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Common use of Benefits Continuation Clause in Contracts

Benefits Continuation. (i) In the event of Executive's Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six (6) months from the date of termination of employment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 12 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's ’s Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six (6) months from the date of termination of employment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's ’s group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's ’s 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 11 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's ’s Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six (6) months from the date of termination Termination of employmentEmployment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's ’s group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's ’s 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 10 contracts

Samples: Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc), Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's ’s Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six twelve (612) months from the date of termination Termination of employmentEmployment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's ’s group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's ’s 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 1 contract

Samples: Chief Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's ’s Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six twelve (612) months from the date of termination of employment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's ’s group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's ’s 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 1 contract

Samples: Chief Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six twelve (612) months from the date of termination of employment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 1 contract

Samples: Chief Executive Officer Benefits Agreement (Power Integrations Inc)

Benefits Continuation. (i) In the event of Executive's Termination of Employment, Executive shall be entitled to elect continued medical and dental insurance coverage in accordance with the applicable provisions of COBRA and the Company shall pay such COBRA premiums for six twelve (612) months from the date of termination Termination of employmentEmployment. Notwithstanding the above, in the event Executive becomes eligible to be covered under another employer's group health plan (other than a plan which imposes a preexisting condition exclusion unless the preexisting condition exclusion does not apply) during the period provided for herein, the Company shall cease payment of the COBRA premiums; and (ii) Executive shall receive the benefits, if any, under the Company's 401(k) Plan and other Company benefit plans to which he may be entitled pursuant to the terms of such plans.

Appears in 1 contract

Samples: Chief Executive Officer Benefits Agreement (Power Integrations Inc)