Benefit Plans Coverage Sample Clauses

Benefit Plans Coverage. The employee will continue to be covered by the Supplementary Health, Dental and Life Insurance until he/she reaches 65 years of age. Benefits of the aforesaid plans are subject to the provisions of the collective agreement in effect at the time of retirement and as amended in subsequent negotiations except that the coverage in accordance with the life insurance plan will be equal to the full basic coverage which will be reduced only when the employee reaches 65 years of age. The Company will pay the total cost of these plans.
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Benefit Plans Coverage. The employee will continue to be covered by the Supplementary Health, Dental and Life Insurance until he/she reaches 65 years of age. Benefits of the aforesaid plans are subject to the provisions of the collective agreement in effect at the time of retirement and as amended in subsequent negotiations except that the coverage in accordance with the life insurance plan will be equal to the full basic coverage which will be reduced only when the employee reaches 65 years of age. If an employee dies while insured for dependents' health insurance coverage, his/her dependents will continue to be insured for up to a maximum of twelve (12) months. Coverage will cease on the remarriage of the dependent's spouse. The Company will pay the total cost of these plans.
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Benefit Plans Coverage. 38 10.3 Past Service Credit.....................................39 10.4
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Benefit Plans Coverage. Subject to the provisions of this Article X, ----------------------- CompuCom shall offer coverage under CompuCom's benefit plans and arrange- ments to Continued Employees in accordance with the terms and conditions of such plans and arrangements and at a level which is substantially similar to the coverage and benefit opportunities offered under such plans to comparable CompuCom employees.
Sample 1
Benefit Plans Coverage. The employee will continue to be covered by the Supplementary Health, Dental and Life Insurance until reaches years of age. Benefits of the aforesaid plans are subject to the provisions of the collective agreement in effect at the time of retirement and as amended in subsequent negotiations except that the coverage in accordance with the life insurance plan will be equal to the full basic coverage which will be reduced only when the employee reaches years of age. The Company will pay the total cost of these plans. Miscellaneous Benefits in accordance with this plan are in addition to the benefits provided for the Canada Pension Plan and are not limited or reduced by the aforesaid benefits or the payment of benefits in accordance with the unemployment insurance plan of Canada. However, an employee eligible for this plan will not be eligible for any benefits in accordance with the Weekly Indemnity Plan and the Long Term Disability Plan. The cost of all the improved early retirement benefits will be incurred by the Company. If the employee satisfies all the eligibility requirements stated in paragraph above, may make a written request to the Company in order to receive the benefits of the present plan. Such a request by the employee will entail a voluntary leave. An eligible employee will retire the first of the month following the date the request has been accepted. This present plan is only applicable to employees who meet the requirements during the life of this agreement.
Sample 1
Benefit Plans Coverage. (a) Effective as of the Closing Date and through December 31, 2000 (the "Benefit Period"), Buyer shall or shall cause Company Subsidiary to maintain base salaries, short-term incentive programs (annual bonuses) and employee benefit plans and arrangements ("Basic Benefits") for Continued Employees which, in the aggregate, are reasonably comparable to the Basic Benefits provided to the Continued Employees immediately prior to the Closing Date by Seller or any Person under common control with Seller; provided, however, (i) in determining whether this comparability standard is met during the Benefit Period, Buyer and Seller agree that the benefits to be provided to Continued Employees by Seller or any Person under common control with Seller and which are described in paragraphs one through four of Schedule 8.02 are deemed to be Basic Benefits provided by Buyer to the Continued Employees during the Benefit Period, (ii) Buyer's covenant hereunder is directly contingent upon Seller's covenants in paragraphs one through four of Schedule 8.02, (iii) nothing contained herein shall prohibit Buyer or Company Subsidiary from amending, modifying or terminating any of the Basic Benefits (other than those referred to in paragraphs one through four of Schedule 8.02) during or after the Benefit Period, and (iv) notwithstanding anything contained in this Agreement to the contrary, neither Buyer nor any Person under common control with Buyer shall have any obligation during the Benefit Period to maintain, sponsor or contribute to any (x) retiree medical, dental or life insurance plans, programs or policies or (y) any "employee benefit pension plan" (as defined in Section 3(2) of ERISA) that is subject to Title IV of ERISA. (b) Effective during the Benefit Period, Buyer shall or shall cause Company Subsidiary to provide long-term incentive programs to the Continued Employees on terms and conditions no less favorable than those provided to Buyer's similarly situated employees. (c) During the period commencing with the signing of this Agreement and ending with the Closing, Seller shall not, and shall not cause, (i) individuals employed by the Company or the Company Subsidiary to be transferred to the employ of Seller or any Affiliate of Seller (other than the Company or the Company Subsidiary) and (ii) individuals employed by Seller or any Affiliate of Seller (other than the Company and the Company Subsidiary) to be transferred to the employ of the Company or the Company Subsidi...
