Disability Benefit Plans Sample Clauses

Disability Benefit Plans. During any Disability Period, Executive shall be entitled to receive disability benefit payments according to the provisions of the Company's disability plans for salaried employees, if any, and Executive shall continue to be an employee of the Company for purposes of continued vesting and exercise of stock options (but not for purposes of participation in incentive plans) and shall continue to participate in all employee benefit plans for which he is eligible pursuant to this Agreement or otherwise. To the extent that Executive remains employed by the Company during a Disability Period, in addition to the disability benefit payments under such plans, during the first 180 days of any such Disability Period, Executive shall be entitled to receive, at normal payroll dates, supplemental disability payments directly from the Company in the amount necessary for the total of such supplemental disability payments and disability benefit plan payments to equal, on an annual basis, 100% of the Base Salary in effect at the beginning of the Disability Period. In the event the Disability Period continues beyond such 180-day period and Executive remains employed the Company, Executive shall then receive, for the remaining duration of the Disability Period for as long as he remains employed, in addition to the disability benefit payments under the provisions of the Company's disability plan(s), supplemental disability payments directly from the Company at a rate equal to one-third (33%) of his Base Salary in effect at the beginning of the Disability Period, such supplemental disability payments to be adjusted on an annual basis by the applicable percentage increase (or decrease) in the consumer price index (All Urban Consumers) as published by the US Department of Labor, or any successor index thereto.
Sample 1
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Disability Benefit Plans. During any Disability Period, the Employee shall be entitled to receive disability benefit payments according to the provisions of Information Resources' disability plans for salaried employees, if any, and the Employee shall continue to be an employee of IRI for purposes of continued vesting and exercise of stock options (but not for purposes of participation in incentive or bonus plans) and shall continue to participate in all employee benefit plans for which he is eligible pursuant to this Agreement or otherwise. In addition to the disability benefit payments under said plans, during the first 180 days of any such Disability Period the Employee shall be entitled to receive, at normal payroll dates, supplemental disability payments directly from Information Resources in the amount necessary for the total of such supplemental disability payments and disability benefit plan payments to equal, on an annual basis, 100% of the Base Salary in effect at the beginning of the Disability Period. In the event the Disability Period continues beyond such 180 day period, Employee shall then receive, for the remaining duration of the Disability Period, in addition to the disability benefit payments under the provisions of IRI's disability plan(s), supplemental disability payments directly from Information Resources at a rate equal to one- third (33.3%) of his Base Salary in effect at the beginning of the Disability Period, such supplemental disability payments to be adjusted on an annual basis by the applicable percentage increase (or decrease) in the consumer price index (All Urban Consumers) as published by the US Department of Labor, or any successor index thereto.
Sample 1
Disability Benefit Plans. During any period of disability, as defined in the applicable disability plans of Information Resources in effect from time to time ("Disability Period"), Employee shall continue to be an employee of Information Resources for purposes of continued vesting of stock options (but not for purposes of participation in incentive or bonus plans) and shall continue to participate in all employee benefit plans for which he is eligible pursuant to this Agreement or otherwise. In addition to the disability benefit payments under said plans, during the first 180 days of any such Disability Period, the Employee shall be entitled to receive, at normal payroll dates, supplemental disability payments directly from Information Resources in the amount necessary for the total of such supplemental disability payments and disability benefit plan payments to equal, on an annual basis, 100% of the Base Salary in effect at the beginning of the Disability Period. In the event the period of disability continues beyond such 180 day period, Employee shall then receive, for the remaining duration of any such disability, in addition to the disability benefit payments under the provisions of IRI's disability plan(s), supplemental disability payments directly from Information Resources at a rate equal to fifteen percent (15%) of his Base Salary in effect at the beginning of the period of disability, such supplemental disability payments to be adjusted thereafter on an annual basis by the applicable percentage increase (or decrease) in the applicable consumer price index for the Greater London Metropolitan area.
Sample 1

Related to Disability Benefit Plans

  • Disability Benefits Technology Errors and Omissions Not less than $1,000,000 each claim Not less than $2,000,000 in aggregate At the time of the first transaction with an Authorized User and updated in accordance with Contract Crime Insurance Not less than $50,000 Lot 3 Insurance Type Proof of Coverage is Due Commercial General Liability Not less than $5,000,000 each occurrence Updated in accordance with Contract General Aggregate $2,000,000 Products – Completed Operations Aggregate $2,000,000 Personal and Advertising Injury $1,000,000 Business Automobile Liability Insurance Not less than $5,000,000 each occurrence Workers’ Compensation

