Medical Continuation. For the one year-period following the Effective Date, the Company will continue, or will cause the Company Bank to continue, to provide you with access to medical and dental coverage under its group plan as in effect from time to time with respect to similarly situated executives of the Company, including any cost sharing or contributions required to be made by you, provided, that, to the extent that the Company is unable to provide, or to cause the Company Bank to provide, you with (or ceases to be able to provide you with) such continuation coverage under the terms of its insurance policies as in effect from time to time, the Company Bank shall pay to you a cash payment equal to the Company Bank’s cost of providing such coverage (which cost is to be determined by reference to the “COBRA” premium applicable to such coverage) reduced by an amount equal to the then applicable employee contributions. You shall pay the Company Bank the employee share for such coverage, as determined by the Company Bank based on the cost of the coverage to be provided to you, on an annual basis in advance, with the first such installment payable on the Effective Date. Your eligibility for “COBRA” continuation coverage under Section 4980B of the Code shall commence upon the Effective Date and the COBRA coverage period shall run concurrently with and offset the one-year period under this Section 4(b). In the event that the Effective Date does not occur, you shall not be entitled to any benefit under this Section 4(b).
Medical Continuation. Employee and Employee’s spouse and dependents (each as defined under the applicable plan) shall receive Company-paid medical and dental insurance coverages for twenty-four (24) months at the same benefit level as provided to Employee immediately prior to the Change in Control (which such period shall be treated as “alternative coverage” for purposes of COBRA).
Medical Continuation. Executive’s insured group medical and dental benefits will continue to be effective through the later of Executive’s Termination Date or the Transition End Date.
Medical Continuation. Upon retirement the Executive and his dependents currently receiving group health, vision, and dental plan coverage will be given the opportunity to elect continuation of coverage at their current elections under the Company’s group health, vision, and dental plan in accordance with the applicable plan terms and as required by Section 4890B of the Internal Revenue Code (“COBRA”). For a period of 18 months after the Retirement Date, the Company will pay the normal COBRA premium charged by the Company for such continuation coverage, less the amount of any contribution required for similarly situated active employees.
Medical Continuation. The Executive currently receives group health, vision and dental plan coverage, but in partial consideration of payment of the sum set forth in Section 2(A)(ii) above, hereby waives any right, express or implied, as to any subsidy by the Company for continuing coverage under the Company’s group health, vision and dental plan in accordance with the applicable plan terms and as required by Section 4890B of the Internal Revenue Code (“COBRA”) and acknowledges that any continuation of COBRA coverage shall be at the Executive’s sole cost and expense.
