Common use of Insurance and Other Special Benefits Clause in Contracts

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. To the extent the Executive is eligible thereunder, for a period of twelve (12) 24 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 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.