Supplemental Disability Benefits. During the Employment Term, the Company will pay for the applicable premiums for the Executive’s coverage under its existing supplemental disability policy.
Supplemental Disability Benefits. In the event of Disability of Executive (as hereinafter defined), the majority of Titan’s Board of Directors as then constituted, at its election and upon 30 days written notice to Executive, may terminate the employment of Executive under this Agreement effective as of the last day of the month within which the end of such 30-day period occurs (the “Disability Termination Date”). For purposes of this Agreement the term “Disability” shall mean the inability of Executive to engage in his regular occupation as a senior executive officer of a corporation generally comparable to Titan at a level of compensation commensurate with his education, training and experience for a substantially continue period which has extended or will foreseeable extend beyond six months in duration as a result of sickness, bodily injury, or mental or emotional disease or disorder of any type, excluding attempted suicide or intentionally self-inflicted injury. Upon termination of the employment of Executive by reason of Disability, the liabilities of Titan will be as follows:
Supplemental Disability Benefits. As soon as practicable following the Effective Date, the Company will adopt, and Executive will be eligible to receive benefits under a supplemental disability benefit plan (the “Supplemental Disability Plan”) that will supplement the benefits provided under the Company’s existing disability benefit plan. The Company will pay the applicable premiums for Executive’s coverage under the Supplemental Disability Plan for the duration of the Employment Term. The Supplemental Disability Plan will increase the maximum aggregate potential monthly disability benefit available to Executive under both plans to the lesser of (i) 65% of Executive’s monthly Base Salary amount, or (ii) $25,000. Executive shall be responsible for all taxes resulting from any receipt of benefits under the Supplemental Disability Plan.
Supplemental Disability Benefits. In the event of Disability of the Executive, the majority of Titan's Board of Directors as then constituted, at its election and upon thirty (30) days written notice to Executive, may terminate the employment of Executive under this Agreement effective as of the last day of the month within which the end of such 30-day period occurs (the "Disability Termination Date"). For purposes of this Agreement the term "Disability" shall mean the inability of Executive to perform his duties and responsibilities as contemplated by this Agreement as a senior executive officer and for a continuous period of time which has extended or will foreseeably extend, in duration, beyond six (6) months from its commencement as a result of sickness, bodily injury, or mental or emotional disease, impairment or disorder of any type, excluding attempted suicide or intentionally self-inflicted injury. Upon termination of Executive’s employment by reason of Disability, as aforesaid, Titan’s obligations will be as follows:
Supplemental Disability Benefits. If the Employee becomes disabled during his employment as an officer of the Company, he will receive benefits under the Long Term Disability Plan of Houston Industries Incorporated as if the term “total disability” under said Plan was defined as an illness or injury which prevents him from performing the duties of an officer of the Company.
Supplemental Disability Benefits. If, prior to the Participant’s Entitlement Date, the Participant terminates as an employee of the Company on account of a Disability, the Company shall pay the Participant the Supplemental Retirement Benefit as described in paragraph ”(a)” of this Section 2, multiplied by the percentage represented by 1.00 minus the product of 0.05 times a whole number equal to the positive difference between sixty-five (65) and the Participant’s age when the Participant terminates on account of a Disability. To illustrate using the case in which termination on account of a Disability occurs: when the Participant is age sixty-one (61), the positive difference between sixty-five (65) and sixty-one (61) is four (4), and 0.05 times 4 is 0.20. The percentage represented by 1.00 minus 0.20 is eighty percent (80%), and according to paragraph ”(a)” of this Section 2, eighty percent (80%) of the Supplemental Retirement Benefit or twenty-four percent (24%) of the Participant’s Base Salary for the calendar year of the Participant’s termination. This benefit shall commence as soon as practicable, but no later than ninety (90) days, after the Participant’s termination as an employee of the Company on account of a Disability and shall be paid monthly each year until fifteen (15) years of complete payments have been made. If the Participant dies prior to receiving payments for fifteen (15) full years, the Participant’s Beneficiary shall receive payments in the same manner as the Participant until fifteen (15) years of complete payments have been made.
Supplemental Disability Benefits. In the event of the Disability of the Executive during the term of this Agreement which qualifies the Executive for disability benefits under any long-term disability plan maintained by an Employer (the "Disability Plan"), beginning upon the date that Executive receives the first payment of disability benefits under the Disability Plan and ending upon the earlier of (i) the expiration of the Remaining Term of employment pursuant hereto prior to the Notice of Termination or (ii) the date upon which such disability benefits under the Disability Plan cease for any reason or (iii) the Date of Termination for other than Disability, the Employers shall supplement such Disability Plan benefits by paying to the Executive the difference between 100% of the Executive's base salary and the disability benefits paid under the Disability Plan, provided that such supplemental disability benefits shall not exceed 50% of the Executive's Base Salary. Notwithstanding the foregoing, the amount of any such supplemental disability payments paid to the Executive shall be offset against any payment due the Executive from the Employer under Section 5(b)(ii) hereof.
Supplemental Disability Benefits. Upon an Initial Public Offering (if any), the Company will pay for the applicable premiums for the Executive’s coverage under his existing supplemental disability policy for the remaining duration of the Employment Term, up to $7,000 per year. The Executive shall be responsible for all taxes resulting from any receipt of such benefits.
Supplemental Disability Benefits. In the event of Disability of Executive (as hereinafter defined), the majority of Titan's Board of Directors as then constituted, at its election and upon 30 days written notice to Executive, may terminate the employment of Executive under this Agreement effective as of the last day of the month within which the end of such 30-day period occurs (the "Disability Termination Date"). For purposes of this Agreement the term "Disability" shall mean the inability of Executive to engage in his regular occupation as
Supplemental Disability Benefits. If Executive suffers a Disability (as defined below) and such Disability occurs both during the Term and prior to Executive’s attainment of the statutory retirement age then in effect under Section 4 of the Retirement Age Law, 5764-2004 (or any successor rule)(the “Statutory Retirement Age”), Vishay Israel shall provide Executive with monthly disability benefits equal to (x) 60% of the sum of (a) the Base Salary at the time of Disability and (b) the average of the annual bonuses paid to Executive under Section 4.2 in the three calendar years ending prior to the year benefits under this paragraph are scheduled to commenced, divided by (y) twelve; provided that such payments will (to the extent permitted by Section 409A of the Internal Revenue Code) be reduced by (i) any disability benefits payable to Executive under group plans or policies funded by Vishay, Vishay Israel or their affiliates, (ii) any disability benefits payable to Executive under any state-sponsored social insurance program, and (iii) ILS 90,000 per month. Disability benefits under this paragraph will commence three months following the onset of Disability and will continue until the earliest of (1) the cessation of such Disability, (2) Executive’s death, and (3) Executive’s attainment of the Statutory Retirement Age. For this purpose, “Disability” will have the meaning defined in Treas. Reg. § 1.409A-3(i)(4)(i)(A) and will be determined by the examination of a physician selected by Vishay and reasonably acceptable to Executive. Vishay or Vishay Israel, as applicable, shall deduct from any disability benefit payable to the Executive any tax and compulsory payment as required by any applicable law.
