Common use of Benefits Upon Retirement Clause in Contracts

Benefits Upon Retirement. Employer shall establish an executive retirement plan (“the Kforce Executive Retirement Plan”) in which Executive shall be entitled to participate according to its terms and conditions. Employer shall also establish a health, dental and vision plan for retired executives (“the Retirement Health Plan”) in which Executive shall be entitled to participate according to its terms and conditions. Should Executive retire while employed by Kforce, and qualify for retirement benefits under the Kforce Executive Retirement Plan, Executive will be eligible to elect at that time, on behalf of himself and his spouse, to participate in the Retirement Health Plan. If Executive elects to participate in the Retirement Health Plan at retirement, Employer shall maintain such plan in existence until the death (or election to cease participating) of Executive and Executive’s participating spouse.