Common use of Participation in Retirement, Medical and Other Plans Clause in Contracts

Participation in Retirement, Medical and Other Plans. During the term of this Agreement, the Employee shall participate in any plan that the Bank maintains for the benefit of its employees if the plan relates to (1) pension, profit-sharing, or other retirement benefits, or (ii) medical insurance or the reimbursement of medical or dependent care expenses. If the Employee ceases employment with the Bank for any reason other than death or “Just Cause” (as defined in Section 9(c) hereof), then notwithstanding termination of the Employee’s employment or of this Agreement, the Bank shall provide the Employee and his dependents with coverage under the Bank’s group health insurance plan (and if the Bank maintains more than one plan for its employees, any one of such plans selected by the Employee in accordance with the general procedures by which the Bank’s full-time employees make such elections). The Bank shall bear the full cost for said coverage, which shall continue until the Employee’s death, with the terms and conditions thereof being determined from time to time as though the Employee had remained a full-time employee of the Bank (but with the Bank in all events paying the full cost for such insurance). The Bank shall also provide the Employee’s spouse with continued health insurance coverage (with the Bank paying the full cost for such insurance) for her lifetime.

Appears in 3 contracts

Samples: Exhibit 99 (Ajs Bancorp Inc), Employment Agreement (Ajs Bancorp Inc), Employment Agreement (Ajs Bancorp Inc)

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Participation in Retirement, Medical and Other Plans. During the term of this Agreement, the Employee shall participate in any plan that the Bank maintains for the benefit of its employees if the plan relates to (1i) pension, profit-sharing, or other retirement benefits, or (ii) medical insurance or the reimbursement of medical or dependent care expenses. If the Employee ceases employment with the Bank for any reason other than death or “Just Cause” (as defined in Section 9(c) hereof), then notwithstanding termination of the Employee’s employment or of this Agreement, the Bank shall provide the Employee and his dependents with coverage under the Bank’s group health insurance plan (and if the Bank maintains more than one plan for its employees, any one of such plans selected by the Employee in accordance with the general procedures by which the Bank’s full-time employees make such elections). The Bank shall bear the full cost for said coverage, which shall continue until the Employee’s death, with the terms and conditions thereof being determined from time to time as though the Employee had remained a full-time employee of the Bank (but with the Bank in all events paying the full cost for such insurance). The Bank shall also provide the Employee’s spouse with continued health insurance coverage (with the Bank paying the full cost for such insurance) for her lifetime.

Appears in 2 contracts

Samples: Employment Agreement (AJS Bancorp, Inc.), Exhibit 99 (Ajs Bancorp Inc)

Participation in Retirement, Medical and Other Plans. During the term of this Agreement, the Employee shall participate in any plan that the Bank maintains for the benefit of its employees if the plan relates to (1) pension, profit-sharing, or other retirement benefits, or (ii) medical insurance or the reimbursement of medical or dependent care expenses. If the Employee ceases employment with the Bank for any reason other than death or "Just Cause" (as defined in Section 9(c) hereof), then notwithstanding termination of the Employee’s 's employment or of this Agreement, the Bank shall provide the Employee and his dependents with coverage under the Bank’s 's group health insurance plan (and if the Bank maintains more than one plan for its employees, any one of such plans selected by the Employee in accordance with the general procedures by which the Bank’s 's full-time employees make such elections). The Bank shall bear the full cost for said coverage, which shall continue until the Employee’s 's death, with the terms and conditions thereof being determined from time to time as though the Employee had remained a full-time employee of the Bank (but with the Bank in all events paying the full cost for such insurance). The Bank shall also provide the Employee’s 's spouse with continued health insurance coverage (with the Bank paying the full cost for such insurance) for her lifetime.

Appears in 1 contract

Samples: Employment Agreement (Ajs Bancorp Inc)

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Participation in Retirement, Medical and Other Plans. During the ---------------------------------------------------- term of this Agreement, the Employee shall participate in any plan that the Bank maintains for the benefit of its employees if the plan relates to (1i) pension, profit-sharing, or other retirement benefits, or (ii) medical insurance or the reimbursement of medical or dependent care expenses. If the Employee ceases employment with the Bank for any reason other than death or “Just Cause” "just cause" (as defined in Section 9(c) hereof), then notwithstanding termination of the Employee’s 's employment or of this Agreement, the Bank shall provide the Employee and his dependents with coverage under the Bank’s 's group health insurance plan (and if the Bank maintains more than one plan for its employees, any one of such plans selected by the Employee in accordance with the general procedures by which the Bank’s 's full-time employees make such elections). The Bank shall bear the full cost for said coverage, which shall continue until the Employee’s 's death, with the terms and conditions thereof being determined from time to time as though the Employee had remained a full-time employee of the Bank (but with the Bank in all events paying the full cost for such insurance). The Bank shall also provide the Employee’s spouse with continued health insurance coverage (with the Bank paying the full cost for such insurance) for her lifetime.

Appears in 1 contract

Samples: Employment Agreement (Ajs Bancorp Inc)

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