Common use of Disability Benefits Clause in Contracts

Disability Benefits. In the event of the Disability of Executive, Executive shall be placed on a paid leave of absence and the Company shall continue to pay Executive 100% of Executive’s then current Base Salary pursuant to paragraph 4(a) during the first twelve (12) months of a substantially continuous period of Disability. It is provided, however, that in the event Executive is disabled for a substantially continuous period exceeding twelve (12) months, the Company may, at its election, terminate this Agreement, in which event payment of Executive’s Base Salary shall cease.

Appears in 5 contracts

Samples: Employment Agreement (Xenith Bankshares, Inc.), Employment Agreement (Xenith Bankshares, Inc.), Employment Agreement (Xenith Bankshares, Inc.)

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Disability Benefits. In the event of the Disability of Executive, Executive shall be placed on a paid leave of absence and the Company Employers shall continue to pay Executive 100% of Executive’s 's then current Base Salary pursuant to paragraph 4(a) during the first twelve (12) months of a substantially continuous period of Disabilitydisability. It is provided, however, that in the event Executive is disabled for a substantially continuous period exceeding twelve (12) months, the Company Employers may, at its their election, terminate this Agreement, in which event payment of Executive’s 's Base Salary shall cease.

Appears in 4 contracts

Samples: Employment Agreement (GBC Bancorp Inc), Employment Agreement (GBC Bancorp Inc), Employment Agreement (GBC Bancorp Inc)

Disability Benefits. In the event of the Disability of Executive, Executive shall be placed on a paid leave of absence and the Company Employers shall continue to pay Executive 100% of Executive’s then current Base Salary pursuant to paragraph 4(a) during the first twelve (12) months of a substantially continuous period of Disability. It is provided, however, that in the event Executive is disabled for a substantially continuous period exceeding twelve (12) months, the Company Employers may, at its their election, terminate this Agreement, in which event payment of Executive’s Base Salary shall cease.

Appears in 2 contracts

Samples: Employment Agreement (Atlantic Capital Bancshares, Inc.), Employment Agreement (Atlantic Capital Bancshares, Inc.)

Disability Benefits. In the event of the Disability of Executive, Executive shall be placed on a paid leave of absence and the Company Bank shall continue to pay Executive 100% of Executive’s then current Base Salary pursuant to paragraph 4(a) during the first twelve (12) months of a substantially continuous period of Disability. It is provided, however, that in the event Executive is disabled for a substantially continuous period exceeding twelve (12) months, the Company Bank may, at its election, terminate this Agreement, in which event payment of Executive’s Base Salary shall cease.

Appears in 2 contracts

Samples: Employment Agreement (Xenith Bankshares, Inc.), Employment Agreement (Xenith Bankshares, Inc.)

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Disability Benefits. In the event of the Disability of Executive, Executive shall be placed on a paid leave of absence and the Company Employer shall continue to pay Executive 100% of Executive’s 's then current Base Salary pursuant to paragraph 4(a) during the first twelve (12) months of a substantially continuous period of Disabilitydisability. It is provided, however, that in the event Executive is disabled for a substantially continuous period exceeding twelve (12) months, the Company Employer may, at its election, terminate this Agreement, in which event payment of Executive’s 's Base Salary shall cease.

Appears in 2 contracts

Samples: Employment Agreement (GBC Bancorp Inc), Employment Agreement (GBC Bancorp Inc)

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