Common use of Certain Welfare Benefits Clause in Contracts

Certain Welfare Benefits. For a number of months equal to thirty-six (36) (the "Continuation Period"), Westport shall at its expense continue on behalf of the Employee and his or her dependents and beneficiaries the life insurance, disability, medical, dental and hospitalization coverages and benefits provided to the Employee immediately prior to the Change in Control or, if greater, the coverages and benefits provided at any time thereafter. The coverages and benefits (including deductibles and costs) provided in this Section 4(c) during the Continuation Period shall be no less favorable to the Employee and his or her dependents and beneficiaries, than the most favorable of such coverages and benefits referred to above. Westport's obligation hereunder with respect to the foregoing coverages and benefits shall be reduced to the extent that the Employee obtains any such coverages and benefits pursuant to a subsequent employer's benefit plans, in which case Westport may reduce any of the coverages or benefits it is required to provide the Employee hereunder so long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Employee than the coverages and benefits required to be provided hereunder. Neither this Section 4(c) nor any other provision of this Agreement shall not be interpreted so as to reduce any amounts otherwise payable, or in any way diminish the Employee's rights as an employee of Westport, whether existing now or hereafter, under any benefit, incentive, retirement, stock option, stock bonus, stock purchase plan, or any employment agreement or other plan or arrangement.

Appears in 8 contracts

Samples: Control Severance Protection Agreement (Westport Finance Co), Control Severance Protection Agreement (Westport Finance Co), Control Severance Protection Agreement (Westport Finance Co)

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Certain Welfare Benefits. For a number of months equal to thirty-six (36) (the "Continuation Period"), Westport shall at its expense continue on behalf of the Employee and his or her dependents and beneficiaries the life insurance, disability, medical, dental and hospitalization coverages and benefits provided to the Employee immediately prior to the Change in Control or, if greater, the coverages and benefits provided at any time thereafter. The coverages and benefits (including deductibles and costs) provided in this Section 4(c) during the Continuation Period shall be no less favorable to the Employee and his or her dependents and beneficiaries, than the most favorable of such coverages and benefits referred to above. Westport's ’s obligation hereunder with respect to the foregoing coverages and benefits shall be reduced to the extent that the Employee obtains any such coverages and benefits pursuant to a subsequent employer's ’s benefit plans, in which case Westport may reduce any of the coverages or benefits it is required to provide the Employee hereunder so long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Employee than the coverages and benefits required to be provided hereunder. Neither this Section 4(c) nor any other provision of this Agreement shall not be interpreted so as to reduce any amounts otherwise payable, or in any way diminish the Employee's ’s rights as an employee of Westport, whether existing now or hereafter, under any benefit, incentive, retirement, stock option, stock bonus, stock purchase plan, or any employment agreement or other plan or arrangement.

Appears in 2 contracts

Samples: Control Severance Protection Agreement (Westport Resources Corp /Nv/), Change in Control Severance Protection Agreement (Westport Resources Corp /Nv/)

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Certain Welfare Benefits. For a number of months equal to thirty-six (36) (the "Continuation Period"), Westport shall at its expense continue on behalf of the Employee Officer and his or her dependents and beneficiaries the life insurance, disability, medical, dental and hospitalization coverages and benefits provided to the Employee Officer immediately prior to the Change in Control or, if greater, the coverages and benefits provided at any time thereafter. The coverages and benefits (including deductibles and costs) provided in this Section 4(c) during the Continuation Period shall be no less favorable to the Employee Officer and his or her dependents and beneficiaries, than the most favorable of such coverages and benefits referred to above. Westport's obligation hereunder with respect to the foregoing coverages and benefits shall be reduced to the extent that the Employee Officer obtains any such coverages and benefits pursuant to a subsequent employer's benefit plans, in which case Westport may reduce any of the coverages or benefits it is required to provide the Employee Officer hereunder so long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Employee Officer than the coverages and benefits required to be provided hereunder. Neither this Section 4(c6(c) nor any other provision of this Agreement shall not be interpreted so as to reduce any amounts otherwise payable, or in any way diminish the EmployeeOfficer's rights as an employee Officer of Westport, whether existing now or hereafter, under any benefit, incentive, retirement, stock option, stock bonus, stock purchase plan, or any employment agreement or other plan or arrangement.

Appears in 2 contracts

Samples: Employment Agreement (Westport Resources Corp /Nv/), Employment Agreement (Westport Resources Corp /Nv/)

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