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Petitioner suffered a stroke in or about August of 1993. He
was in rehabilitation from the effects of the stroke until
December 31, 1994.
On September 20, 1994, petitioner and NHP executed a
separation agreement pursuant to which petitioner (1) resigned
his positions as executive vice president, chief financial
officer, and treasurer, and (2) assumed the position of special
assistant to the chairman for financial affairs. Petitioner’s
resignation was deemed effective as of March 31, 1994. The
separation agreement further provided that petitioner’s
employment by NHP would end on December 31, 1994.
The separation agreement obligated NHP to compensate
petitioner in the following manner: Through September of 1994,
petitioner was to receive his full monthly salary, $19,500; for
October through December of 1994, petitioner was to receive half
of his monthly salary, $9,750.
The separation agreement provided that up to $6,000 of the
monthly compensation petitioner was to receive could come in the
form of disability benefits paid by NHP’s insurer, Metro-Life
Insurance Co. (hereinafter sometimes referred to as Metro-Life).
NHP’s obligation to compensate petitioner was offset, dollar for
dollar, by the amount of disability benefits Metro-Life paid to
petitioner. If the combination of the disability benefits Metro-
Life paid and the compensation NHP paid to petitioner exceeded
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