Insurance and Other Special Benefits. Continued coverage under the life insurance and medical, dental and prescription drug insurance or other coverage (i.e., provision of in kind benefits or reimbursement of expenses incurred by Executive covered by the medical, dental and prescription drug plans, to the extent the expenses are referred to in Section 105(b) of the Internal Revenue Code) of Kaydon and its Subsidiaries (or any successor plan or program in effect at or after termination of Executive’s employment for employees in the same class or category as was Executive prior to termination) for the period provided in (A), below, subject to the conditions provided in (B), below.
Insurance and Other Special Benefits. For three (3) years following an Executive’s Termination, Executive shall continue to be covered by the life insurance, medical insurance, dental insurance and accident and disability insurance plans of Parent and its subsidiaries or any successor plan or program in effect at or after Termination for employees in the same class or category as was Executive prior to his Termination. In the event, Executive is ineligible to continue to be so covered under the terms of any such benefit program, or, in the event the Executive is eligible but the benefits applicable to Executive under any such plan or program after Termination are not substantially equivalent to the benefits applicable to Executive immediately prior to Termination, then, Parent shall for a period of three years following his Termination date, pay, provide or cause to be provided, benefits, or such additional benefits as may be necessary to make the benefits applicable to the Executive substantially equivalent to those in effect before termination, through other sources; provided however, that if during such period Executive should enter into the employ of another company or firm which provides substantially similar benefit coverage, Executive’s participation in the comparable benefit provided by Parent either directly or through such other sources shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any Executive’s coverage under any plan or program to Parent or any of its subsidiaries or any successor plan or program thereto which Executive is entitled under the terms of such plan or program. Notwithstanding anything contained in this Agreement, the Executive understands that certain post-termination benefits may be taxable. The Executive agrees that neither the Bank nor the Parent will be liable to Executive for any tax assessed to Executive in connection with the post-termination benefits. Parent will cooperate with Executive to minimize or eliminate the tax effects to the Executive, provided that the Parent shall not be required to take any action that would significantly increase the cost to the Parent of providing such benefits. The welfare benefits that are not non-taxable medical benefits, “disability pay” or “death benefit” plans within the meaning of Treasury Regulation Section 1.409A-1(a)(5) shall be provided and administered in a manner that complies with regulations promulgated under Section 409A of the Internal Revenue...
Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided life insurance, disability and long term disability policies provided to the Executive on the date hereof or such successor policies in effect at the time of Executive’s termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he was covered at the time of the Executive’s termination. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health or other benefit program, plan or policy, the Company shall provide to Executive through other sources such benefits, including such additional benefits, as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such termination, provided that (i) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s participation in the comparable benefits provided by the Company, either directly or through such other sources, shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s coverage under any plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 24-month period, as the case may be, or at any other time.
Insurance and Other Special Benefits. During the eighteen month severance pay period, and if the Bank may do so under the terms of its benefit plans existing at the time of Termination, Executive shall continue to be covered by the life insurance, medical insurance, and accident and disability insurance plans of the Bank and its affiliates or any successor plan or program in effect at or after Termination for employees in the same class or category as was Executive prior to his Termination, subject to the terms of such plans and to Executive's making any payments therefor required of employees in the same class or category as was Executive prior to his Termination. In the event Executive is ineligible to continue to be so covered under the terms of any such benefit plan or program, Bank shall have no further obligation. Anything herein to the contrary notwithstanding, if during such period Executive should enter into the employ of another company or firm which provides substantially similar benefit coverage, Executive's participation in the comparable benefits provided by the Bank either directly or through such other sources shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive's coverage under any plan or program of the Bank or any of its affiliates, or any successor plan or program, to which Executive is entitled under the terms of such plan or program.
