The Continuation definition

The Continuation. Period shall mean the eighteen (18) month period following the date of a Covered Termination. Notwithstanding the above, the Company or the Bank may provide coverage and benefits under separate insured arrangements that provide benefits substantially identical to those being provided to the Executive at the time of the Covered Termination. In addition, the Executive's right to any particular type of Welfare Benefit shall be subject to cancellation by the Company or the Bank if the Executive obtains alternative coverage of a similar type during the Continuation Period that is at least as favorable to the Executive as the corresponding Welfare Benefit. The Executive shall be obligated to notify the Company of any such alternative coverage within thirty (30) days of it first becoming applicable to him.
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Examples of The Continuation in a sentence

  • The Continuation Adjustment will be allocated among the Contract Options in accordance with the current instructions for the Contract, subject to any minimum allocation restrictions unless the Company receives other allocation instructions with the Special Spousal Continuation Option election.

  • The Continuation Period shall be the period commencing on the date of termination of this Agreement and end twelve (12) months after the date of termination of this Agreement.

  • The Continuation Coverage provided to Executive and his dependents is intended to satisfy the continuation of coverage requirements of Section 4980B of the Code and Part 6 of Title I of the Employee Retirement Income Security Act of 1974, as amended (“COBRA”).

  • The Continuation Payments will be paid in equal installments over the applicable period immediately following termination of Executive’s employment.

  • The Continuation Period shall be counted as employment with the Corporation for purposes of vesting in each of the incentive awards heretofore or hereafter granted to the Executive by the Corporation, any contrary provisions of such awards or the applicable plan notwithstanding.

  • The Continuation Beneficiary may not assign his/her portion of the entire interest in this Contract.

  • The Continuation Period shall also be counted as employment with the Company for purposes of determining the expiration date of any stock option granted by the Company and held by the Employee when his employment terminates.

  • The Continuation Payments shall be paid monthly in accordance with the Company's normal payroll practices.

  • The Continuation Coverage Period shall cease prior to the end of the eighteenth (18th) month of such period in the event the Executive becomes covered under health insurance coverage of a subsequent employer which does not contain any exclusion or limitation with respect to any preexisting condition of the Executive or the Executive’s eligible dependents.

  • The Continuation Period shall run concurrently with any period for which the Executive is eligible to elect health coverage under COBRA.