Benefits Continuation means for the referenced period of time following the date of Executive's termination of employment with the Company or determination of Disability, that the Company shall provide or otherwise make available to Executive, an election (with respect to health and/or dental coverage under the Company's group health plan or under continuation coverage provisions of ERISA and the Code or under an individual paid plan) to ensure continued health insurance coverage either individually or under the Company's health, dental or other benefit plans and term life insurance benefit (collectively, the "Continuation Plans") on not less than the same terms and conditions as previously were in place for Executive. The cost to Executive of including Executive, his spouse and his dependents in any Continuation Plans shall be no more than that previously paid by the Executive and may be deducted from any regular payments made to Executive under this Agreement. If at any time, the Company is precluded by the terms of any of the Continuation Plans from providing such coverage to Executive, his spouse, or his dependents, for reasons to be beyond the control of the Company, such coverage shall be provided by any other available means and the Executive, his spouse and his dependents shall be entitled to continuation of coverage pursuant to any statutory rights Executive, his spouse or his dependents may then have under the group health plan continuation coverage provisions of ERISA and the Code, or otherwise, at the Company's expense. The prior provisions notwithstanding, the right of Executive, his spouse or dependents, to coverage as provided by the group health plan continuation coverage provisions of ERISA and the Code or otherwise shall be deemed to run concurrently with the continuation of health and/or dental benefits under the first sentence of this paragraph. Any expense incurred by Executive, legal or otherwise, incurred to enforce this or other provision of this Agreement, shall be paid by the Company.
Benefits Continuation means that the Company shall reimburse a Participant for the difference between the monthly COBRA premium (other than for health flexible savings account coverage) paid by such Participant for Participant and Participant’s dependents and the monthly premium amount for such group health plan coverage paid by similarly situated active executives of the Company. For the avoidance of doubt, if the Participant is not covered under the medical, dental and/or vision portions of the Company’s group health plan as of the date of termination, then he or she is ineligible for Benefits Continuation.
Benefits Continuation means the continuation of medical, dental and vision benefits that are provided, as described in Section III.
Examples of Benefits Continuation in a sentence
The Union recognizes the benefits contained in the CHUM Limited Employee Benefit Plan (Policy in respect to: Life Insurance Disability Income Hospital Expense Benefit Medical and Dental Care Benefits Continuation of Medical Benefits Accidental Death and Dismemberment Insurance The Company agrees to pay of the cost of the Plan covering the employee, spouse, and children and not to reduce any benefits therein during the life of this Agreement without the approval of the Union.
HCSC is empowered to act on behalf of the Employer in connection with the Health Benefits Continuation Coverage only as expressly stated in this Agreement or as mutually agreed to in writing by the parties hereto.
The Employer hereby retains and appoints HCSC to provide services as hereinafter described in connection with the Health Benefits Continuation Coverage.
During the Benefits Continuation Period, the Surviving Entity shall provide or cause to be provided an incentive compensation opportunity not less than the incentive compensation opportunity in effect at the Effective Time.
Former employees may continue medical benefits, unless they otherwise enroll for retiree medical benefits described below, and/or dental benefits after the end of the Benefits Continuation Period, provided the former employee timely elects and pays the full COBRA contribution.
More Definitions of Benefits Continuation
Benefits Continuation means the continuation of medical, dental and life benefits that are paid over the Salary Continuation Period, as described in Section III.
Benefits Continuation means the continuation of a Participant’s healthcare coverage in accordance with applicable law.
Benefits Continuation means that the Company shall reimburse a Participant for the difference between the monthly COBRA premium paid by such Participant for Participant and Participant’s dependents and the monthly premium amount for such group health plan coverage paid by similarly situated active employees of the Company.
Benefits Continuation shall have the meaning set forth in Section 8(a) hereof.
Benefits Continuation. If Employee is terminated without Cause, Company will reimburse Employee for the full amount of premiums Employee paid for participation in Company’s medical, dental, and vision plans pursuant to Section 498B(f) of the Internal Revenue Code of 1986, as amended (COBRA) until such time as Employee becomes eligible for coverage under another employer’s insurance plan or the following periods, whichever is shorter: o Prior to the one-year anniversary of this agreement, for a period of six months. o After the one-year anniversary of this Agreement, for a period of one year. The Severance is expressly conditioned upon (a) Employee’s timely execution and delivery to Company of a separation agreement in a form acceptable to Company, which will include a full waiver and release of all claims by Employee against Company, its Affiliates, and their officers, directors, employees, and agents; (b) Employee not rescinding or revoking the separation agreement; and (c) Employee being and remaining in full compliance with this Agreement (including Sections 5, 6, and 7), and all other obligations to Company. Except as provided in this Section 4.2, upon termination by Company without Employee’s consent and without Cause, Employee will not be entitled to any further compensation, payments, or severance other than the Final Pay. 4.3
Benefits Continuation means, upon Executive’s timely election of COBRA, continued coverage for Executive and his eligible dependents in the Company’s medical, dental, vision and prescription drug plans at active employee rates through the earlier of the date on which Executive becomes eligible for Medicare coverage (or, in the case of a termination pursuant to Section 5(b) only, the date on which Executive would have attained age 65) or the date on which he becomes eligible for coverage under the healthcare plans of a subsequent employer; provided, that, in the event that COBRA expires or the Company cannot continue coverage under the Company plans for any reason, then the Company shall instead pay Executive a monthly payment in an amount equal to the Company’s portion of the healthcare premiums under the Company plans and assist Executive in obtaining comparable coverage from a third party healthcare provider. For the avoidance of doubt, Executive will not receive the Benefit Continuation if his employment is terminated pursuant to Section 5(c).
Benefits Continuation means for the referenced period of time following the date of Executive's termination of employment with the Company, that the Company shall use its best efforts to provide or otherwise make available to Executive, his spouse and his dependents (as applicable), an election (with respect to health and dental coverage in lieu of the Company's coverage under the group health plan continuation coverage provisions of ERISA and the Code) to continue coverage under the Company's health and dental benefit plans then available and group term life insurance plan, if any (collectively, the "Continuation Plans") on the same terms and conditions that such plans are then provided to the Company's employees. The Company shall use its best efforts to arrange for such coverage with its insurance providers. The cost to Executive of including Executive, his spouse and his dependents in the Continuation Plans shall be no more than that paid by the Company's other employees and may be deducted from any regular payments made to Executive under this Agreement. If at any time the Company is precluded by the terms of any of the Continuation Plans from providing such coverage to Executive, his spouse, or his dependents, for reasons reasonably determined to be beyond the control of the Company, such coverage shall cease, provided, however, that Executive, his spouse and his dependents shall be entitled to continuation of coverage under the Company's medical and/or dental benefit plans pursuant to any statutory rights Executive, his spouse or his dependents may then have under the group health plan continuation coverage provisions of ERISA and the Code, or otherwise, at Company's expense, so long as Executive timely complies with all applicable statutory requirements. The prior provisions notwithstanding, the right of Executive, his spouse or dependents to coverage as provided by the group health plan continuation coverage provisions of ERISA and the Code or otherwise shall be deemed to run concurrently with the continuation of health and/or dental benefits under the first sentence of this paragraph.