Continued Welfare and Fringe Benefits. The undersigned’s welfare and fringe benefits will continue in accordance with Section 6(b)(iii) of the Change in Control Severance Agreement. The undersigned agrees that he will notify the Company within seven calendar days of becoming eligible under another employer’s medical and/or welfare benefits plan. The Company will make a lump-sum payment in the amount of Two Thousand Seventy Five Dollars and 76/100 ($2,075.76) which is the equivalent of certain welfare benefits that are unavailable to the undersigned after the Termination Date.
Continued Welfare and Fringe Benefits. Commencing on the Release Effective Date and for [MULTIPLE] 1 years thereafter (such period, the “Continuation Period”), the Company shall continue to provide welfare benefits and fringe benefits to the Executive and the Executive’s spouse and dependents at least equal to the levels described in Section 4(e); provided, however, that (A) if the Executive becomes reemployed with another employer and is eligible to receive medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility and (B) to the extent that it is commercially impracticable for the Company to continue to provide the Executive with any of the benefits described in Section 4(e) at the level described in Section 4(e) following termination of the Executive’s employment, the Company shall instead be permitted to make a lump-sum 1 For the President and Chief Financial Officer and the President and Chief Operating Officer, the Multiple will be 3. For each of the other Executives, the Multiple will be 2. A list of Executives who have entered into Change in Control Severance Agreements is attached as Schedule A hereto. cash payment to the Executive in an amount equal to the Company’s aggregate cost of providing such benefit at such level to a similarly situated active employee of the Company or any Subsidiary during the Continuation Period. Nothing in this Section 6(b)(iii) shall operate to reduce, or be construed as reducing, the Executive’s group health plan continuation rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), in any manner and, upon the end of the Continuation Period, the Executive, if otherwise eligible, shall be entitled to elect COBRA continuation coverage for the full period applicable as if the last date of the Continuation Period were the date of the Executive’s termination of employment.
Continued Welfare and Fringe Benefits. The undersigned’s welfare and fringe benefits will continue in accordance with Section 6(b)(iii) of the Change in Control Severance Agreement. The undersigned agrees that he will notify the Company within seven calendar days of becoming eligible under another employer’s medical and/or welfare benefits plan. The Company will make a lump-sum payment in the amount of One Thousand Five Hundred Thirty-Two Dollars and 16/100 ($1,532.16) which is the equivalent of certain welfare benefits that are unavailable to the undersigned after the Termination Date. Further, the Company will make an additional lump sum payment in the amount of Three Thousand Five Hundred Dollars and 00/100 ($3,500.00) (in addition to transferring title of the Company-leased vehicle explained in Section XII of this Agreement) which is equal to the remaining value owed to the undersigned pursuant to the Compensation Policy Regarding Company Cars, adopted on August 1, 2007.
