Payments in the Event of Disability Prior to Retirement Sample Clauses

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, the Executive shall: (i) continue to be treated during such period of Disability as being gainfully employed by the Employer; and (ii) be entitled to be paid the Annual Benefit in One Hundred Fifty-Six (156) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the earlier of (1) the month in which the Executive attains sixty-five (65) years of age; or (2) the date upon which the Executive is no longer entitled to receive Disability benefits under the Executive's principal Disability insurance policy and does not, at such time, return to and thereafter fulfill the responsibilities associated with the employment position held with the Employer prior to becoming Disabled by reason of such Disability continuing. Notwithstanding the foregoing, in the event Executive should die while actively or gainfully employed by the Employer at any time after the Effective Date of this Agreement and prior to Retirement, the payments provided in Paragraph 4.1 shall be paid in lieu of the payments provided in this Paragraph 4.2, provided that Executive or his legal representative shall have not elected to take the benefits provided by Paragraph 5 and payments provided in Paragraph 4.2 have not commenced. 5. PAYMENTS IN THE EVENT EMPLOYMENT IS TERMINATED OTHER THAN BY DEATH, DISABILITY, OR RETIREMENT. As indicated in Paragraph 2 above, the Employer reserves the right to terminate the Executive's employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive's Retirement. In the event that the employment of the Executive shall be terminated, for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability except as provided in Paragraph 4.2, (ii) death, (iii) termination for cause as defined in Executive's current or most recent employment agreement or (iv) Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, for a period of thirteen (13) years in One Hundred Fifty-Six (156) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month Following the month in which the Executive terminates employment and attains sixty-five (65) year...

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Annual Benefit, as defined above, in equal monthly installments, for a period of fifteen (15) years (One Hundred Eighty (180) months), with each installment to be paid on the first day of each month, beginning with the month following the earlier of (1) the month in which the Executive attains sixty-two (62) years of age; or (2) the date upon which the Executive is no longer entitled to receive Disability benefits under the Executive's principal Disability insurance policy and is, at such time, unable to return to and thereafter fulfil the responsibilities associated with the employment position held with the Employer prior to becoming Disabled by reason of such Disability continuing. Notwithstanding the foregoing, if the Executive chooses to elect the Retirement payout option set forth in Paragraph 3 hereof, the Executive may waive the payout provisions set forth in this subparagraph 4.2 and in lieu thereof receive the Annual Benefit which the Executive would be entitled to receive under the terms of Paragraph 3.

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, the Executive shall: (i) continue to be treated during such period of Disability as being gainfully employed by the Employer but shall not add applicable years of service for the purpose of determining the Annual Benefit; and (ii) subject to any applicable deferral period as set forth in Section 11.14 herein, be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of disability, for fifteen (15) years in one hundred eighty (180) equal monthly installments with each installment to be paid on the first day of each month, beginning with the month following the earlier of (1) the month in which the Executive attains sixty-five (65) years of age; or (2) the date upon which the Executive is no longer entitled to receive Disability benefits under the Executive’s principal Disability insurance policy and does not, at such time, return to and thereafter fulfill the responsibilities associated with the employment position held with the Employer prior to becoming Disabled by reason of such Disability continuing. Notwithstanding the foregoing, in the event the Executive should die while actively or gainfully employed by the Employer at any time after the Effective Date and prior to (i) Retirement and (ii) the commencement of any payments under this Section 4.2, the payments provided in Section 4.1 herein shall be paid in lieu of the payments provided in this Section 4.2.

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable (i) for the period designated in Schedule "D" in the case of the balance in the Benefit Account and (ii) until the Executive's death in the case of the Index Benefit defined in Schedule "B".

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, and provided an event triggering Schedule B Annuity payments has not yet occurred, the Executive (or the Executive's designated beneficiary, or the Executive's estate if no designated beneficiary has been selected, upon the Executive's death) shall be entitled to the Schedule B Annuity, as defined above, with payments thereunder to begin in the month following the month in which the Executive attains sixty-five (65) years of age or, if earlier, the month following the month in which the Executive dies.

