Benefits Continuation

Benefits Continuation. Shall mean for the referenced period of time following the date of Executive's termination of employment with the Company or determination of Disability, that the Company shall provide or otherwise make available to Executive, an election (with respect to health and/or dental coverage under the Company's group health plan or under 14 continuation coverage provisions of ERISA and the Code or under an individual paid plan) to ensure continued health... insurance coverage either individually or under the Company's health, dental or other benefit plans and term life insurance benefit (collectively, the "Continuation Plans") on not less than the same terms and conditions as previously were in place for Executive. The cost to Executive of including Executive, his spouse and his dependents in any Continuation Plans shall be no more than that previously paid by the Executive and may be deducted from any regular payments made to Executive under this Agreement. If at any time, the Company is precluded by the terms of any of the Continuation Plans from providing such coverage to Executive, his spouse, or his dependents, for reasons to be beyond the control of the Company, such coverage shall be provided by any other available means and the Executive, his spouse and his dependents shall be entitled to continuation of coverage pursuant to any statutory rights Executive, his spouse or his dependents may then have under the group health plan continuation coverage provisions of ERISA and the Code, or otherwise, at the Company's expense. The prior provisions notwithstanding, the right of Executive, his spouse or dependents, to coverage as provided by the group health plan continuation coverage provisions of ERISA and the Code or otherwise shall be deemed to run concurrently with the continuation of health and/or dental benefits under the first sentence of this paragraph. Any expense incurred by Executive, legal or otherwise, incurred to enforce this or other provision of this Agreement, shall be paid by the Company. View More

Benefits Continuation. [eighteen months (for chief executive officer); twelve months (for all executives other than chief executive officer)] ([12 / 18]) months of continued participation by Executive and Executive's spouse and dependents in the Company's group benefits plans, during which time the Company shall pay that portion of the premiums that the Company paid on behalf of Executive and Executive's spouse and dependents during Executive's employment; provided, however, that if the Company's health insurance... plan does not permit such continued participation in such plan after Executive's termination of employment, then the Company shall pay the monthly costs of COBRA continuation coverage on behalf of Executive and Executive's spouse and dependents for such [12 / 18]-month period up to that monthly amount that equals the portion of the premiums paid by Executive on behalf of Executive and Executive's spouse and dependents immediately prior to the termination of employment; and provided, further, that if Executive becomes employed with another employer during the period in which continued health insurance is being provided pursuant to this Agreement, the Company shall not be required to continue such health benefits, or if applicable, to pay the costs of COBRA, if Executive becomes covered under a health insurance plan of the new employer. View More