Long-Term Care Insurance Premiums Sample Clauses

Long-Term Care Insurance Premiums. In the event Executive, on termination of his employment, elects to continue long-term care insurance coverage under the Syncor International Corporation Executive Benefit Plan for Officers (which includes health, life, and long term care provisions) (the “Executive Benefit Plan”), Syncor will pay all remaining premiums due for such long term care insurance coverage. In the event of Executive’s death during the Active Employment Period or the Inactive Employment Period, his Beneficiary will be entitled to the payments and other benefits that Executive would have received if he had been employed throughout the Active Employment and the Inactive Employment Period (other than continuation as a participant in employee benefit plans to the extent dependent upon continued employment). For purposes of the preceding sentence, the Executive’s “Beneficiary” is, collectively, the person or persons or other entity or entities designated by him in writing to the Vice President, Human Resources and Communications, of Syncor to receive such payments and other benefits in the event of Executive’s death. If Executive designates more than one person or entity as Beneficiary, such payments and other benefits will be paid in equal shares to such persons or entities whom Executive has designated as Beneficiary who survive him or are in existence at the time of his death, unless he otherwise indicates in the instrument designating the Beneficiary. Executive may revoke his designation of a Beneficiary, and may designate a new Beneficiary, at any time. If Executive fails to designate a Beneficiary, of if no designated Beneficiary is in existence at the time of Executive’s death, the Beneficiary will be the Executive’s estate.