Common use of TERMINATION FOR DISABILITY OR DEATH Clause in Contracts

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 33 contracts

Samples: Employment Agreement (LaPorte Bancorp, Inc.), Employment Agreement (MW Bancorp, Inc.), Employment Agreement (Versailles Financial Corp)

AutoNDA by SimpleDocs

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon Upon the termination of the Executive’s employment based on Disability. Upon , Executive shall be entitled to receive benefits in accordance with the determination that Executive has suffered a Disability, terms and provisions of under all short-term and/or long-term disability payments hereunder shall commence within thirty (30) daysplans maintained by the Employer for its executives.

Appears in 15 contracts

Samples: Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section Code section 409A of the Internal Revenue Code and shall be deemed to have occurred if: if (i) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections paragraph 6(b) and (c) shall apply upon the termination of the Executive’s employment based on for Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 8 contracts

Samples: Employment Agreement (Seneca-Cayuga Bancorp, Inc.), Employment Agreement (Generations Bancorp NY, Inc.), Employment Agreement (Generations Bancorp NY, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section Code section 409A of the Internal Revenue Code and shall be deemed to have occurred if: if (i) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections paragraph 6(b) and (c) shall apply upon the termination of the Executive’s employment based on for Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 8 contracts

Samples: Employment Agreement (ESSA Bancorp, Inc.), Employment Agreement (ESSA Bancorp, Inc.), Employment Agreement (ESSA Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank Company or the CompanyBank; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b9(b) and (c) shall apply upon the termination of the Executive’s 's employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 7 contracts

Samples: Employment Agreement (ES Bancshares, Inc.), Employment Agreement (ES Bancshares, Inc.), Employment Agreement (ES Bancshares, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyBank’s holding company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 7 contracts

Samples: Employment Agreement (Beacon Federal Bancorp, Inc.), Employment Agreement (Cape Bancorp, Inc.), Employment Agreement (Cape Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c6(a) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a termination of employment due to Disability, Executive shall be entitled to all disability payments hereunder shall commence within thirty (30) daysbenefits under any disability plan of the Bank and other plans to which Executive is a party.

Appears in 6 contracts

Samples: Employment Agreement (Westbury Bancorp, Inc.), Employment Agreement (Westbury Bancorp, Inc.), Employment Agreement (Westbury Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 6 contracts

Samples: Employment Agreement (Atlantic Coast Federal Corp), Employment Agreement (Atlantic Coast Financial CORP), Employment Agreement (Atlantic Coast Federal Corp)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank Association or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 6 contracts

Samples: Employment Agreement (Oconee Federal Financial Corp.), Employment Agreement (Oconee Federal Financial Corp.), Employment Agreement (Oconee Federal Financial Corp.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Code Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyBank's holding company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s 's employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 5 contracts

Samples: Employment Agreement (Beacon Federal Bancorp, Inc.), Employment Agreement (Beacon Federal Bancorp, Inc.), Employment Agreement (Beacon Federal Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s 's employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 4 contracts

Samples: Employment Agreement (Atlantic Coast Federal Corp), Employment Agreement (Atlantic Coast Federal Corp), Employment Agreement (Atlantic Coast Federal Corp)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s 's employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 3 contracts

Samples: Employment Agreement (Standard AVB Financial Corp.), Employment Agreement (Standard AVB Financial Corp.), Employment Agreement (Standard AVB Financial Corp.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 twelve (12) months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 3 contracts

Samples: Employment Agreement (Atlantic Coast Financial CORP), Employment Agreement (Atlantic Coast Federal Corp), Employment Agreement (Atlantic Coast Financial CORP)

AutoNDA by SimpleDocs

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 3 contracts

Samples: Employment Agreement (Atlantic Coast Financial CORP), Employment Agreement (Atlantic Coast Financial CORP), Employment Agreement (Atlantic Coast Federal Corp)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s 's employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 2 contracts

Samples: Employment Agreement (Atlantic Coast Federal Corp), Employment Agreement (Atlantic Coast Federal Corp)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination a)Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 2 contracts

Samples: Employment Agreement (PFS Bancorp, Inc.), Employment Agreement (PFS Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) 6.1. Termination of Executive’s employment based on “Disability” shall be construed to comply with Section Code section 409A of the Internal Revenue Code and shall be deemed to have occurred if: if (i) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections paragraph 6(b) and (c) shall apply upon the termination of the Executive’s employment based on for Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 2 contracts

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

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s 's employment based on "Disability" shall be construed to comply with Section Code section 409A of the Internal Revenue Code and shall be deemed to have occurred if: if (i) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that which can be expected to result in death, or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyEmployer; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections paragraph 6(b) and (c) shall apply upon the termination of the Executive’s 's employment based on for Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 2 contracts

Samples: And Reststated Employment Agreement (ESSA Bancorp, Inc.), Employment Agreement (ESSA Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Code Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyBank’s holding company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 1 contract

Samples: Employment Agreement (Beacon Federal Bancorp, Inc.)

TERMINATION FOR DISABILITY OR DEATH. (a) Termination of The Bank may terminate the Executive’s employment based on due to the Executive’s Disability. The Executive shall be treated as experiencing a “Disability” shall be construed upon the earliest to comply with Section 409A occur of the Internal Revenue Code and shall be deemed to have occurred iffollowing: (i) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the CompanyBank; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. The provisions In the event of Sections 6(b) and (c) shall apply upon the termination of such Disability, the Executive’s employment based on obligation to perform services under this Agreement will terminate and the Executive shall receive benefits under any disability program that may be sponsored by the Company or the Bank at the time of such Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

Appears in 1 contract

Samples: Employment Agreement (First Clover Leaf Financial Corp.)

Time is Money Join Law Insider Premium to draft better contracts faster.