Common use of Other Employment Benefits Clause in Contracts

Other Employment Benefits. A. The Corporation shall provide Executive with medical and hospitalization insurance coverage and retirement plans which in each case are no less favorable to Executive than those plans provided to the Corporation's senior executive officers generally (it being understood that to the extent the plans provide coverage for dependents of employees, Executive shall be entitled to such coverage for his dependents under the same terms as senior executives generally). The Corporation shall also provide Executive with life insurance coverage having a death benefit payable to a beneficiary selected by Executive equal to $250,000 and disability insurance which provides salary replacement benefits, not to exceed $250,000 in the aggregate, in the event Executive becomes incapacitated.

Other Employment Benefits. A. The Corporation shall provide Executive with medical and hospitalization insurance coverage and retirement plans which in each case are no less favorable to Executive than those plans provided to the Corporation's senior executive officers generally (it being understood that to the extent the plans provide coverage for dependents of employees, Executive shall be entitled to such coverage for his dependents under the same terms as senior executives generally). The Corporation shall also provide Executive with life insurance coverage at standard premium rates having a death benefit payable to a beneficiary selected by the Executive equal to $250,000 and disability insurance at standard premium rates which provides salary replacement benefits, not to exceed $250,000 in the aggregate, in the event Executive becomes incapacitated.

Other Employment Benefits. A. The Corporation shall provide Executive with medical and hospitalization insurance coverage and retirement plans which in each case are no less favorable to Executive than those plans provided to the Corporation's senior executive officers offices generally (it being understood that to the extent the plans provide coverage for dependents of employees, Executive shall be entitled to such coverage for his dependents under the same terms as senior executives generally). The Corporation shall also provide Executive with life insurance coverage having a death benefit payable to a beneficiary selected by Executive equal to $250,000 and disability insurance which provides salary replacement benefits, not to exceed $250,000 in the aggregate, in the event Executive becomes incapacitated.