Insurance and Other Special Benefits. To the extent the Executive is eligible thereunder, for a period of twelve (12) months following termination pursuant to Section 7(e) hereof, the Executive shall continue to be provided life insurance policies provided to the Executive on the date hereof or such successor policies in effect at the time of the Executive's termination, and shall also continue to be covered for the applicable period by each other insurance, health or other benefit program, plan or policy (excluding long-term disability) by which he was covered at the time of the Executive's termination. In the event the Executive is ineligible to continue to be so covered under the terms of any such life insurance, health or other benefit program, plan or policy, the Company shall provide to the Executive through other sources such benefits (excluding long-term disability), including such additional benefits, as may be necessary to make the benefits applicable to the Executive substantially equivalent to those in effect immediately prior to such termination, provided that if during such period the Executive should enter into the employ of another company or firm which provides to the Executive substantially similar benefit coverage, the Executive's participation in the comparable benefits provided by the Company, either directly or through such other sources, shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of the Executive's coverage under any plan or program of the Company or any of its subsidiaries or any successor plan or program thereto to which the Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned twelve (12)-month period or at any other time. Upon termination of the Executive's employment under Section 7(d) or 7(e) hereof, any vesting, lapse of time or similar requirement under any stock option plan, restricted stock plan or other employee benefit or deferred compensation plan or program in which the Executive may participate shall be accelerated to the date of such termination and any conditions to the Executive's entitlement to any benefits under any of such plans or programs shall be deemed to have been satisfied.
Insurance and Other Special Benefits. Continued coverage under the life insurance, medical and dental insurance, and accident and disability insurance plans of Kaydon and its Subsidiaries (or any successor plan or program in effect at or after termination of Executive's employment for employees in the same class or category as was Executive prior to termination) for the period provided in (A), below, subject to the conditions provided in (B), below.
Insurance and Other Special Benefits. Executive's participation in the life, accident and health insurance, employee welfare benefit plans (as defined in the Employee Retirement Income Security Act of 1974) and supplemental early retirement plan, split dollar insurance program, personal health services allowance, health or social club benefits, and any other benefits (the "Benefits") provided to Executive prior to the Change of Control or prior to Executive's termination of employment for Good Reason shall be continued or equivalent benefits provided by the Company or any successor corporation or affiliate of such successor corporation (the "Responsible Corporation"), at no cost to Executive, for a period of three (3) years from the date of Executive's termination of employment. If for any reason the Responsible Corporation is unable to continue the Benefits, as required by the preceding sentence, the Responsible Corporation shall pay to Executive a lump sum cash payment equal to the value of the Benefits which the Responsible Corporation is unable to provide.
Insurance and Other Special Benefits. The Executive's participation in the life, accident and health insurance, employee welfare benefit plans (as defined in the Employee Retirement Income Security Act of 1974) and other fringe benefits (the "Benefits") provided to the Executive prior to the Change of Control or the Termination of Employment shall be continued or equivalent benefits provided by the Company at no cost to the Executive for a period of two (2) years from the date of the Executive's Termination of Employment. If for any reason the Company is unable to continue the Benefits as required by the preceding sentence, the Company shall pay to the Executive a lump sum cash payment equal to the value of the Benefits which the Company is unable to provide.
Insurance and Other Special Benefits. For a period of two (2) years, Executive shall continue to be covered by the life insurance, medical insurance, and accident and disability insurance plans of Equity and its subsidiaries or any successor plan or program in effect at or after Termination for employees in the same class or category as was Executive prior to his Termination, subject to the terms of such plans and to Executive's making any payments therefor required of employees in the same class or category as was Executive prior to his Termination. In the event Executive is ineligible to continue to be so covered under the terms of any such benefit plan or program, or, in the event Executive is eligible but the benefits applicable to Executive under any such plan or program after Termination are not substantially equivalent to the benefits applicable to Executive immediately prior to Termination, then, for a period of two (2) years, Equity shall provide such substantially equivalent benefits, or such additional benefits as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect before Termination, through other sources; provided, however, that if during such period Executive should enter into the employ of another company or firm, Executive's participation in the comparable benefit provided by Equity either directly or through such other sources shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive's coverage under any plan or program of Equity, or any of its subsidiaries or any successor plan or program thereto to which Executive is entitled under the terms of such plan.
Insurance and Other Special Benefits. Executive’s participation in the life, accident and health insurance plans of the Corporation, and in fringe benefits provided the Executive prior to the Change of Control or his Separation from Service, shall be continued, or equivalent benefits provided, by the Corporation, at no direct cost to him, for a period of three (3) years from the date of his Separation from Service (or until he attains age sixty-five (65), whichever is sooner).
