Common use of Benefits; Miscellaneous Clause in Contracts

Benefits; Miscellaneous. In the event the Executive is entitled to severance benefits pursuant to subsection 6 (a)(i) (other than as a result of the Executive's death), then in addition to such benefits, the Company shall continue to provide the Executive, for thirty-six (36) months after the Termination Date, welfare benefits or such comparable alternative welfare benefits as the Company may, in its discretion, determine to be sufficient to satisfy its obligations to the Executive under this Agreement (including, without limitation, medical, prescription, dental, disability, individual life, group life, accidental death and travel accident plans and programs) which are at least as favorable as the most favorable plans of the Company applicable to other peer executives and their families as of the Termination Date. Notwithstanding the foregoing, if the Executive is covered under any medical, life, or disability insurance plan(s) provided by a subsequent employer, then the amount of coverage required to be provided by the Company hereunder shall be reduced by the amount of coverage provided by the subsequent employer's medical, life or disability insurance plan(s). The Executive's rights under this Section 6(b) shall be in addition to, and not in lieu of, any post-termination continuation coverage or conversion rights the Executive may have pursuant to applicable law, including without limitation, continuation coverage required by Section 4980B of the Internal Revenue Code.

Appears in 17 contracts

Samples: Management Continuity Agreement (Fremont General Corp), Management Continuity Agreement (Fremont General Corp), Management Continuity Agreement (Fremont General Corp)

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Benefits; Miscellaneous. In the event the Executive is entitled to severance benefits pursuant to subsection 6 4 (a)(i) (other than as a result of the Executive's death), then in addition to such benefits, the Company shall continue to provide the Executive, for thirty-six (36) months after the Termination Date, welfare benefits or such comparable alternative welfare benefits as the Company may, in its discretion, determine to be sufficient to satisfy its obligations to the Executive under this Agreement (including, without limitation, medical, prescription, dental, disability, individual life, group life, accidental death and travel accident plans and programs) which are at least as favorable as the most favorable plans of the Company applicable to other peer executives and their families as of the Termination Date. Date Notwithstanding the foregoing, if the Executive is covered under any medical, life, or disability insurance plan(s) provided by a subsequent employer, then the amount of coverage required to be provided by the Company hereunder shall be reduced by the amount of coverage provided by the subsequent employer's medical, life or disability insurance plan(s). The Executive's rights under this Section 6(b4(b) shall be in addition to, and not in lieu of, any post-termination continuation coverage or conversion rights the Executive may have pursuant to applicable law, including without limitation, continuation coverage required by Section 4980B of the Internal Revenue Code.

Appears in 5 contracts

Samples: Employment Agreement (Fremont General Corp), Employment Agreement (Fremont General Corp), Employment Agreement (Fremont General Corp)

Benefits; Miscellaneous. In the event the Executive is entitled to severance benefits pursuant to subsection 6 4 (a)(i) (other than as a result of the Executive's ’s death), then in addition to such benefits, the Company shall continue to provide the Executive, for thirty-six (36) months after the Termination Date, welfare benefits or such comparable alternative welfare benefits as the Company may, in its discretion, determine to be sufficient to satisfy its obligations to the Executive under this Agreement (including, without limitation, medical, prescription, dental, disability, individual life, group life, accidental death and travel accident plans and programs) which are at least as favorable as the most favorable plans of the Company applicable to other peer executives and their families as of the Termination Date. Notwithstanding the foregoing, if the Executive is covered under any medical, life, or disability insurance plan(s) provided by a subsequent employer, then the amount of coverage required to be provided by the Company hereunder shall be reduced by the amount of coverage provided by the subsequent employer's ’s medical, life or disability insurance plan(s). The Executive's ’s rights under this Section 6(b4(b) shall be in addition to, and not in lieu of, any post-termination continuation coverage or conversion rights the Executive may have pursuant to applicable law, including without limitation, continuation coverage required by Section 4980B of the Internal Revenue Code.

Appears in 2 contracts

Samples: Employment Agreement (Fremont General Corp), Employment Agreement (Fremont General Corp)

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Benefits; Miscellaneous. In the event the Executive is entitled to severance benefits pursuant to subsection 6 (a)(i) (other than as a result of the Executive's ’s death), then in addition to such benefits, the Company shall continue to provide the Executive, for thirty-six (36) months after the Termination Date, welfare benefits or such comparable alternative welfare benefits as the Company may, in its discretion, determine to be sufficient to satisfy its obligations to the Executive under this Agreement (including, without limitation, medical, prescription, dental, disability, individual life, group life, accidental death and travel accident plans and programs) which are at least as favorable as the most favorable plans of the Company applicable to other peer executives and their families as of the Termination Date. Notwithstanding the foregoing, if the Executive is covered under any medical, life, or disability insurance plan(s) provided by a subsequent employer, then the amount of coverage required to be provided by the Company hereunder shall be reduced by the amount of coverage provided by the subsequent employer's ’s medical, life or disability insurance plan(s). The Executive's ’s rights under this Section 6(b) shall be in addition to, and not in lieu of, any post-termination continuation coverage or conversion rights the Executive may have pursuant to applicable law, including without limitation, continuation coverage required by Section 4980B of the Internal Revenue Code.

Appears in 1 contract

Samples: Management Continuity Agreement (Fremont General Corp)

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