Common use of Alternate Extended Coverage Clause in Contracts

Alternate Extended Coverage. Except as provided in Section 5.12(c), 5.12(d), or 5.12(e) below, upon Employee’s termination of employment for any reason other than for Cause, Employee (if living) and his eligible dependents will be entitled to elect (for a period of five (5) years following the later of the Employee’s termination date, the end of the Severance Period, or the end of the Transition Period) to continue to participate in any self-insured, group health plan sponsored by Employer for its employees on the same basis as regular, full-time employees of Employer and their eligible dependents. As a condition of eligibility to elect the alternate extended coverage of health care benefits under this Section 5.12(b), Employee and his eligible dependents must first irrevocably decline any continuation coverage provided pursuant to Section 601 et seq. of the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1161 (“COBRA”). Employee and each of his eligible dependents shall have an independent opportunity to decline COBRA coverage in favor of the alternate extended coverage under this Section 5.12(b), and the election or nonelection by Employee and/or any of his eligible dependents shall not affect the eligibility of the others to elect coverage under this Section 5.12(b).

Appears in 3 contracts

Samples: Employment Agreement, Employment Agreement (Pediatrix Medical Group Inc), Employment Agreement (Pediatrix Medical Group Inc)

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Alternate Extended Coverage. Except as provided in Section 5.12(c), 5.12(d), 5.13(d) or 5.12(e5.13(e) below, upon Employee’s termination of employment for any reason other than for Causereason, Employee (if living) and his eligible dependents will be entitled to elect (for a period of five (5) years following the later of the Employee’s termination date, the end of the Severance Period, date or the end of the Transition Period) to continue to participate in any self-insured, insured group health plan sponsored by Employer for its employees on the same basis as regular, full-time employees of Employer and their eligible dependents. As a condition of eligibility to elect the alternate extended coverage of health care benefits under this Section 5.12(b5.13(c), Employee and his eligible dependents must first irrevocably decline any continuation coverage provided pursuant to Section 601 et seq. of the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1161 (“COBRA”). Employee and each of his eligible dependents shall have an independent opportunity to decline COBRA coverage in favor of the alternate extended coverage under this Section 5.12(b5.13(c), and the election or nonelection by Employee and/or any of his eligible dependents shall not affect the eligibility of the others to elect coverage under this Section 5.12(b5.13(c).

Appears in 1 contract

Samples: Employment Agreement (Mednax, Inc.)

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Alternate Extended Coverage. Except as provided in Section 5.12(c), 5.12(d), or 5.12(e) below, upon Employee’s termination of employment for any reason other than for Cause, Employee (if living) and his eligible dependents will be entitled to elect to continue (for a period of five (5) years following the later of the Employee’s termination date, the end of the Severance Period, or the end of the Transition Period) to continue to participate in any self-insured, group health plan sponsored by Employer for its employees on the same basis as regular, full-time employees of Employer and their eligible dependents. As a condition of eligibility to elect the alternate extended coverage of health care benefits under this Section 5.12(b), Employee and his eligible dependents must first irrevocably decline any continuation coverage provided pursuant to Section 601 et seq. of the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1161 (“COBRA”). Employee and each of his eligible dependents shall have an independent opportunity to decline COBRA coverage in favor of the alternate extended coverage under this Section 5.12(b), and the election or nonelection by Employee and/or any of his eligible dependents shall not affect the eligibility of the others to elect coverage under this Section 5.12(b).

Appears in 1 contract

Samples: Employment Agreement (Pediatrix Medical Group Inc)

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