Examples of Disability Date in a sentence
In the event that Mr. Hobbs or Mr. Marcus becomes disabled (as defined in the Agreements) during the term of the applicable Agreement, the Company will continue to pay such executive s full compensation through the last day of the sixth consecutive month of disability or the date on which any shorter periods of disability will have equaled a total of six months in any twelve-month period (such last day or date, the Disability Date ).
Thereafter, the Company will pay such executive disability benefits for twenty-four (24) months after the Disability Date (theDisability Period ) in an annual amount equal to 75% of such executive s Base Salary and Target Bonus in effect on the Disability Date, as well as provide for continued participation in the Company s benefit plans and programs in accordance with plan terms and applicable law.
If the executive has not resumed his usual duties on or prior to the Disability Date, the Company will terminate such executive s employment effective as of the Disability Date and pay such executive a pro-rata bonus based on the Company s actual achievement of the performance criteria established for the year in which the Disability Date occurs.