Disability Payment definition

Disability Payment means, for purposes of Section 5.3(d) hereof, an amount equal to the greater of (i) 60% of the Base Salary in effect for the calendar year in which such Disability occurred (or the average Base Salary if such Disability occurred over more than one calendar year) and (ii) the amount payable to Executive under any disability plan as adopted by the Company from time to time (the "Disability Plan").

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Disability Payment means the payment by the Company to M▇. ▇▇▇▇▇▇ of a sum equal to one-half of M▇. ▇▇▇▇▇▇’▇ base salary paid under Section 4 hereof at the date of the Disability Notice, payable in twelve equal monthly installments beginning during the calendar month after the date of the Disability Notice. The amount of the pro rata Annual Bonus will be payable to M▇. ▇▇▇▇▇▇ in cash when the Annual Bonus for the year of termination would otherwise have been paid if M▇. ▇▇▇▇▇▇’▇ employment had not terminated.

Disability Payment means the payment by the Company to M▇. ▇▇▇▇▇▇ of a sum equal to one-half of M▇. ▇▇▇▇▇▇’▇ base salary paid under Section 4 hereof at the date of the Disability Notice, payable in twelve equal monthly installments beginning on or as soon as practicable (but not more than 30 days) after the date of the Disability Notice.

Examples of Disability Payment in a sentence

• Any installments of the Death or Disability Payment that, in accordance with customary payroll practices, would have typically been made during the Release Consideration Period shall accumulate and shall then be paid on the Initial Payment Date.

• The Disability Payment Amount shall be payable in equal installments at the times that the Base Salary is paid to Employee and shall be subject to such deductions as may be required by applicable law or regulation.

• Upon the expiration of the Second Disability Payment Period, Executive shall not be entitled to receive any further payments on account of his base salary until he shall cease to be Disabled and shall have resumed his duties hereunder and provided that the Corporation shall not have theretofore terminated this Agreement as hereinafter provided.

• The Provider must submit a claim for payment of a Moderate Intellectual Disability Payment in accordance with any Guidelines.

• Subject to this Agreement and in accordance with this clause and any Guidelines, the Department will pay the Provider a Moderate Intellectual Disability Payment in relation to each Moderate Intellectual Disability Participant.

• The Company shall make the Disability Payment within 15 calendar days after the Executive becomes disabled.

• The first monthly installment of the Disability Payment shall be paid on the Company’s first payroll date after the expiration of the revocation period, in accordance with the Age Discrimination in Employment Act (ADEA), as set forth in the General Release; provided, if the Company does not have sufficient time to include the first monthly installment of the Disability Payment in such first payroll date, it will be paid on the next payroll date.

• If the First Disability Payment Period shall end prior to the Termination Date, Executive thereafter shall be entitled to receive salary at an annual rate equal to 80% of his then current base salary for a further period ending on the earlier of (i) six months thereafter or (ii) the Termination Date (the "Second Disability Payment Period").

• Notwithstanding the foregoing, the Company, in its sole discretion, may elect to make the Disability Payment to the Executive in one lump sum due within thirty (30) days of the Executive's termination of employment.

• Upon Termination of Executive because of a Disability, in addition to the amounts payable under Section 5.3(a) hereof, the Company shall pay the aggregate Disability Payment for the greater of (i) three years (in accordance with the Company's regular payroll practices then in existence) and (ii) the period covered by any Disability Plan.