Common use of Partial or Total Disability Clause in Contracts

Partial or Total Disability. If in the good faith judgment of the K-Tron Board, based upon the advice of two disinterested physicians, the Employee is unable to perform his duties and responsibilities hereunder by reason of illness, injury or incapacity for six consecutive months, or for six months during any 12 month period, during which time K-Tron shall continue to compensate the Employee hereunder, the Employment Term may be terminated by K-Tron. In the event the Employee is terminated for disability as aforesaid, he shall be entitled to receive a lump sum amount equal to two years (“Disability Period”) of his then-annual Base Salary and Car Allowance plus any Unpaid Awarded Bonus, provided that the lump sum Base Salary amount shall be reduced by the present value of any payments that are expected to be made to the Employee during the Disability Period under any applicable disability benefit programs, including Social Security disability, worker’s compensation and disability retirement benefits. All amounts payable to the Employee following a termination of employment on account of disability shall be paid to the Employee within 30 days after his Termination Date (as defined in Section 9.1(b) hereof). Except as provided above and in Section 8.8 hereof, and except for any earned but unpaid Base Salary and Car Allowance and any benefits or payments (excluding any other severance benefits or payments) payable to the Employee under any applicable formal policy or plan of K-Tron which covered the Employee at the termination date of the Employment Term, K-Tron shall not have any other liability or obligation to the Employee in the event of the termination of the Employment Term due to his disability.

Partial or Total Disability. If in the good faith judgment of the K-Tron Board, based upon the advice of two disinterested physicians, the Employee is unable to perform his duties and responsibilities hereunder by reason of illness, injury or incapacity for six consecutive months, or for six months during any 12 month period, during which time K-Tron shall continue to compensate the Employee hereunder, the Employment Term may be terminated by K-Tron. In the event the Employee is terminated for disability as aforesaid, he shall be entitled to receive a lump sum amount equal to two years (“Disability Period”) of severance following the termination date of the Employment Term at his then-annual Base Salary and Car Allowance Salary, payable in equal monthly installments, plus the amount of any Unpaid Awarded Bonus, provided bonus that may have been previously awarded to him but not yet paid. All severance payments payable to the lump sum Base Salary amount Employee under this Section 8.2 shall be reduced by the present value amount of any payments that are expected to be made to due the Employee during the Disability Period for this time period under any applicable disability benefit programs, including Social Security disability, worker’s 's compensation and disability retirement benefits. All amounts payable to the Employee following a termination of employment on account of disability shall be paid to the Employee within 30 days after his Termination Date (as defined in Section 9.1(b) hereof). Except as provided above and in Section 8.8 8.6 hereof, and except for any earned but unpaid Base Salary and Car Allowance and any other benefits or payments (excluding any other severance benefits or payments) payable to the Employee under any applicable formal policy or plan of K-Tron which covered the Employee at the termination date of the Employment Term, K-Tron shall not have any other liability or obligation to the Employee in the event of the termination of the Employment Term due to his disability.