Common use of Insurance Programs Clause in Contracts

Insurance Programs. In the event Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, the Split Dollar Agreement shall continue in full force and effect through the Severance Period and shall survive separate and apart from this Agreement, and the Company's obligation to pay all premiums pursuant to this Agreement shall continue in accordance with the terms of this Agreement for the Severance Period. On the Termination Date (except that for purposes of this provision, if Xxxxxxx'x employment is terminated under the circumstances set forth in Paragraph 10(C)(i) hereof, then notwithstanding anything in that provision, the Termination Date for purposes of this Paragraph shall be the thirtieth (30th) day following the date of receipt of the notice provided for therein), or, if Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, at the end of the Severance Period, Xxxxxxx shall pay to the Company an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment the Company shall release its interest in the policy, or a portion thereof, on Xxxxxxx'x life acquired pursuant to the terms of the Split Dollar Agreement, or any or all of the paid up additions standing to the credit of such policy, if any, such that such released interest equals the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E. Alternatively, if the Company elects to pay the Deferred Compensation to Xxxxxxx within fifteen (15) days after the Termination Date pursuant to Paragraph 10.E.(iv) above, the Company at the time of such payment may demand payment from Xxxxxxx of an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment release its interest in the policy, or portion thereof, acquired pursuant to the terms of the Split Dollar Agreement, and any or all of the paid up additions standing to the credit of such policy, if any, and thereafter the Company shall be under no obligation to pay any further premiums under the Split Dollar Agreement. Coverage under the Company's major medical, accident, health, dental, disability and life insurance plans as from time to time provided to other executive employees of the Company (and, to the extent provided by such policies, to Xxxxxxx'x dependents) shall continue to be paid for by the Company during the Severance Period or, in the event of Xxxxxxx'x termination upon or following a Change of Control of the Company as defined in Paragraph 8.B., for the longer of the Severance Period or the remainder of Xxxxxxx'x and his spouse's life, and including children to age 21 as per coverage provided prior to the Change in Control. Provided, however, if such coverage cannot be continued during the Severance Period or until Xxxxxxx'x and his spouse's death, as the case may be, under the terms of such policies or plans, the Company shall reimburse Xxxxxxx for the cost of comparable coverage under individually obtained policies or for COBRA coverage, or shall make other arrangements to assure that Xxxxxxx has comparable coverage.

Insurance Programs. In the event Xxxxxxx'x Employee's employment with the Company is terminated upon or within twelve months following a Change in Control, the Split Dollar Agreement shall continue in full force and effect through the Severance Period and shall survive separate and apart from this Agreement, and the Company's obligation to pay all premiums pursuant to this Agreement shall continue in accordance with the terms of this Agreement for the Severance Period. On the Termination Date (except that for purposes of this provision, if Xxxxxxx'x employment is terminated under the circumstances set forth in Paragraph 10(C)(i) hereof, then notwithstanding anything in that provision, the Termination Date for purposes of this Paragraph shall be the thirtieth (30th) day following the date of receipt of the notice provided for therein)Date, or, if Xxxxxxx'x Employee's employment with the Company is terminated upon or within twelve months following a Change in Control, at the end of the Severance Period, Xxxxxxx Employee shall pay to the Company an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E.5.D., without interest thereon, and upon receipt of such payment the Company shall release its interest in the policy, or a portion thereof, on Xxxxxxx'x Employee's life acquired pursuant to the terms of the Split Dollar Agreement, or any or all of the paid up additions standing to the credit of such policy, if any, such that such released interest equals the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E. 5.D. Alternatively, if the Company elects to pay the Deferred Compensation to Xxxxxxx Employee within fifteen (15) days after the Termination Date pursuant to Paragraph 10.E.(iv) above, the Company at the time of such payment may demand payment from Xxxxxxx Employee of an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E.5.D., without interest thereon, and upon receipt of such payment release its interest in the policy, or portion thereof, acquired pursuant to the terms of the Split Dollar Agreement, and any or all of the paid up additions standing to the credit of such policy, if any, and thereafter the Company shall be under no obligation to pay any further premiums under the Split Dollar Agreement. Coverage under the Company's major medical, accident, health, dental, and disability and life insurance plans as from time to time provided to other executive employees of the Company (and, to the extent provided by such policies, to Xxxxxxx'x including Employee's dependents) shall continue to be paid for by the Company during the Severance Period or, in the event of Xxxxxxx'x termination upon or following a Change of Control of the Company same fashion as defined in Paragraph 8.B., for the longer of the Severance Period or the remainder of Xxxxxxx'x and his spouse's life, and including children to age 21 as per coverage provided prior to the Change in ControlTermination Date. Provided, however, if such coverage cannot be continued during the Severance Period or until Xxxxxxx'x and his spouse's death, as the case may be, under the terms of such policies or plans, the Company shall reimburse Xxxxxxx Employee for the cost of comparable coverage under individually obtained policies or for COBRA coverage, or shall make other arrangements to assure that Xxxxxxx Employee has comparable coverage.

