Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or (3) the Executive resigns for Good Reason then: (a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive and the Executive’s dependents as participants in the health, dental, life, accident, disability and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary of the Termination Date. (b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the period set forth in subparagraph (a) (not to exceed applicable COBRA continuation coverage period), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a). (c) If the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
Appears in 7 contracts
Samples: Employment Agreement (Primo Water Corp), Employment Agreement (Primo Water Corp), Employment Agreement (Primo Water Corp)
Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the health, dental, life, accident, disability dental and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1242-month anniversary of the Termination Date, and in the life, accident, and disability insurance plans offered to (and on the same terms as) other Senior Executives until the 24-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the period set forth in subparagraph (a) (not to exceed applicable COBRA continuation coverage period), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds Following the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
Appears in 3 contracts
Samples: Employment Agreement (Comsys It Partners Inc), Employment Agreement (Comsys It Partners Inc), Employment Agreement (Comsys It Partners Inc)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1224-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the same period set forth as provided in subparagraph (a) (not to exceed applicable COBRA continuation coverage period)or as permitted by law, but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company, the Executive (if living) and the Executive’s dependents will be entitled to elect to maintain coverage under such insurance and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 3 contracts
Samples: Employment Agreement (Comsys It Partners Inc), Employment Agreement (Comsys It Partners Inc), Employment Agreement (Comsys It Partners Inc)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1224-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the same period set forth as provided in subparagraph (a) (not to exceed applicable COBRA continuation coverage period)or as permitted by law, but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company, the Executive (if living) and the Executive’s dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 2 contracts
Samples: Employment Agreement (Comsys It Partners Inc), Employment Agreement (Comsys It Partners Inc)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause Cause, or (2) the Executive resigns for Good Reason, or (3) the Executive resigns for Good Reason dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s 's dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s 's dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, COBRA as in the plans referred to the extent applicable, for the period set forth in subparagraph (a) ), for the same period as provided in subparagraph (not to exceed applicable COBRA continuation coverage perioda), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive's death, or if the Executive dies before the expiration of the Company’s 's obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s 's dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s 's death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company the Executive (if living) and the Executive's dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 2 contracts
Samples: Executive Employment Agreement (Bindview Development Corp), Executive Employment Agreement (Bindview Development Corp)
Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the health, dental, life, accident, disability dental and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1242-month anniversary of the Termination Date, and in the life, accident, and disability insurance plans offered to (and on the same terms as) other Senior Executives until the 24-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall will reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the period set forth in subparagraph (a) (not to exceed applicable COBRA continuation coverage period), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds Following the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shallwill, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
Appears in 1 contract
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause Cause, or (2) the Executive resigns for Good Reason, or (3) the Executive resigns for Good Reason dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s 's dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until Executives, for the 12-month anniversary same number of months as the number of months over which installments of the Termination DateSeverance Payment are to be paid per Section 6.1.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s 's dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, COBRA as in the plans referred to the extent applicable, for the period set forth in subparagraph (a) ), for the same period as provided in subparagraph (not to exceed applicable COBRA continuation coverage perioda), but solely to the extent that such expenses exceed the deduction or amount that would have Executive Employment Agreement EXECUTIVE: ------------ been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive's death, or if the Executive dies before the expiration of the Company’s 's obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s 's dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s 's death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company the Executive (if living) and the Executive's dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 1 contract
Samples: Executive Employment Agreement (Bindview Development Corp)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause Cause, or (2) the Executive resigns for Good Reason, or (3) the Executive resigns for Good Reason dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s 's dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s 's dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, COBRA as in the plans referred to the extent applicable, for the period set forth in subparagraph (a) ), for the same period as provided in subparagraph (not to exceed applicable COBRA continuation coverage perioda), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive's death, or if the Executive dies before the expiration of the Company’s 's obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s 's dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s 's EXECUTIVE: ERIC J. PULASKI death, at the same coverage levels and for the same period xxx xxx xxxx xeriod of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company the Executive (if living) and the Executive's dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 1 contract
