Common use of Termination Upon Employee's Disability Clause in Contracts

Termination Upon Employee's Disability. The Bank may terminate the Employee’s employment under this Agreement after having established his Disability, in which event the Employee shall be entitled to the compensation and benefits provided for under this Agreement for the period that starts on the date the Employee is first unable to perform his services hereunder (as determined by the Bank) due to the physical or mental infirmity that is the basis for the Disability and ends on the date on which the Employee’s employment is terminated due to such Disability; provided that the foregoing compensation and benefits shall be reduced dollar for dollar by any benefits paid to the Employee in respect of such period pursuant to any disability plan of the Bank. During any period that the Employee receives benefits pursuant to this paragraph (b), and to the extent that the Employee shall be physically and mentally able to do so, (i) he shall furnish such information, assistance and documents so as to assist in the continued ongoing business of the Bank, (ii) he shall make himself available to the Bank to undertake reasonable assignments consistent with his prior position and his physical and mental health, and (iii) the Bank shall pay all reasonable expenses incident to the performance of such assistance and assignments.

Appears in 3 contracts

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

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Termination Upon Employee's Disability. The Bank may terminate the Employee’s employment under this Agreement after having established his her Disability, in which event the Employee shall be entitled to the compensation and benefits provided for under this Agreement for the period that starts on the date the Employee is first unable to perform his her services hereunder (as determined by the Bank) due to the physical or mental infirmity that is the basis for the Disability and ends on the date on which the Employee’s employment is terminated due to such Disability; ; provided that the foregoing compensation and benefits shall be reduced dollar for dollar by any benefits paid to the Employee in respect of such period pursuant to any disability plan of the Bank. During any period that the Employee receives benefits pursuant to this paragraph (b), and to the extent that the Employee shall be physically and mentally able to do so, (i) he she shall furnish such information, assistance and documents so as to assist in the continued ongoing business of the Bank, (ii) he she shall make himself available to the Bank to undertake reasonable assignments consistent with his her prior position and his her physical and mental health, and (iii) the Bank shall pay all reasonable expenses incident to the performance of such assistance and assignments.

Appears in 2 contracts

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

Termination Upon Employee's Disability. The Bank Company may terminate the Employee’s employment under this Agreement after having established his Disability, in which event the Employee shall be entitled to the compensation and benefits provided for under this Agreement for the period that starts on the date the Employee is first unable to perform his services hereunder (as determined by the BankCompany) due to the physical or mental infirmity that is the basis for the Disability and ends on the date on which the Employee’s employment is terminated due to such Disability; provided that the foregoing compensation and benefits shall be reduced dollar for dollar by any benefits paid to the Employee in respect of such period pursuant to any disability plan of the Company or the Bank. During any period that the Employee receives benefits pursuant to this paragraph (b), and to the extent that the Employee shall be physically and mentally able to do so, (i) he shall furnish such information, assistance and documents so as to assist in the continued ongoing business of the BankCompany, (ii) he shall make himself available to the Bank Company to undertake reasonable assignments consistent with his prior position and his physical and mental health, and (iii) the Bank Company shall pay all reasonable expenses incident to the performance of such assistance and assignments.

Appears in 2 contracts

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

Termination Upon Employee's Disability. The Bank Company may terminate the Employee’s employment under this Agreement after having established his her Disability, in which event the Employee shall be entitled to the compensation and benefits provided for under this Agreement for the period that starts on the date the Employee is first unable to perform his her services hereunder (as determined by the BankCompany) due to the physical or mental infirmity that is the basis for the Disability and ends on the date on which the Employee’s employment is terminated due to such Disability; ; provided that the foregoing compensation and benefits shall be reduced dollar for dollar by any benefits paid to the Employee in respect of such period pursuant to any disability plan of the Company or the Bank. During any period that the Employee receives benefits pursuant to this paragraph (b), and to the extent that the Employee shall be physically and mentally able to do so, (i) he she shall furnish such information, assistance and documents so as to assist in the continued ongoing business of the BankCompany, (ii) he she shall make himself available to the Bank Company to undertake reasonable assignments consistent with his her prior position and his her physical and mental health, and (iii) the Bank Company shall pay all reasonable expenses incident to the performance of such assistance and assignments.

Appears in 2 contracts

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

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Termination Upon Employee's Disability. The Bank Company may terminate the Employee’s employment under this Agreement after having established his Disability, in which event the Employee shall be entitled to the compensation and benefits provided for under this Agreement for the period that starts on the date the Employee is first unable to perform his services hereunder (as determined by the BankCompany) due to the physical or mental infirmity that is the basis for the Disability and ends on the date on which the Employee’s employment is terminated due to such Disability; provided that the foregoing compensation and benefits shall be reduced dollar for dollar by any benefits paid to the Employee in respect of such period pursuant to any disability plan of the BankCompany. During any period that the Employee receives benefits pursuant to this paragraph (b), and to the extent that the Employee shall be physically and mentally able to do so, (i) he shall furnish such information, assistance and documents so as to assist in the continued ongoing business of the BankCompany, (ii) he shall make himself available to the Bank Company to undertake reasonable assignments consistent with his prior position and his physical and mental health, and (iii) the Bank Company shall pay all reasonable expenses incident to the performance of such assistance and assignments.

Appears in 1 contract

Samples: Employment Agreement (Madison Bancorp Inc)

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