Benefits Payable on Disability Sample Clauses

Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first six (6) months of such continuous disability commencing with the first date of such disability.
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Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. If the Executive qualifies for coverage, during the term of this Agreement, the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 per month of the Executive's salary until Executive reaches the age of 65. The Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $8,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.
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Benefits Payable on Disability. If Executive becomes disabled from properly performing services under this Agreement by reason of illness or other physical or mental incapacity, Company shall continue to pay Executive’s then current base compensation for the first three (3) months of such continuous disability commencing with the first date of such disability. Notwithstanding any other provision in this paragraph number ten (10), Company payments under this clause will be limited to that amount necessary, if any, to combine with any Disability Insurance payments (regardless of source), such as to equal Executives base compensation payments stated in Paragraph number five (5).
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Benefits Payable on Disability. If the Employee becomes disabled such that he is unable to properly perform services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Employee his then current salary hereunder for the first three (3) months of such continuous disability commencing with the first date of such disability.
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Benefits Payable on Disability. In the event of Executive's Disability at any age prior to the commencement of the Annual Retirement Benefit, the Annual Retirement Benefit shall commence immediately and shall continue until the Discontinuation Date. There shall be no reduction in benefits for Executive's age at date of Disability.
Sample 1
Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. In the event the Company purchases Disability Insurance covering any of its executive officers, and if the Executive qualifies for such coverage, then during the term of this Agreement the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $7,000 per month of the Executive's salary until Executive reaches the age of 65. The Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $5,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.
Sample 1
Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. In the event the Company purchases Disability Insurance covering any of its executive officers, and if the Executive qualifies for such coverage, then during the term of this Agreement the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 per month of the Executive's salary until Executive reaches the age of 65. The Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability.
Sample 1
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Related to Benefits Payable on Disability

  • Termination on Disability If during the Term the Employee should fail to perform Employee’s duties hereunder on account of Disability, the Company shall have the right, on written Notice of Termination delivered to the Employee, to terminate the Employee’s employment under this Agreement. During the period that the Employee shall have been incapacitated due to physical or mental illness, the Employee shall continue to receive the full Base Salary provided for in Section 4.1 hereof at the rate then in effect until the Date of Termination pursuant to this Section 7.3. In the event of Employee’s termination for Disability pursuant to this Section 7.3 that constitutes Employee’s Separation from Service, then on the Date of Termination, the Company shall, in lieu of any payments under Sections 4.1 and 4.2 for the remainder of the Term, pay to the Employee the payments and other benefits applicable to termination without Cause set forth in Section 7.2 hereof, other than those related to career counseling and resume development. The Company shall also pay the Health Insurance Benefit. Notwithstanding the previous sentence, with regard to such continuation coverage, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law or potentially incurring penalties, excise taxes and fees pursuant to the Code and the Department of Treasury regulations promulgated thereunder (including, without limitation, Section 2716 of the Public Health Service Act), the Health Insurance Benefit shall terminate and the Employee shall not be eligible to receive any further benefits related to the Health Insurance Benefit other than as otherwise required by applicable law. In addition, on such termination, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become exercisable, and all RSUs and shares of the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the earlier of (a) the expiration of the term of such Options or rights or (b) the first (1st) anniversary of the Employee’s termination.

  • Benefits Payable Upon Termination Following the end of the Employment Period pursuant to Section 5(a), Executive (or, in the event of his death, his surviving spouse, if any, or if none, his estate) shall be paid the type or types of compensation determined to be payable in accordance with the following table, such payment to be made in the form specified in such table and at the time established pursuant to Section 7 hereof. Capitalized terms used in such table shall have the meanings set forth in Section 5(d) hereof.

  • Upon Disability The Company may terminate the Employee's employment upon the Employee's total disability. The Employee shall be deemed to be totally disabled if he is unable to perform his duties under this Agreement by reason of mental or physical illness or accident for a period of three consecutive months. Upon termination by reason of the Employee's disability, the Company's sole and exclusive obligation will be to pay the Employee his compensation earned through the date of termination.

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • Termination upon Disability If this Agreement is terminated by either party as a result of the Executive’s disability, as determined under Section 6.2, the Employer will pay the Executive the Executive’s Salary in periodic installments according to the Employer’s customary payroll practices until six months after the date such termination is effective.

  • Death and Disability Benefits (a) In the event the Executive’s employment with the Bank terminates during the Employment Period because of the Executive’s death, then the Bank shall pay to the Executive’s estate the benefits listed in sections 9(b)(i) and 9(b)(ii) of this Agreement.

  • Long-Term Disability The Executive shall be entitled to participate in all Long-Term and Life Time Disability plans which other senior executives of the Company or affiliates of the Company are eligible.

  • Termination on Account of Disability Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates on account of Disability, Executive shall be entitled to receive disability benefits under any disability program maintained by the Company that covers Executive, and Executive shall not receive benefits pursuant to Sections 2 and 3 hereof, except that, subject to the provisions of Section 5 hereof, the Executive shall be entitled to the following benefits provided that Executive executes and does not revoke the Release:

  • Termination Because of Disability If the Executive becomes incapable by reason of physical injury, disease, or mental illness of substantially performing his duties and responsibilities under this agreement for a continuous period of six (6) months or more or for more than one hundred eighty (180) days in the aggregate (whether or not consecutive) during any 12-month period, then at any time after the elapse of such six-month period or such 180 days, as the case may be, the Board may terminate the Executive’s employment by the Companies under this agreement. If the Executive’s employment under this agreement is terminated by the Board because of such disability on the part of the Executive, then the Executive shall be entitled to receive the following compensation and benefits from the Companies:

  • Termination by Disability If the Executive becomes Disabled prior to the expiration of the Employment Term, the Executive’s employment will terminate, and provided that such termination constitutes a Separation from Service, the Executive shall be entitled to:

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