Common use of Insurance and Other Special Benefits Clause in Contracts

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.

Appears in 2 contracts

Samples: Employment Agreement (Shoe Pavilion Inc), Employment Agreement (American Mold Guard Inc)

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Insurance and Other Special Benefits. Executive's ’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 ’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 ’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.

Appears in 1 contract

Samples: Employment Agreement (MobilityPay Holdings, Inc.)

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 "BenefitsBenefiis") 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.

Appears in 1 contract

Samples: Employment Agreement (American Mold Guard Inc)

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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 ), any supplemental early retirement planplan other than the SERP, split dollar insurance program, personal health services allowance, health or social club benefits, and any other fringe benefits (the "Benefits") provided to the 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 the successor corporation (the "Responsible CorporationCompany"), ) at no cost to Executive, the Executive for a period of three (3) years from the date of the Executive's termination Termination of employmentEmployment. If for any reason the Responsible Corporation Company is unable to continue the Benefits, Benefits as required by the preceding sentence, the Responsible Corporation Company shall pay to the Executive a lump sum cash payment equal to the value of the Benefits which the Responsible Corporation Company is unable to provide.

Appears in 1 contract

Samples: Employment Agreement (Ryland Group Inc)

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