Termination of Employment due to Executive’s Death or Disability Clause Samples

The 'Termination of Employment due to Executive’s Death or Disability' clause defines the conditions under which an executive’s employment ends if they pass away or become unable to perform their duties due to a significant health issue. Typically, this clause outlines the process for determining disability, such as requiring medical certification, and specifies what compensation or benefits the executive or their estate will receive upon termination. Its core function is to provide clarity and predictability for both the employer and the executive’s beneficiaries in the event of unforeseen incapacity or death, ensuring fair treatment and minimizing disputes.
Termination of Employment due to Executive’s Death or Disability. If Executive’s employment is terminated by the Company due to Executive’s death or Disability, the Company shall pay to Executive (or Executive’s estate or legal representative, if applicable) the Accrued Obligations as soon as practicable following the date of Executive’s termination of employment.
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Termination of Employment due to Executive’s Death or Disability. Executive’s employment under this Agreement shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment under this Agreement due to Executive’s Disability (as defined below). In the event of such termination, Executive (or Executive’s estate, as the case may be) will be entitled to receive, the Accrued Obligations, and any Bonus earned in respect of a prior completed year that has not yet been paid, and no other amount, except as required by applicable law. All other Company obligations to Executive pursuant to this Agreement will be automatically terminated and completely extinguished. For purposes of this Agreement “Disability” means Executive’s physical or mental illness, injury or infirmity which prevents Executive from performing Executive’s material duties for a period of (A) one-hundred and eighty (180) consecutive calendar days or (B) an aggregate of ninety (90) calendar days out of any consecutive six (6) month period.
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Termination of Employment due to Executive’s Death or Disability. Executive’s employment under this Agreement shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment under this Agreement due to Executive’s Disability (as defined below) at any time upon written notice. If Executive’s employment under this Agreement terminates due to his death or Disability, Executive or Executive’s estate, as the case may be, shall receive the Accrued Obligations. For purposes of this Agreement “Disability” shall mean Executive’s physical or mental illness, which prevents Executive from performing Executive’s material duties, with or without reasonable accommodation, for a period of (A) ninety (90) consecutive calendar days or (B) an aggregate of one hundred twenty (120) calendar days out of any consecutive six (6) month period, as permitted by law.
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Termination of Employment due to Executive’s Death or Disability. If Executive’s employment is terminated by the Company due to Executive’s death or Disability, the Company shall pay to Executive (or Executive’s estate or legal representative, if applicable) the Accrued Obligations as soon as practicable following the date of Executive’s termination of employment, but no later than the latest date permitted by law. The Company shall use commercially reasonable efforts to obtain an insurance policy for the benefit of Executive (or Executive’s estate or legal representative, if applicable) payable in the event of Executive’s termination by the Company due to Executive’s death or Disability. Such policy shall, to extent commercially reasonable, provide for a benefit of no more than $1,000,000 in the event of Executive’s termination due to Executive’s death and of no more than two hundred percent (200%) of Executive’s Base Salary as of the date hereof in the event of Executive’s termination due to Executive’s Disability; provided, however, that in no event shall the Company be required to pay annual premiums in excess of $7,500 to obtain such policy. For the avoidance of doubt, the amount of such premiums shall be treated as a taxable fringe-benefit and thus compensatory to Executive, except to the extent such premiums are entitled to be treated as a tax-free fringe benefit under applicable law and in accordance with the Company’s applicable policies and procedures.
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Related to Termination of Employment due to Executive’s Death or Disability

  • Termination for Death or Disability If the Employee's employment is terminated by death or because of disability pursuant to Section 4.3, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, all sums which would otherwise be payable to the Employee under Section 3 up to the end of the month in which the termination of his employment because of death or disability occurs.

  • Death or Disability The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative.