Common use of Insurance Plans upon Termination for Death or Disability Clause in Contracts

Insurance Plans upon Termination for Death or Disability. (i) If the Company terminates the Executive’s employment due to his permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall continue to provide him and his dependents coverage under the Insurance Plans, at his option, for the longer of one year or the period required by applicable law. The Company shall provide such coverage at its expense (except with respect to those costs for which the Executive was responsible prior to the termination of employment). (ii) If the Executive’s employment is terminated due to his death, pursuant to Subsection 5.2(b) herein, the Company shall continue to provide the Executive’s dependents medical insurance coverage, at their option, for the longer of one (1) year after his death or the period required by applicable law. The Company shall provide such coverage at its expense (except for those costs for which the Executive was responsible prior to his death). (iii) In the event the continued coverage contemplated by Subsections 5.2(d)(i) and (ii) is not permitted by the Insurance Plans, then the Company for the period specified above will instead pay the Executive or the Executive’s dependents (in the event of the Executive’s death) the monetary value of the premium(s) that it would have paid on the Executive’s behalf if such continued coverage were permitted.

Insurance Plans upon Termination for Death or Disability. (i) If the Company terminates the Executive’s employment due to his permanent disability, pursuant to Subsection 5.2(a) herein, the Company shall continue to provide him and his dependents coverage under the Insurance Plans, at his option, for the longer of one year two (2) years or the period required by applicable law. The Company shall provide such coverage at its expense (except with respect to those costs for which the Executive was responsible prior to the termination of employment). (ii) If the Executive’s employment is terminated due to his death, pursuant to Subsection 5.2(b) herein, the Company shall continue to provide the Executive’s dependents medical insurance coverage, at their option, for the longer of one two (12) year years after his death or the period required by applicable law. The Company shall provide such coverage at its expense (except for those costs for which the Executive was responsible prior to his death). (iii) In the event the continued coverage contemplated by Subsections 5.2(d)(i) and (ii) is not permitted by the Insurance Plans, then the Company for the period specified above will instead pay the Executive or the Executive’s dependents (in the event of the Executive’s death) the monetary value of the premium(s) that it would have paid on the Executive’s behalf if such continued coverage were permitted.