Common use of Disability Pay Clause in Contracts

Disability Pay. Upon termination of the Executive’s employment pursuant to subsection 8(a)(i), ▇▇▇▇▇▇ Mac shall, if Executive executes and does not revoke a separation agreement, including a full release of claims in favor of ▇▇▇▇▇▇ Mac and its affiliates, in form and substance acceptable to ▇▇▇▇▇▇ Mac within thirty (30) days (or such longer period as required for a valid release under applicable law) following such termination, continue to pay the Executive (or his estate or heirs, as the case may be) for the shorter of (i) twelve (12) months or (ii) the period ending when Executive ceases to receive or be eligible for disability insurance payments, the difference between the Executive’s current Base Salary and the amount of disability insurance payments received by the Executive under insurance policies provided by ▇▇▇▇▇▇ Mac in accordance with this Agreement.

Disability Pay. Upon termination of the Executive’s employment pursuant to subsection 8(a)(i), ▇▇▇▇▇▇ Mac shall, if Executive (or, if applicable, his executor or authorized legal representative) executes and does not revoke a separation agreement, including a full release of claims in favor of ▇▇▇▇▇▇ Mac and its affiliates, in form and substance acceptable to ▇▇▇▇▇▇ Mac within thirty (30) days (or such longer period as required for a valid release under applicable law) following such termination, continue to pay the Executive (or his estate or heirs, as the case may be) for the shorter of (i) twelve (12) months or (ii) the period ending when Executive ceases to receive or be eligible for disability insurance payments, the difference between the Executive’s current Base Salary and the amount of disability insurance payments received by the Executive under insurance policies provided by ▇▇▇▇▇▇ Mac in accordance with this Agreement.