Death; Total Disability. Executive’s employment will automatically terminate upon Executive’s death. Executive’s employment will terminate upon Executive becoming “Totally Disabled.” Executive will be considered “Totally Disabled” if Executive has been physically or mentally incapacitated so as to render Executive incapable of performing the essential functions of any substantial gainful activity that is expected to result in death or to last for a continuous period of at least 12 months. Executive’s receipt of disability benefits under the Company’s long-term disability plan or receipt of Social Security disability benefits will be deemed conclusive evidence of Total Disability for purposes of this Agreement.
Appears in 4 contracts
Samples: Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp)
