) payment of any vacation pay accrued but unused through the Termination Date. Notwithstanding the foregoing, the amount payable under clause (a) above will be reduced by any benefits payable under any disability plans provided by the Company. The right to the foregoing compensation due under clause (a) above is subject to the execution by the Executive or the Executive’s legal representative, on or before thirty (30) days following the Termination Date, of the Company’s severance agreement which will operate as a release of all legally waivable claims against the Company and its Affiliates, and their respective partners, officers, directors, employees, agents and representatives, and the Executive’s compliance with all of the provisions of this Agreement, including all post-employment obligations. In applying this paragraph, the Company will comply with any applicable legal requirements, including the Americans with Disabilities Act.
View SourceView Similar (5)
Incapacity of the Executive. 7.1. If the Executive is absent from work for any reason he must notify the Company Secretary of the reason for his absence as soon as possible on the first day of absence. 7.2. In all cases of absence, a self-certification form, which is available from the Company Secretary, must be completed on the Executive's return to work. For any period of incapacity due to sickness or injury which lasts for seven consecutive days or more a doctor's certificate stating the reason for absence must be obtained and supplied to the Company Secretary. Further certificates must be obtained if the absence continues for longer than the period of the original certificate. 7.3. If the Executive is absent from work for more than three days by reason of sickness or injury and satisfies the relevant requirements, he will be entitled to statutory sick pay. The qualifying days for Statutory Sick Pay purposes are Monday to Friday. 7.4. The Executive agrees to consent to medical examinations (at DBL's expense) by a doctor nominated by DBL should DBL so require. The Executive agrees that any report produced in connection with any such examination may be disclosed to DBL and DBL may discuss the contents of the report with the relevant doctor. 7.5. If the Executive is unable for health reasons to perform his duties for DBL for a continuous period of more than ninety (90) days, DBL shall have the right to terminate this Agreement on written notice to Executive, such notice to be provided on or after the expiration of the ninety (90) day period. In such event, the Executive shall be paid all compensation due under this Agreement until the date of termination provided in the notice.
View Source
Incapacity of the Executive. If the Executive shall have an Incapacity, the CEO or the Board may, by giving the Executive written notice, terminate the Executive's employment under this Agreement. A termination of the Executive's employment under this Section 5(a) shall be effective as of the date provided in such notice. In the event of termination under this Section 5(a), the Executive shall be entitled to his Accrued Benefits as of the date of termination and no other payments or benefits. The Executive shall not be eligible for a pro-rated bonus, and there shall be no acceleration of vesting of stock options.
View SourceView Similar (6)
Incapacity of the Executive. If the Executive shall, at any time, be incapacitated or prevented by physical or mental disability, whether resulting from accident, illness or otherwise, or any other circumstances beyond his control from performing his duties under this Agreement satisfactorily for a consecutive period of at least sixty (60) days, the Company may, by written notice to the Executive given at any time after such 60-day period and so long as the incapacity shall continue, discontinue payment in whole or in part of the compensation provided for herein from such date as may be specified in the notice until the incapacity of the Executive shall cease. Alternatively, the Company may terminate the Executive's employment as provided in Section 11 (Termination) hereof. Otherwise, the said payment shall, notwithstanding the incapacity of the Executive, continue to be paid to the Executive in accordance with the foregoing provisions; provided, that if the Executive shall receive any amount during the time of such incapacity by reason of any disability insurance or any other insurance plan, senior executive loss or income policy, disability policy or any other plan or scheme of a like nature funded by the Company or the Parent Group, the payment above provided may be reduced by a like amount.
View Source
Incapacity of the Executive. If the Executive shall have an Incapacity, the CEO or the Board may, by giving the Executive written notice, terminate the Executive’s employment under this Agreement. A termination of the Executive’s employment under this Section 5(a) shall be effective as of the date provided in such notice. In the event of termination under this Section 5(a), the Executive shall be entitled to his Accrued Benefits as of the date of termination and severance pay, in equal installments as set forth in Section 4(a), in an amount equal to the Base Salary that would be payable to Executive over the period commencing on the date of termination provided in such notice and ending at the expiration of [six (6)] months following the date of termination provided in such notice, assuming the Base Salary is the amount of Executive’s Base Salary at the time of termination; provided, however, that such payments shall be reduced by the aggregate amount of any payments Executive will be entitled to receive over the period from the date of the termination of his employment hereunder through the end of the Employment Period under any disability insurance policy provided to Executive by the Company, and thereafter no other payments or benefits shall be owed by the Company to the Executive. The Executive shall not be eligible for a pro-rated bonus, and there shall be no acceleration of vesting of stock options, [but, if such termination occurs between the end of a fiscal year and the payment date of any bonus due pursuant to Section 4(b) hereof, the Executive shall be paid such bonus as would otherwise be due within 90 days after the end of such fiscal year.]
View Source

Related to Incapacity of the Executive

  • Death of the Executive In the event of the Executive’s death before all payments or benefits the Executive is entitled to receive under this Agreement have been provided, the unpaid amounts will be provided to the Executive’s designated beneficiary, if living, or otherwise to the Executive’s personal representative in a single lump sum as soon as possible following the Executive’s death.

  • Incapacity If a Limited Partner is subject to Incapacity, the executor, administrator, trustee, committee, guardian, conservator or receiver of such Limited Partner’s estate shall have all the rights of a Limited Partner, but not more rights than those enjoyed by other Limited Partners, for the purpose of settling or managing the estate, and such power as the Incapacitated Limited Partner possessed to Transfer all or any part of its interest in the Partnership. The Incapacity of a Limited Partner, in and of itself, shall not dissolve or terminate the Partnership.

  • Duties of the Executive (a) Subject to the ultimate control and discretion of the Boards, the Executive shall serve in the Position and perform all duties and services commensurate with the Position. Throughout the Term of this Agreement as the same may be extended from time to time, the Executive shall perform all duties reasonably assigned or delegated to the Executive under the By-laws of the Employers or from time to time by the Boards consistent with the Position. Except for travel normally incidental and reasonably necessary to the business of the Employers and the duties of the Executive under this Agreement, the duties of the Executive shall be performed from an office location not greater than 35 miles from Marietta, Pennsylvania. (b) The Executive shall devote substantially all of the Executive’s business time and attention to the performance of the Executive’s duties under this Agreement and, during the term of the Executive’s employment under this Agreement, the Executive shall not engage in any other business enterprise that requires any significant amount of the Executive’s personal time or attention, unless granted the prior permission of the respective Boards. The foregoing provision shall not prevent the Executive’s purchase, ownership or sale of any interest in, or the Executive’s engaging in, any business that does not compete with the business of the Employers or the Executive’s involvement in charitable or community activities, provided, that the time and attention that the Executive devotes to such business and charitable or community activities does not materially interfere with the performance of the Executive’s duties under this Agreement and that a material portion of the time the Executive devotes to charitable or community activities are devoted to charitable or community activities within the Employers’ market area and further provided that such conduct complies in all material respects with applicable policies of the Employers. (c) The Employers shall accrue earned but unused vacation in accordance with the Employers’ vacation policy.

  • Termination by the Executive The Executive may terminate employment hereunder at any time for any reason, including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent (each, a “Good Reason Condition”):

  • AGREEMENTS OF THE EXECUTIVE In consideration of the compensation and benefits to be paid or provided to the Executive by the Employer under this Agreement, the Executive covenants as follows: