DISABILITY AND MEDICAL INSURANCE BENEFITS. Until the sooner of (1) the date which is three years after the termination of Executive's employment, or (2) the date of death of Executive, IFR will maintain in full force and effect all disability and medical insurance policy, plan or program coverage benefits for Executive to which Executive was entitled immediately prior to the termination of Executive's employment. If the terms of any disability or medical insurance policy, plan or program maintained by IFR do not permit the continued coverage of, and participation, by Executive, then IFR will arrange to provide to Executive a benefit substantially similar to, and at least as favorable as, the incremental benefit which Executive would have been entitled to receive under any such IFR policy, plan or program had the coverage and participation by Executive in such policy, plan or program continued from the date of Executive's termination of employment until a date three years thereafter. If the provision of the above benefits results in additional income being imputed to Executive for purposes of income or other taxes, within ten (10) days of Executive giving notice of the imputation of such income, IFR will pay to Executive, as an additional benefit under this Agreement, an amount equal to fifty percent (50%) of the amount of additional income being imputed to Executive as a result of the benefits provided under this Section 2.03. Executive shall also have the option, in lieu of the continuation of benefits for the three year period described above, to have assigned to him at no cost, and with no apportionment of prepaid premiums, any assignable disability or medical insurance policy specifically relating to Executive which is owned by IFR.
DISABILITY AND MEDICAL INSURANCE BENEFITS. Until the earlier of the date which is three years after the termination of the Executive's employment or the date of death of the Executive, Excel will maintain in full force and effect all disability and medical insurance policy, plan or program coverage benefits for the Executive which the Executive was entitled to immediately prior to the date of his termination. If the terms of any disability or medical insurance policy, plan or program maintained by Excel do not permit the continued coverage of and participation by the Executive, then Excel will arrange to provide to the Executive a benefit substantially similar to and at least as favorable as, the incremental benefit which the Executive would have been entitled to receive under any such Excel policy, plan or program had the coverage and participation by the Executive in such policy, plan or program continued from the date of the Executive's termination of employment until a date three years thereafter. The Executive shall also have the option, in lieu of the continuation of benefits for a three year period as described above, to have assigned to him at no cost and with no apportionment of prepaid premiums any assignable disability or medical insurance policy specifically relating to the Executive which is owned by Excel.
