Benefits After Sample Clauses

Benefits After. Age 70 - Employees who continue to be employed past age sixty-five (65) shall be eligible for the following benefits under the same conditions as other employees, with the exception of Life Insurance, which will be reduced by 50%. In any event, once an Employee reaches age seventy (70) and she continues to be employed in a position which would otherwise entitle her to benefit coverage, she shall automatically receive 3% in lieu of benefit coverage. Holiday and sick time entitlement shall remain unchanged.
Sample 1
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Benefits After the Term of this Agreement. In addition to the compensation to be paid to Galowich pursuant to Paragraph 5 hereof, to the fullest extent permitted under law, the Company shall make available to Galowich and his wife (if he subsequently marries and requests coverage for his wife at any time or from time to time thereafter), for the life of each of them, at the Company's expense with respect to Galowich, and at Galowich's expense with respect to his wife, all employee health benefits (including, without limitation, medical, dental, vision and other similar plans) which are maintained and/or paid for in whole or in part by the Company from time to time for its employees and its executives generally; provided that (i) the Company's obligations under this Paragraph 6(b) shall be suspended in whole or in part during all periods after December 31, 1996 in which health benefits at least as favorable as those to be made available hereunder are provided at no cost to Galowich as a result of the employment of Galowich by any employer (other than an employer with respect to which Galowich is the principal owner) subsequent to the termination of his employment by the Company, and (ii) if health benefits at least as favorable as those to be made available hereunder are provided to Galowich as a result of the employment of Galowich by any employer (other than an employer with respect to which Galowich is the principal owner) subsequent to the termination of his employment by the Company but Galowich is required to pay for such benefits, the Company, at its election, shall provide health benefits to Galowich hereunder or reimburse Galowich for amounts actually paid to his employer or others for such health benefits. Notwithstanding the provisions of this Paragraph 6(b), Galowich may from time to time elect not to accept such benefits for himself or his wife for any period of time but, if thereafter requested by Galowich, such benefits shall be made available to him or his wife. Nothing contained herein shall preclude the amendment or termination of any such programs, the increase in any premium payment or the reduction or elimination of any health benefit so long as it applies to all employees or executives of the Company, in general. The Company's obligations under this Paragraph 6(b) shall survive the termination of this Agreement for any reason except for a termination of Galowich's employment pursuant to Paragraph 8(c) hereof.
Sample 1

Related to Benefits After

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Post-Employment Benefits A. If Employee's employment is terminated by ARAMARK for any reason other than Cause, Employee shall be entitled to the following post-employment benefits:

  • Severance Plans Trident shall cause Fountain to establish the Fountain Severance Plans, each effective as of the Fountain Distribution Date and each in substantially the same form(s) as the Trident Severance Plans as provided by Trident in the online data room in Folders 8.2.2.3, 8.2.2.4 and 8.2.2.5 as of the date of this Agreement (provided that Trident will, prior to establishing such Fountain Severance Plans, amend Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.5 to be identical to Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.3 and such amended plan shall serve as the form for the corresponding Fountain Severance Plan) and, correspondingly, Fountain Employees and Former Fountain Employees who are currently eligible to receive or are receiving severance payments shall cease participating in the Trident Severance Plans on the Fountain Distribution Date. After the Fountain Distribution Date: (i) Fountain shall be solely responsible for (x) the payment of all Liabilities under the Trident Severance Plans (as amended pursuant to the proviso above) or Fountain Severance Plans relating to Fountain Employees and Former Fountain Employees, (y) the management and administration of the Fountain Severance Plans and (z) the payment of all employer-related costs in establishing and maintaining the Fountain Severance Plans, and (ii) Trident shall retain sole responsibility for (w) all Liabilities under the Trident Severance Plans or Fountain Severance Plans relating to Trident Employees and Former Trident Employees, (x) all Liabilities for severance or termination pay or benefits under individual agreements entered into with any Trident Employee or Former Trident Employee prior to the Fountain Distribution Date, (y) the management and administration of the Trident Severance Plans and (z) the payment of all employer-related costs in maintaining the Trident Severance Plans. In no event shall an employee or former employee receive a duplication of severance benefits. Except as provided below, Fountain shall be solely responsible for the adjudication of any claims filed by a Fountain Employee or Former Fountain Employee before, on or after the Fountain Distribution Date under a Trident Severance Plan. Notwithstanding the previous sentence, Trident shall be solely responsible for the adjudication of any claim filed by a Fountain Employee or Former Fountain Employee under a Trident Severance Plan before the Fountain Distribution Date that (A) has not been finally adjudicated by Trident on the day immediately preceding the Fountain Distribution Date; and (B) under the applicable claims procedure, Trident’s plan administrator or other authorized person or committee will have a less than sixty (60) day period after the Fountain Distribution Date to respond to such claim. Notwithstanding the previous sentence, if Trident’s response to such claim does not finally adjudicate the claim, Trident shall immediately upon sending its response to the claimant transfer administration of such claim to Fountain for final adjudication.

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Plan Termination The Plan Sponsor reserves the right to terminate this Plan in accordance with one of the following, subject to the restrictions imposed by Section 409A and authoritative guidance:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Benefits Acknowledged The Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits.

  • Benefits and Vacation The Executive shall be eligible to participate in such insurance programs (health, disability or life) or such other health, dental, retirement or similar employee benefits programs as the Board may approve, on a basis comparable to that available to other officers and executive employees of the Company. The Executive shall be entitled to a minimum of three (3) weeks of paid vacation per year. Vacation time may be accumulated for up to one year beyond the year for which it is accrued and may be used any time during such year. Any vacation time not used during such additional year shall be forfeited. The value of any accrued but unused and unforfeited vacation time shall be paid in cash to the Executive upon termination of Executive's employment for any reason.

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