Common use of Medical Continuation Clause in Contracts

Medical Continuation. For the three year-period following the Effective Date, the Company will continue, or will cause the Company Bank to continue, to provide you with access to medical and dental coverage under its group plan as in effect from time to time with respect to similarly situated executives of the Company, including any cost sharing or contributions required to be made by you, provided, that, to the extent that the Company is unable to provide, or to cause the Company Bank to provide, you with (or ceases to be able to provide you with) such continuation coverage under the terms of its insurance policies as in effect from time to time, the Company Bank shall pay to you a cash payment equal to the Company Bank’s cost of providing such coverage (which cost is to be determined by reference to the “COBRA” premium applicable to such coverage) reduced by an amount equal to the then applicable employee contributions. You shall pay the Company Bank the employee share for such coverage, as determined by the Company Bank based on the cost of the coverage to be provided to you, on an annual basis in advance, with the first such installment payable on the Effective Date and the remaining annual installments payable on January 1 of each year after the year in which the Effective Date occurs. Your eligibility for “COBRA” continuation coverage under Section 4980B of the Code shall commence upon the Effective Date and the COBRA coverage period shall run concurrently with and offset the three-year period under this Section 4(b). In the event that the Effective Date does not occur, you shall not be entitled to any benefit under this Section 4(b).

Medical Continuation. For the three one year-period following the Effective Date, the Company will continue, or will cause the Company Bank to continue, to provide you with access to medical and dental coverage under its group plan as in effect from time to time with respect to similarly situated executives of the Company, including any cost sharing or contributions required to be made by you, provided, that, to the extent that the Company is unable to provide, or to cause the Company Bank to provide, you with (or ceases to be able to provide you with) such continuation coverage under the terms of its insurance policies as in effect from time to time, the Company Bank shall pay to you a cash payment equal to the Company Bank’s cost of providing such coverage (which cost is to be determined by reference to the “COBRA” premium applicable to such coverage) reduced by an amount equal to the then applicable employee contributions. You shall pay the Company Bank the employee share for such coverage, as determined by the Company Bank based on the cost of the coverage to be provided to you, on an annual basis in advance, with the first such installment payable on the Effective Date and the remaining annual installments payable on January 1 of each year after the year in which the Effective Date occursDate. Your eligibility for “COBRA” continuation coverage under Section 4980B of the Code shall commence upon the Effective Date and the COBRA coverage period shall run concurrently with and offset the threeone-year period under this Section 4(b). In the event that the Effective Date does not occur, you shall not be entitled to any benefit under this Section 4(b).

Medical Continuation. For the three year-period following the Effective Date, the Company will continue, or will cause the Company Bank to continue, to provide you with access to medical and dental coverage under its group plan as in effect from time to time with respect to similarly situated executives of the Company, including any cost sharing or contributions required to be made by you, provided, that, to the extent that the Company is unable to provide, or to cause the Company Bank to provide, you with (or ceases to be able to provide you with) such continuation coverage under the terms of its insurance policies as in effect from time to time, the Company Bank shall pay to you a cash payment equal to the Company Bank’s cost of providing such coverage (which cost is to be determined by reference to the “COBRA” premium applicable to such coverage) reduced by an amount equal to the then applicable employee contributions. You shall pay the Company Bank the employee share for such coverage, as determined by the Company Bank based on the cost of the coverage to be provided to you, on an annual basis in advance, with the first such installment payable on the Effective Date and the remaining annual installments payable on January 1 of each year after the year in which the Effective Date occurs. Your eligibility for “COBRA” continuation coverage under Section 4980B of the Code shall commence upon the Effective Date and the COBRA coverage period shall run concurrently with and offset the three-year period under this Section 4(b4 (b). In the event that the Effective Date does not occur, you shall not be entitled to any benefit under this Section 4(b).

Medical Continuation. For the three one year-period following the Effective Date, the Company will continue, or will cause the Company Bank to continue, to provide you with access to medical and dental coverage under its group plan as in effect from time to time with respect to similarly situated executives of the Company, including any cost sharing or contributions required to be made by you, provided, that, to the extent that the Company is unable to provide, or to cause the Company Bank to provide, you with (or ceases to be able to provide you with) such continuation coverage under the terms of its insurance policies as in effect from time to time, the Company Bank shall pay to you a cash payment equal to the Company Bank’s cost of providing such coverage (which cost is to be determined by reference to the “COBRA” premium applicable to such coverage) reduced by an amount equal to the then applicable employee contributions. You shall pay the Company Bank the employee share for such coverage, as determined by the Company Bank based on the cost of the coverage to be provided to you, on an annual basis in advance, with the first such installment payable on the Effective Date and the remaining annual installments payable on January 1 of each year after the year in which the Effective Date occursDate. Your eligibility for “COBRA” continuation coverage under Section 4980B of the Code shall commence upon the Effective Date and the COBRA coverage period shall run concurrently with and offset the threeone-year period under this Section 4(b)3. In the event that the Effective Date does not occur, you shall not be entitled to any benefit under this Section 4(b)3.