Common use of Termination upon Disability Clause in Contracts

Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's employment with no further notice.

Appears in 12 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

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Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or his personal representative, terminate the Officer's employment with no further notice.

Appears in 3 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's employment with no further notice.

Appears in 3 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of his employment, his salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or his personal representative, terminate the Officer's employment with no further notice.

Appears in 3 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (Aa) In the event that the Officer experiences a Disability during the period of his employment, his salary shall continue at the same rate as was in effect on the day date of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or his personal representative, terminate the Officer's employment with no further notice.

Appears in 3 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's ’s employment with no further notice.

Appears in 2 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (Aa) In the event that the Officer experiences a Disability during the period of his employment, his salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or his personal representative, terminate the Officer's employment with no further notice.

Appears in 2 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

Termination upon Disability. (Aa) In the event that the Officer experiences a Disability during the period of her employment, her salary shall continue at the same rate as was in effect on the day date of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or her personal representative, terminate the Officer's employment with no further notice.

Appears in 2 contracts

Samples: Employment Contract (Yardville National Bancorp), Employment Contract (Yardville National Bancorp)

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Termination upon Disability. (A) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's ’s employment with no further notice.

Appears in 1 contract

Samples: Employment Contract (Yardville National Bancorp)

Termination upon Disability. (AC) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's ’s employment with no further notice.

Appears in 1 contract

Samples: Employment Contract (Yardville National Bancorp)

Termination upon Disability. (Aa) In in the event that the Officer experiences a Disability during the period of his employment, his salary shall continue at the same rate as was in effect on the day date of the occurrence of such Disability, reduced by an any concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or his personal representative, terminate the Officer's employment with no further notice.

Appears in 1 contract

Samples: Employment Contract (Yardville National Bancorp)

Termination upon Disability. (AB) In the event that the Officer experiences a Disability during the period of employment, salary shall continue at the same rate as was in effect on the day of the occurrence of such Disability, reduced by an concurrent disability benefit payments provided under disability insurance maintained by the Bank. If such Disability continues for a period of six (6) consecutive months, the Bank at its option may thereafter, upon written notice to the Officer or personal representative, terminate the Officer's ’s employment with no further notice.

Appears in 1 contract

Samples: Employment Contract (Yardville National Bancorp)

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