CERTAIN INSURANCE BENEFITS Sample Clauses
CERTAIN INSURANCE BENEFITS. (i) In the event of the termination of the Executive’s employment under this Agreement due to “retirement” (as hereinafter defined), the Employer shall continue to provide the following benefits to the Executive, at the expense of the Employer, until the Executive’s death: (A) continuing coverage for the Executive and the Executive’s Spouse under the Employer’s health, medical, hospitalization and life insurance programs (including dental, vision and prescription drug coverage, if provided immediately prior to the termination); and (B) long term care insurance in accordance with paragraph (f) (LONG TERM CARE INSURANCE) of Section 3 above including making all required payments relating to such insurance coverage. The term “retirement” for purposes of this paragraph (g) shall mean the Executive: (a) terminates employment at or after the attainment of age 62; and (b) does not engage in any form of gainful employment on or after his termination of employment. The continued coverage under this subparagraph (g)(i) shall be for benefits at a level equivalent to the Executive’s benefits at the time of the Executive’s termination of employment. The continued coverage under this subparagraph (g)(i) shall terminate upon the Executive’s engaging in any gainful employment on or after his termination of employment.
(ii) After the occurrence of a Change in Control, the Employer shall continue to provide the following benefits to the Executive, at the expense of the Employer, until the Executive’s death: (A) continuing coverage that is equivalent to the coverage provided under the Employer’s health, medical, hospitalization and life insurance programs (including dental, vision and prescription drug coverage, if provided immediately prior to the termination) maintained by the Employer at the time of the Change in Control; and (B) long term care insurance in accordance with paragraph (f) (LONG TERM CARE INSURANCE) of Section 3 above including making all required payments relating to such insurance coverage.
(iii) In the event of the termination of the Executive’s employment under this Agreement other than as contemplated above in this paragraph (g) or pursuant to paragraph (c) (TERMINATION FOR CAUSE) of Section 5 above, at the election of the Executive (including the estate of the Executive) and the Executive’s Spouse and provided such action is not prohibited by the policy pursuant to which the Executive receives the benefit contemplated in paragraph (f) (LONG TERM CARE IN...
CERTAIN INSURANCE BENEFITS. If the employment of Employee is terminated by the Company without Cause, or due to the death or disability of Employee, or by Employee With Good Reason, the Company shall pay the insurance premium payable by Employee or his heirs, as the case may be, for continued insurance coverage under the insurance policies or programs of the Company pursuant to COBRA for or with respect to the first twelve (12) months of such COBRA coverage.
CERTAIN INSURANCE BENEFITS. If the group life insurance program provided by the Company at no cost to employees does not permit coverage for Executive equal to at least ten times Executive’s annual base salary, the Company will reimburse Executive for the premium cost of additional term life coverage for the difference between ten times Executive’s annual base salary and the amount of coverage provided by the Company at no cost to the Executive, up to a maximum reimbursement of $20,000 annually on an pre-tax basis and subject to tax withholding.