CERTAIN INSURANCE BENEFITS Sample Clauses

CERTAIN INSURANCE BENEFITS. (i) In the event of the termination of Executive’s employment under this Agreement due to the retirement of the Executive at or after the attainment of age sixty-two (62), the Employer shall continue to provide the following benefits to the Executive, at the expense of the Employer, until the Executive’s death: (A) continuing coverage for the Executive and Executive’s Spouse under Employer’s health, medical, hospitalization and life insurance programs (including dental, vision and prescription drug coverage, if provided immediately prior to the termination); and (B) long term care insurance in accordance with paragraph (f) (LONG TERM CARE INSURANCE) of Section 3 above including making all required payments relating to such insurance coverage.
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CERTAIN INSURANCE BENEFITS. (i) In the event of the termination of the Executive’s employment under this Agreement due to “retirement” (as hereinafter defined), the Employer shall continue to provide the following benefits to the Executive, at the expense of the Employer, until the Executive’s death: (A) continuing coverage for the Executive and the Executive’s Spouse under the Employer’s health, medical, hospitalization and life insurance programs (including dental, vision and prescription drug coverage, if provided immediately prior to the termination); and (B) long term care insurance in accordance with paragraph (f) (LONG TERM CARE INSURANCE) of Section 3 above including making all required payments relating to such insurance coverage. The term “retirement” for purposes of this paragraph (g) shall mean the Executive: (a) terminates employment at or after the attainment of age 62; and (b) does not engage in any form of gainful employment on or after his termination of employment. The continued coverage under this subparagraph (g)(i) shall be for benefits at a level equivalent to the Executive’s benefits at the time of the Executive’s termination of employment. The continued coverage under this subparagraph (g)(i) shall terminate upon the Executive’s engaging in any gainful employment on or after his termination of employment.
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CERTAIN INSURANCE BENEFITS. If the employment of Employee (i) is terminated by the Company without Cause, (ii) is terminated due to the death or disability of Employee, or (iii) is terminated by Employee With Good Reason, the Company shall pay the insurance premium payable by Employee or his heirs, as the case may be, for continued insurance coverage under the insurance policies or programs of the Company pursuant to COBRA for or with respect to the duration of such COBRA coverage.
Sample 1
CERTAIN INSURANCE BENEFITS. If the group life insurance program provided by the Company at no cost to employees does not permit coverage for Executive equal to at least ten times Executive’s annual base salary, the Company will reimburse Executive for the premium cost of additional term life coverage for the difference between ten times Executive’s annual base salary and the amount of coverage provided by the Company at no cost to the Executive, up to a maximum reimbursement of $20,000 annually on an pre-tax basis and subject to tax withholding.
Sample 1

Related to CERTAIN INSURANCE BENEFITS

  • Group Insurance Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be paid or unpaid leave of absence contact the school district Employee Benefits Department.

  • Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of a fire or other casualty affecting the Property or any part thereof) out of such Insurance Proceeds.

  • HEALTH AND INSURANCE BENEFITS 22.01 All health and insurance benefit premium costs paid by the Employer shall prorate in accordance with the proration formula under Article 22.12 of this Agreement. Same sex spouse is eligible to be a dependent for insured benefits.

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 12 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 12 months after the date of Executive’s separation from service.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions.

  • Workplace Safety Insurance Benefits (WSIB) Top Up Benefits If the employee is in a class of employees that, on August 31, 2012, was entitled to use unused sick leave credits for the purpose of topping up benefits received under the Workplace Safety and Insurance Act, 1997;

  • Insurance Benefit The Employer may elect to provide incidental life insurance benefits for insurable Participants who consent to life insurance benefits by signing the appropriate insurance company application form. The Trustee will not purchase any incidental life insurance benefit for any Participant prior to an allocation to the Participant's Account. At an insured Participant's written direction, the Trustee will use all or any portion of the Participant's nondeductible voluntary contributions, if any, to pay insurance premiums covering the Participant's life. This Section 11.01 also authorizes the purchase of life insurance, for the benefit of the Participant, on the life of a family member of the Participant or on any person in whom the Participant has an insurable interest. However, if the policy is on the joint lives of the Participant and another person, the Trustee may not maintain that policy if that other person predeceases the Participant. The Employer will direct the Trustee as to the insurance company and insurance agent through which the Trustee is to purchase the insurance contracts, the amount of the coverage and the applicable dividend plan. Each application for a policy, and the policies themselves, must designate the Trustee as sole owner, with the right reserved to the Trustee to exercise any right or option contained in the policies, subject to the terms and provisions of this Agreement. The Trustee must be the named beneficiary for the Account of the insured Participant. Proceeds of insurance contracts paid to the Participant's Account under this Article XI are subject to the distribution requirements of Article V and of Article VI. The Trustee will not retain any such proceeds for the benefit of the Trust. The Trustee will charge the premiums on any incidental benefit insurance contract covering the life of a Participant against the Account of that Participant. The Trustee will hold all incidental benefit insurance contracts issued under the Plan as assets of the Trust created under the Plan.

  • Deductibles and Self-Insurance Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Consultant to provide proof of ability to pay losses and related investigation, claims administration and defense expenses within the deductible or self-insured retention. The deductible or self-insured retention may be satisfied by either the named insured or the City.

  • ’ Compensation Insurance and Disability Benefits Requirements Sections 57 and 220 of the New York State Workers’ Compensation Law require the heads of all municipal and state entities to ensure that businesses applying for contracts have appropriate workers’ compensation and disability benefits insurance coverage. These requirements apply to both original contracts and renewals. Failure to provide proper proof of such coverage or a legal exemption will result in a rejection of any contract renewal. Proof of workers’ compensation and disability benefits coverage, or proof of exemption must be submitted to OGS at the time of policy renewal, contract renewal and upon request. Proof of compliance must be submitted on one of the following forms designated by the New York State Workers’ Compensation Board. An XXXXX form is not acceptable proof of New York State workers’ compensation or disability benefits insurance coverage. Proof of Compliance with Workers’ Compensation Coverage Requirements:

  • WORKERS' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

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