Medical, Dental and Vision Benefits. Interpublic shall provide to Executive medical, dental, and vision benefits (or cash in lieu of such benefits) in accordance with Section 4.2 of ESP (including the indemnification required by Section 4.2(b) of ESP) as in effect on the Effective Date hereof, subject to the following provisions: (1) Executive’s “severance period” under ESP shall be the twelve (12) month period that begins on the first day of the first month that begins after the Termination Date; provided, however, that Executive’s right to benefits under this subparagraph (1) shall terminate immediately upon Executive’s acceptance of employment with another employer offering similar benefits; (2) Any amendment, suspension, or termination of ESP after the Effective Date that has the effect of reducing the level of benefits required by this Section 7.06(i)(d) shall be disregarded unless Executive expressly consents in writing to such amendment, suspension, or termination; and (3) Executive’s right to the level of benefits required by this Section 7.06(i)(d) shall not be conditioned on 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. Interpublic shall provide to Executive medical, dental, and vision benefits (or cash in lieu of such benefits) in accordance with Section 4.2 of ESP (including the indemnification required by Section 4.2(b) of ESP) as in effect on the Effective Date hereof, subject to the following provisions:
(1A) Executive’s The “designated number of months” for purposes of determining the “severance period” under ESP shall be the twelve (12) month period that begins on the first day of the first month that begins after the Termination Date); provided, however, that Executive’s right to benefits under this subparagraph (1Section 7.01(iii)(b)(1) shall terminate immediately upon Executive’s acceptance of employment with another employer offering similar benefits;
(2B) Any amendment, suspension, or termination of ESP after the Effective Date that has the effect of reducing the level of benefits required by this Section 7.06(i)(d7.01(iii)(b)(1) shall be disregarded unless Executive expressly consents in writing to such amendment, suspension, or termination; and
(3C) Executive’s right to the level of benefits required by this Section 7.06(i)(d7.01(iii)(b)(1) shall not be conditioned on 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. Interpublic shall provide to Executive medical, dental, and vision benefits (or cash in lieu of such benefits) in accordance with Section 4.2 of ESP (including the indemnification required by Section 4.2(b) of ESP) as in effect on the Effective Date hereof, subject to the following provisions:
(1A) Executive’s The “designated number of months” for purposes of determining the “severance period” under ESP shall be the twelve (12) month period that begins on the first day of the first month that begins after the Termination Date); provided, however, that Executive’s right to benefits under this subparagraph (1) shall terminate immediately upon Executive’s acceptance of employment with another employer offering similar benefits;
(2B) Any amendment, suspension, or termination of ESP after the Effective Date that has the effect of reducing the level of benefits required by this this
Section 7.06(i)(d7.01 (iii)(b)(1) shall be disregarded unless Executive expressly consents in writing to such amendment, suspension, or termination; and
(3C) Executive’s right to the level of benefits required by this Section 7.06(i)(d7.01(iii)(b)(1) shall not be conditioned on 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. Interpublic shall provide to Executive medical, dental, and vision benefits (or cash in lieu of such benefits) in accordance with Section 4.2 of ESP (including the indemnification required by Section 4.2(b) of ESP) as in effect on the Effective Date hereof, subject to the following provisions:
(1A) Executive’s The “designated number of months” for purposes of determining the “severance period” under ESP shall be the twelve (12) month period that begins on the first day of the first month that begins after the Termination Date); provided, however, that Executive’s right to benefits under this subparagraph (1) shall terminate immediately upon Executive’s acceptance of employment with another employer offering similar benefits;
(2B) Any amendment, suspension, or termination of ESP after the Effective Date that has the effect of reducing the level of benefits required by this Section 7.06(i)(d7.01(iii)(b)(1) shall be disregarded unless Executive expressly consents in writing to such amendment, suspension, or termination; and
(3C) Executive’s right to the level of benefits required by this Section 7.06(i)(d7.01(iii)(b)(1) shall not be conditioned on Executive’s execution of the agreement required by Section 5 of ESP.
Appears in 1 contract
Samples: Employment Agreement (Interpublic Group of Companies, Inc.)