Common use of Post-termination Health Insurance Clause in Contracts

Post-termination Health Insurance. If Executive’s employment terminates with the Bank for any reason other than for cause, Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank maintains for its employees. This right shall be (i) in addition to, and not in lieu of; any other rights that Executive has under this Agreement and (ii) shall continue until Executive first becomes eligible for participation in Medicare.

Appears in 3 contracts

Samples: Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp)

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Post-termination Health Insurance. If the Executive’s 's employment ---------------------------------- terminates with the Bank for any reason other than for causeJust Cause, the Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank maintains for its employees. This right shall be (i) in addition to, and not in lieu of; , any other rights that the Executive has under this Agreement and (ii) shall continue until the Executive first becomes eligible for participation in Medicare.

Appears in 3 contracts

Samples: Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp)

Post-termination Health Insurance. If the Executive’s 's employment terminates with the Bank or the Company terminates for any reason other than for cause, the Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank or the Company maintains for its employees. This right shall be (i) in addition to, and not in lieu of; , any other rights that the Executive has under this Agreement Agreement, and (ii) shall continue until the Executive first becomes eligible for participation in Medicareentitled to Medicare coverage.

Appears in 1 contract

Samples: Employment Agreement (Haywood Bancshares Inc)

Post-termination Health Insurance. If the Executive’s 's employment ----------------------------------- terminates with the Bank for any reason other than for causeJust Cause, the Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank maintains for its employees. This right shall be (i) in addition to, and not in lieu of; , any other rights that the Executive has under this Agreement and (ii) shall continue until the Executive first becomes eligible for participation in Medicare.

Appears in 1 contract

Samples: Employment Agreement (Ameriana Bancorp)

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Post-termination Health Insurance. If the --------------------------------- Executive’s 's employment terminates with the Bank or the Company terminates for any reason other than for cause, the Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank or the Company maintains for its employees. This right shall be (i) in addition to, and not in lieu of; , any other rights that the Executive has under this Agreement Agreement, and (ii) shall continue until the Executive first becomes eligible for participation in Medicareentitled to Medicare coverage.

Appears in 1 contract

Samples: Stock Option Agreement (Haywood Bancshares Inc)

Post-termination Health Insurance. If the Executive’s employment terminates with the Bank for any reason other than for causeJust Cause, the Executive shall be entitled to purchase from the Bank, at his own expense which shall not exceed applicable COBRA rates, family medical insurance under any group health plan that the Bank maintains for its employees. This right shall be (i) in addition to, and not in lieu of; , any other rights that the Executive has under this Agreement and (ii) shall continue until the Executive first becomes eligible for participation in Medicare.

Appears in 1 contract

Samples: Employment Agreement (Ameriana Bancorp)

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