Common use of POST-TERMINATION LIFE AND MEDICAL COVERAGE Clause in Contracts

POST-TERMINATION LIFE AND MEDICAL COVERAGE. If the Executive’s employment terminates involuntarily but without Cause, or voluntarily but with Good Reason, or because of disability, BNC shall continue or cause to be continued at BNC’s expense life and medical insurance benefits in effect during the two years preceding the date of the Executive’s termination. The benefits provided by this Section 6.5 shall continue until the first to occur of (a) the Executive’s return to employment with BNC or another employer, (b) the Executive’s attainment of age 65, (c) the Executive’s death, or (d) the end of the term remaining under this Employment Agreement at the time of the Executive’s termination. If BNC cannot provide such benefits because the Executive is no longer an employee, BNC shall pay or cause to be paid to the Executive an amount in cash equal to the Executive’s cost to obtain such benefits.

Appears in 3 contracts

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

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POST-TERMINATION LIFE AND MEDICAL COVERAGE. If the Executive’s employment terminates involuntarily but without Cause, or voluntarily but with Good Reason, or because of disability, BNC the Bank shall continue or cause to be continued at BNCthe Bank’s expense life and medical insurance benefits in effect during the two years preceding the date of the Executive’s termination. The benefits provided by this Section 6.5 shall continue until the first to occur of (a) the Executive’s return to employment with BNC the Bank or another employer, (b) the Executive’s attainment of age 6555, (c) the Executive’s death, or (d) the end of the term remaining under this Employment Agreement at the time of the Executive’s termination. If BNC the Bank cannot provide such benefits because the Executive is no longer an employee, BNC the Bank shall pay or cause to be paid to the Executive an amount in cash equal to the Executive’s cost to obtain such benefits.

Appears in 1 contract

Samples: Employment Agreement (Bank of Wilmington CORP)

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POST-TERMINATION LIFE AND MEDICAL COVERAGE. If the Executive’s 's employment terminates involuntarily but without Cause, or voluntarily but with Good Reason, or because of disability, BNC shall continue or cause to be continued at BNC’s 's expense life and medical insurance benefits in effect during the two years preceding the date of the Executive’s 's termination. The benefits provided by this Section 6.5 section 4.4 shall continue until the first to occur of (a) the Executive’s 's return to employment with BNC or another employer, (b) the Executive’s 's attainment of age 65, (c) the Executive’s 's death, or (d) the end of the term remaining under this Employment Agreement at the time of the Executive’s 's termination. If BNC cannot provide such benefits because the Executive is no longer an employee, BNC shall pay or cause to be paid to the Executive an amount in cash equal to the Executive’s 's cost to obtain such benefits.

Appears in 1 contract

Samples: Employment Agreement (BNC Bancorp)

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