HEALTH CARE PLANS. At such time on or after the Effective Time as FirstMerit shall deem appropriate, FirstMerit and its Subsidiaries will provide CoBancorp and CoBancorp Subsidiaries employees hired by FirstMerit with such coverage under the FirstMerit health care plan as they then provide their employees, with all service with CoBancorp or any of the CoBancorp Subsidiaries credited for purposes of determining such employee's eligibility to participate in such plan and without any "prior existing condition" exclusion. The CoBancorp health care plans will be continued until the employees so hired can participate in the FirstMerit health care plans. No benefits currently provided CoBancorp or the CoBancorp Subsidiaries employees, which exceed those provided by FirstMerit and its subsidiaries, will be grandfathered or provided, except if required by law. Other than otherwise expressly stated herein, FirstMerit shall not assume any other health care benefit plans or benefits. FirstMerit, where such right currently exists, retains the existing rights to amend or terminate any such plan which have been reserved by the plan sponsor in the plan document or otherwise.
Appears in 3 contracts
Samples: Agreement of Affiliation and Plan (Firstmerit Corp), Agreement of Affiliation and Plan of Merger (Cobancorp Inc), Affiliation and Plan of Merger (Firstmerit Corp)
HEALTH CARE PLANS. At such time on or after the Effective Time as FirstMerit shall deem appropriate, FirstMerit and its Subsidiaries will provide CoBancorp Security First and CoBancorp Security First Subsidiaries employees hired by FirstMerit with such coverage under the FirstMerit health care plan as they then provide their employees, with all service with CoBancorp Security First or any of the CoBancorp Security First Subsidiaries credited for purposes of determining such employee's eligibility to participate in such plan and without any "prior existing condition" exclusion. The CoBancorp Security First health care plans will be continued until the employees so hired can participate in the FirstMerit health care plans. No benefits currently provided CoBancorp Security First or the CoBancorp Security First Subsidiaries employees, which exceed those provided by FirstMerit and its subsidiaries, will be grandfathered or provided, except if required by law. Other than otherwise expressly stated herein, FirstMerit shall not assume any other health care benefit plans or benefits. FirstMerit, where such right currently exists, retains the existing rights to amend or terminate any such plan which have been reserved by the plan sponsor in the plan document or otherwise.
Appears in 3 contracts
Samples: Agreement of Affiliation and Plan of Merger (Security First Corp), Agreement of Affiliation and Plan of Merger (Firstmerit Bank Na), Agreement of Affiliation and Plan of Merger (Firstmerit Bank Na)
