Benefits and Insurance Contract Clauses (15)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Benefits and Insurance clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Benefits and Insurance. (a) The Executive shall be eligible to participate in all medical, dental, disability, life insurance (for an amount not less than the then base salary being received by the Executive) and other fringe benefits generally provided to other employees, as the Board shall determine from time to time. As to health insurance, the Bank shall provide family health insurance coverage. The Bank also shall reimburse the Executive for medical insurance coverage under COBRA until the earlier of 90 days follo...wing the date of this Agreement or the eligibility of the Executive for enrollment in the Bank's medical insurance plan. The Executive understands that eligibility for the Bank's benefit plans is contingent upon the Executive qualifying for eligibility under such plans. The Bank reserves the right to modify, suspend or terminate the Bank benefit plans at any time and from time to time. The Executive also shall be entitled to participate in the 2014 Share Appreciation Rights Plan (the "SAR Plan") of Parent, to the extent units are granted to the Executive by the Parent, all subject to the terms and conditions of the SAR Plan. (b) The Bank shall have the right to obtain on the life of the Executive, pay all premium amounts related to, and maintain, "key employee" insurance naming any of the Bank Group as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. The Executive shall cooperate fully with the Bank Group and the insurer in applying for, obtaining and maintaining such life insurance, by executing and delivering such further and other documents as the Bank Group and/or the insurer may request from time to time, and doing all matters and things which may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer. View More Arrow
Found in Professional Holding Corp. contract
Benefits and Insurance. (a) Generally. The Bank Group shall provide to the Executive shall be eligible to participate in all such medical, dental, disability, and life insurance (for an amount not less than the then base salary being received by the Executive) and insurance, as well as any other fringe benefits generally provided to other employees, or perquisites, as the Board Bank Group shall determine provide from time to time. time to its other senior executives. As to health insurance, the Bank Group shall provide... family health insurance coverage. The Bank also shall reimburse the Executive for medical insurance coverage under COBRA until the earlier of 90 days following the date of this Agreement or the eligibility of the Executive for enrollment in the Bank's medical insurance plan. The Executive understands that eligibility for the Bank's benefit plans is contingent upon the Executive qualifying for eligibility under such plans. The Subject to the terms of this Agreement, the Bank reserves the right to modify, suspend or terminate the Bank benefit plans of the Bank Group at any time and from time to time. The Executive also Once every five (5) years during the Term, the Bank Group shall be entitled to participate in the 2014 Share Appreciation Rights Plan (the "SAR Plan") of Parent, to the extent units are granted to pay or reimburse the Executive by for any reasonable out-of-pocket cost that the Parent, all subject to foregoing insurance does not cover for annual physicals for the terms and conditions of the SAR Plan. Executive. 3 (b) Key Employee Insurance. The Bank Group shall have the right to obtain on the life of the Executive, pay all premium amounts related to, and maintain, "key employee" insurance naming any of the Bank Group as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. The Executive shall shall, to the extent reasonably practicable, cooperate fully with the Bank Group and the insurer in applying for, obtaining and maintaining such life insurance, by executing and delivering such further and other documents as the Bank Group and/or the insurer may request from time to time, and doing all matters and things which may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer. The Bank Group shall pay or reimburse the Executive for any reasonable costs he incurs in connection with his commitments under this Section 5(b). (c) Supplemental Disability and Life Insurance. The Bank Group shall provide supplemental disability and life insurance for the benefit of the Executive or his estate (as the case may be) in such reasonable amount to cover the estimated difference between the "Unit Appreciation Payment" (as defined in the Parent's 2014 Share Appreciation Plan) in respect of outstanding SARs as provided in Section 8(e)(ii) and a Liquidity Event (as defined in the Parent's 2014 Share Appreciation Rights Plan) that may occur following the Executive's termination of employment due to death or Disability. The disability and life insurance provided for in this Section 5(c) shall be in addition to any other disability and life insurance that the Bank Group may provide to the Executive. View More Arrow
Found in Professional Holding Corp. contract
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