Benefit Plans. For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives of the Company at any applicable time during the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his eligible dependents), or (ii) providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available to Employee and Employee's eligible dependents.
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Benefit Plans.
For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives of the Company at any applicable time during the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his eligible dependents), or (ii) providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available immediately prior to Employee and Employee's eligible dependents. termination of employment.
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Benefit Plans.
For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives of the Company at any applicable time during the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his eligible dependents), or (ii) providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available immediately prior to Employee and Employee's eligible dependents. termination of employment.
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Benefit Plans.
For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives Employee and Employee's 5 eligible dependents immediately prior to Employee's termination of employment. Notwithstanding any contrary provision of this Section 5(a), but subject to the Company at any applicable time during immediately preceding sentence, the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") COBRA after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his Employee and Employee's eligible dependents), or (ii) instead providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available to Employee and Employee's eligible dependents.
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Benefit Plans.
For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's 5 eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives Employee and Employee's eligible dependents immediately prior to Employee's termination of employment. Notwithstanding any contrary provision of this Section 5(a), but subject to the Company at any applicable time during immediately preceding sentence, the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") COBRA after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his Employee and Employee's eligible dependents), or (ii) instead providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available to Employee and Employee's eligible dependents.
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Benefit Plans.
For purposes of this Agreement, "Benefit Plans" means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Employee's termination of employment provide Employee and/or Employee's eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee
... and Employee's eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to senior executives Employee and Employee's 5 eligible dependents immediately prior to Employee's termination of employment. Notwithstanding any contrary provision of this Section 5(a), but subject to the Company at any applicable time during immediately preceding sentence, the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by (i) reimbursing Employee's premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended ("COBRA") COBRA after Employee has properly elected continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his Employee and Employee's eligible dependents), or (ii) instead providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee's eligible dependents with equivalent coverage under a third party plan that is reasonably available to Employee and Employee's eligible dependents.
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