Common use of Substitute Disability Benefits Clause in Contracts

Substitute Disability Benefits. In the event that Executive's employment is terminated by reason of his becoming Totally Disabled as determined in accordance with Section 5(b), PROMISTAR shall pay or provide Executive in the same manner as before termination the compensation and benefits that he would have received if he had terminated employment entitled to compensation and benefits under Section 6(a) hereof until the earlier of the date on which Executive is determined by the Board to no longer be Totally Disabled, twenty- four (24) months from such termination of employment, or the expiration of the term of this Agreement. Such payments shall be offset by LTD Plan benefits and/or Social Security disability benefits, if applicable, received during the same period.

Appears in 9 contracts

Samples: Employment Agreement (Promistar Financial Corp), Employment Agreement (Promistar Financial Corp), Employment Agreement (Promistar Financial Corp)

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