Health, Life and Disability Insurance. Bank shall provide for Employee’s participation in group medical, dental, vision, life and disability insurance benefits available under the group insurance programs maintained by Bank for its employees. The amount paid by Bank for such group medical, dental, vision, life and disability insurance for Employee shall be an amount equal to that portion paid by Bank for each of its employees in accordance with its usual and customary practices. Employee shall have the right, in Employee’s discretion, to designate the beneficiary or beneficiaries of any such insurance. Bank reserves the right to modify and amend such benefits from time to time. As provided under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) respecting continuation of any insurance coverage, Employee shall, upon a loss of any such coverage for himself under Bank’s health, dental, and/or vision plans (if any) resulting from (1) termination of Employee’s employment (for any reason other than for gross misconduct) or (2) a reduction in his hours, be entitled to exercise her COBRA rights. Employee shall pay all premiums for any such continuation coverage(s) elected by Employee.
Health, Life and Disability Insurance. Executive and his dependents shall be entitled to participate in health, dental, vision, life and disability insurance plans that the Company offers to other executive officers of the Company from time to time.
Health, Life and Disability Insurance. During the Employment Period, Executive shall be entitled to participate in all employee benefit plans, practices, and programs maintained by the Company for its senior management (including but not limited to medical, disability, and life insurance), to the extent consistent with applicable law and pursuant to the terms of the plans and programs. To the extent not already provided in the foregoing, the Company also shall provide Executive, at Company expense, throughout the Employment Period: (i) term life insurance in the amount of two (2) million dollars (with the beneficiary to be named by Executive) with a reputable carrier; and (ii) short-term and long-term “own occupation” disability insurance (the latter providing no less than 60% earned income replacement through age 65) with a reputable carrier.
Health, Life and Disability Insurance. Bank shall provide for Employee’s participation, at Bank’s expense, in group medical, dental, vision, life and disability insurance benefits equivalent to the maximum benefits available under the group insurance programs maintained by Bank for its employees. Employee shall have the right, in Employee’s discretion, to designate the beneficiary or beneficiaries of any such insurance. Bank reserves the right to modify and amend such benefits from time to time. As provided under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) respecting continuation of any insurance coverage, Employee shall, upon a loss of any such coverage for himself under Bank’s health, dental, and/or vision plans (if any) resulting from (1) termination of Employee’s employment (for any reason other than for gross misconduct) or (2) a reduction in his hours, be entitled to exercise his COBRA rights. Employee shall pay all premiums for any such continuation coverage(s) elected by Employee.
Health, Life and Disability Insurance. MHS shall provide health insurance for Trainee and his/her immediate family in a manner consistent with the benefits provided to full-time employees, provided that Xxxxxxx’s immediate family members are listed on the health insurance enrollment card submitted to the Human Resources Department by Trainee. Such coverage shall be effective as of the first day of Trainee’s employment in the Training Program. Any addition or deletion of family members to the Trainee’s health insurance enrollment card must be made consistent with the MHS health and benefits plan document. MHS shall also provide life and disability insurance for Trainee.
Health, Life and Disability Insurance. Bank shall provide for Employee’s participation, at Bank’s expense, in group medical, dental, vision, life and disability insurance benefits equivalent to the maximum benefits available under the group insurance programs maintained by Bank for its employees. Employee shall have the right, in Employee’s discretion, to designate the beneficiary or beneficiaries of any such insurance. Bank reserves the right to modify and amend such benefits from time to time. As provided under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) respecting continuation of any insurance coverage, Employee shall, upon a loss of any such coverage for himself under Bank’s health, dental, and/or vision plans (if any) resulting from (1) termination of Employee’s employment (for any reason other than for gross misconduct) or (2) a reduction in his hours, be entitled to exercise his COBRA rights. Employee shall pay all premiums for any such continuation coverage(s) elected by Employee. In addition, Employee’s current stand alone disability policy shall remain in effect during the term of the Agreement and Bank shall continue to pay such contributions as necessary to maintain this policy in the form of Exhibit “B” hereto.
Health, Life and Disability Insurance. Section 4(e) of the Agreement is amended to read in its entirety as follows:
Health, Life and Disability Insurance. Bank shall provide for Employee’s participation, at Bank’s expense, in group medical, dental, vision, life and disability insurance benefits equivalent to the maximum benefits available under the group insurance programs maintained by Bank for its employees. Employee shall have the right, in Employee’s discretion, to designate the beneficiary or beneficiaries of any such insurance. Bank shall continue to pay Employee’s cancer insurance premiums during the Employment Term. Bank reserves the right to modify and amend such benefits from time to time. As provided under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) respecting continuation of any insurance coverage, Employee shall, upon a loss of any such coverage for himself under Bank’s health, dental, and/or vision plans (if any) resulting from (1) termination of Employee’s employment (for any reason other than for gross misconduct) or (2) a reduction in his hours, be entitled to exercise his COBRA rights. Employee shall pay all premiums for any such continuation coverage(s) elected by Employee.
Health, Life and Disability Insurance. Subject to the terms and conditions described below, the Company will continue to provide the Executive (and his spouse and eligible dependents, to the extent they have been provided with coverage on the date immediately prior to the Separation Date and otherwise continue to be eligible for coverage under the terms of the applicable governing documents) with group medical, dental, life and long-term disability insurance for 24 months following the Separation Date. During this 24-month period, the Company will reduce the Executive’s Separation Payments by his share of the cost of these benefits, which is fixed at the amount the Executive had been paying for such coverage on the date immediately prior to the Separation Date. The following table shows the monthly premium for each type of insurance and the amount payable by the Executive as of the Separation Date: Insurance Type Executive’s Cost Health Insurance (Medical and Dental) $ 265.00 Life Insurance $ 0.00 Long-term Disability Insurance $ 0.00 After expiration of this 24-month period, the Executive may continue his health care coverage for himself and his spouse through the date on which the Executive (or his spouse, as applicable) qualifies for Medicare. The Executive will be responsible for the portion of the premium paid by similarly situated employees with the same type of coverage. Payment of the health insurance premium will be due on the first of each month. If Executive fails to make a premium payment within 30 days of the due date of such premium, he will forfeit his medical and dental care benefits retroactively to the date such unpaid premium was due. To the extent required by law, after expiration of the health care benefits provided under this agreement, the Executive will be eligible to continue medical and dental plan coverage through COBRA. A COBRA letter will follow and provide details. The Executive may be subject to federal and state tax on the value of these coverages.
Health, Life and Disability Insurance. Bank shall provide for Employee’s participation, at Bank’s expense, in group medical, dental, vision, life and disability insurance benefits equivalent to the maximum benefits available under the group insurance programs maintained by Bank for its employees. Employee shall have the right, in Employee’s discretion, to designate the beneficiary or beneficiaries of any such insurance. As provided under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) respecting continuation of any insurance coverage, Employee shall, upon a loss of any such coverage for himself under Bank’s health, dental, and/or vision plans (if any) resulting from (1) termination of Employee’s employment (for any reason other than for gross misconduct) or (2) a reduction in his hours, be entitled to exercise his COBRA rights. Employee shall pay all premiums for any such continuation coverage(s) elected by Employee.
