Common use of WELFARE PLAN CONTINUATION Clause in Contracts

WELFARE PLAN CONTINUATION. For a thirty (30) month period after the Date of Termination, or if sooner, until the Executive reaches the age of sixty-five (65) years, the Corporation shall provide the Executive (at no cost to the Executive) with life, disability, accident and health insurance benefits substantially similar to those that the Executive is receiving immediately prior to any related Potential Change in Control or the receipt of the Notice of Termination (without giving effect to any reduction in such benefits subsequent to a Change in Control which reduction constitutes Good Reason), whichever is greater; provided, however, that the final 18 months of the continued coverage period hereunder shall be deemed to constitute the full amount of the Executive's entitlement to COBRA benefits as a result of the Executive's termination of employment. Upon the termination of the Executive's continued benefits provided under the prior sentence, the Executive shall be eligible to continue such benefits (at the Executive's cost) to the same extent that such benefits are provided by the Corporation thereafter (the "Continued Access Period") to comparable executives and, after the Executive attains age 65, to retired executives. Benefits otherwise receivable by the Executive pursuant to the first sentence of this Section 6.1(b) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during such period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Corporation by the Executive). Continued coverage during the Continued Access Period shall terminate if comparable benefits are made available to the Executive under any other policy or program (and the availability of any such benefits shall be reported to the Corporation by the Executive).

WELFARE PLAN CONTINUATION. For a thirty thirty-six (3036) month period after the Date of Termination, or if sooner, until the Executive reaches the age of sixty-five (65) years, the Corporation shall provide the Executive (at no cost to the Executive) with life, disability, accident and health insurance benefits substantially similar to those that the Executive is receiving immediately prior to any related Potential Change in Control or the receipt of the Notice of Termination (without giving effect to any reduction in such benefits subsequent to a Change in Control which reduction constitutes Good Reason), whichever is greater; provided, however, that the final 18 months of the continued coverage period hereunder shall be deemed to constitute the full amount of the Executive's entitlement to COBRA benefits as a result of the Executive's termination of employment. Upon the termination of the Executive's continued benefits provided under the prior sentence, the Executive shall be eligible to continue such benefits (at the Executive's cost) to the same extent that such benefits are provided by the Corporation thereafter (the "Continued Access Period") to comparable executives and, after the Executive attains age 65, to retired executives. Benefits otherwise receivable by the Executive pursuant to the first sentence of this Section 6.1(b) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during such period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Corporation by the Executive). Continued coverage during the Continued Access Period shall terminate if comparable benefits are made available to the Executive under any other policy or program (and the availability of any such benefits shall be reported to the Corporation by the Executive).