Common use of Other Consideration Clause in Contracts

Other Consideration. Hayden shall receive additional consideration as follows: i. Midland shall continue to pay its share of the premiums (or $235,269 per year) under the Split Dollar Life Insurance on the lives of Hayden and his spouse until the death of the survivor, provided, however, (x) Midland shall only be obligated to pay such premiums for a period of ten (10) years, (y) Midland may, at any time after the sixteenth (16th) anniversary date of the policy, request a return of all premiums Midland paid into the policy and (z) Midland may also take advantage of any premium reduction or minimum payment options under such policy provided Midland pays the equivalent of the sum of $235,269 for ten (10) years with such sum reduced by any special dividends, demutualization distributions or other policy distributions; ii. The Midland Health Insurance Plan shall be available at normal employee rates during the Term and after the Term. Hayden's coverage shall be secondary to Medicare after he reaches age 65, and Hayden's spouse shall be covered until she reaches age 65 at which time her coverage shall be secondary to Medicare; iii. During the Term, a car shall be provided by Midland consistent with the program in effect at the commencement of this Agreement; iv. Use of the Midland plane shall be available secondary to Midland's business use during the Term; v. During the Term, Midland shall continue to pay club dues for the clubs Hayden was a member (and Midland was paying such dues for such clubs) at the commencement date of this Agreement; vi. No director fees shall be paid during the Term; vii. Any existing stock options or stock grants of Hayden may be exercised at the earlier of the normal expiration date during the Term or for a period of three (3) years after the later of (x) the Expiration Date of this Agreement or (y) the date of retirement of Hayden as a member of the Board of Directors. Any future awards while a director during (or after the Term) will be equal to the stock awards of an outside director; viii. Midland shall provide Hayden with an office in headquarters building during the Term; ix. During the Term, Midland shall provide payment for Hayden's estate planning and annual tax preparation consistent with the current level of fees that were being paid at the commencement date of this Agreement; and x. On April 1, 2001, Midland shall provide for the payment in a single lump sum of the actuarial equivalent of Hayden's benefit from The Midland Company Supplemental Retirement Plan, and an additional payment equal to 45.6% of the benefit to provide for the payment of any federal, state and local income tax due on the payment of the benefit.

Other Consideration. Hayden shall receive additional consideration as follows: i. Midland shall continue to pay its share of the premiums (or $235,269 585,856 per year) under the Split Dollar Life Insurance on the lives of Hayden and his spouse until the death of the survivor, provided, however, (x) Midland shall only be obligated to pay such premiums for a period of ten (10) years, (y) Midland may, at any time after the sixteenth (16th) anniversary date of the policy, request a return of all premiums Midland paid into the policy and (z) Midland may also take advantage of any premium reduction or minimum payment options under such policy provided Midland pays the equivalent of the sum of $235,269 585,856 for ten (10) years with such sum reduced by any special dividends, demutualization distributions or other policy distributions; ii. The Midland Health Insurance Plan shall be available at normal employee rates during the Term and after the Term. Hayden's coverage shall be secondary to Medicare after he reaches age 65, and Hayden's spouse shall be covered until she reaches age 65 at which time her coverage shall be secondary to Medicare; iii. During the Term, a car shall be provided by Midland consistent with the program in effect at the commencement of this Agreement; iv. Use of the Midland plane shall be available secondary to Midland's business use during the Term; v. During the Term, Midland shall continue to pay club dues for the clubs Hayden was a member (and Midland was paying such dues for such clubs) at the commencement date of this Agreement; vi. No director fees shall be paid during the Term; vii. Any existing stock options or stock grants of Hayden may be exercised at the earlier of the normal expiration date during the Term or for a period of three (3) years after the later of (x) the Expiration Date of this Agreement or (y) the date of retirement of Hayden as a member of the Board of Directors. Any future awards while a director during (or after the Term) will be equal to the stock awards of an outside director; viii. Midland shall provide Hayden with an office in headquarters building during the Term; ix. During the Term, Midland shall provide payment for Hayden's estate planning and annual tax preparation consistent with the current level of fees that were being paid at the commencement date of this Agreement; and x. On April 1, 2001, Midland shall provide for the payment in a single lump sum of the actuarial equivalent of Hayden's benefit from The Midland Company Supplemental the Nonqualified Self-Directed Retirement Plan, and an additional payment equal to 45.6% of the benefit to provide for the payment of any federal, state and local income tax due on the payment of the benefit.

