Common use of Medical Plan Continuation Clause in Contracts

Medical Plan Continuation. First Security shall, at its expense, continue to make available coverage to the Executive (and Executive’s dependents) under the applicable medical plan (which may include dental, vision, and general health coverage), on the same terms and conditions as are available to active employees of First Security, for the twelve (12) month period commencing on the Termination Date. If, because the Executive is no longer an employee of First Security, First Security shall be unable to make available coverage under the medical benefit plan required to be made available pursuant to this subsection (c) to the Executive or to the Executive’s dependents, First Security shall pay to the Executive a lump sum cash payment within sixty (60) days of the Termination Date equal to the aggregate amount First Security would have paid over the twelve (12) month period described above as its portion of the cost of providing the medical plan coverage described above and based on the level of coverage that the Executive had in place as of the Termination Date. The lump sum shall be determined and payable as an amount that is not reduced by calculating the present value of the stream of payments that First Security would have made over the twelve (12) month period if such coverage had been available.

Medical Plan Continuation. First Security shall, at its expense, shall continue to make available coverage to the Executive (and Executive’s dependents) under the applicable medical plan (which may include dental, vision, and general health coverage), on the same terms and conditions as are available to active employees of First Security, and its Subsidiaries, for Final Xxxxxx the twelve (12) month period commencing on the Termination Date. If, because the Executive is no longer an employee of First Security, Bank or any Subsidiary, First Security shall be unable to make available coverage under the medical benefit plan required to be made available pursuant to this subsection (c) to the Executive or to the Executive’s dependents, First Security shall pay to the Executive a lump sum cash payment within sixty (60) days of the Termination Date equal to the aggregate amount First Security would have paid over the twelve (12) month period described above as its portion of the cost of providing the medical plan coverage described above and based on the level of coverage that the Executive had in place as of the Termination Date. The lump sum shall be determined and payable as an amount that is not reduced by calculating the present value of the stream of payments that First Security would have made over the twelve (12) month period if such coverage had been available.