eTrade 2002 Annual Report Download - page 205

(f)The Company has retained a life insurance policy on behalf of Executive with coverage of $10 million. Executive will be permitted to retain
that policy; provided, however , that he will be responsible for paying all future premiums. Executive understands that if such premiums are not
paid, the policy will lapse.
(g)Executive shall be permitted to continue to receive Long Term Care insurance as provided under the Long Term Care Insurance policy
provided to Executive; provided, however , that Executive shall be responsible for paying all future premiums after January 31, 2004. Executive
understands that if premiums after such date are not paid by him, the policy will lapse.
(h)Executive shall participate in all of the Company’ s group health insurance programs as an active participant through January 31, 2004.
Thereafter, Executive shall be permitted to continue to participate in the Company’ s group health insurance programs (including the Executive
Health Care Reimbursement Program) at his own expense in accordance with COBRA and/or its state equivalent.
(i)The Company shall amend all stock options held by Executive that have vested on or before the Resignation Date to provide that such
options shall remain exercisable through the first anniversary of the Resignation Date.
Executive acknowledges that except as expressly set forth in this Agreement, following the Resignation Date, he shall be entitled to no further
or additional payments or benefits from the Company.
3. SERP Benefits. Following the Resignation Date, Executive shall be entitled to receive distribution of vested benefits currently held in
Executive’ s SERP Account Balance in accordance with the terms of the SERP Plan Document. For the avoidance of doubt, the Executive’ s
vested SERP benefit as of the Resignation Date is approximately $5,100,000.
4. Covenants .
(a)Executive shall hold in strictest confidence and not use or disclose to any individual, partnership, corporation, limited liability company, trust
or other entity, without prior written authorization of the Board of Directors, any Confidential Information. “Confidential Information” means
any proprietary information, technical data, trade secrets and know-how of the Company, its subsidiaries and its affiliated entities, including,
but not limited to, research, product plans, products, services, customer lists and customers (including, but not limited to, actual or potential
customers of the Company, its subsidiaries and its affiliated entities), markets, software, developments, inventions, processes, formulas,
technology, designs, drawings, engineering, hardware configuration
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2003. EDGAR Online, Inc.