Common use of Medical and Dental Benefits Clause in Contracts

Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject to a Termination within the Covered Period, then to the extent that the Employee or any of the Employee's dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the termination, the Company will provide the Employee and those dependents with equivalent coverages for a period not to exceed twelve (12) months from the Termination Date. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee and the Employee's dependents comply with all of the conditions of the medical or dental plans. In the event the Employee or any of the Employee's dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company (or any Affiliate) plans will cease for the eligible Employee and/or dependent. The Employee and Employee's dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 3 contracts

Samples: Change of Control Agreement (Heartland Financial Usa Inc), Change of Control Agreement (Heartland Financial Usa Inc), Change of Control Agreement (Heartland Financial Usa Inc)

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Medical and Dental Benefits. If the Employee's Executive’s employment by the Company or any Affiliate or successor of the Company shall be subject to a Termination as provided in subsections (c) or (d) above within the Covered PeriodAgreement Term, then to the extent that the Employee Executive or any of the Employee's Executive’s dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will provide the Employee Executive and those dependents with equivalent coverages for a period not coverages, with the Executive required to exceed twelve (12) months from pay the Termination Datesame amount as he or she would pay if he or she continued in employment with the Company or an Affiliate during such period. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee Executive and the Employee's Executive’s dependents comply with all of the conditions of the medical or dental plans, with the cost to the Company not to exceed the cost for continued COBRA coverage. In the event the Employee Executive or any of the Employee's Executive’s dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company (or any Affiliate) plans will cease for the eligible Employee Executive and/or dependent. The Employee Executive and Employee's Executive’s dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee Executive and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 3 contracts

Samples: Employment Agreement (ISB Financial Corp.), Employment Agreement (ISB Financial Corp.), Employment Agreement (ISB Financial Corp.)

Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject to a Termination within the Covered Period, then to the extent that the Employee or any of the Employee's dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the termination, the Company will provide the Employee and those dependents with equivalent coverages for a period not to exceed twelve twenty-four (1224) months from the Termination Date. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee and the Employee's dependents comply with all of the conditions of the medical or dental plans. In the event the Employee or any of the Employee's dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company (or any Affiliate) plans will cease for the eligible Employee and/or dependent. The Employee and Employee's dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 3 contracts

Samples: Change of Control Agreement (Heartland Financial Usa Inc), Change of Control Agreement (Heartland Financial Usa Inc), Change of Control Agreement (Heartland Financial Usa Inc)

Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject Executive is entitled to a Termination within the Covered PeriodChange in Control Severance Amount hereunder, then to the extent that the Employee Executive or any of the Employee's Executive’s dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the terminationTermination Date, the Company will provide the Employee Executive and those dependents with equivalent coverages for a period not to exceed twelve twenty-four (1224) months from the Termination Date. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee Executive and the Employee's Executive’s dependents comply with all of the conditions of the medical or dental plans. In the event the Employee Executive or any of the Employee's Executive’s dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company the Company’s (or any Affiliate’s) plans will cease for the eligible Employee Executive and/or dependent. The Employee Executive and Employee's Executive’s dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee Executive and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease. The Company shall pay all premiums related to coverage provided by this Section 3 at the same time as premiums are paid with respect to active employees under the Company’s group health plan.

Appears in 2 contracts

Samples: Change in Control Agreement (Lakeland Financial Corp), Change in Control Agreement (Lakeland Financial Corp)

Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject Executive is entitled to a Termination within the Covered PeriodChange in Control Severance Amount hereunder, then to the extent that the Employee Executive or any of the EmployeeExecutive's dependents may be covered under nder the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the terminationTermination Date, the Company will provide the Employee Executive and those dependents with equivalent coverages for a period not to exceed twelve twenty-four (1224) months from the Termination Date. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee Executive and the EmployeeExecutive's dependents comply with all of the conditions of the medical or dental plans. In the event the Employee Executive or any of the EmployeeExecutive's dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company the Company's (or any Affiliate's) plans will cease for the eligible Employee Executive and/or dependent. The Employee Executive and EmployeeExecutive's dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee Executive and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 1 contract

Samples: Change in Control Agreement (Lakeland Financial Corp)

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Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject to a Termination within the Covered Period, then to the extent that the Employee or any of the Employee's dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the termination, the Company will provide the Employee and those dependents with equivalent coverages for a the shorter of (A) _____ or (B) the maximum period not allowed pursuant to exceed twelve (12Treasury Regulations Section 1.409A-1(b)(9)(v) months which would be exempt from the Termination Datedefinition of “deferred compensation” thereunder, with the Employee required to make no contribution to such Insurance Benefit during such period. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee and the Employee's dependents comply with all of the conditions of the medical or dental plans, with the cost to the Company not to exceed the cost for continued COBRA coverage. In the event the Employee or any of the Employee's dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company (or any Affiliate) plans will cease for the eligible Employee and/or dependent. The Employee and Employee's dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 1 contract

Samples: Change of Control Agreement (Heartland Financial Usa Inc)

Medical and Dental Benefits. If the Employee's employment by the Company or any Affiliate or successor of the Company shall be subject to a Termination within the Covered Period, then to the extent that the Employee or any of the Employee's dependents may be covered under the terms of any medical and dental plans of the Company (or any Affiliate) for active employees immediately prior to the termination, the Company will provide the Employee and those dependents with equivalent coverages for a period not to exceed twelve (12) months from _____ months, with the Termination DateEmployee required to make no contribution to such Insurance Benefit during such period. The coverages may be procured directly by the Company (or any Affiliate, if appropriate) apart from, and outside of the terms of the plans themselves; provided that the Employee and the Employee's dependents comply with all of the conditions of the medical or dental plans, with the cost to the Company not to exceed the cost for continued COBRA coverage. In the event the Employee or any of the Employee's dependents become eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer which plan benefits are comparable to Company (or any Affiliate) plan benefits, coverage under Company (or any Affiliate) plans will cease for the eligible Employee and/or dependent. The Employee and Employee's dependents must notify the Company (or any Affiliate) of any subsequent employment and provide information regarding medical and/or dental coverage available. In the event the Company (or any Affiliate) discovers that the Employee and/or dependent has become employed and not provided the above notification, all payments and benefits under this Agreement will cease.

Appears in 1 contract

Samples: Change of Control Agreement (Heartland Financial Usa Inc)

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