Common use of Insurance Benefits, etc Clause in Contracts

Insurance Benefits, etc. The Company shall at all times during the Disability Continuation Period cause the Executive and the Executive's eligible dependents to be covered by and to participate in, to the fullest extent allowable under the terms thereof, all life, accidental death and dismemberment and health insurance plans and programs that may be offered to the senior employees of the Company so that the Executive will receive, at all times during the Disability Continuation Period, the same benefits under such plans and programs as the Executive would have been entitled to receive had the Executive remained a senior employee of the Company and the Executive's costs for plans or programs shall be not greater than if the Executive had remained a senior employee of the Company. In no event shall the Executive's continuation period for purposes of Part 6 of Title I of the Executive Retirement Income Security Act of 1974, as amended ("COBRA"), begin prior to the end of the Executive's coverage under the Company's group health plan as provided in this paragraph (b). Should the Executive's Disability end during the pendency of the Term, the Company may discontinue the payments contemplated by this Section 4.4 if it offers to reemploy the Executive under the terms of this Agreement.

Appears in 6 contracts

Samples: Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD)

AutoNDA by SimpleDocs

Insurance Benefits, etc. The Company shall at all times during the Disability Continuation Period cause the Executive and the Executive's ’s eligible dependents to be covered by and to participate in, to the fullest extent allowable under the terms thereof, all life, accidental death and dismemberment and health insurance plans and programs that may be offered to the senior employees of the Company so that the Executive will receive, at all times during the Disability Continuation Period, the same benefits under such plans and programs as the Executive would have been entitled to receive had the Executive remained a senior employee of the Company and the Executive's ’s costs for plans or programs shall be not greater than if the Executive had remained a senior employee of the Company. In no event shall the Executive's ’s continuation period for purposes of Part 6 of Title I of the Executive Retirement Income Security Act of 1974, as amended ("COBRA"), begin prior to the end of the Executive's ’s coverage under the Company's ’s group health plan as provided in this paragraph (b). Should the Executive's ’s Disability end during the pendency of the Term, the Company may discontinue the payments contemplated by this Section 4.4 if it offers to reemploy the Executive under the terms of this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD)

AutoNDA by SimpleDocs

Insurance Benefits, etc. The Company shall at all times during the Disability Continuation Period cause the Executive and the Executive's eligible dependents to be covered by and to participate in, to the fullest extent allowable under the terms thereof, all life, accidental death and dismemberment and health insurance plans and programs that may be offered to the senior employees of the Company so that the Executive will receive, at all times during the Disability Continuation Period, the same benefits under such plans and programs as the Executive would have been entitled to receive had the Executive remained a senior employee of the Company and the Executive's costs for plans or programs shall be not greater than if the Executive had remained a senior employee of the Company. In no event shall the Executive's continuation period for purposes of Part 6 of Title I of the Executive Retirement Income Security Act of 1974, as amended ("COBRA"), begin prior to the end of the Executive's coverage under the Company's group health plan as provided in this paragraph (b). Should the Executive's Disability end during the pendency of the Term, the Company may discontinue the payments contemplated by this Section 4.4 if it offers to reemploy the Executive under the terms of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (American Capital Strategies LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!