FirstMerit Corporation Executive Long-Term Disability Benefit Summary
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Summary
This document outlines the long-term disability benefit provided by FirstMerit Corporation to its executive officers. If an executive is unable to work due to illness or injury for more than 180 days, they are eligible to receive 66 2/3% of their salary and bonus (as paid in the last six months), up to a maximum of $25,000 per month for executive officers other than the CEO. FirstMerit pays the full premium for this benefit.
EX-10.21 17 l34889aexv10w21.htm EX-10.21 EX-10.21
EXHIBIT 10.21
FIRSTMERIT CORPORATION
LONG-TERM DISABILITY BENEFIT SUMMARY
LONG-TERM DISABILITY BENEFIT SUMMARY
The following narrative describes the executive long-term disability benefit provided to executive officers of FirstMerit Corporation (“FirstMerit”):
FirstMerit’s executive long-term disability benefit covers participating executives for 66 2/3% of salary and bonus paid in the last six months in the event the executive is unable to perform his or her job due to illness or injury lasting over 180 days and beginning after the executive is disabled more than 180 days. FirstMerit pays the premium for this benefit for eligible executives. For participating executive officers (excluding the CEO), the maximum benefit is $25,000 per month.
