Common use of Continuation of Benefits Clause in Contracts

Continuation of Benefits. Until the second anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's spouse and dependents with medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 13 contracts

Samples: Aramark Worldwide Corp, Aramark Worldwide Corp, Aramark Worldwide Corp

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Continuation of Benefits. Until the second anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's spouse and dependents with medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 65.

Appears in 5 contracts

Samples: Agreement (Aramark Worldwide Corp), Agreement for President (Aramark Worldwide Corp), Agreement (Aramark Worldwide Corp)

Continuation of Benefits. Until the second anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's his or her spouse and dependents with medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 1 contract

Samples: Termination Protection Agreement (Seagram Co LTD)

Continuation of Benefits. Until the second third anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's his or her spouse and dependents with medical, life insurance and disability 3 -3 coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 1 contract

Samples: Termination Protection Agreement (Seagram Co LTD)

Continuation of Benefits. Until the second anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's his or her spouse and dependents with medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing 3 3 coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 1 contract

Samples: Termination Protection Agreement (Seagram Co LTD)

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Continuation of Benefits. Until the second thirty-month anniversary of the Termination Date, the Company shall, shall at its expense, expense provide Executive and Executive's ’s spouse and qualified dependents with medical, medical and life insurance and disability coverages coverage at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 1 contract

Samples: Aramark Agreement (Aramark)

Continuation of Benefits. Until the second third anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive's his spouse and dependents with medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.

Appears in 1 contract

Samples: Termination Protection Agreement (Seagram Co LTD)

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