Termination of Employment for Disability. If, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall not have performed his duties hereunder on a full time basis for six (6) consecutive months, Arrow or the Bank may effect a Termination of Employment of Executive for Disability upon thirty (30) days' written notice. Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board or Bank Board. The compensation of the Executive during any period of disability prior to the effective date of such Termination of Employment of Executive for Disability shall be the amounts normally payable to him in accordance with this Agreement, reduced by the sum of the amounts, if any, paid to the Executive for such period under disability benefit plans maintained by Arrow or the Bank. The Executive shall not be entitled to any further compensation from Arrow or the Bank for any period subsequent to the effective date of such Termination of Employment of Executive for Disability, except for payments, if any, payable in accordance with the then current plans and policies of Arrow or the Bank.
Termination of Employment for Disability. If Executive becomes Totally and Permanently Disabled (as defined below) during the term of this Agreement, the Bank may terminate Executive's employment and this Agreement, except Section 1.5 and Article IV hereof, by giving Executive written notice of such termination not less than 5 days before the effective date thereof. If Executive's employment and this Agreement are terminated pursuant to this Section 2.3, the Bank shall pay to Executive his theretofore unpaid base salary for the period of employment up to the date of termination, and the Company and the Bank shall have no further obligations to Executive under this Agreement, except for any COBRA obligations. The Executive is Totally and Permanently Disabled for purposes of this Section 2.3 if he is disabled or incapacitated to the extent that he is unable to perform the duties of Vice President - Retail Sales and Services of the Company and the Bank for more than three (3) consecutive months, and such disability or incapacity (i) is expected to continue for more than three (3) additional months as certified by a medical doctor of the Company's choosing which is not contradicted by a doctor of the Executive's choosing or (ii) shall have in fact continued for more than three (3) additional months.
Termination of Employment for Disability. If, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall not have performed his duties hereunder on a full time basis for six (6) consecutive months, Arrow may effect the Executive's Termination of Employment upon thirty (30) days' written notice. Such Termination of Employment for disability shall require the affirmative vote of a majority of the entire Arrow Board or Bank Board. The Executive's compensation during any period of disability prior to the date of such Termination of Employment shall be the amounts normally payable to him in accordance with this Agreement, reduced by the sum of the amounts, if any, paid to the Executive under disability benefit plans maintained by Arrow or the Bank. The Executive shall not be entitled to any further compensation from Arrow or the Bank for any period subsequent to the date of such Termination of Employment upon Executive’s disability, except for payments, if any, payable in accordance with the then current plans and policies of Arrow or the Bank; provided, however, that any such Termination of Employment for disability occurring after the Executive shall have elected to become a Retired Early Employee under Paragraph 6 of this Agreement will not affect the right of the Executive to receive all of the payments provided for therein.
Termination of Employment for Disability. If the Participant ceases to be employed by the Company by reason of Disability, this Option shall, to the extent rights to purchase shares hereunder have vested as of the date of such Disability and have not been fully exercised, be exercisable, in whole or in part, at any time within the period of five (5) years following such termination of employment, subject, however, to prior expiration of the term of this Option and any other limitations upon its exercise in effect at the date of exercise. If the Participant dies after such Disability, this Option shall be exercisable in accordance with Section 8(e) hereof.
Termination of Employment for Disability. Upon Termination of Employment by reason of Disability, this Option shall be fully vested and shall be exercisable, in whole or in part, for a period of one (1) year following such Termination of Employment, subject to any other limitations imposed by the Plan. If the Employee dies after such Disability, this Option shall be exercisable in accordance with paragraph 8(e) hereof.
Termination of Employment for Disability. Subject to Clause 1A, during the Term, the Employee’s employment may be terminated by the Company at any time by giving prior written notice of ninety (90) days to the employee or his representatives upon failure by the Employee to substantially perform his duties hereunder, as a result of physical or mental incapacity (hereinafter referred to as “Disability”), if such Disability continues for more than three (3) consecutive months or an aggregate of more than four (4) months in any Financial Year (such disability, “Permanent Disability”).
Termination of Employment for Disability. If, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall not have performed his duties hereunder on a full-time basis for six (6) consecutive months, Arrow and /or either of the Banks may effect a Termination of Employment of Executive for Disability upon thirty (30) days' written notice. Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board and/or either of the Bank Boards (excluding the Executive ifhe is a Board Member). The compensation of the Executive during any period of disability prior to the effective date of such Termination of Employment of Executive for Disability shall be the amounts normally payable to him in accordance with this Agreement, reduced by the sum of the amounts, if any, paid to the Executive for such period under disability benefit plans maintained by Arrow or the Banks. The Executive shall not be entitled to any further compensation from Arrow or the Banks for any period subsequent to the effective date of such Tennination of Employment of Executive for Disability, except for payments, if any, payable in accordance with the then current plans and policies of Arrow or the Banks. (e)
Termination of Employment for Disability. If, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall not have performed his duties hereunder on a full-time basis for six (6) consecutive months, Arrow and /or either of the Banks may effect a Termination of Employment of Executive for Disability upon thirty (30) days' written notice. Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board and/or either of the Bank Boards. The compensation of the Executive during any period of disability prior to the effective date of such Termination of Employment of Executive for Disability shall be the amounts normally payable to him in accordance with this Agreement, reduced by the sum of the amounts, if any, paid to the Executive for such period under disability benefit plans maintained by Arrow or the Banks. The Executive shall not be entitled to any further compensation from Arrow or the Banks for any period subsequent to the effective date of such Termination of Employment of Executive for Disability, except for payments, if any, payable in accordance with the then current plans and policies of Arrow or the Banks. (e)
Termination of Employment for Disability. Upon the Participant’s termination of employment caused by the Participant’s Disability prior to the Retirement Date, and whether or not eligible for early retirement in accordance with the Company’s Retirement Plan, the Company shall pay to the Participant the Actual Deferrals, together with interest compounded on such amounts at eleven percent (11%) pursuant to the Participant’s Benefit Schedule. The Company shall pay such benefits based on the various Options For Payment Of Benefits selected by the Participant during his participation under this Agreement.
Termination of Employment for Disability. Termination of the Executive's employment for disability shall be deemed to arise on the earlier of (i) the commencement of disability benefit payments under any group or individual long-term disability insurance covering the Executive, the premiums for which coverage are paid by CBI, or (ii) the agreement of the physician retained by CBI and the Executive's physician that the Executive has suffered a sickness, accident or injury which prevents the Executive from performing substantially all of the Executive's normal duties for the Company. Upon termination of employment for disability, CBI shall provide to the Executive the Severance Compensation for 12 months, commencing on the date of the termination, but reduced by any benefits the Executive receives under group or individual disability insurance, to the extent the premiums for such coverage over the 12 months preceding the date of termination have been paid by the Company. CBI shall also pay to the Executive the Bonus Runoff, and the Executive shall be 100% vested in all stock options under the CBI Stock Option Plan and in the benefits under the Deferred Retention Plan. The Restrictive Covenants shall be binding on the Executive for 24 months following the date of termination of employment.
