Separation from Service due to Disability Sample Clauses
The 'Separation from Service due to Disability' clause defines the terms under which an employee's employment may be terminated if they become unable to perform their job duties because of a disability. Typically, this clause outlines the process for determining whether a disability exists, such as requiring medical certification, and specifies any notice or severance provisions that apply. Its core function is to provide a clear and fair procedure for both the employer and employee in situations where continued employment is not possible due to health reasons, thereby reducing uncertainty and potential disputes.
Separation from Service due to Disability. If the Grantee incurs a Separation from Service due to Disability, then all of the RSUs referred to in Section 4(a) above shall become vested and such vested Shares shall continue to be issued to the Grantee on the Vesting Date.
Separation from Service due to Disability. If the Grantee incurs a Separation from Service due to Disability, then, provided that the Company has satisfied the Performance Measures as of the Vesting Date, a pro-rata portion of the PRSUs referred to in Section 4(a) above shall become vested and the pro-rata number of such Shares shall be issued to the Grantee on the Settlement Date. The number of Shares that vest shall be determined by multiplying the full number of Shares subject to the PRSUs by a fraction, which shall be the number of complete months from the beginning of the performance period to which the Performance Measures relate to the date of Separation from Service divided by the number of months from the beginning of the performance period to which the Performance Measures relate to the Vesting Date.
Separation from Service due to Disability. If the Grantee incurs a Separation from Service due to Disability, then all of the RSUs awarded hereunder shall become vested and such vested Shares shall be issued to the Grantee within sixty (60) days after such Separation from Service.
Separation from Service due to Disability. The Executive’s benefits shall be determined in accordance with the Company’s retirement, insurance, and other applicable plans and programs then in effect if the Executive Separates from Service due to Disability.
Separation from Service due to Disability. If the Grantee incurs a Separation from Service due to Disability, then, provided that the Company has satisfied the Performance Measures as of the Vesting Date, a pro-rata portion of the PRSUs referred to in Section 4(a) above shall become vested and the pro-rata number of such Shares shall be issued to the Grantee on the Settlement Date. The number of Shares that vest shall be determined by multiplying the number of Shares subject to the PRSUs that are actually earned based on achievement of the applicable Performance Measures by a fraction, which shall be the number of complete months from the Grant Date to the date of Separation from Service (typically the last day of active employment), divided by the number of months from the Grant Date to the Vesting Date.
Separation from Service due to Disability. In connection with the Grantee’s Separation from Service prior to December 31, 2017 due to Disability, on the Separation from Service Date, the Grantee shall vest with respect to a number of Time-Based Phantom Shares and Final Performance-Based Phantom Shares (the number of which shall be determined pursuant to Section 3(b)) equal to (x) 10% of the Phantom Shares multiplied by (y) the number of years (up to ten) the Grantee has performed services for the Company from January 1, 2008 through the date of the Grantee’s Disability.
Separation from Service due to Disability. If the SAR Holder ceases to be a Service Provider due to the SAR Holder’s “disability,” all of the Legacy SARs shall immediately become vested as of the date on which the SAR Holder ceased to be a Service Provider and may be exercised by the SAR Holder at any time before the earlier of (a) 5:00 p.m. Central Time on the date that is 12 months after the date on which the SAR Holder ceased to be a Service Provider due to disability or (b) 5:00 p.m. Central Time on the Expiration Date. For purposes of this Section 8.3, “disability” means the SAR Holder’s physical or mental impairment falls within the definition of disability as such term or any comparable term is defined in any disability insurance policy covering the SAR Holder at the time of such disability. The SAR Holder covenants and agrees to submit to a reasonable physical examination by a licensed medical doctor acceptable to Company for the purpose of evaluating whether the SAR Holder is disabled. All determinations as to the date and extent of disability shall be made by the Committee, upon the basis of such evidence, as the Committee deems necessary and desirable.
Separation from Service due to Disability. If the Participant Separates from Service with the Company/Subsidiary as a result of the Participant’s Disability, the Participant may exercise the Participant’s vested SARs, but only within such time-period ending on the earlier of (a) the date 12 months following the Participant’s Separation from Service or (b) the Expiration Date.
Separation from Service due to Disability. If the Executive’s Separation from Service occurs prior to the Executive’s 65th birthday due to the Executive’s Disability, the Bank shall pay to the Executive, within 30 days following the effective date of the Separation from Service, in a single lump sum, the sum of (a) the Account Balance as of the effective date of the Separation from Service and (b) the full Credit Amount required for the Plan Year in which such Separation from Service occurs, as provided for on Schedule A (unless already made).
Separation from Service due to Disability. If the Grantee incurs a Separation from Service due to Disability, then, provided that the Company has satisfied the Performance Measures as of the Vesting Date, a pro-rata portion of the PRSUs awarded hereunder shall become vested and such pro-rata portion of PRSUs shall be issued to the Grantee on the Settlement Date. The number of PRSUs that vest shall be determined by multiplying the number of Shares subject to the PRSUs that are actually earned based on achievement of the applicable Performance Measures by a fraction, the numerator of which shall be the number of completed months of the Grantee’s employment from the Grant Date to the date of the Grantee’s Separation from Service (typically the last day of active employment), and the denominator of which shall be the total number of months from the Grant Date to the Vesting Date.