Common use of Continued Benefits Clause in Contracts

Continued Benefits. The Company shall continue to provide (i) for a period equal to the period Executive would be entitled to continuation coverage under a group health plan of the Company under Code §4980B following the Termination Date but in no event after Executive’s attainment of age sixty-five (65), Executive (and Executive’s dependents if applicable) with the same level of medical, dental, benefits and (ii) through the end of the last day of the second taxable year of the Company following the Termination Date, Executive (and Executive’s dependents if applicable) with the same level of accident, disability, life insurance and any other similar welfare benefits in place as of the Termination Date, in each case, upon substantially the same terms and conditions (including contributions required by Executive for such benefits) as existed immediately prior to Executive’s Termination Date (or, if more favorable to Executive, as such benefits and terms and conditions existed immediately prior to the date of the Change of Control); provided that, if Executive cannot continue to participate in the Company’s plans providing such benefits, the Company shall otherwise provide such benefits on the same after-tax basis as if continued participation had been permitted. Notwithstanding the foregoing, in the event Executive becomes employed with another employer and becomes eligible to receive welfare benefits from such employer, the welfare benefits described herein shall be secondary to such benefits during the period of Executive’s eligibility, but only to the extent that the Company reimburses Executive for any increased cost and provides any additional benefits necessary to give Executive the benefits provided hereunder.