Common use of Health and Life Insurance Benefits Clause in Contracts

Health and Life Insurance Benefits. The Company agrees to maintain, for a period of twelve (12) months following the date of the occurrence of a Termination Event, the Executive's eligibility for and participation in any health and life insurance plans ("Insurance Benefits"), in which the Executive was eligible to participate prior to the Termination Event and upon the same basis and cost as prior to the Termination Event, provided however, that if, for any reason, the Company is unable to continue the Executive's participation in any such plan, the Company shall cause the Executive to be eligible to participate in a substantially equivalent arrangement upon substantially the same basis and cost as prior to the Termination Event. Notwithstanding any other provision of this Agreement to the contrary, if in connection with the termination of the Executive's employment for any reason the Company is obligated by law or by contract (including any employment or severance agreement other than this Agreement) or by Company plan or policy to provide the Executive with life or health insurance after the Executive's termination (or a cash payment in lieu thereof), then any Insurance Benefits hereunder shall be reduced by the amount of any payments and similar benefits described above, as applicable.

Health and Life Insurance Benefits. The Company agrees to maintain, for a period of twelve (12) months following the date of the occurrence of a Termination Event, the Executive's ’s eligibility for and participation in any health and life insurance plans ("Insurance Benefits"), in which the Executive was eligible to participate prior to the Termination Event and upon the same basis and cost as prior to the Termination Event, provided however, that if, for any reason, the Company is unable to continue the Executive's ’s participation in any such plan, the Company shall cause the Executive to be eligible to participate in a substantially equivalent arrangement upon substantially the same basis and cost (determined on an after-tax basis) as prior to the Termination Event. Notwithstanding any other provision of this Agreement to the contrary, if in connection with the termination of the Executive's ’s employment for any reason the Company is obligated by law or by contract (including any employment or severance agreement other than this Agreement) or by Company plan or policy to provide the Executive with life or health insurance after the Executive's ’s termination (or a cash payment in lieu thereof), then any Insurance Benefits hereunder health and life insurance required to be provided under this paragraph shall be reduced by the amount of any payments and similar benefits described above, as applicable.