Common use of Termination by Reason of Disability or Death Clause in Contracts

Termination by Reason of Disability or Death. If Executive’s employment with the Company is terminated during the Employment Term by reason of Executive’s Disability or death, the Company will pay and/or provide Executive or Executive’s legal representative, as the case may be, (i) the Accrued Obligations; (ii) a pro-rated incentive award pursuant to the terms of the Bank’s Executive Short Term Incentive Plan; and (iii) a pro-rated incentive award pursuant to the terms of the Bank’s Executive Long Term Incentive Plan.

Appears in 4 contracts

Samples: Executive Employment Agreement (Citizens Community Bancorp Inc.), Executive Employment Agreement (Citizens Community Bancorp Inc.), Executive Employment Agreement (Citizens Community Bancorp Inc.)

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Termination by Reason of Disability or Death. If Executive’s 's employment with the Company is terminated during the Employment Term by reason of Executive’s 's Disability or death, the Company will pay and/or provide Executive or Executive’s 's legal representative, as the case may be, (i) the Accrued Obligations; and (ii) a pro-rated incentive award pursuant Performance Bonus, payable on the same terms and conditions and at the same time as payable to the terms other senior executives of the Bank’s Executive Short Term Incentive Plan; and (iii) a pro-rated incentive award pursuant to the terms of the Bank’s Executive Long Term Incentive PlanCompany.

Appears in 1 contract

Samples: Executive Employment Agreement (Citizens Community Bancorp Inc.)

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