Common use of Welfare Continuance Benefit Clause in Contracts

Welfare Continuance Benefit. For thirty-six months following the Date of Termination, the Executive and his/her dependents will continue to be covered under all health and dental plans, disability plans, life insurance plans and all other welfare benefit plans (as defined in Section 3(1) of ERISA) (“Welfare Plans”) in which the Executive or his/her dependents were participating immediately prior to the Date of Termination (the “Welfare Continuance Benefit”). The Employer will pay all or a portion of the cost of the Welfare Continuance Benefit for the Executive and his/her dependents under the Welfare Plans on the same basis as applicable, from time to time, to active employees covered under the Welfare Plans and the Executive will pay any additional costs. If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for the Executive or the Employer due to such participation, the Employer will provide substantially identical benefits directly or through an insurance arrangement. The Welfare Continuance Benefit as to any Welfare Plan will cease if and when the Executive has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to the Executive and his/her dependents with respect to the specific type of benefit. The Executive or his/her dependents will become eligible for COBRA continuation coverage as of the date the Welfare Continuance Benefit ceases for all health and dental benefits.

Welfare Continuance Benefit. For thirty-six 36 months following the Date of Termination, the Executive Employee and his/her his dependents will continue to be covered under all health and dental plans, disability plans, life insurance plans and all other welfare benefit plans (as defined in Section 3(1) of ERISA) (“Welfare Plans”) in which the Executive Employee or his/her his dependents were participating immediately prior to the Date of Termination (the “Welfare Continuance Benefit”). The Employer Monarch will pay all or a portion of the cost of the Welfare Continuance Benefit for the Executive Employee and his/her his dependents under the Welfare Plans on the same basis as applicable, from time to time, to active employees covered under the Welfare Plans and the Executive Employee will pay any additional costs. If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for the Executive Employee or the Employer Monarch due to such participation, the Employer Monarch will provide substantially identical benefits directly or through an insurance arrangement. The Welfare Continuance Benefit as to any Welfare Plan will cease if and when the Executive Employee has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to the Executive Employee and his/her his dependents with respect to the specific type of benefit. The Executive Employee or his/her his dependents will become eligible for COBRA continuation coverage as of the date the Welfare Continuance Benefit ceases for all health and dental benefits.

Welfare Continuance Benefit. For thirty-six 24 months following the Date of Termination, the Executive and his/her his dependents will continue to be covered under all health and dental plans, disability plans, life insurance plans and all other welfare benefit plans (as defined in Section 3(13(l) of ERISA) (“Welfare Plans”) in which the Executive or his/her his dependents were participating immediately prior to the Date of Termination (the “Welfare Continuance Benefit”). The Employer Company will pay all or a portion of the cost of the Welfare Continuance Benefit for the Executive and his/her his dependents under the Welfare Plans on the same basis as applicable, from time to time, to active employees covered under the Welfare Plans with such payments being made in accordance with the terms of any such Welfare Plan and the Executive will pay any additional costs. If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for the Executive or the Employer Company due to such participation, the Employer Company will provide substantially identical benefits directly or through an insurance arrangement. The Welfare Continuance Benefit as to any Welfare Plan will cease if and when the Executive has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to the Executive and his/her his dependents with respect to the specific type of benefit. The Executive or his/her his dependents will become eligible for COBRA continuation coverage as of the date the Welfare Continuance Benefit ceases for all health and dental benefits.

Welfare Continuance Benefit. For thirty-six 12 months following the Date of Termination, the Executive and his/her his dependents will continue to be covered under all health and dental plans, disability plans, life insurance plans and all other welfare benefit plans (as defined in Section 3(13(l) of ERISA) (“Welfare Plans”) in which the Executive or his/her his dependents were participating immediately prior to the Date of Termination (the “Welfare Continuance Benefit”). The Employer Company will pay all or a portion of the cost of the Welfare Continuance Benefit for the Executive and his/her his dependents under the Welfare Plans on the same basis as applicable, from time to time, to active employees covered under the Welfare Plans and the Executive will pay any additional costs. If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for the Executive or the Employer Company due to such participation, the Employer Company will provide substantially identical benefits directly or through an individual insurance arrangementarrangement to the extent Executive and his dependents are insurable. The Welfare Continuance Benefit as to any Welfare Plan will cease if and when the Executive has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to the Executive and his/her his dependents with respect to the specific type of benefit. The If permitted by the terms of the applicable insurance arrangement, the Executive or his/her his dependents will become eligible for COBRA continuation coverage as of the date the Welfare Continuance Benefit ceases for all health and dental benefits.