Samples: Executive Employment Agreement (Bindview Development Corp)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause Cause, or (2) the Executive resigns for Good Reason, or (3) the Executive resigns for Good Reason dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s 's dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary executives of the Termination DateCompany of comparable position and responsibility, for the same number of months as the number of months over which installments of the Severance Payment are to be paid per Section 6.1.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s 's dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, COBRA as in the Executive Employment Agreement EXECUTIVE: XXXXX X. FLAME plans referred to the extent applicable, for the period set forth in subparagraph (a) ), for the same period as provided in subparagraph (not to exceed applicable COBRA continuation coverage perioda), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive's death, or if the Executive dies before the expiration of the Company’s 's obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s 's dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s 's death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company the Executive (if living) and the Executive's dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 1 contract
Samples: Executive Employment Agreement (Bindview Development Corp)
Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause Cause, or (2) the Executive resigns for Good Reason, or (3) the Executive resigns for Good Reason dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, COBRA as in the plans referred to the extent applicable, for the period set forth in subparagraph (a) ), for the same period as provided in subparagraph (not to exceed applicable COBRA continuation coverage perioda), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, shall continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company the Executive (if living) and the Executive’s dependents will be entitled to elect to maintain coverage under such insurance- and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 1 contract
Samples: Executive Employment Agreement (Bindview Development Corp)
Continuation of Insurance and Related Benefits. If If
(1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the life, health, dental, life, accident, disability insurance, and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1224-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall will reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the same period set forth as provided in subparagraph (a) (not to exceed applicable COBRA continuation coverage period)or as permitted by law, but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, will continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
(d) Following the expiration of such coverage period by the Company, the Executive (if living) and the Executive’s dependents will be entitled to elect to maintain coverage under such insurance and benefit plans in accordance with COBRA to the fullest extent available under law.
Appears in 1 contract
Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or (3) the Executive resigns for Good Reason then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive and the Executive’s dependents as participants in the health, dental, life, accident, disability and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 12-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the period set forth in subparagraph (a) (not to exceed applicable COBRA continuation coverage period), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
Appears in 1 contract
Continuation of Insurance and Related Benefits. If (1) the Company does not renew the Agreement at the end of the Original Term or any Renewal Term, (2) the Employment is terminated by the Company other than for Cause or Cause, (3) the Executive resigns for Good Reason Reason, (4) the Executive is terminated due to a Disability pursuant to Section 5.2 of this Agreement or (5) the Executive dies, then:
(a) The Company shall, to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, maintain the Executive (if living) and the Executive’s dependents as participants in the health, dental, life, accident, disability dental and similar benefit plans offered to (and on the same terms as) other Senior Executives until the 1242-month anniversary of the Termination Date, and in the life, accident and disability insurance plans offered to (and on the same terms as) other Senior Executives until the 24-month anniversary of the Termination Date.
(b) To the extent that applicable law or the terms and conditions of the applicable insurance or benefit plan do not permit the Company to comply with subparagraph (a), the Company shall reimburse the Executive (if living) and the Executive’s dependents, for all expenses incurred by any of them in maintaining the same levels of coverage under COBRA, to the extent applicable, for the period set forth in subparagraph (a) (not to exceed applicable COBRA continuation coverage period), but solely to the extent that such expenses exceed the deduction or amount that would have been required to be paid by the Executive for such coverage if the Employment had not been terminated. If the period set forth in subparagraph (a) exceeds Following the applicable COBRA continuation coverage period, then following such period, if any, the Company shall provide the Executive (if living) and the Executive’s dependents with substantially similar levels of coverage under an individual or group policy for the duration of the time period specified in subparagraph (a).
(c) If Employment is terminated by the Executive’s death, or if the Executive dies before the expiration of the Company’s obligation under this Section 6.2, then the Company shall, shall to the greatest extent permitted by applicable law and the terms and conditions of the applicable insurance or benefit plan, continue to maintain coverage for the Executive’s dependents under all insurance plans referred to in this Section 6.2 for which such dependents had coverage as of the date of the Executive’s death, at the same coverage levels and for the same period of time as would have been required had the Executive not died.
Appears in 1 contract