Benefit Continuation means, subject to the continued co-payment of premiums by the Executive, the continued participation for the Executive and his or her eligible dependents in the Company’s Benefit Plans, upon the same terms and conditions in effect from time to time for active employees of the Company, as determined in good faith by the Company.
Benefit Continuation means the continuation of benefits set forth in Article III.B of this Plan during the Senior Officer’s Benefit Continuation Period.
Benefit Continuation means coverage for 18 months under the medical, dental, prescription and vision plans at the coverage elections in place just prior to termination of employment, but only to the extent comparable coverage is not provided by any new employer. Any increase in premium cost resulting from a change in your coverage election shall be borne by you. In order to receive such continued health benefits coverage, you must be eligible for and elect continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") under the terms of the applicable program for the first 18 months of such coverage, and such coverage shall be "alternative coverage" for purposes of COBRA.
Examples of Benefit Continuation in a sentence
The coverage period for purposes of the group health continuation requirements of Section 4980B of the Code shall commence at the expiration of the Welfare Benefit Continuation Period.
Following the Benefit Continuation Period, Employee shall be entitled to receive continuation coverage under Part 6 of Title I of ERISA (“COBRA Benefits”) by treating the end of this period as the applicable qualifying event (i.e., as a termination of employment) for purposes of ERISA Section 603(2)) and with the concurrent loss of coverage occurring on the same date, to the extent allowed by applicable law.
The Executive shall participate on the same terms and conditions in effect throughout the Benefit Continuation Period for active employees of the Corporation.
At the end of the Benefit Continuation Period, accidental death and dismemberment and life insurance benefits shall cease.
Benefit Continuation shall be provided concurrently with any health care benefit required under COBRA.
More Definitions of Benefit Continuation
Benefit Continuation has the meaning set forth in Section 2.01(c).
Benefit Continuation means that the Company shall maintain in full force and effect, for the continued benefit of the Executive and his dependents for a period equal to the greater of (x) the remaining period of the then current Term without giving effect to such termination or (y) two (2) years, all employee insurance benefit plans and programs to which the Executive was entitled prior to the Date of Termination (including, without limitation, the health, dental, vision, life and other voluntary insurance programs, but specifically excluding any company paid disability plan or program provided by the Company) if the Executive's continued participation is permissible under the general terms and provisions of such plans and programs and the Executive continues to pay all applicable premiums. In the event that the Executive's participation in any health, medical or life insurance plan or program is barred, the Company shall obtain and pay for, on the Executive's behalf, individual insurance plans, policies or programs which provide to the Executive health, medical, and life insurance coverage which is equivalent to the insurance coverage to which the Executive was entitled prior to the Date of Termination.
Benefit Continuation means continuing coverage for a Participant and, where applicable, the Participant’s covered spouse and covered eligible dependents under each of the Company’s group health and group life insurance plans for such period following the termination of the Participant’s employment with the Company and its Affiliates as is specified in Section 5 or 6 herein with respect to such termination of employment (or, if sooner, until corresponding coverage is obtained under a successor employer’s plan) at the same benefit and contribution levels in effect immediately prior to such termination of employment or, to the extent not permitted by the plan or by applicable law, cash payments sufficient to enable the Participant and/or the Participant’s covered spouse and covered eligible dependents, on an after tax basis, to obtain comparable individual coverage through the end of such period. The continuing group health plan coverage component of a Participant’s Benefit Continuation will be made available in addition to and not in lieu of COBRA continuation coverage.
Benefit Continuation means that the Company shall maintain in full force and effect, for the continued benefit of the Executive and his dependents for a period equal to the greater of (x) the remaining period of the then current Term without giving effect to such termination or (y) two (2) years, all employee insurance benefit plans and programs to which the Executive was entitled prior to the Date of Termination (including, without limitation, the health, dental, vision, life and other voluntary insurance programs, but specifically excluding any company paid disability plan or program provided by the Company) if thx Xxxxxxxxx'x xontinued participation is permissible under the general terms and provisions of such plans and programs and the Executive continues to pay all applicable premiums. In the event that the Executive's participation in any health, medical or life insurance plan or program is barred, the Company shall obtain and pay for, on the Executive's behalf, individual insurance plans, policies or programs which provide to the Executive health, medical, and life insurance coverage which is equivalent to the insurance coverage to which the Executive was entitled prior to the Date of Termination.
Benefit Continuation means the provision of welfare benefits such that the Executive shall continue to be covered by the same or equivalent medical, dental, disability and life insurance coverages as in effect for the Executive immediately prior to the termination of his employment, provided Executive elects such coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA), until the earlier of (1) the expiration of the period for which he receives severance pay pursuant this Agreement or (2) the date the Executive has commenced new employment and has thereby become eligible for comparable benefits or (3) in the case of a Permanent Disability, eighteen (18) [CEO: twenty-four (24)] months.
Benefit Continuation shall have the meaning set forth in Section 3.01(b).