Common use of Benefits After Separation Clause in Contracts

Benefits After Separation. In the event of (i) separation not for Cause, as above specified, (ii) retirement at any time after the term of the Agreement, or (iii) retirement during the term of the Agreement if such retirement is agreed to by the Banks and the Executive, the Banks agree to make available to the Executive and his spouse (if such spouse was covered by the Banks' health benefits program before the separation or retirement) health benefits which are substantially similar to the health benefits provided to the Executive and his spouse (if applicable) prior to the termination or retirement. The Executive shall pay the same portion of the cost of such benefits as is paid by any other active officer of the Banks.

Benefits After Separation. In the event of (i) separation not for Cause, ------------------------- as above specified, (ii) retirement at any time after the term of the Agreement, or (iii) retirement during the term of the Agreement if such retirement is agreed to by the Banks and the Executive, the Banks agree to make available to the Executive and his spouse (if such spouse was covered by the Banks' health benefits program before the separation or retirement) health benefits which are substantially similar to the health benefits provided to the Executive and his spouse (if applicable) prior to the termination or retirement. The Executive shall pay the same portion of the cost of such benefits as is paid by any other active officer of the Banks.. MISCELLANEOUS -------------