Life and Health Insurance Coverage. If you are entitled to receive a Severance Payment under Section 2.1, the Company shall also provide you with the following additional benefits: (a) Life insurance coverage for you and your dependents having a face amount at least equal to the greater of (i) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Change in Control, or (ii) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Date of Termination, such coverage to be provided under the same plan or plans under which you (in your case) or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided. (b) Health insurance coverage (including any dental coverage) for you and your dependents under the same plan or plans under which you were covered immediately prior to the Change in Control (or, if more favorable, immediately prior to the Date of Termination) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided. (c) The benefits provided under this Section 2.6 shall continue for a period of [2][3] years following the date of your Qualifying Termination; provided, however, that the benefits for medical coverage under the provisions of Section 2.6(b) shall end as of the date you become covered under any group health plan maintained by a subsequent employer which provides benefits to you (and anyone entitled to claim the benefits described in Section 2.6(b) under or through you) not materially less favorable than the benefits described in Section 2.6(b), and which does not exclude any pre-existing condition that you or your dependents may have at that time.
Appears in 2 contracts
Samples: Severance Agreement (Unitrin Inc), Severance Agreement (Unitrin Inc)
Life and Health Insurance Coverage. If you are entitled to receive a Severance Payment under Section 2.1, the Company shall also provide you with the following additional benefits:
(a) Life insurance coverage for you and your dependents having a face amount at least equal to the greater of (i) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Change in Control, or (ii) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Date of Termination, such coverage to be provided under the same plan or plans under which you (in your case) or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost (the “Active Employee Cost”) to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable), provided, however, that until the first day of the seventh month following your Separation from Service, you shall pay the entire cost of such coverage and shall be reimbursed by the Company for the difference between such payments and the Active Employee Cost on the first day of the seventh month following your Separation from Service. This coverage will continue for the period hereinafter provided.
(b) Health The right to continue your health insurance coverage (including any dental coverage) for you and your dependents under the same plan or plans under which you were covered immediately prior to the Change in Control (or, if more favorable, immediately prior to the Date of Termination) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost upon your payment (on an after-tax basis) of the applicable premium (as defined by Code section 4980B(f)(4)) for such coverage, provided, however, that the Company shall pay to you (in the difference between such premium and the amount an active employee would pay for such coverage. The first such payment by the Company shall be made on the first day of the seventh month following your case) or your dependents (in the case of your dependents) than was imposed pursuant Separation from Service and shall be equal to the plan(s) under which difference between the aggregate premiums you (in your case) and/or your dependents (in the case of your dependents) were covered immediately paid prior to such date and the Change in Control (or Date of Terminationaggregate amount an active employee would have paid for such coverage. Thereafter, as applicable). This coverage will continue for reimbursement by the period hereinafter providedCompany shall be paid on a monthly basis.
(c) The benefits provided under this Section 2.6 shall continue for a period of [2][3two (2)] [three (3)] years following the date of your Qualifying Termination; provided, however, that the benefits for medical coverage under the provisions of Section 2.6(b) shall end as of the date you become covered under any group health plan maintained by a subsequent employer which provides benefits to you (and anyone entitled to claim the benefits described in Section 2.6(b) under or through you) not materially less favorable than the benefits described in Section 2.6(b), and which does not exclude any pre-existing condition that you or your dependents may have at that time.
Appears in 2 contracts
Samples: Severance Agreement (KEMPER Corp), Severance Agreement (Unitrin Inc)
Life and Health Insurance Coverage. If you are entitled to receive a Severance Payment under Section 2.1, the Company shall also provide you with the following additional benefits:
(a) Life insurance coverage for you and your dependents having a face amount at least equal to the greater of (i) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Change in Control, or (ii) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Date of Termination, such coverage to be provided under the same plan or plans under which you (in your case) or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost (the “Active Employee Cost”) to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable), provided, however, that until the first day of the seventh month following your Separation from Service, you shall pay the entire cost of such coverage and shall be reimbursed by the Company for the difference between such payments and the Active Employee Cost on the first day of the seventh month following your Separation from Service. This coverage will continue for the period hereinafter provided.
(b) Health The right to continue your health insurance coverage (including any dental coverage) for you and your dependents under the same plan or plans under which you were covered immediately prior to the Change in Control (or, if more favorable, immediately prior to the Date of Termination) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost upon your payment (on an after-tax basis) of the applicable premium (as defined by Code section 4980B(f)(4)) for such coverage, provided, however, that the Company shall pay to you (in the difference between such premium and the amount an active employee would pay for such coverage. The first such payment by the Company shall be made on the first day of the seventh month following your case) or your dependents (in the case of your dependents) than was imposed pursuant Separation from Service and shall be equal to the plan(s) under which difference between the aggregate premiums you (in your case) and/or your dependents (in the case of your dependents) were covered immediately paid prior to such date and the Change in Control (or Date of Terminationaggregate amount an active employee would have paid for such coverage. Thereafter, as applicable). This coverage will continue for reimbursement by the period hereinafter providedCompany shall be paid on a monthly basis.
(c) The benefits provided under this Section 2.6 shall continue for a period of [2][3] years following the date of your Qualifying Termination; provided, however, that the benefits for medical coverage under the provisions of Section 2.6(b) shall end as of the date you become covered under any group health plan maintained by a subsequent employer which provides benefits to you (and anyone entitled to claim the benefits described in Section 2.6(b) under or through you) not materially less favorable than the benefits described in Section 2.6(b), and which does not exclude any pre-existing condition that you or your dependents may have at that time.
Appears in 1 contract
Samples: Severance Agreement (Unitrin Inc)
Life and Health Insurance Coverage. If you are entitled to receive a Severance Payment under Section 2.1, the Company shall also provide you with the following additional benefits:
(a) Life insurance coverage for you and your dependents dependents, for a period of { ALTERNATIVES: [two (2)] [three (3)] } years following your termination of employment, having a face amount at least equal to the greater of (i) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Change in Control, or (ii) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Date of Termination, such coverage to be provided under the same plan or plans under which you (in your case) or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost (“Active Employee Cost”) to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided.
(b) Health insurance coverage (including any dental coverage) for you and your dependents under the same plan or plans under which you were covered immediately prior to the Change in Control (or, if more favorable, immediately prior to the Date of Termination) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided.
(c) The benefits provided under this Section 2.6 shall continue for a period of [2][3] years following the date of your Qualifying Termination; provided, however, that until the benefits for medical coverage under the provisions of Section 2.6(b) shall end as first day of the date seventh month following your Separation from Service, you become covered under any group health plan maintained shall pay the entire cost of such coverage and shall be reimbursed by a subsequent employer which provides benefits to you (the Company for the difference between such payments and anyone entitled to claim the benefits described in Section 2.6(b) under Active Employee Cost on or through you) not materially less favorable than as soon as possible following the benefits described in Section 2.6(b), and which does not exclude any pre-existing condition that you or first day of the seventh month following your dependents may have at that time.Separation from Service. {
Appears in 1 contract
Samples: Severance Agreement (KEMPER Corp)
Life and Health Insurance Coverage. If you are entitled to receive a Severance Payment under Section 2.1, the Company shall also provide you with the following additional benefits:
(a) Life insurance coverage for you and your dependents dependents, for a period of { ALTERNATIVES: [two (2)] [three (3)]} years following your termination of employment, having a face amount at least equal to the greater of (i) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Change in Control, or (ii) the amount in effect for you (in your case) and/or your dependents (in the case of your dependents) immediately prior to the Date of Termination, such coverage to be provided under the same plan or plans under which you (in your case) or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost (“Active Employee Cost”) to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided.
(b) Health insurance coverage (including any dental coverage) for you and your dependents under the same plan or plans under which you were covered immediately prior to the Change in Control (or, if more favorable, immediately prior to the Date of Termination) or substantially similar plan(s) established by the Company or any of its Subsidiaries or Affiliates thereafter, and at no greater cost to you (in your case) or your dependents (in the case of your dependents) than was imposed pursuant to the plan(s) under which you (in your case) and/or your dependents (in the case of your dependents) were covered immediately prior to the Change in Control (or Date of Termination, as applicable). This coverage will continue for the period hereinafter provided.
(c) The benefits provided under this Section 2.6 shall continue for a period of [2][3] years following the date of your Qualifying Termination; provided, however, that until the benefits for medical coverage under the provisions of Section 2.6(b) shall end as first day of the date seventh month following your Separation from Service, you become covered under any group health plan maintained shall pay the entire cost of such coverage and shall be reimbursed by a subsequent employer which provides benefits to you (the Company for the difference between such payments and anyone entitled to claim the benefits described in Section 2.6(b) under Active Employee Cost on or through you) not materially less favorable than as soon as possible following the benefits described in Section 2.6(b), and which does not exclude any pre-existing condition that you or first day of the seventh month following your dependents may have at that time.Separation from Service. {ADDITIONAL
Appears in 1 contract
Samples: Severance Agreement (KEMPER Corp)