Additional Disability Coverage. In addition to the employee benefit plan coverage provided under Section 3(d) above, during the term of this Agreement the Executive will be provided with additional "Disability" (as hereinafter defined) benefits in an amount such that the total annual Disability benefit payable under this provision, together with payments under any short-term and/or long-term disability program or policy maintained by the Employer and from workers compensation with respect to the disabling condition, will be equal to 70% of the Executive's annualized Base Salary immediately prior to the Disability. The Disability benefit provided under this Section 3(e) will be paid from the date of the Disability until the earliest of (i) the cessation of the Disability; (ii) the Executive's death; (iii) the Executive's attainment of age 65; (iv) the date when short-term disability benefits terminate if long-term disability benefits do not immediately commence thereafter pursuant to the terms of that policy; or (v) the date when long-term disability policy benefits terminate pursuant to the terms of that policy.
Appears in 5 contracts
Sources: Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc)
Additional Disability Coverage. In addition to the employee benefit plan coverage provided under Section 3(d) above, during the term of this Agreement the Executive will be provided with additional "Disability" (as hereinafter defined) benefits in an amount such that the total annual Disability benefit payable under this provision, together with payments under any short-term and/or long-term disability program or policy maintained by the Employer and from workers compensation with respect to the disabling condition, will be equal to 70% of the Executive's annualized Base Salary immediately prior to the Disability. The Disability benefit provided under this Section 3(e) will be paid from the date of the Disability in the same manner and at the same time that benefits are paid under the Employer’s short-term or long-term disability program or policy, as applicable, until the earliest of (i) the cessation of the Disability; (ii) the Executive's death; (iii) the Executive's attainment of age 65; (iv) the date when short-term disability benefits terminate if long-term disability benefits do not immediately commence thereafter pursuant to the terms of that policy; or (v) the date when long-term disability policy benefits terminate pursuant to the terms of that policy.
Appears in 4 contracts
Sources: Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc)
Additional Disability Coverage. In addition to the employee benefit plan coverage provided under Section 3(d) above, during the term of this Agreement the Executive will be provided with additional "“Disability" ” (as hereinafter defined) benefits in an amount such that the total annual Disability benefit payable under this provision, together with payments under any short-term and/or long-term disability program or policy maintained by the Employer and from workers compensation with respect to the disabling condition, will be equal to 70% of the Executive's ’s annualized Base Salary immediately prior to the Disability. The Disability benefit provided under this Section 3(e) will be paid from the date of the Disability in the same manner and at the same time that benefits are paid under the Employer’s short-term or long-term disability program or policy, as applicable until the earliest of (i) the cessation of the Disability; (ii) the Executive's ’s death; (iii) the Executive's ’s attainment of age 65; (iv) the date when short-term disability benefits terminate if long-term disability benefits do not immediately commence thereafter pursuant to the terms of that policy; or (v) the date when long-term disability policy benefits terminate pursuant to the terms of that policy.
Appears in 4 contracts
Sources: Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc), Employment Agreement (Atherogenics Inc)
Additional Disability Coverage. In addition to the employee benefit plan coverage provided under Section 3(d) above, during the term of this Agreement the Executive will be provided with additional "Disability" (as hereinafter defined) benefits in an amount such that the total annual Disability benefit payable under this provision, together with payments under any short-term and/or long-term disability program or policy maintained by the Employer and from workers compensation with respect to the disabling condition, will be equal to 70% of the Executive's annualized Base Salary immediately prior to the Disability. The Disability benefit provided under this Section 3(e) will be paid from the date of the Disability in the same manner and at the same time that benefits are paid under the Employer’s short-term or long-term disability program or policy, as applicable until the earliest of (i) the cessation of the Disability; (ii) the Executive's death; (iii) the Executive's attainment of age 65; (iv) the date when short-term disability benefits terminate if long-term disability benefits do not immediately commence thereafter pursuant to the terms of that policy; or (v) the date when long-term disability policy benefits terminate pursuant to the terms of that policy.
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