Define: Permanent Disability
What does "Permanent Disability" mean? The meaning differs based on the contract. We found 3 definitions across 3 companies in SEC filings.
Definition 1 (CISCO SYSTEMS, INC., seen in 1 filing)
Permanent Disability means the inability of Optionee to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which is expected to result in death or has lasted or can be expected to last for a continuous period of twelve (12) months or more.
Source: CISCO SYSTEMS, INC. 10-K
Definition 2 (ESTEE LAUDER COMPANIES INC, seen in 1 filing)
Permanent Disability means any disability as defined under the Company’s applicable disability insurance policy or, if no such policy is available, any physical or mental disability or incapacity that renders a participant incapable of performing the services required of the participant in accordance with their obligations under their employment agreement, if any, for a period of six (6) consecutive months or for shorter periods aggregating six (6) months during any twelve-month period.
Source: ESTEE LAUDER COMPANIES INC 10-K
Definition 3 (Broadcom Inc., seen in 1 filing)
Permanent Disability means the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.
Source: Broadcom Inc. 8-K
Data extracted from 12 SEC EDGAR filings across 3 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.