Common use of Incapacity or Death Clause in Contracts

Incapacity or Death. (i) If Executive becomes unable, due to physical or mental illness or injury, to perform the essential duties of his position with or without reasonable accommodation for more than twelve (12) weeks in any twelve (12) month period during this Agreement ("Incapacity"), the Company has the right to terminate Executive's employment on fifteen (15) days' written notice. In the event of termination for Incapacity, Executive will be entitled to receive: (A) payment of all earned but unpaid compensation through the effective date of termination, as specified in the notice, and (B) whatever benefits to which he may be entitled pursuant to the Company's benefit plans; and (ii) Executive's employment pursuant to this Agreement shall be immediately terminated without notice by the Company upon the death of the Executive. If Executive should die while actively employed pursuant to this Agreement, the Company will pay to his estate or designated beneficiaries within sixty (60) days: (A) payment of all earned but unpaid compensation through the date of Executive's death, and (B) whatever benefits to which he or his estate may be entitled pursuant to the Company's benefit plans.

Appears in 1 contract

Sources: Employment Agreement (Commerce Energy Group, Inc.)

Incapacity or Death. (i) If Executive becomes unable, due to physical or mental illness or injury, to perform the essential duties of his position for more than 12 weeks in any twelve month period during this Agreement with or without reasonable accommodation for more than twelve (12) weeks in any twelve (12) month period during this Agreement ("Incapacity"), the Company has the right to terminate Executive's ’s employment on fifteen (15) days' written notice. In the event of termination for Incapacity, Executive will be entitled to receive: (A) payment of all earned but unpaid compensation through the effective date of termination, as specified in the notice, and (B) whatever benefits to which he may be entitled pursuant to the Company's ’s benefit plans; and (ii) Executive's ’s employment pursuant to this Agreement shall be immediately terminated without notice by the Company upon the death of the Executive. If Executive should die while actively employed pursuant to this Agreement, the Company will pay to his estate or designated beneficiaries within sixty (60) days: (A) payment of all earned but unpaid compensation through the date of Executive's death, executive’s death and (B) whatever benefits to which he or his estate may be entitled pursuant to the Company's ’s benefit plans.

Appears in 1 contract

Sources: Employment Agreement (Commerce Energy Group Inc)

Incapacity or Death. (i) If Executive becomes unable, due to physical or mental illness or injury, to perform the essential duties of his position with or without reasonable accommodation for more than twelve (12) weeks in any twelve (12) month period during this Agreement with or without reasonable accommodation ("Incapacity"), the Company has the right to terminate Executive's ’s employment on fifteen (15) days' written notice. In the event of termination for Incapacity, Executive will be entitled to receive: (A) payment of all earned but unpaid compensation through the effective date of termination, as specified in the notice, and (B) whatever benefits to which he may be entitled pursuant to the Company's ’s benefit plans; and (ii) Executive's ’s employment pursuant to this Agreement shall be immediately terminated without notice by the Company upon the death of the Executive. If Executive should die while actively employed pursuant to this Agreement, the Company will pay to his estate or designated beneficiaries within sixty (60) days: (A) payment of all earned but unpaid compensation through the date of Executive's ’s death, and (B) whatever benefits to which he or his estate may be entitled pursuant to the Company's ’s benefit plans.

Appears in 1 contract

Sources: Employment Agreement (Commerce Energy Group Inc)