Common use of Continuation of Welfare Benefits Clause in Contracts

Continuation of Welfare Benefits. Continuation of medical and dental insurance coverage in which the Executive (or his dependents) was participating as of the Date of Termination (subject to such modifications as shall be established for all employees of the Company) until the earliest of: (i) the second anniversary of the Date of Termination; (ii) the date the Executive first breaches the Release Agreement or any restrictive covenant hereunder or in any employment or other agreement with the Company which survives termination of the Executive’s employment; or (iii) the date the Executive becomes eligible under a similar welfare benefit plan of a successor employer. If such coverage cannot be provided on a tax-advantaged basis under the Company’s program, the Company will make a supplemental payment to the Executive such that his after-tax cost of coverage will be no greater than the cost for such coverage to a similarly-situated employee under the program. Any increase in premium cost resulting from a change in the Executive’s coverage election shall be borne by the Executive. In order to receive such continued medical and dental coverage, the Executive must be eligible for and elect continuation coverage under “COBRA” under the terms of the applicable programs for the first 18 months of such coverage.

Continuation of Welfare Benefits. Continuation of medical and dental insurance coverage in which the Executive (or his dependents) was participating as of the Date of Termination (subject to such modifications as shall be established for all employees of the Company) until the earliest of: (i) the second third anniversary of the Date of Termination; (ii) the date the Executive first breaches the Release Agreement or any restrictive covenant hereunder or in any employment or other agreement with the Company which survives termination of the Executive’s employment; or (iii) the date the Executive becomes eligible under a similar welfare benefit plan of a successor employer. If such coverage cannot be provided on a tax-advantaged basis under the Company’s program, the Company will make a supplemental payment to the Executive such that his after-tax cost of coverage will be no greater than the cost for such coverage to a similarly-situated employee under the program. Any increase in premium cost resulting from a change in the Executive’s coverage election shall be borne by the Executive. In order to receive such continued medical and dental coverage, the Executive must be eligible for and elect continuation coverage under “COBRA” under the terms of the applicable programs for the first 18 months of such coverage.