Common use of Continuation of Welfare Benefits Clause in Contracts

Continuation of Welfare Benefits. Notwithstanding anything contained herein to the contrary, if the Executive is entitled to receive the Change-in-Control Payment, the Company or its successor shall continue to pay premiums on behalf of the Executive, as if the Executive were still an employee of the Company, in the medical, dental, hospitalization and life insurance plans, programs and/or arrangements of the Company or any of its subsidiaries in which the Executive was participating on the Termination Date on the same terms and conditions as other employees under such plans, programs and/or arrangements until the earlier of (i) the end of the 24-month period following the Termination Date or (ii) the date, or dates, the Executive is entitled to receive substantially equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis). The Executive shall be eligible to continue his benefits through COBRA at his own expense, to the extent provided by law.

Continuation of Welfare Benefits. Notwithstanding anything contained herein to the contrary, if the Executive is entitled to receive the Change-in-Control Payment, the Company or its successor shall continue to pay premiums on behalf of the Executive, as if the Executive were still an employee of the Company, in the medical, dental, hospitalization and life insurance plans, programs and/or arrangements of the Company or any of its subsidiaries in which the Executive was participating on the Termination Date on the same terms and conditions as other employees under such plans, programs and/or arrangements until the earlier of (i) the end of the 2436-month period following the Termination Date or (ii) the date, or dates, the Executive is entitled to receive substantially equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis). The Executive shall be eligible to continue his benefits through COBRA at his own expense, to the extent provided by law.