Common use of Continued Health Benefits Clause in Contracts

Continued Health Benefits. On and after a Qualified Termination, the Executive shall be entitled to continue, for as long as he lives, his participation and that of his qualified dependents, if any, in the Company's group health plan for active employees in which the Executive participated immediately prior to such Qualified Termination provided that the Executive continues to pay the regular active employee premium, if any, required by such plan; however, in the event that continued participation by the Executive in such plan after the date of his Qualified Termination is not permitted by the plan or such plan is terminated or benefits under such plan would be taxable to the Executive, the Company shall either obtain comparable coverage under another group health plan of the Company (and under which benefits to the Executive would not be taxable) or, if there is none, an individual insurance policy providing comparable benefits with the Executive paying an amount of the premium therefor that is not greater than that which he would have been required to pay from time to time under the Company's group health plan for active employees had his participation continued in such plan and the Company paying the balance of such cost and any taxes on any income the Executive would have as a result of such Company-provided coverage.

Continued Health Benefits. On and or after a Qualified Terminationthe Executive's termination of employment, the Executive shall be entitled to continue, for as long as he lives, his participation and that of his qualified dependents, if any, in the Company's group health plan for active employees in which the Executive participated immediately prior to such Qualified Termination termination of employment provided that the Executive continues to pay the regular active employee premium, if any, required by such plan; however, in the event that continued participation by the Executive in such plan after the date of his Qualified Termination employment termination is not permitted by the plan or such plan is terminated or benefits under such plan would be taxable to the Executive, the Company shall either obtain comparable coverage under another group health plan of the Company (and under which benefits to the Executive would not be taxable) or, if there is none, an individual insurance policy providing comparable benefits with the Executive paying an amount of the premium therefor that is not greater than that which he would have been required to pay from time to time under the Company's group health plan for active employees had his participation continued in such plan and the Company paying the balance of such cost and any taxes on any income the Executive would have as a result of such Company-provided coverage.