Common use of Post-Termination Insurance Coverage Clause in Contracts

Post-Termination Insurance Coverage. (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank shall continue or cause to be continued at the Bank’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates. Notwithstanding the foregoing, if the Executive’s employment terminate for any reason, other than for Cause, after the Executive has attained age 55, the Bank shall provide the Executive and his dependents with medical insurance coverage that is not less favorable than the Bank provides for other executive officers, at no cost to the Executive, until the Executive first becomes eligible for Medicare. This last sentence shall survive the expiration of this Agreement.

Post-Termination Insurance Coverage. (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank Corporation shall continue or cause to be continued at the BankCorporation’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank Corporation or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates. Notwithstanding the foregoing, if the Executive’s employment terminate for any reason, other than for Cause, after the Executive has attained age 55, the Bank Corporation shall provide the Executive and his dependents with medical insurance coverage that is not less favorable than the Bank Corporation provides for other executive officers, at no cost to the Executive, until the Executive first becomes eligible for Medicare. This last sentence shall survive the expiration of this Agreement.

Post-Termination Insurance Coverage. (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank shall continue or cause to be continued at the Bank’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates. Notwithstanding the foregoing, if the Executive’s employment terminate terminates for any reason, other than for Cause, after the Executive has attained age 55, the Bank shall provide the Executive and his dependents with medical insurance coverage that is not less favorable than the Bank provides for other executive officers, at no cost to the Executive, until the Executive first becomes eligible for Medicare. This last sentence shall survive the expiration of this Agreement.

Post-Termination Insurance Coverage. (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank Corporation shall continue or cause to be continued at the BankCorporation’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank Corporation or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates. Notwithstanding the foregoing, if the Executive’s employment terminate terminates for any reason, other than for Cause, after the Executive has attained age 55, the Bank Corporation shall provide the Executive and his dependents with medical insurance coverage that is not less favorable than the Bank Corporation provides for other executive officers, at no cost to the Executive, until the Executive first becomes eligible for Medicare. This last sentence shall survive the expiration of this Agreement.