Medical, Dental and Vision Benefits. If the Executive’s employment terminates as a result of a Qualifying Termination, Interpublic shall make cash payments to the Executive in lieu of continuing medical, dental, and vision benefits, in accordance with Section 4.2 of the Interpublic Executive Severance Plan (“ESP”), subject to the following provisions: (a) The “designated number of months” for purposes of determining the Executive’s “severance period” and “COBRA period” under ESP shall be the Designated Number of Months set forth in Section 1.7 hereof; (b) Any amendment, suspension, or termination of ESP after the date of this Agreement that has the effect of reducing the level of benefits required by this Section 2.2, shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and (c) The Executive’s right to the level of benefits required by this Section 2.2 shall not be conditioned on the Executive executing the agreement required by Section 5 of ESP.
Appears in 6 contracts
Samples: Executive Change of Control Agreement (Interpublic Group of Companies, Inc.), Executive Change of Control Agreement (Interpublic Group of Companies, Inc.), Executive Change of Control Agreement (Interpublic Group of Companies, Inc.)
Medical, Dental and Vision Benefits. If the Executive’s employment terminates as a result of a Qualifying Termination, Interpublic shall make cash payments provide to the Executive in lieu of continuing medical, dental, and vision benefits (or cash in lieu of such benefits, ) in accordance with Section 4.2 of the Interpublic Executive Severance Plan (including the indemnification required by Section 4.2(b) of ESP) as in effect on the Effective Date (“ESP”), subject to the following provisions:
(a) The “designated number of months” for purposes of determining the Executive’s “severance period” and “COBRA period” under ESP shall be the Designated Number of Months set forth in Section 1.7 hereof;
(b) Any amendment, suspension, or termination of ESP after the date of this Agreement that has the effect of reducing the level of benefits required by this Section 2.2, shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and
(c) The Executive’s right to the level of benefits required by this Section 2.2 shall not be conditioned on the Executive executing the agreement required by Section 5 of ESP.
Appears in 6 contracts
Samples: Executive Change of Control Agreement (Interpublic Group of Companies, Inc.), Executive Change of Control Agreement (Interpublic Group of Companies, Inc.), Executive Change of Control Agreement (Interpublic Group of Companies, Inc.)
Medical, Dental and Vision Benefits. If the Executive’s 's employment terminates as a result of a Qualifying Termination, Interpublic shall make cash payments to the Executive in lieu of continuing medical, dental, and vision benefits, in accordance with Section 4.2 of the Interpublic Executive Severance Plan (“ESP”), subject to the following provisions:
(a) The “designated number of months” for purposes of determining the Executive’s 's “severance period” and “COBRA period” under ESP shall be the Designated Number of Months set forth in Section 1.7 hereof;
(b) Any amendment, suspension, or termination of ESP after the date of this Agreement that has the effect of reducing the level of benefits required by this Section 2.2, shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and
(c) The Executive’s 's right to the level of benefits required by this Section 2.2 shall not be conditioned on the Executive executing the agreement required by Section 5 of ESP.
Appears in 2 contracts
Samples: Executive Change of Control Agreement (Interpublic Group of Companies, Inc.), Executive Change of Control Agreement (Interpublic Group of Companies, Inc.)
Medical, Dental and Vision Benefits. If the Executive’s employment terminates as a result of a Qualifying Termination, Interpublic shall make provide to Executive cash payments to the Executive in lieu of continuing medical, dental, and vision benefits, benefits in accordance with Section 4.2 of ESP as in effect on the Interpublic Executive Severance Plan (“ESP”)Effective Date hereof, subject to the following provisions:
(a1) The “designated number of months” for purposes of determining the Executive’s “severance period” and “COBRA period” under ESP this Agreement shall be the Designated Number twelve (12); provided, however, that Executive’s right to benefits under this Section 8.01(ii)(c) shall terminate immediately upon Executive’s acceptance of Months set forth in Section 1.7 hereofemployment with another employer offering similar benefits;
(b2) Any amendment, suspension, or termination of ESP after the date of this Agreement Effective Date that has the effect of reducing the level of benefits required by this Section 2.2, 8.01(ii)(c) shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and;
(c3) The Executive’s right to the level of benefits required by this Section 2.2 8.01(ii)(c) shall not be conditioned on the Executive executing Executive’s execution of the agreement required by Section 5 of ESP; and
(4) Any taxable payments required by this Section 8.01(ii)(c) shall be delayed to the extent required by Section 8.05 hereof.
Appears in 1 contract
Samples: Employment Agreement (Interpublic Group of Companies, Inc.)
Medical, Dental and Vision Benefits. If the Executive’s employment terminates as a result of a Qualifying Termination, Interpublic shall make cash payments provide to the Executive in lieu of continuing medical, dental, and vision benefits (or cash in lieu of such benefits, ) in accordance with Section 4.2 of ESP (including the Interpublic Executive Severance Plan (“indemnification required by Section 4.2(b) of ESP”)) as in effect on the Effective Date hereof, subject to the following provisions:
(aA) The “designated number of months” for purposes of determining the Executive’s “severance period” and “COBRA period” under ESP shall be the Designated Number twelve (12); provided, however, that Executive’s right to benefits under this subparagraph (1) shall terminate immediately upon Executive’s acceptance of Months set forth in Section 1.7 hereofemployment with another employer offering similar benefits;
(bB) Any amendment, suspension, or termination of ESP after the date of this Agreement Effective Date that has the effect of reducing the level of benefits required by this this
Section 2.2, 7.01 (iii)(b)(1) shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and
(cC) The Executive’s right to the level of benefits required by this Section 2.2 7.01(iii)(b)(1) shall not be conditioned on the Executive executing Executive’s execution of the agreement required by Section 5 of ESP.
Appears in 1 contract
Samples: Employment Agreement (Interpublic Group of Companies, Inc.)
Medical, Dental and Vision Benefits. If the Executive’s employment terminates as a result of a Qualifying Termination, Interpublic shall make cash payments provide to the Executive in lieu of continuing medical, dental, and vision benefits (or cash in lieu of such benefits, ) in accordance with Section 4.2 of ESP (including the Interpublic Executive Severance Plan (“indemnification required by Section 4.2(b) of ESP”)) as in effect on the Effective Date hereof, subject to the following provisions:
(aA) The “designated number of months” for purposes of determining the Executive’s “severance period” and “COBRA period” under ESP shall be the Designated Number twelve (12); provided, however, that Executive’s right to benefits under this subparagraph (1) shall terminate immediately upon Executive’s acceptance of Months set forth in Section 1.7 hereofemployment with another employer offering similar benefits;
(bB) Any amendment, suspension, or termination of ESP after the date of this Agreement Effective Date that has the effect of reducing the level of benefits required by this Section 2.2, 7.01(iii)(b)(1) shall be disregarded unless the Executive expressly consents in writing to such amendment, suspension, or termination; and
(cC) The Executive’s right to the level of benefits required by this Section 2.2 7.01(iii)(b)(1) shall not be conditioned on the Executive executing Executive’s execution of the agreement required by Section 5 of ESP.
Appears in 1 contract
Samples: Employment Agreement (Interpublic Group of Companies, Inc.)