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • Employees; Benefit Plans (a) Following the Closing Date and except to the extent an alternative treatment is set forth in this Section 5.14, NBT may choose to maintain any or all of the Salisbury Benefit Plans in its sole discretion, and Salisbury and Salisbury Bank shall cooperate with NBT in order to effect any plan terminations to be made as of the Effective Time. For the period commencing at the Effective Time and ending 12 months after the Effective Time (or until the applicable Continuing Employee’s earlier termination of employment), NBT shall provide, or cause to be provided, to each employee of Salisbury Bank who continues with the Surviving Bank as of the Closing Date (a “Continuing Employee”) (i) a base salary or a base rate of pay at least equal to the base salary or base rate of pay provided to similarly situated employees of NBT or any Subsidiary of NBT and (ii) other benefits (other than severance, termination pay or equity compensation) at least substantially comparable in the aggregate to the benefits provided to similarly situated employees of NBT or any Subsidiary of NBT. For any Salisbury Benefit Plan terminated for which there is a comparable NBT Benefit Plan of general applicability, NBT shall take all commercially reasonable action so that Continuing Employees shall be entitled to participate in such NBT Benefit Plan to the same extent as similarly-situated employees NBT (it being understood that inclusion of the employees of Salisbury and Salisbury Bank in the NBT Benefit Plans may occur at different times with respect to different plans). NBT shall cause each NBT Benefit Plan in which Continuing Employees are eligible to participate to take into account for purposes of eligibility and vesting under the NBT Benefit Plans (but not for purposes of benefit accrual) the service of such employees with Salisbury or Salisbury Bank to the same extent as such service was credited for such purpose by Salisbury or Salisbury Bank; provided, however, that such service shall not be recognized to the extent that such recognition would result in a duplication of benefits or retroactive application. Nothing herein shall limit the ability of NBT to amend or terminate any of the Salisbury Benefit Plans or NBT Benefit Plans in accordance with their terms at any time. Following the Closing Date, NBT shall honor, in accordance with Xxxxxxxxx’x policies and procedures in effect as of the date hereof, any employee expense reimbursement obligations of Xxxxxxxxx for out-of-pocket expenses incurred during the calendar year in which the Closing occurs by any Continuing Employee.

  • ERISA; Benefit Plans Schedule 3.22 (i) lists (A) each ERISA Pension Benefit Plan (1) the funding requirements of which (under Section 302 of ERISA or Section 412 of the Code) are, or at any time during the six-year period ended on the date hereof were, in whole or in part, the responsibility of the Company or (2) respecting which the Company is, or at any time during that period was, a "contributing sponsor" or an "employer" as defined in Sections 4001(a)(13) and 3(5), respectively, of ERISA (each plan this clause (A) describes being a "Company ERISA Pension Plan"), (B) each other ERISA Pension Benefit Plan respecting which an ERISA Affiliate is, or at any time during that period was, such a "contributing sponsor" or "employer" (each plan this clause (B) describes being an "ERISA Affiliate Pension Plan") and (C) each other ERISA Employee Benefit Plan that is being, or at any time during that period was, sponsored, maintained or contributed to by the Company (each plan this clause (C) describes and each Company ERISA Pension Plan being a "Company ERISA Benefit Plan"), (ii) states the termination date of each Company ERISA Benefit Plan and ERISA Affiliate Pension Plan that has been terminated and (iii) identifies for each ERISA Affiliate Pension Plan the relevant ERISA Affiliates. The Company has provided Buyer with true, complete and correct copies of (i) the Company ERISA Benefit Plan and ERISA Affiliate Pension Plan, (ii) each trust agreement related thereto and (iii) all amendments to those plans and trust agreements. Except as Schedule 3.22 sets forth, (i) the Company is not, and at no time during the six-year period ended on the date hereof was, a member of any ERISA Group that currently includes, or included when the Company was a member, among its members any Person other than the Company and (ii) no Person is an ERISA Affiliate of the Company.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Executive Benefit Plans The Executive will be eligible to participate in any executive benefit plans offered by the Company including, without limitation, medical, dental, short-term and long-term disability, life, pension, profit sharing and nonqualified deferred compensation arrangements, as the Board may determine in its discretion. The Company reserves the right to modify, suspend or discontinue any and all of the plans, practices, policies and programs at any time without recourse by the Executive, so long as the Company takes such action generally with respect to other similarly situated officers.

  • Welfare Benefit Plans During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Long Term Disability Benefit In the event an employee, while covered under this plan, becomes totally disabled as a result of an accident or a sickness, then, after the employee has been totally disabled for seven (7) months, including periods approved in Section 1.3(a) and (c), he/she shall be eligible to receive a monthly benefit as follows:

  • Long Term Disability Benefits A benefit level of seventy percent (70%) of monthly earnings shall apply. Benefits would commence after a waiting period of seventeen (17) weeks, when Short Term Disability Benefits terminate. Terms of the Master Policy with the Insurance Company shall apply. Statement of Intent In order to go on LTD, the person must:

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