No that is not possible. If you are to follow the laws of the land, then you should follow it. Of course there are companies who seldom pay anything but just ask the employee to leave the company with a promise that after six months of delivery she can contact and if any vacancy exists she will be considered. These companies also declare that they are employee friendly organisation! But that should not the way in which a company works. No need to give any thing extra but give everything which is their right.
A member of a senior management must be getting higher salary; but her contributions towards the goals of the company would also be higher and that is why she is paid. No establishment will pay just for fancy. Moreover, a managerial person will always have an extended time of working. All these should be considered while she is going for a leave. That means, there should not be any difference in treatment while she is working and while she is unable to work due to physical incapabilities.
Regards,
Madhu.T.K