Common use of Benefits Payable on Disability Clause in Contracts

Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. If the Executive qualifies for coverage, during the term of this Agreement, the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 per month of the Executive's salary until Executive reaches the age of 65. The Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $8,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.

Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. If the Executive qualifies for coverage, during the term of this Agreement, the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 12,000 per month of the Executive's salary until Executive reaches the age of 65. The After the first twelve (12) months of disability, the Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $8,000 10,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.

Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. If the Executive qualifies for coverage, during the term of this Agreement, the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 12,000 per month of the Executive's salary until Executive reaches the age of 65. The After the first twelve (12) months of disability, the Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $8,000 10,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.

Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first twelve (12) months of such continuous disability commencing with the first date of such disability. If the Executive qualifies for coverage, coverage during the term of this Agreement, the Company shall purchase and maintain a policy of Disability Insurance which, after twelve (12) continuous months of disability, will pay up to $10,000 8,000 per month of the Executive's salary until Executive reaches salary. After the age first twelve (12) months of 65. The disability, the Company has no obligation to supplement or augment disability payments made under any such disability policy or plan or make any other payment in connection with such disability. If the Company is unable to obtain a policy of Disability Insurance, the Company shall pay up to $8,000 4,000 per month to the Executive for a twelve (12) month period from the twelfth to the twenty-fourth month from the first date of such disability.