Common use of Executive Disability Clause in Contracts

Executive Disability. If the Executive becomes disabled because of sickness, physical or mental disability, or any other reason, the Corporation and the Bank shall have the option to terminate this Agreement by giving thirty (30) days written notice of termination to the Executive, provided, however, that Executive shall continue to be eligible for benefits under the Bank’s long term disability insurance plan. Executive shall be deemed to have become “disabled” at such time as he qualifies (after expiration of any applicable waiting period) to receive benefits for partial or total disability under the Bank’s employee long term disability insurance plan. If Executive’s employment shall be terminated by reason of his disability, the Bank shall pay Executive his then current Base Salary (minus applicable taxes and withholdings) prorated through the date of termination, together with the amount of any unreimbursed business expenses as of the date of termination and, except as otherwise provided in this Section 13, the Corporation and the Bank shall have no further obligation to the Executive under this Agreement.

Executive Disability. If the Executive becomes disabled because of sickness, physical or mental disability, or any other reason, the Corporation and the Bank shall have the option to terminate this Agreement by giving thirty (30) days written notice of termination to the Executive, provided, however, that Executive shall continue to be eligible for benefits under the Bank’s long term disability insurance plan. Executive shall be deemed to have become “disabled” at such time as he qualifies (after expiration of any applicable waiting period) to receive benefits for partial or total disability under the Bank’s employee long term disability insurance plan. If Executive’s employment shall be terminated by reason of his disability, the Bank shall pay Executive his then current Base Salary (minus applicable taxes and withholdings) prorated through the date of termination, together with the amount of any unreimbursed business expenses as of the date of termination and, except as otherwise provided in this Section 13, the Corporation and the Bank shall have no further obligation to the Executive under this Agreement.

Executive Disability. If the Executive becomes disabled because of sickness, physical or mental disability, or any other reason, the Corporation and the or Bank shall have the option to terminate this Agreement by giving thirty (30) days written notice of termination to the Executive, provided, however, that Executive shall continue to be eligible for benefits under the BankEmployer’s long term disability insurance plan. Executive shall be deemed to have become “disabled” at such time as he qualifies (after expiration of any applicable waiting period) to receive benefits for partial or total disability under the Bank’s employee long term disability insurance plan. If Executive’s employment shall be terminated by reason of his disability, the Bank Employer shall pay Executive his then current Base Salary (minus applicable taxes and withholdings) prorated through the date of termination, together with the amount of any unreimbursed business expenses as of the date of termination andtermination, except as otherwise provided in this Section 13, and the Corporation and the Bank shall have no further obligation to the Executive under this Agreement.