Common use of Insurance and Other Special Benefits Clause in Contracts

Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided life insurance, disability and long term disability policies provided to the Executive on the date hereof or such successor policies in effect at the time of Executive’s termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he was covered at the time of the Executive’s termination. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health or other benefit program, plan or policy, the Company shall provide to Executive through other sources such benefits, including such additional benefits, as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such termination, provided that (i) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s participation in the comparable benefits provided by the Company, either directly or through such other sources, shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s coverage under any plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 24-month period, as the case may be, or at any other time.

Appears in 4 contracts

Samples: Employment Agreement (Ascent Energy Inc), Employment Agreement (Ascent Energy Inc), Employment Agreement (Ascent Energy Inc)

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Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided covered by the life and dependent life insurance, medical and dental insurance, and accident and disability insurance plans of Sonat and long term disability policies provided to the Executive on the date hereof its subsidiaries or such any successor policies plan or program in effect at Termination for employees in the time same class or category as Executive, subject to the terms of such plans and to Executive’s termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he was covered at the time of the Executive’s termination's making any required contributions thereto. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health benefit plan or other benefit program, plan or, in the event Executive is eligible but the benefits applicable to Executive are not substantially equivalent to the benefits applicable to Executive immediately prior to Termination, then, for a period of 36 months following Termination (or policyuntil Executive's Normal Retirement Date, the Company whichever is sooner), Sonat shall provide to Executive through other sources such substantially equivalent benefits, including or such additional benefits, benefits as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such terminationbefore Termination, provided through other sources; provided, however, that (i) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s 's participation in the comparable benefits benefit provided by the Company, Sonat either directly or through such other sources, sources shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s 's coverage under any plan or program of Sonat or any of its subsidiaries or any successor plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 2436-month period, as the case may be, period or at any other time.

Appears in 3 contracts

Samples: Executive Severance Agreement (Sonat Inc), Executive Severance Agreement (Sonat Inc), Executive Severance Agreement (Sonat Inc)

Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 36 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided life insurance, disability and long term disability policies provided to the Executive on the date hereof or such successor policies in effect at the time of Executive’s 's termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he she was covered at the time of the Executive’s 's termination. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health or other benefit program, plan or policy, the Company shall provide to Executive through other sources such benefits, including such additional benefits, as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such termination, provided that (i) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s 's participation in the comparable benefits provided by the Company, either directly or through such other sources, shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s 's coverage under any plan or program of the Company or any of its subsidiaries or any successor plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 2436-month period, as the case may be, or at any other time.

Appears in 1 contract

Samples: Employment Agreement (Coho Energy Inc)

Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided covered by the life and dependent life insurance, medical and dental insurance, and accident and disability insurance plans of Sonat and long term disability policies provided to the Executive on the date hereof its subsidiaries or such any successor policies plan or program in effect at Termination for employees in the time same class or category as Executive, subject to the terms of such plans and to Executive’s termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he was covered at the time of the Executive’s termination's making any required contributions thereto. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health benefit plan or other benefit program, plan or, in the event Executive is eligible but the benefits applicable to Executive are not substantially equivalent to the benefits applicable to Executive immediately prior to Termination, then, for a period of 36 months following Termination (or policyuntil Executive's Normal Retirement Date, the Company whichever is sooner), Sonat shall provide to Executive through other sources such substantially equivalent benefits, including or such additional benefits, benefits as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such terminationbefore Termination, provided through other sources; provided, however, that (i) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s 's participation in the comparable benefits benefit provided by the Company, Sonat either directly or through such other sources, sources shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s 's coverage under any plan or program of Sonat or any of its subsidiaries or any successor plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 24-month period, as the case may be, or at any other time.entitled

Appears in 1 contract

Samples: Executive Severance Agreement (Sonat Inc)

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Insurance and Other Special Benefits. To the extent Executive is eligible thereunder, for a period of 12 months following termination pursuant to Section 7(c), or for a period of 24 months following termination pursuant to Section 7(d) hereof, Executive shall continue to be provided life insurance, disability and long term disability policies provided to the Executive on the date hereof or such successor policies in effect at the time of Executive’s termination, and shall also continue to be covered for the applicable period by each other insurance, disability, health or other benefit program, plan or policy by which he was covered at the time of the Executive’s termination. In the event Executive is ineligible to continue to be so covered under the terms of any such life insurance, disability, long-term disability, insurance, health or other benefit program, plan or policy, the Company shall provide to Executive through other sources such benefits, including such additional benefits, as may be necessary to make the benefits applicable to Executive substantially equivalent to those in effect immediately prior to such termination, provided that (ift) the costs paid by the Company for such benefit programs do not exceed the costs which it would have paid if such benefit programs were still available to such Executive or (ii) if during such period Executive should enter into the employ of another company or firm which provides to Executive substantially similar benefit coverage, Executive’s participation in the comparable benefits provided by the Company, either directly or through such other sources, shall cease. Nothing contained in this paragraph shall be deemed to require or permit termination or restriction of any of Executive’s coverage under any plan or program thereto to which Executive is entitled under the terms of such plan or program, whether at the end of the aforementioned 12- or 24-month period, as the case may be, or at any other time.

Appears in 1 contract

Samples: Employment Agreement (Ascent Energy Inc)

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