Long-Term Disability Insurance Program Summary for Employees and Executive Officers
This document outlines the company's long-term disability insurance program for all employees. The program provides up to 60% of salary, bonus, and incentive compensation as a monthly benefit. Executive officers can receive up to $25,000 per month and may purchase additional coverage up to $5,000, provided the total does not exceed 75% of their monthly covered compensation. Other employees have a monthly benefit cap of $10,000. The program is fully insured and applies to all employees.
Exhibit 10.2R
The Company offers a fully-insured long-term disability program for all employees that provides a benefit of up to 60 percent of salary, bonus and incentive compensation (“covered compensation”). Monthly benefits for executive officers are capped at $25,000. Executive officers are permitted to purchase up to $5,000 per month in additional coverage, so long as the total monthly benefit does not exceed 75 percent of monthly covered compensation. Monthly benefits for other employees are capped at $10,000.
