Post-Termination Benefits. The benefits hereunder shall be deemed the “Other Compensation” referenced in Section 6(d), 6(e) and 6(f) hereof. Except if XXXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event XXXXXXX’x employment with the Corporation is terminated for any reason prior to the end of the Term, XXXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which XXXXXXX was participating on the date of such termination, at a cost to XXXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, XXXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to XXXXXXX and his dependents equal to the amount paid by the Corporation for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which XXXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, XXXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which XXXXXXX was participating on the date of any such termination.
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Post-Termination Benefits. The benefits hereunder shall be deemed the “Other Compensation” referenced in Section 6(d), 6(e) and 6(f6(e) hereof. Except if XXXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event XXXXXXX’x employment with the Corporation is terminated for any reason prior to the end of the Term, XXXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which XXXXXXX was participating on the date of such termination, at a cost to XXXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, XXXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to XXXXXXX and his dependents equal to the amount paid by the Corporation for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which XXXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, XXXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which XXXXXXX was participating on the date of any such termination.
Appears in 1 contract
Samples: Employment Agreement (Total Nutraceutical Solutions, Inc.)
Post-Termination Benefits. The benefits hereunder shall be deemed the “Other Compensation” referenced in Section 6(d), 6(e) and 6(f) hereof. Except if XXXXXXX NEILL resigns without Good Reason (other than retirement on or after the age of 62), in the event XXXXXXX’x NEILL’s employment with the Corporation is terminated for any reason prior to the end of the Term, XXXXXXX NEILL and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which XXXXXXX NEILL was participating on the date of such termination, at a cost to XXXXXXX NEILL and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, XXXXXXX NEILL and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to XXXXXXX NEILL and his dependents equal to the amount paid by the Corporation for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which XXXXXXX NEILL may be entitled upon termination of his Employment pursuant to any provision of this Agreement, XXXXXXX NEILL shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which XXXXXXX NEILL was participating on the date of any such termination.
Appears in 1 contract
Samples: Employment Agreement (Pharmos Corp)
Post-Termination Benefits. The benefits hereunder shall be deemed the “Other Compensation” referenced in Section 6(d), 6(e) and 6(f6(e) hereof. Except if XXXXXXX XXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event XXXXXXX’x ANDRES’s employment with the Corporation is terminated for any reason prior to the end of the Term, XXXXXXX XXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which XXXXXXX XXXXXX was participating on the date of such termination, at a cost to XXXXXXX XXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, XXXXXXX XXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to XXXXXXX XXXXXX and his dependents equal to the amount paid by the Corporation for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which XXXXXXX XXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, XXXXXXX XXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which XXXXXXX XXXXXX was participating on the date of any such termination.
Appears in 1 contract
Samples: Employment Agreement (Total Nutraceutical Solutions, Inc.)
Post-Termination Benefits. The benefits hereunder shall be deemed the “"Other Compensation” " referenced in Section 6(d), 6(e) and 6(f) hereof. Except if XXXXXXX MEER resigns without Good Reason (other than retirement on or after the age of 62), in the event XXXXXXX’x MEER's employment with the Corporation is terminated for any reason prior to the end of the Term, XXXXXXX MEER and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which XXXXXXX MEER was participating on the date of such termination, at a cost to XXXXXXX MEER and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, XXXXXXX MEER and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to XXXXXXX MEER and his dependents equal to the amount paid charged by the Corporation for to similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which XXXXXXX MEER may be entitled upon termination of his Employment pursuant to any provision of this Agreement, XXXXXXX MEER shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which XXXXXXX MEER was participating on the date of any such termination.
Appears in 1 contract
Samples: Employment Agreement (Pharmos Corp)