Insurance Programs. In the event Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, the The Split Dollar Agreement shall continue in full force and effect through the Severance Period and shall survive separate and apart from this Agreement, and the Company's obligation to pay all premiums pursuant to this Agreement shall continue in accordance with the terms of this Agreement for the Severance Period. On the Termination Date (except that for purposes of this provision, if Xxxxxxx'x employment is terminated under the circumstances set forth in Paragraph 10(C)(i) hereof, then notwithstanding anything in that provision, the Termination Date for purposes of this Paragraph shall be the thirtieth (30th) day following the date of receipt of the notice provided for therein), or, if Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, at At the end of the Severance Period, Xxxxxxx Xxxxx shall pay to the Company an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment the Company shall release its interest in the policy, or a portion thereof, on Xxxxxxx'x Xxxxx'x life acquired pursuant to the terms of the Split Dollar Agreement, or any or all of the paid up additions standing to the credit of such policy, if any, such that such released interest equals the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E. Alternatively, if the Company elects to pay the Deferred Compensation to Xxxxxxx Xxxxx within fifteen (15) days after the Termination Date pursuant to Paragraph 10.E.(iv) above, the Company at the time of such payment may demand payment from Xxxxxxx Xxxxx of an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment release its interest in the policy, or portion thereof, acquired pursuant to the terms of the Split Dollar Agreement, and any or all of the paid up additions standing to the credit of such policy, if any, and thereafter the Company shall be under no obligation to pay any further premiums under the Split Dollar Agreement. Coverage under the Company's major medical, accident, health, dental, disability and life insurance plans as from time to time provided to other executive employees of the Company (and, to the extent provided by such policies, to Xxxxxxx'x Xxxxx'x dependents) shall continue to be paid for by the Company during the Severance Period or, in the event of Xxxxxxx'x Xxxxx'x termination upon or following a Change of Control of the Company as defined in Paragraph 8.B.8.C., for the longer of the Severance Period or the remainder of Xxxxxxx'x Xxxxx'x and his spouse's life, and including children to age 21 as per coverage provided prior to the Change in Control. Provided, however, if such coverage cannot be continued during the Severance Period or until Xxxxxxx'x Xxxxx'x and his spouse's death, as the case may be, under the terms of such policies or plans, the Company shall reimburse Xxxxxxx Xxxxx for the cost of comparable coverage under individually obtained policies or for COBRA coverage, or shall make other arrangements to assure that Xxxxxxx Xxxxx has comparable coverage.

