Common use of Continuation of Benefits Clause in Contracts

Continuation of Benefits. If, during the Employment Period, the Executive's employment is terminated other than for Cause, the Executive (and, to the extent applicable, his/her dependents) shall be entitled, after the Date of Termination until the earlier of (A) the third anniversary of the Date of Termination (the "End Date") and (B) the date the Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the individual and group health (including without limitation medical, dental and disability) and life employee benefits plans maintained by the Company, JHFS or an Affiliate and in which the Executive had been participating prior to the Date of Termination (the "Benefit Plans"). In addition, to the extent that, prior to the Date of Termination, the Company had been paying the premiums on any split-dollar life insurance policy with respect to the Executive, the Company shall, as to any such policy, continue the payment of such premiums until the later of the End Date or the date through which the Company otherwise would have paid premiums on such policy in the absence of a Change of Control. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or from the Company's general assets. The Executive's participation in the Benefit Plans will be on the same terms and conditions (including, without limitation, any condition that the Executive make contributions toward the cost of such coverage on the same terms and conditions generally applicable to similarly situated employees) that would have applied had the Executive continued to be employed by the Company through the End Date.

Appears in 12 contracts

Samples: Employment Continuation Agreement (Hancock John Financial Services Inc), Employment Continuation Agreement (Hancock John Financial Services Inc), Employment Continuation Agreement (Hancock John Financial Services Inc)

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Continuation of Benefits. If, during the Employment Period, the Executive's employment is terminated other than for Cause, the Executive (and, to the extent applicable, his/her dependents) shall be entitled, after the Date of Termination until the earlier of (A1) the third anniversary of the Date of Termination (the "End Date") and (B2) the date the Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the individual group health and group health (including without limitation medical, dental and disability) and life employee benefits plans maintained by the Company, JHFS or an Affiliate and in which the Executive had been participating prior to the Date of Termination (the "Group Benefit Plans"). In addition, to the extent that, prior to the Date of Termination, the Company had been paying the premiums on any a split-dollar life insurance policy with respect to the Executive, the Company shall, as to any such policy, continue the payment of such premiums until the later of the End Date or the date through which the Company otherwise would have paid premiums on such policy in the absence of a Change of Control. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or from the Company's general assets. The Executive's participation in the Group Benefit Plans will be on the same terms and conditions (including, without limitation, any condition that the Executive make contributions toward the cost of such coverage on the same terms and conditions generally applicable to similarly situated employees) that would have applied had the Executive continued to be employed by the Company through the End Date.

Appears in 8 contracts

Samples: Employment Continuation Agreement (Hancock John Financial Services Inc), Employment Continuation Agreement (Hancock John Financial Services Inc), Employment Continuation Agreement (Hancock John Financial Services Inc)

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Continuation of Benefits. If, during the Employment Period, the Executive's employment is terminated other than for Cause, the The Executive (and, to the extent applicable, his/her the Executive's dependents) shall be entitled, after the Date of Termination until the earlier of (A) the third anniversary of two and one half years from the Date of Termination (the "End Date"), to continue participation in all of the employee and executive plans providing medical, dental and long-term disability benefits that the Executive participated in prior to the Date of Termination (collectively, the "Continuing Benefit Plans"); provided that the participation by the Executive (and, to the extent applicable, the Executive's dependents) and (B) in any Continuing Benefit Plan shall cease on the date date, if any, prior to the End Date on which the Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the individual and group health employer (including without limitation medical, dental and disability) and life employee benefits plans maintained by the Company, JHFS or an Affiliate and in which the Executive had been participating prior to the Date of Termination (the "Benefit PlansPrior Date"). In addition, The Executive's participation in the Continuing Benefit Plans will be on the same terms and conditions that would have applied had the Executive continued to the extent that, prior to the Date of Termination, be employed by the Company had been paying or the premiums on any split-dollar life insurance policy with respect to Affiliate that employs the Executive, the Company shall, as to any such policy, continue the payment of such premiums until the later of Executive through the End Date or the date through which the Company otherwise would have paid premiums on such policy in the absence of a Change of ControlPrior Date. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide (or shall cause to be provided) a comparable benefit under another plan or from the Company's its general assets. The Executive's participation in ; provided that the Benefit Plans will be on Company shall pay the Executive additional cash payments to the extent necessary for the Executive to receive the same terms and conditions (including, without limitation, any condition net after-tax benefits that the Executive make contributions toward the cost of such coverage on the same terms and conditions generally applicable to similarly situated employees) that would have applied had received under such plans if the Executive had continued to be receive such plan benefits while employed by with the Company through the End DateCompany.

Appears in 6 contracts

Samples: Change in Control Agreement (Phoenix Companies Inc/De), Change in Control Agreement (Phoenix Companies Inc/De), Change in Control Agreement (Phoenix Companies Inc/De)

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