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Common use of Continuation of Welfare Benefits Clause in Contracts

Continuation of Welfare Benefits. If, during the ------------------------------------ Employment Period, the Company terminates the Executive's employment other than for Cause, or following a Change in Control the Executive terminates his employment for Good Reason, the Executive (and, to the extent applicable, his dependents) shall be entitled, after the Date of Termination until the earlier of (1) the third anniversary of the Date - of Termination (the "End Date") and (2) the date the Executive becomes - eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the Company's employee and executive welfare and fringe benefit plans, excluding further vacation pay (the "Benefit Plans"). To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or from the Company's general assets. The Executive's participation in the Benefit Plans will be on the same terms and conditions that would have applied had the Executive continued to be employed by the Company through the End Date.

Appears in 3 contracts

Samples: Employment & Human Resources (National Fuel Gas Co), Employment & Human Resources (National Fuel Gas Co), Employment Continuation and Noncompetition Agreement (National Fuel Gas Co)

Continuation of Welfare Benefits. If, during the ------------------------------------ Employment Period, the Company terminates the Executive's ’s employment other than for Cause, or following a Change in Control the Executive terminates his employment for Good Reason, the Executive (and, to the extent applicable, his dependents) shall be entitled, after the Date of Termination until the earlier of (1) the third eighteen month anniversary of the Date - of Termination (the "End Date") and (2) the date the Executive becomes - eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the Company's ’s employee and executive welfare and fringe benefit plans, excluding further vacation pay (the "Benefit Plans"). To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or from the Company's ’s general assets. The Executive's ’s participation in the Benefit Plans will be on the same terms and conditions that would have applied had the Executive continued to be employed by the Company through the End Date.

Appears in 2 contracts

Samples: Employment Continuation and Noncompetition Agreement (National Fuel Gas Co), Employment Agreement (National Fuel Gas Co)