Life Insurance Continuation. For the duration of the Benefits Continuation Period, Executive shall be reimbursed for life insurance coverage premiums (or provided life insurance coverage) at the same level of coverage as was provided to Executive immediately prior to his employment termination and at the same ratio of Company premium payment to Executive premium payment as was in effect immediately prior to such employment termination; provided, however that such coverage, premium payments, or reimbursements (to the extent Employee pays the premiums in the interim) shall be delayed six months and one day from Employee’s termination date (and then paid in full in arrears) to the extent required to avoid the imposition of additional tax under U.S. Internal Revenue Code Section 409A.
Appears in 4 contracts
Samples: Change of Control Severance Agreement (Business Objects S.A.), Change of Control Severance Agreement (Business Objects S.A.), Release of Claims (Business Objects S.A.)
