WELFARE PLAN CONTINUATION. The Employee and his or her dependents shall be eligible for coverage under the health (including medical and dental) plan, life insurance plan, and disability plan (if any) provided to full-time employees of Illinois Power Company (or its successor) from time to time, subject to the same requirements and limitations as are applicable to full-time employees (including, without limitation, any requirement for employee contributions to pay premiums for such coverage). Eligibility for each of such health coverage, life insurance coverage, and disability coverage, respectively, shall continue until the earliest of: (i) The first day the Employee becomes eligible for health coverage, life insurance coverage, or disability coverage, respectively, under a plan or arrangement of the Employee's new employer. (ii) In the case of health coverage and life insurance coverage, if the Employee has attained age 50 but has not attained age 52 on the date of termination, the Employee's 55th birthday; and if the Employee has not attained age 50, or is older than age 52 on the date of termination, the three-year anniversary of the Employee's Termination Event. In the case of disability coverage, the three-year anniversary of the Employee's Termination Event. (iii) The date the Employee attains age 65. Medical coverage provided under this section A-1(b) shall be counted towards the Company's obligation to provide coverage under the provisions of section 4980B of the Internal Revenue Code and section 601 of the Employee Retirement Income Security Act (sometimes referred to as "COBRA coverage").
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Sources: Settlement Agreement (Illinois Power Co), Settlement Agreement (Illinois Power Co)
WELFARE PLAN CONTINUATION. The Employee and his or her dependents shall be eligible for coverage under the health (including medical and dental) plan, life insurance plan, and disability plan (if any) provided to full-time employees of Illinois Power Company (or its successor) from time to time, subject to the same requirements and limitations as are applicable to full-time employees (including, without limitation, any requirement for employee contributions to pay premiums for such coverage). Eligibility for each of such health coverage, life insurance coverage, and disability coverage, respectively, shall continue until the earliest of:
(i) The first day the Employee becomes eligible for health coverage, life insurance coverage, or disability coverage, respectively, under a plan or arrangement of the Employee's new employer.
(ii) In the case of health coverage and life insurance coverage, if the Employee has attained age 50 but has not attained age 52 on the date of termination, the Employee's 55th birthday; and if the Employee has not attained age 50, or is older than age 52 on the date of termination, the three-year anniversary of the Employee's Termination Event. In the case of disability coverage, the three-year anniversary of the Employee's Termination Event.
(iii) The date the Employee attains age 65. Medical coverage provided under this section A-1(b1(d) shall be counted towards the Company's obligation to provide coverage under the provisions of section 4980B of the Internal Revenue Code and section 601 of the Employee Retirement Income Security Act (sometimes referred to as "COBRA coverage").
(a) the Employee has attained age 50 but has not attained age 55 on the date of termination of employment, and the Employee's medical and life coverage under this section 1(d) are continued until the Employee attains age 55, or (b) the Employee has attained age 55 on or before the date of termination of employment, then the Employee and his or her dependents, if any, shall be eligible to participate in any benefit plans of the Company which provide health and life or similar benefits coverage as are then extended to employees of the Company electing early retirement at age 55 on the same terms and subject to the same conditions as are applicable to such employees; provided that such coverage shall not be furnished if the Employee waives coverage by giving written notice of waiver to the Company. Nothing in the Settlement Agreement (including this Benefits Schedule) shall be construed to limit the right which the Company otherwise has to amend or termination any health, life or other plan covering the Company's employees (or their dependents)."
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