Welfare Coverage. (a) An employee with one (1) or more years seniority may have his welfare coverage continued for six (6) months while on layoff.
Welfare Coverage. The Employer agrees to pay the coverage to the welfare plans in accordance with Article 28 for regular employees laid off for periods of less than six (6) months. In the event of a longer layoff, regular employees so affected will be given the right to continue this coverage through direct payments to the carrier. The provision to extend coverage in the event of a longer layoff does not apply to group life insurance.
Welfare Coverage. Buyer and the Company shall (A) waive all limitations as to preexisting conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to the employees of the Company under the Company Welfare Plans in which the Company’s employees and their dependents, participate as of the end of the Transition Services Period to the extent satisfied or waived under the applicable Seller Benefit Plan immediately prior to the end of the Transition Services Period and (B) provide each employee of the Company credit for any co-payments and deductibles paid prior to the end of the Transition Service Period in the calendar year in which the end of the Transition Service Period occurs, or, if later, in the calendar year in which the Company employees and their dependents, commence participation in the applicable Company Welfare Plan for purposes of satisfying any applicable deductible or out-of-pocket requirements under any Company Welfare Plan in which the employees are eligible to participate from and after the end of the Transition Service Period. With respect to Company employees and their dependents, Buyer and the Company shall be responsible in accordance with the Company Welfare Plans for all claims incurred after the later of the Closing Date or the end of any applicable Transition Services Period, and Seller shall be responsible in accordance with all Seller Benefit Plans for all claims incurred on or before the later of the Closing Date or the end of any applicable Transition Services Period. In addition, Buyer and the Company shall be responsible in accordance with the Company’s workers compensation program for all claims incurred after the Closing Date, and Seller shall be responsible in accordance with Seller’s workers compensation program for all claims incurred on or before the Closing Date. For purposes of the foregoing, a medical or dental claim shall be considered incurred when the medical services are rendered or medical supplies are provided, and not when the condition arose. A claim resulting in short-term or long-term disability benefits shall be considered incurred when the employee is first absent from work as a result of the injury or condition giving rise to such claim, a workers compensation claim shall be considered incurred when the claim is formally reported, and a death benefit claim shall be considered incurred when death occurs. A workers’ compensation claim shall be considered formally reported on...
Welfare Coverage. The Company shall provide Executive with coverage under the welfare plans in which Executive currently participates through the Retirement Date. Thereafter, Executive shall be treated as eligible to receive Retiree Medical coverage and for all purposes thereunder shall be treated as having been covered under a Sears medical option on the Retirement Date and as having been continuously covered for the ten (10) consecutive years immediately prior to the Retirement Date.
Welfare Coverage. For the two-year period during which severance payments are to be made, and so long as you are in compliance with the terms and conditions of this Agreement, you (and your eligible dependents) will be eligible for group medical coverage under the Company’s medical plan (or such medical plan as may be maintained from time to time by the Company for benefit of active employees), with such coverage to be provided on the same terms and conditions as provided under such medical plan. The COBRA cost of such medical coverage will be imputed to you as taxable income for the relevant period for which coverage is provided. In the event you should participate in another employer’s medical plan, this coverage will be secondary to the coverage provided under such plan. If you elect COBRA coverage under the Company’s dental and or vision plans, Rowan will make you a lump-sum payment of $908.10 to cover the differential between active employee and COBRA rates for an 18-month period. Such payment shall be made within 30 days of your election of such COBRA coverage.