Other Consideration. Hayden Conaton shall receive additional consideration as follows: i. Midland shall continue to pay its share of the premiums (or $235,269 per year) under the Split Dollar Life Insurance on the lives of Hayden and his spouse until the death of the survivor, provided, however, (x) Midland shall only be obligated to pay such premiums for a period of ten (10) years, (y) Midland may, at any time after the sixteenth (16th) anniversary date of the policy, request a return of all premiums Midland paid into the policy and (z) Midland may also take advantage of any premium reduction or minimum payment options under such policy provided Midland pays the equivalent of the sum of $235,269 for ten (10) years with such sum reduced by any special dividends, demutualization distributions or other policy distributions; ii. The Midland Health Insurance Plan shall be available at normal employee rates during the Term and after the Term. HaydenConaton's coverage shall be secondary to Medicare after he reaches age 65, and HaydenConaton's spouse shall be covered until she reaches age 65 at which time her coverage shall be secondary to Medicare; iiiii. During the Term, a car shall be provided by Midland consistent with the program in effect at the commencement of this Agreement; iviii. Use of the Midland plane shall be available secondary to Midland's business use during the Termuse; v. iv. During the Term, Midland shall continue to pay club dues for the clubs Hayden Conaton was a member (and Midland was paying such dues for such clubs) at the commencement date of this Agreement; vi. v. No director fees shall be paid during the Term; viivi. Any existing stock options or stock grants of Hayden Conaton may be exercised at the earlier of the normal expiration date during the Term or for a period of three (3) years after the later of (x) the Expiration Date of this Agreement or (y) the date of retirement of Hayden Conaton as a member of the Board of Directors. Any future awards while a director during (or after the Term) will be equal to the stock awards of an outside director; viiivii. Midland shall provide Hayden Conaton with an office in headquarters building during the Term; ixviii. During the Term, Midland shall provide payment for HaydenConaton's estate planning and annual tax preparation consistent with the current level of fees that were being paid at the commencement date of this Agreement; and x. ix. On April 1, 2001, Midland shall provide for the payment in a single lump sum of the actuarial equivalent of HaydenConaton's benefit from The Midland Company Supplemental the Nonqualified Self-Directed Retirement Plan, and an additional payment equal to 45.6% of the benefit to provide for the payment of any federal, state and local income tax due on the payment of the benefit.

Other Consideration. Hayden shall receive LaBar sh▇▇▇ ▇eceive additional consideration as follows: i. Midland shall continue to pay its share of the premiums (or $235,269 277,420 per year) under the Split Dollar Life Insurance on the lives of Hayden and his LaBar an▇ ▇▇▇ spouse until the death of the survivor, provided, however, (x) Midland shall only be obligated to pay such premiums for a period of ten (10) years, (y) Midland may, at any time after the sixteenth (16th) anniversary date of the policy, request a return of all premiums Midland paid into the policy and (z) Midland may also take advantage of any premium reduction or minimum payment options under such policy provided Midland pays the equivalent of the sum of $235,269 277,420 for ten (10) years with such sum reduced by any special dividends, demutualization distributions or other policy distributions;. ii. The Midland Health Insurance Plan shall be available at normal employee rates during the Term and after the Term. HaydenLaBar's coverage ▇▇▇▇▇▇▇e shall be secondary to Medicare after he reaches age 65, and HaydenLaBar's spouse ▇▇▇▇▇▇ shall be covered until she reaches age 65 at which time her coverage shall be secondary to Medicare; iii. During the Term, a car shall be provided by Midland consistent with the program in effect at the commencement of this Agreement; iv. Use of the Midland plane shall be available secondary to Midland's business use during the Term; v. During the Term, Midland shall continue to pay club dues for the clubs Hayden was a member LaBar wa▇ ▇ ▇ember (and Midland was paying such dues for such clubs) at the commencement date of this Agreement; vi. No director fees shall be paid during the Term; vii. Any existing stock options or stock grants of Hayden may be LaBar ma▇ ▇▇ exercised at the earlier of the normal expiration date during the Term or for a period of three (3) years after the later of (x) the Expiration Date of this Agreement or (y) the date of retirement of Hayden LaBar as a member ▇ ▇▇mber of the Board of Directors. Any future awards while a director during (or after the Term) will be equal to the stock awards of an outside director; viii. Midland shall provide Hayden with an LaBar wi▇▇ ▇▇ office in headquarters building during the Term; ix. During the Term, Midland shall provide payment for HaydenLaBar's estate ▇▇▇▇▇▇ planning and annual tax preparation consistent with the current level of fees that were being paid at the commencement date of this Agreement; and x. On April 1, 2001, Midland shall provide for the payment in a single lump sum of the actuarial equivalent of HaydenLaBar's benefit ▇▇▇▇▇▇▇ from The Midland Company Supplemental Retirement Plan, and an additional payment equal to 45.6% of the benefit to provide for the payment of any federal, state and local income tax due on the payment of the benefit.