Common use of Welfare, Pension and Incentive Benefit Plans Clause in Contracts

Welfare, Pension and Incentive Benefit Plans. During the Term, the Company shall provide Executive with employee benefit plans and insurance programs on a basis no less favorable than that provided to other senior executives of the Company, including, without limitation, company-paid medical benefits; provided, that if the provision of such company-paid medical benefits would cause the imposition of any tax under Section 4980D of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”), the parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax.

Welfare, Pension and Incentive Benefit Plans. During the Term, the Company shall provide Executive with employee benefit plans and insurance programs on a basis no less favorable than that provided to other senior executives of the Companyplans, including, without limitation, company-paid medical benefits; provided, that if the provision of such company-paid medical benefits would cause the imposition of any tax under Section 4980D of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”), the parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax.

Welfare, Pension and Incentive Benefit Plans. During the Term, the Company shall provide Executive with employee benefit plans and insurance programs on a basis no less favorable than that provided as in effect with respect to other senior executives of the Company’s employees immediately prior to the Effective Date, including, without limitation, company-paid medical benefits; provided, that if the provision of such company-paid medical benefits would cause the imposition of any tax under Section 4980D of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”), the parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax.