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 any monthly benefit payable under this Plan to a Disabled Member, as provided in Section 4.06.
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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 Company shall make the Disability Payment within 15 calendar days after the Executive becomes disabled.

  • 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 three years in accordance with the Company's regular payroll practices then in existence.

  • In the event that during the term of his employment by the Corporation Executive shall become Disabled (as that term is hereinafter defined) he shall continue to receive the full amount of the base salary to which he was theretofore entitled for a period of six months after he shall be deemed to have become Disabled (the "First Disability Payment Period").

  • In the event that during the term of his employment by the Corporation Executive shall become Disabled (as such term is hereinafter defined) he shall continue to receive the full amount of the base salary to which he was theretofore entitled for a period of six months after he shall be deemed to have become Disabled (the "First Disability Payment Period").

  • 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").

  • 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.

  • A Participant may not make a Disability Payment Election if the election would provide for a specific payment date after the Participant’s 80th birthday.

Related to Disability Payment

  • Disability allowance means monthly payments during

  • Disability means total and permanent disability as defined in Section 22(e)(3) of the Code.

  • Disability retirement for plan 1 members, means the period

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • disability living allowance means a disability living allowance under section 71 of the SSCBA;

  • Disability/Disabled means because of Injury or Sickness you are unable to perform the material duties of your Regular Occupation, or are receiving disability benefits under the Employer's plan, during the initial 9 months of Disability. Thereafter, you must be unable to perform all of the material duties of any occupation which you may reasonably become qualified based on education, training or experience, or are subject to the terms of a Rehabilitation Plan approved by the Insurance Company.

  • Qualified disability expenses means that term as defined in section 529A of the internal revenue code.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Pregnancy disability means a pregnancy-related medical condition or miscarriage.

  • mental disability means one or more mental disorders, as defined in the most recent edition of the American Psychiatric Association's "Diagnostic and Statistical Manual of Mental Disorders", or a record of or regarding a person as having one or more such disorders;

  • Disability Benefit means the benefit set forth in Article 8.

  • Disability Termination means the termination of a Participant’s employment under the disability provisions of the Participant’s Employment Agreement or, if the Participant is not a party to an Employment Agreement, then as a result of a “Disability” as defined in the Plan.

  • Partial Disability or "Partially Disabled" means you, as a result of Injury or Sickness, are able to:

  • Permanent Disability means the Employee’s inability to perform the essential functions of the Employee’s position, with or without reasonable accommodation, for a period of at least 120 consecutive days because of a physical or mental impairment.

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.

  • Qualified individual with a disability means an individual with a disability who satisfies the requisite skill, experience, education and other job-related requirements of the employment position such individual holds or desires, and who, with or without reasonable accommodation, can perform the essential functions of such position.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Disabled means a grantee who (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company or its Subsidiaries.

  • Accidental disability means a physical or mental condition that

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Individual with a disability means an individual who:

  • Long-Term Disability means the Grantee is receiving long-term disability benefits under the Employer’s long-term disability plan.

  • Permanent partial disability means a permanent disability

  • Total Disability means a “permanent and total disability” within the meaning of Section 22(e)(3) of the Code and such other disabilities, infirmities, afflictions or conditions as the Committee by rule may include.

  • Recurrent Disability means a Disability caused by an Injury or Sickness that is the same as, or related to, the cause of a prior Disability for which Monthly Benefits were payable. A Recurrent Disability will be treated as follows.