Insurance Programs. In the event Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, the The Split Dollar Agreement shall continue in full force and effect through the Severance Period and shall survive separate and apart from this Agreement, and the Company's obligation to pay all premiums pursuant to this Agreement shall continue in accordance with the terms of this Agreement for the Severance PeriodPeriod (subject to Paragraph 13.B.(v) and 13.D.). On the Termination Date (except that for purposes of this provision, if Xxxxxxx'x employment is terminated under the circumstances set forth in Paragraph 10(C)(i) hereof, then notwithstanding anything in that provision, the Termination Date for purposes of this Paragraph shall be the thirtieth (30th) day following the date of receipt of the notice provided for therein), or, if Xxxxxxx'x employment with the Company is terminated upon or within twelve months following a Change in Control, at At the end of the Severance Period, Xxxxxxx Xxxxx shall pay to the Company an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment the Company shall release its interest in the policy, or a portion thereof, on Xxxxxxx'x Xxxxx'x life acquired pursuant to the terms of the Split Dollar Agreement, or any or all of the paid up additions standing to the credit of such policy, if any, such that such released interest equals the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E. Alternatively, if the Company elects to pay the Deferred Compensation to Xxxxxxx Xxxxx within fifteen (15) days after the Termination Date pursuant to Paragraph 10.E.(iv) above, the Company at the time of such payment may demand payment from Xxxxxxx Xxxxx of an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment release its interest in the policy, or portion thereof, acquired pursuant to the terms of the Split Dollar Agreement, and any or all of the paid up additions standing to the credit of such policy, if any, and thereafter the Company shall be under no obligation to pay any further premiums under the Split Dollar Agreement. Coverage under the Company's major medical, accident, health, dental, disability and life insurance plans as from time to time provided to other executive employees of the Company (and, to the extent provided by such policies, to Xxxxxxx'x Xxxxx'x dependents) shall continue to be paid for by the Company during the Severance Period or, in the event of Xxxxxxx'x termination upon or following a Change of Control of the Company as defined in Paragraph 8.B., for the longer of the Severance Period or the remainder of Xxxxxxx'x Xxxxx'x and his spouse's life, and including children to age 21 as per coverage provided prior to the Change in Control. Provided, however, if such coverage cannot be continued during the Severance Period or until Xxxxxxx'x and his spouse's death, as the case may be, foregoing time period under the terms of such policies or plans, the Company shall reimburse Xxxxxxx Xxxxx for the cost of comparable coverage under individually obtained policies or for COBRA coverage, or shall make other arrangements to assure that Xxxxxxx Xxxxx has comparable coverage.

Insurance Programs. In the event Xxxxxxx'x Xxxxxxx’x employment with the Company is terminated upon or within twelve months following a Change in Control, the Split Dollar Agreement shall continue in full force and effect through the Severance Period and shall survive separate and apart from this Agreement, and the Company's ’s obligation to pay all premiums pursuant to this Agreement shall continue in accordance with the terms of this Agreement for the Severance Period; provided, however, that in no event shall the Company have any obligation to pay any premiums after January 1, 2008. On the Termination Date (except that for purposes of this provision, if Xxxxxxx'x Xxxxxxx’x employment is terminated under the circumstances set forth in Paragraph 10(C)(i) hereof, then notwithstanding anything in that provision, the Termination Date for purposes of this Paragraph shall be the thirtieth (30th) day following the date of receipt of the notice provided for therein), or, if Xxxxxxx'x Xxxxxxx’x employment with the Company is terminated upon or within twelve months following a Change in Control, at the end of the Severance PeriodPeriod (but in no event later than January 1, 2008), subject to Paragraph 5.E.(iii).(a), Xxxxxxx shall pay to the Company an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment the Company shall release its interest in the policy, or a portion thereof, on Xxxxxxx'x Xxxxxxx’x life acquired pursuant to the terms of the Split Dollar Agreement, or any or all of the paid up additions standing to the credit of such policy, if any, such that such released interest equals the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E. Alternatively, if the Company elects to pay the Deferred Compensation to Xxxxxxx within fifteen (15) days after the Termination Date pursuant to Paragraph 10.E.(iv) above, the Company at the time of such payment may demand payment from Xxxxxxx of an amount equal to the total of all premiums paid by the Company on the split dollar policy(ies) acquired pursuant to Paragraph 5.E., without interest thereon, and upon receipt of such payment release its interest in the policy, or portion thereof, acquired pursuant to the terms of the Split Dollar Agreement, and any or all of the paid up additions standing to the credit of such policy, if any, and thereafter the Company shall be under no obligation to pay any further premiums under the Split Dollar Agreement. Coverage under the Company's ’s major medical, accident, health, dental, disability and life insurance plans as from time to time provided to other executive employees of the Company (and, to the extent provided by such policies, to Xxxxxxx'x Xxxxxxx’x dependents) shall continue to be paid for by the Company during the Severance Period or, in the event of Xxxxxxx'x Xxxxxxx’x termination upon or following a Change of Control of the Company as defined in Paragraph 8.B., for the longer of the Severance Period or the remainder of Xxxxxxx'x Xxxxxxx’x and his spouse's ’s life, and including children to age 21 as per coverage provided prior to the Change in Control. Provided, however, if such coverage cannot be continued during the Severance Period or until Xxxxxxx'x Xxxxxxx’x and his spouse's ’s death, as the case may be, under the terms of such policies or plans, the Company shall reimburse Xxxxxxx for the cost of comparable coverage under individually obtained policies or for COBRA coverage, or shall make other arrangements to assure that Xxxxxxx has comparable coverage.