Common use of Medical, Dental and Vision Benefits Clause in Contracts

Medical, Dental and Vision Benefits. If Executive’s employment with the Bank is subject to a Termination, then, to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank 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”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank during such period. Such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank or any Affiliate. The coverage under this Section 4(e) may be procured directly by the Bank (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, dental or vision plan of a subsequent employer with plan benefits that are comparable to Bank (or any Affiliate) plan benefits, the Bank’s obligations under this Section 4(e) shall cease with respect to the eligible Executive and dependents. Executive and Executive’s dependents must notify the Bank (or any Affiliate) of any subsequent employment and eligibility for such comparable coverage.

Appears in 15 contracts

Samples: Employment Agreement (Bridgewater Bancshares Inc), Employment Agreement (Bridgewater Bancshares Inc), Employment Agreement (Bridgewater Bancshares Inc)

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Medical, Dental and Vision Benefits. If Executive’s employment with the Bank Company is subject to a Termination, then, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained 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 Bank or any AffiliateCOBRA, the Bank Company shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank for as long as Company, with Executive is eligible for and elects coverage under the health care continuation rules of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) shall cease with respect to the eligible Executive and and/or dependents. Executive and Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 11 contracts

Samples: Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If the Executive’s employment with the Bank Company is subject to a Termination, then, then to the extent that the Executive or any of the Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide the Executive will be and those dependents with coverage equivalent to the coverage received while the Executive was employed with the Company, with the Executive required to pay the same amount as the Executive would pay if the Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 5 contracts

Samples: Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If the Executive’s 's employment with the Bank Company is subject to a Termination, then, then to the extent that the Executive or any of the Executive’s 's dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide the Executive will be and those dependents with coverage equivalent to the coverage received while the Executive was employed with the Company, with the Executive required to pay the same amount as the Executive would pay if the Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s 's dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s 's dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the Bank’s Company's obligations under this Section 4(e) shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s 's dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 4 contracts

Samples: Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.), Employment Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If Executive’s employment with the Bank Employer is subject to a Termination, then, to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical, dental dental, or vision plans maintained for active employees of the Bank Employer or any Affiliate, the Bank Employer shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank Employer 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”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank Employer during such period. Such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Employer or any Affiliate. The coverage under this Section 4(e5(f) may be procured directly by the Bank Employer (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical, dental dental, or vision plans, and provided, further, that the cost to the Bank Employer shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, dental dental, or vision plan of a subsequent employer with plan benefits that are comparable to Bank Employer (or any Affiliate) plan benefits, the BankEmployer’s obligations under this Section 4(e5(f) shall cease with respect to the eligible Executive and dependents. Executive and Executive’s dependents must notify the Bank (or any Affiliate) Employer of any subsequent employment and eligibility for such comparable coverage.

Appears in 3 contracts

Samples: Employment Agreement (QCR Holdings Inc), Employment Agreement (QCR Holdings Inc), Employment Agreement (QCR Holdings Inc)

Medical, Dental and Vision Benefits. If Executive’s employment with the Bank is subject to Executive incurs a TerminationTermination within the Covered Period, then, then to the extent that the Executive or any of the Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide the Executive will be and those dependents with coverage equivalent to the coverage received while the Executive was employed with the Company, with the Executive required to pay the same amount as the Executive would pay if the Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) 3 may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) 3 shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 1 contract

Samples: Change of Control Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If Executive’s employment with the Bank Company is subject to a Termination, then, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained 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 Bank or any AffiliateCOBRA, the Bank Company shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank for as long as Company, with Executive is eligible for and elects coverage under the health care continuation rules of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) shall cease with respect to the eligible Executive and and/or dependents. Executive and Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverage.provide information regarding medical and/or dental and/or vision coverage available. (f)

Appears in 1 contract

Samples: Employment Agreement (MidWestOne Financial Group, Inc.)

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Medical, Dental and Vision Benefits. If Executive’s employment with the Bank is subject to Executive incurs a TerminationTermination within the Covered Period, then, then to the extent that the Executive or any of the Executive’s 's dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide the Executive will be and those dependents with coverage equivalent to the coverage received while the Executive was employed with the Company, with the Executive required to pay the same amount as the Executive would pay if the Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) 3 may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s 's dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s 's dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the Bank’s Company's obligations under this Section 4(e) 3 shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s 's dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 1 contract

Samples: Change of Control Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If Executive’s employment with the Bank is subject to Executive incurs a TerminationTermination within the Covered Period, then, then to the extent that the Executive or any of the Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA (defined below), the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide at the Company’s cost, the Executive will be required and those dependents with coverage equivalent to pay the same amount as coverage received while the Executive would pay if Executive continued in active employment was employed with the Bank during Company; provided, however, that such period. Such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any AffiliateAffiliate for failing to comply with applicable federal rules. The coverage coverages under this Section 4(e) 3 may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) 3 shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 1 contract

Samples: Change in Control Agreement (Lakeland Financial Corp)

Medical, Dental and Vision Benefits. If Executive’s employment with Executive incurs a Termination within the Bank is subject to a TerminationCovered Period, then, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained 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 Bank or any AffiliateCOBRA, the Bank Company shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank for as long as Company, with Executive is eligible for and elects coverage under the health care continuation rules of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e) 3 may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e) 3 shall cease with respect to the eligible Executive and and/or dependents. Executive and Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 1 contract

Samples: Change in Control Agreement (MidWestOne Financial Group, Inc.)

Medical, Dental and Vision Benefits. If the Executive’s employment with the Bank Company is subject to a Termination, then, then to the extent that the Executive or any of the Executive’s dependents may be covered under the terms of any medical, dental or vision plans maintained of the Company (or any Affiliate) for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent immediately prior to the coverage received while Executive was employed with the Bank Termination, then, for as long as Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Company shall provide the Executive will be and those dependents with coverage equivalent to the coverage received while the Executive was employed with the Company, with the Executive required to pay the same amount as the Executive would pay if the Executive continued in active employment with the Bank Company during such period. Such ; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Bank Company or any Affiliate. The coverage coverages under this Section 4(e5(e) may be procured directly by the Bank Company (or any Affiliate, if appropriate) apart from and outside of the terms of the respective plans, provided that the Executive and the Executive’s dependents comply with all of the terms of the substitute medical, dental or vision plans, and provided, further, that the cost to the Bank Company shall not exceed the cost for continued COBRA coverage. In the event the Executive or any of the Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, medical and/or dental or and/or vision plan of a subsequent employer with plan benefits that are comparable to Bank Company (or any Affiliate) plan benefits, the BankCompany’s obligations under this Section 4(e5(e) shall cease with respect to the eligible Executive and and/or dependents. The Executive and the Executive’s dependents must notify the Bank Company (or any Affiliate) of any subsequent employment and eligibility for such comparable coverageprovide information regarding medical and/or dental and/or vision coverage available.

Appears in 1 contract

Samples: Employment Agreement (MidWestOne Financial Group, Inc.)

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