Staples, Inc. Senior Executive Long Term Disability Supplemental Coverage Reimbursement Policy

 

Coverage under the Company's Group Long Term Disability (LTD) Plan, which only covers base salary, and Supplemental LTD Plan, which covers any excess base salary and bonus, are fully paid for by our associates.  For senior executives earning an annual base salary in excess of $400,000 and electing supplemental LTD coverage prior to certain changes reducing the maximum monthly benefit,  the Company annually reimburses through bonuses (on a grossed up basis) premiums related to any supplemental LTD coverage due to base salary, and the Company expects such annual aggregate bonuses to be approximately $32,000.