Benefit Term definition
Examples of Benefit Term in a sentence
Chubb LifeTime Benefit Term Proposed Benefits Chubb Lifetime Benefit Term LifeTime Benefit Term 19 - 70 19 - 70 Not Available Accelerated Death Benefit Rider for Terminal Illness After coverage has been in force for two years, employees can receive 50% of their death benefit immediately, up to $100,000, if they are diagnosed as terminally ill.
The Policy replaces any prior one given to The Policyholder by Us for Lifetime Benefit Term Insurance.
If Employee is terminated pursuant to this Section 4.2, Company shall pay to Employee (or his legal representative): (i) Severance, payable as described in Section 4.4.1(e), (ii) the Acceleration Payment, payable as described in Section 4.4.1(b), (iii) Severance Benefits for the Severance Benefit Term, and (iv) all reasonable expenses actually incurred or paid by Employee in the performance of his duties hereunder prior to the date of termination due to disability.
Following the termination of Employee hereunder or the expiration of the Severance Benefit Term (as defined in Section 4.4.1(e)), Employee and his eligible dependents shall be eligible for health care continuation under the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”) to the extent authorized by law and at Employee’s own cost.
If Employee is terminated pursuant to this Section 4.2, Company shall pay to Employee (or his legal representative): (i) Severance, payable as described in Section 4.4.1(c), (ii) the Acceleration Payment, payable as described in Section 4.4.1(a), (iii) Severance Benefits for the Severance Benefit Term, and (iv) all reasonable expenses actually incurred or paid by Employee in the performance of his duties hereunder prior to the date of termination due to disability.
Following the termination of Employee hereunder or the expiration of the Severance Benefit Term (if applicable), Employee and his eligible dependents shall be eligible for health care continuation under the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”) to the extent authorized by law and at Employee’s own cost.
For purposes of this Section 9.2, termination of this Agreement during the Severance Benefit Term as the result of the approval by the security holders of the Company of any plan or proposal for the liquidation or dissolution of the Company shall be deemed a termination without Good Cause.
If Company fails to timely cure or remedy the Material Change, then effective as of the Termination Date, this Agreement shall terminate and, subject to Executive’s compliance with Section 10.2(c) and provided that the Material Change occurred during the Severance Benefit Term, Executive shall be entitled to receive the Severance Pay and Severance Equity Incentive.
During the Project Benefit Term, JCI will be entitled to adjust savings guarantee to reflect and changes in the assumptions set forth above caused by Customers change in the number of CPUs or mode and hours of operation, failure to maintain or update the Power Management software in accordance with manufacturer’s recommendations, or any other reason not related to an act or omission of JCI.
For avoidance of doubt, we acknowledge that during the Post-Retirement Benefit Term you may be afforded the opportunity to serve on the board of directors of one or more financial institutions that do not conduct business in any of the market areas in which the Company or the Bank, and their respective affiliates, conduct business or to provide consulting services to such institutions.