Medical Continuation Benefits definition

Medical Continuation Benefits has the meaning assigned thereto in Section 4(c) hereof.
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Medical Continuation Benefits means continuation coverage under the Company’s major medical, dental and vision plans (collectively, the “Medical Plan”) for Employee and Employee’s spouse and dependents consistent with the level of coverage otherwise in effect as of Employee’s termination date for the period beginning on Employee’s termination date and ending on the earlier of (I) twelve (12) months after Employee’s termination date or (II) the date on which Employee, Employee’s spouse or Employee’s dependents obtains comparable alternative group coverage during the twelve (12) months after Employee’s termination (such period being referred to as the “Continuation Period”), at Employee’s sole expense, and for each year (or portion thereof) during the Continuation Period, the Company shall pay to Employee an amount such that, after the payment of all income and employment taxes due with respect to such amount, there remains an amount equal to the Company’s premium contribution paid with respect to its similarly-situated active employees for the level of coverage provided to Employee and Employee’s spouse and Employee’s dependents under the Medical Plan during the portion of the Continuation Period within such year. Any payments to be made to Employee pursuant to the preceding sentence shall be made no earlier than the Release Date (and only if the Release Requirements are satisfied as of the Release Date) and no later than March 15 of the year following the year to which they relate. The Medical Continuation Benefits shall not be deemed to offset or otherwise limit the period of continuation coverage otherwise available to Employee and Employee’s spouse or Employee’s dependents under section 4980B of the Code which shall be deemed to commence following the end of the Continuation Period and shall be provided at Employee’s sole expense. As used in this Agreement, the term “earned but unpaid Annual Bonus” shall refer to the non-discretionary portion of the Annual Bonus to which Employee would have been entitled had Employee remained employed in Employee’s position for the remainder of the fiscal year of termination and through the payment date for such Annual Bonus, prorated for the number of days during such year that Employee was employed by the Company. In no event shall Employee be permitted to elect the year of payment of any amount under this Section 2(a)(ii).
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Examples of Medical Continuation Benefits in a sentence

  • Without limiting the generality of the foregoing, such Medical Continuation Benefits shall be provided on substantially the same terms and conditions and at the same cost to the Executive as apply to similarly situated active employees of the Company.

  • In addition, Executive’s spouse and minor children shall be entitled to Medical Continuation Benefits.

  • Any Medical Continuation Benefits provided pursuant to this Section 4(c) shall be co-extensive with (and not in addition to) any benefits to which the Executive (and the Executive’s covered dependents) may be entitled under COBRA or similar provisions of applicable state law.

  • Any Medical Continuation Benefits provided pursuant to this Section 5(c) shall be co-extensive with (and not in addition to) any benefits to which the Executive (and the Executive’s covered dependents) may be entitled under COBRA or similar provisions of applicable state law.

  • Any Medical Continuation Benefits provided pursuant to this Section 5(d) shall be co-extensive with (and not in addition to) any benefits to which the Executive (and the Executive’s covered dependents) may be entitled under COBRA or similar provisions of applicable state law.

  • In the event the Company terminates the Executive’s employment hereunder for reason of Disability, the Company shall pay or provide to the Executive: (i) the Amounts and Benefits, (ii) the Prior Year Bonus, (iii) a Pro Rata Bonus and (v) the Medical Continuation Benefits.

  • In addition, the Executive’s spouse and minor children shall be entitled to Medical Continuation Benefits.

  • Forty-one women, who were admitted in labour ward with threatened preterm labour between 16 and36 weeks of gestation, were assigned in the study and 20 mg transdermal GTN patches were applied for tocolysis.

  • The Executive acknowledges and agrees that he shall be responsible in full for all taxes (including, to the extent applicable, interest and penalties) attributable to amounts includable in the Executive's income by reason Section 105(h) of the Internal Revenue Code of 1986, as amended, arising out of or associated with the Medical Continuation Benefits.

  • In the event the Company terminates the Executive’s employment hereunder for reason of Disability, the Company shall pay or provide to the Executive: (i) the Amounts and Benefits, (ii) the Prior Year Bonus, (iii) a Pro Rata Bonus and (iv) the Medical Continuation Benefits.

Related to Medical Continuation Benefits

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Termination Benefit means the benefit set forth in Article 7.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Employment benefits means all benefits provided or made

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • COBRA continuation provision means any of the following:

  • Additional Benefits means those benefits in addition to the rights and remedies available under the Australian Consumer Law.

  • Change in Control Benefits means the following benefits:

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.