Common use of Additional Separation Benefits Clause in Contracts

Additional Separation Benefits. In the event the Executive’s employment with the Company is terminated at any time during the Employment Period by the Company other than for Cause, Death or Disability, or the Executive’s voluntary separation from service for Good Reason or within three months preceding or twenty four months following a Change in Control, the Company shall permit for a period of three years following the Date of Termination, at the Company’s expense, the Executive, his spouse and dependents, as applicable (the “Benefit Participants”), to participate in all group medical health insurance plans and employee benefit plans, programs and arrangements now or hereafter made available to the senior executive employees of the Company (the “Plans”) (including but not limited to such Plans in which Executive was entitled to participate immediately prior to the Date of Termination), in the same manner provided to its other senior executive employees; provided, however, that this paragraph 6(4) shall not apply in the event that (i) the Company shall hereafter terminate the applicable Plan, or (ii) the participation of the Benefit Participants in such Plan is prohibited by law or, if applicable, would disqualify such Plan as a tax qualified plan pursuant to the Code, or (iii) the participation of the Benefit Participants violates the general terms and provisions of such applicable Plan. In the event that any of the Benefit Participants’ participation in such Plans is prohibited by law or, if applicable, would disqualify the Plan as a tax qualified plan, or the participation of the Benefit Participants violates the general terms and provisions of such applicable Plan, the Company shall permit the Benefit Participants to acquire substantially comparable coverage or benefits, at the Company’s expense, from a source of Executive’s or his spouse’s choosing, provided, however, that if provision of such coverage or benefit would result in a cost of excess of 130% of the cost to the Company if provided under a Company Plan, the Company may satisfy its obligations under this paragraph 6(4) by contributing to the Benefit Participants 130% of the cost to the Company under the Company Plans. Notwithstanding the foregoing, in no event will the Benefit Participants receive from the Company the coverage and benefits contemplated by this paragraph 6(4) if the Benefit Participants receive such coverage and benefits from any other source.” SIXTH A new Section shall be added to the end of the Agreement to read as follows: