Salary continuation program Sample Clauses
Salary continuation program. Subject to Executive being able to qualify under a bank-owned life insurance program, Executive shall be eligible to participate in a Hacienda sponsored salary continuation program pursuant to which Executive will be entitled to receive a benefit of $2,500 per month for 180 months upon retirement at the age of 65.
Salary continuation program. In the event of catastrophic illness or injury to an employee regardless of whether such illness or injury is incurred on or off duty, and regardless of date of hire, the District will continue to pay 100% of such employee’s regular salary while the employee is not working and during the time after Workers’ Compensation benefits have ceased (for on duty injury) and after the employee has exhausted all accrued sick leave, vacation leave, and compensatory time, if any, until disability payments commence under the applicable FPPA disability policies, or for a period of one year from the commencement of the employee’s initial absence on sick or injury leave, whichever occurs first. Only one catastrophic leave may be taken for any one catastrophic illness or injury. The board of directors shall have sole discretion, in cases of recurring illness or injury, which takes place within any given year, to allow another catastrophic leave after the initial catastrophic leave has been used for the same illness or injury.
