Continued insurance benefits. Receive credit for annual salary increments granted during leave except in cases of sick leave or part-time assignment where service is not rendered for seventy-five (75) percent of the days in the academic calendar.
Continued insurance benefits. Subject to section 2(b), if the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason within 24 months after a Change in Control, Cortland Bancorp shall cause to be continued medical, dental, accident, disability, and life insurance coverage substantially identical to the coverage maintained for the Executive before employment termination, in accordance with the same schedule prevailing before employment termination, and on substantially the same terms and conditions prevailing before employment termination (including cost of coverage to Cortland Bancorp and the Bank). The insurance coverage shall continue until the first to occur of (x) the Executive’s return to employment with Cortland Bancorp, the Bank, or another employer, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates.
Continued insurance benefits. Provided that Executive elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), the Company shall pay the premiums for Executive's group medical, dental and vision coverage, including coverage for Executive's eligible dependents for the Continuation Period or, if shorter, for the duration of the COBRA continuation period; provided, however, that no such premium payments shall be made following the effective date of Executive's coverage by a medical, dental or vision insurance plan of a subsequent employer. Executive shall be required to notify the Company in writing immediately if Executive becomes covered by a medical, dental or vision insurance plan of a subsequent employer. No provision of this Agreement will affect the continuation coverage rules under COBRA, except that the Company's payment of any applicable insurance premiums during the Continuation Period will be credited as payment by Executive for purposes of Executive's payments required under COBRA. Therefore, the period during which Executive elect to continue the Company's group medical coverage at his own expense under COBRA, the length of time during which COBRA coverage will be made available to Executive, and all other rights and obligations of Executive under COBRA (except the obligation to pay insurance premiums that the Company pays during the Continuation Period) will be applied in the same manner that such rules would apply in the absence of this Agreement. At the conclusion of the Continuation Period, Executive shall be responsible for the entire payment of premiums required under COBRA for the duration of the COBRA continuation period. For purposes of this Section 2(b), applicable premiums that will be paid by the Company during the Continuation Period shall not include any amounts payable by Executive under a Section 125 health care reimbursement plan, which amounts, if any, are the sole responsibility of Executive.
Continued insurance benefits. The Company will provide Employee continued coverage under the Company's Employee Health Plan, including dental and vision coverage, AD&D Plan, and Contributory Life and Dependent Life Insurance Plans at the employee rate through the 52 week Severance Period if: (a) Employee was enrolled in that particular coverage on the Termination Date; (b) Employee elects to receive that continued coverage; and (c) Employee makes timely payment of the employee-rate contribution premiums for each of the coverages Employee elects. Employee's separate eligibility for continuation of health insurance as provided by the federal law known as COBRA begins to run at the termination date.
Continued insurance benefits. The Company will provide Employee and/or Employee’s spouse continued coverage under the Company’s Employee Health Plan for all coverages in which Employee and/or Employee’s spouse are currently enrolled until December 31, 2016 if (a) Employee elects to receive that continued coverage; and (b) Employee makes timely payment of the employee-rate contribution premiums for each of the coverages Employee elects. Employee's separate eligibility for continuation of health insurance as provided by the federal law known as COBRA begins to run at the Termination Date. After December 31, 2016, the Company will make reasonable efforts to assist you in locating an individual medical policy for you (and your spouse if enrolled) with coverage substantially similar to the CNA Retiree Medical policy in effect on January 1, 2017 for retirees with age 62 and 10 years of service or, if such policy is not available, the Company will make reasonable efforts to locate an individual medical policy for you (and your spouse if enrolled) with coverage substantially similar to the CNA Retiree Medical policy in effect Initials of the Parties For the Company /s/TP Employee /s/RL on July 9, 2009 (the date of your offer letter with the Company) for retirees with age 62 and 10 years of service, provided that for either option Employee and/or Employee’s spouse: (i) cooperate fully with the Company in locating and securing said coverage and (ii) pay the amount equal to the full cost of the “you only” (or “you + spouse” coverage, if applicable) paid by a retiree aged 62 with 10 years of service under the CNA Retiree Medical policy then in effect or, if the retiree plan is no longer in effect, pay an amount equal to the Company’s actual full costs of an existing employee under the Company’s Employee Health Plan then in effect. Notwithstanding the previous sentences in this paragraph 3, the Company will not have any obligation to provide any such continued coverage: (y) in Employee’s case, after the date Employee becomes eligible for coverage under another employer’s medical plan or the date Employee becomes eligible for Medicare, whichever comes first; and (z) in the case of Employee’s spouse, after the date Employee or Employee’s spouse becomes eligible for coverage under another employer’s medical plan or the date Employee’s spouse becomes eligible for Medicare, whichever comes first.