Payments in the Event of Disability Prior to Retirement. In the event the Director becomes Disabled at any time after the Effective Date of this Agreement, but prior to Retirement, the Director shall be entitled to the Applicable Percentage of the Director Benefits, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Director becomes Disabled, payable (i) for the period designated in Schedule “D” in the case of the balance in the Benefit Account and (ii) until the Director’s death in the case of the Index Benefit defined in Schedule “B”.

Payments in the Event of Disability Prior to Retirement. In the ------------------------------------------------------- event the Employee becomes Disabled at any time after the Effective Date of this Agreement but prior to Retirement, the Employee shall be entitled to be paid the Applicable Percentage of the Employee Benefits specified in Schedule "B", payable in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Employee becomes Disabled (or on such later date as may be mutually agreed upon by the Employee and the Employer not less than fifteen (15) days prior to such commencement date) (i) for the period designated in Schedule "F", in the case of the balance in the Benefit Account and (ii) until the Employee's death, in the case of the Index Benefit defined in Schedule "B".

Payments in the Event of Disability Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, the Executive shall: (i) continue to be treated during such period of Disability as being gainfully employed by the Employer, but shall not add applicable years of service for the purpose of determining the Annual Benefit; and (ii) be entitled to be paid the Annual Benefit for fifteen (15) years, as determined by the applicable years of service at the time of Disability in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the earlier of (1) the month in which the Executive attains sixty-five (65) years of age; or (2) the date upon which the Executive is no longer entitled to receive disability benefits under the Executive’s principal disability insurance policy. Upon Executive’s death, no further payments will be made under this Article 4.02. XXXXX XXXXXXXXXX & LONG PC

Payments in the Event of Disability Prior to Retirement. (CONTINUED) with the Employer prior to becoming Disabled by reason of such Disability continuing. Notwithstanding the foregoing, in the event Executive should die while actively or gainfully employed by the Employer at any time after the Effective Date of this Agreement and prior to attaining the age of sixty-five (65) years of age, the payments provided in Paragraph 4.1 shall be paid in lieu of the payments provided in this Paragraph 4.2, provided that Executive or his legal representative shall have not elected to take the benefits provided by Paragraph 5. 5. PAYMENTS IN THE EVENT EMPLOYMENT IS TERMINATED OTHER THAN BY DEATH, DISABILITY, OR RETIREMENT. As indicated in Paragraph 2 above, the Employer reserves the right to terminate the Executive's employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive's Retirement. In the event that the employment of the Executive shall be terminated, for any reason, including voluntary termination by the Executive, but other than by reason of Disability except as provided in Paragraph 4.2, death or Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit for a period of fifteen (15) years, as determined by the applicable years of service at the time of the Executive's termination of employment with the Employer, in One Hundred Eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive attains sixty-five (65) years of age or, if earlier, beginning with the month following the Executive's death.

Payments in the Event of Disability Prior to Retirement. In the event the Officer becomes Disabled while actively employed by the Employer at any time after the date of this Agreement but prior to Retirement, the Officer shall continue to be treated during such period of Disability as being actively and gainfully employed by the Employer but shall not add applicable years of service for the purpose of determining the Annual Benefit, and, subject to any applicable deferral period as set forth in Section 11.14 herein, the Officer shall be entitled to either of the following: (i) a lump sum payment equal to the Accrued Liability, payable on the first day of the month following the month in which the Officer is deemed permanently Disabled; or (ii) the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of Disability, for life, in equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Officer is deemed permanently Disabled. The Officer or his duly authorized representative may make an election of which benefit to receive at any time prior to or upon being deemed permanently Disabled. Absent a timely election, the Officer shall be paid the benefit pursuant to clause (i) above. Notwithstanding the foregoing, in the event the Officer should die while actively or gainfully employed by the Employer at any time after the Effective Date and prior to (i) Retirement and (ii) the commencement of any payments under this Section 4.2, the payments provided in Section 4.1 herein shall be paid in lieu of the payments provided in this Section 4.2.