Continued Employment The Option granted hereunder shall confer no right on Optionee to continue in the employ of the Company or any Subsidiary, or limit in any respect the right of the Company or any Subsidiary (in the absence of a specific agreement to the contrary) to terminate Optionee's employment at any time.
Board Membership During the Employment Term, Executive will serve as a member of the Board, subject to any required Board and/or stockholder approval.
Continued Service The Indemnitee shall continue to serve at the will of the Company as a Director of the Company so long as he is duly elected and qualified in accordance with the Regulations or until he resigns in writing in accordance with applicable law.
Continued Healthcare If Executive elects to receive continued healthcare coverage pursuant to the provisions of COBRA, the Company shall directly pay, or reimburse Executive for, the premium for Executive and Executive’s covered dependents through the earlier of (i) the first anniversary of the date of Executive’s termination of employment and (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s). Notwithstanding the foregoing, (i) if any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Code under Treasury Regulation Section 1.409A-1(a)(5), or (ii) the Company is otherwise unable to continue to cover Executive under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public Health Service Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive in substantially equal monthly installments. After the Company ceases to pay premiums pursuant to this Section 4(c), Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA.
Continued Benefits For a 36 month period after the Date of Termination (the "Benefits Period"), the Company shall provide the Executive with group term life, accident, long-term disability, medical, and health insurance coverage and benefits (collectively, "Welfare Benefits") that (a) subject to clause (b) hereof, are substantially similar in all respects to those which the Executive was receiving immediately prior to the Notice of Termination (without giving effect to any reduction in such benefits subsequent to a Change in Control that would constitute Good Reason); provided, however, (b) if a Change in Control involving National City Corporation occurs within 18 months of the date of this Agreement, in lieu of clause (a) hereof for portion of the Benefits Period commencing on and after the January 1 of the calendar year immediately following the calendar year in which the Change in Control occurred, are not less favorable in all respects to those being provided to actively employed senior executives of the Company from time-to-time after such January 1. During the Benefits Period, the Executive shall be entitled to elect to change his level of coverage and/or his choice of coverage options (such as the Executive only or family medical coverage) with respect to the Welfare Benefits to be provided by the Company to the Executive to the same extent that actively employed senior executives of the Company are permitted to make such changes; provided, however, that in the event of any such changes, the Executive shall pay the amount of any cost increase that would actually be paid by an actively employed senior executive of the Company by reason of making the same changes in his level of coverage or coverage options. In the event that the Executive becomes employed by a new employer and is eligible to receive health insurance and/or other welfare benefits ("New Coverage"), the Welfare Benefits coverage provided under this Section 3.2 shall be secondary to such New Coverage.