Common use of Post-Termination Benefits Clause in Contracts

Post-Termination Benefits. The benefits hereunder shall be deemed the "Other Compensation" referenced in Section 6(d), 6(e) and 6(f) hereof. Except if MEER resigns without Good Reason (other than retirement on or after the age of 62), in the event MEER's employment with the Corporation is terminated for any reason prior to the end of the Term, MEER and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which MEER was participating on the date of such termination, at a cost to MEER and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, MEER and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to MEER and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which MEER may be entitled upon termination of his Employment pursuant to any provision of this Agreement, MEER shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which MEER was participating on the date of any such termination

Appears in 1 contract

Samples: Employment Agreement (Pharmos Corp)

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Post-Termination Benefits. The benefits hereunder shall be deemed the "Other Compensation" referenced in Section 6(d), 6(e) and 6(f6(e) hereof. Except if MEER XXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event MEER's ANDRES’s employment with the Corporation is terminated for any reason prior to the end of the Term, MEER XXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which MEER XXXXXX was participating on the date of such termination, at a cost to MEER XXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, MEER XXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to MEER XXXXXX and his dependents equal to the amount charged paid by the Corporation to for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which MEER XXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, MEER XXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which MEER XXXXXX was participating on the date of any such termination.

Appears in 1 contract

Samples: Employment Agreement (Total Nutraceutical Solutions, Inc.)

Post-Termination Benefits. The benefits hereunder shall be deemed the "Other Compensation" referenced in Section 6(d), 6(e) and 6(f) hereof. Except if MEER XXXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event MEER's XXXXXXX’x employment with the Corporation is terminated for any reason prior to the end of the Term, MEER XXXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which MEER XXXXXXX was participating on the date of such termination, at a cost to MEER XXXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, MEER XXXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to MEER XXXXXXX and his dependents equal to the amount charged paid by the Corporation to for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which MEER XXXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, MEER XXXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which MEER XXXXXXX was participating on the date of any such termination.

Appears in 1 contract

Samples: Employment Agreement (Oxis International Inc)

Post-Termination Benefits. The benefits hereunder shall be deemed the "Other Compensation" referenced in Section 6(d), 6(e) and 6(f6(e) hereof. Except if MEER XXXXXXX resigns without Good Reason (other than retirement on or after the age of 62), in the event MEER's XXXXXXX’x employment with the Corporation is terminated for any reason prior to the end of the Term, MEER XXXXXXX and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which MEER XXXXXXX was participating on the date of such termination, at a cost to MEER XXXXXXX and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, MEER XXXXXXX and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to MEER XXXXXXX and his dependents equal to the amount charged paid by the Corporation to for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which MEER XXXXXXX may be entitled upon termination of his Employment pursuant to any provision of this Agreement, MEER XXXXXXX shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which MEER XXXXXXX was participating on the date of any such termination.

Appears in 1 contract

Samples: Employment Agreement (Total Nutraceutical Solutions, Inc.)

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Post-Termination Benefits. The benefits hereunder shall be deemed the "Other Compensation" referenced in Section 6(d), 6(e) and 6(f) hereof. Except if MEER NEILL resigns without Good Reason (other than retirement on or after the age of 62), in the event MEER's NEILL’s employment with the Corporation is terminated for any reason prior to the end of the Term, MEER NEILL and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which MEER NEILL was participating on the date of such termination, at a cost to MEER NEILL and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, MEER NEILL and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to MEER NEILL and his dependents equal to the amount charged paid by the Corporation to for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which MEER NEILL may be entitled upon termination of his Employment pursuant to any provision of this Agreement, MEER NEILL shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which MEER NEILL was participating on the date of any such termination.

Appears in 1 contract

Samples: Employment Agreement (Pharmos Corp)

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