Sample 1
Benefit Plans Coverage. 58 SECTION 8.03. Past Service Credit........................................59 SECTION 8.04. Accrued Vacation, Personal and Sick Days...................59 SECTION 8.05. Seller's Pension Plan......................................60 SECTION 8.06. 401(k) Plan................................................60 SECTION 8.07. Medical and Dental.........................................60 SECTION 8.08. Long-Term Disability.......................................61 SECTION 8.09. WARN Act...................................................61 SECTION 8.10. Life Insurance.............................................61 SECTION 8.11. Employment Claims; Workers Compensation....................62 SECTION 8.12.
Sample 1
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Related to Benefit Plans Coverage

  • Benefit Plans (a) Section 5.13(a) of the Hanover Disclosure Letter lists each material “employee benefit plan” (as defined in Section 3(3) of ERISA), and all other material employee benefit, bonus, incentive, deferred compensation, stock option (or other equity-based), severance, change in control, welfare (including post-retirement medical and life insurance) and fringe benefit plans, programs and arrangements, whether or not subject to ERISA and, whether written or oral (i) sponsored, maintained or contributed to or required to be contributed to by Hanover or any of its Subsidiaries or to which Hanover or any of its Subsidiaries is a party and (ii) in which any individual who is currently or has been an officer, director or employee of Hanover (a “Hanover Employee”) is a participant (the “Hanover Benefit Plans”). Neither Hanover, any of its Subsidiaries nor any ERISA Affiliate thereof has any commitment or formal plan, whether legally binding or not, to create any additional employee benefit plan or modify or change any existing Hanover Benefit Plan that would affect any Hanover Employee except in the ordinary course of business. Hanover has heretofore delivered or made available to Xxxxxx and Spinco true and complete copies of each Hanover Benefit Plan and any amendments thereto (or if the plan is not a written plan, a description thereof), any related trust or other funding vehicle, the most recent annual reports or summaries required to be prepared or filed under ERISA or the Code and the most recent determination letter received from the IRS with respect to each such plan intended to qualify under Section 401 of the Code and the three most recent years (A) the Form 5500s and attached Schedules, (B) audited financial statements and (C) actuarial valuation reports. (b) Except as would not, individually or in the aggregate, reasonably be expected to result in a material liability to Hanover, (i) neither Hanover nor any of its ERISA Affiliates has incurred any liability under Title IV or Section 302 of ERISA or under Section 412 of the Code that has not been satisfied in full, and (ii) no condition exists that would reasonably be expected to result in Hanover incurring any such liability. (i) No Hanover Benefit Plan is a “multiemployer pension plan,” as defined in Section 3(37) of ERISA and (ii) none of Hanover, or any ERISA Affiliate thereof has made or suffered a “complete withdrawal” or a “partial withdrawal,” as such terms are respectively defined in Sections 4203 and 4205 of ERISA, the liability for which would reasonably be expected to result in a material liability to Hanover. (d) Except as would not, individually or in the aggregate, reasonably be expected to result in a material liability to Hanover, each Hanover Benefit Plan has been operated and administered in all respects in accordance with its terms and applicable law, including, but not limited to, ERISA, the Code and the laws of any applicable foreign jurisdiction. Except as would not result in a material liability to Hanover, all contributions required to be made with respect to any Hanover Benefit Plan have been timely made. There are no pending or, to Hanover’s Knowledge, threatened claims by, on behalf of or against any of the Hanover Benefit Plans or any assets thereof, other than routine claims for benefits under such plans, that, if adversely determined could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on Hanover or any of its Subsidiaries and no matter is pending (other than routine qualification determination filings, copies of which have been furnished to Xxxxxx and Spinco or will be promptly furnished to Xxxxxx and Spinco when made) with respect to any of the Hanover Benefit Plans before the IRS, the United States Department of Labor or the PBGC that would, individually or in the aggregate, reasonably be expected to result in a material liability to Hanover. (e) Each Hanover Benefit Plan intended to be “qualified” within the meaning of Section 401(a) of the Code has received a determination letter from the IRS stating that they and the trusts maintained thereunder are exempt from taxation under Section 401(a) of the Code, respectively, and each trust maintained under any Hanover Benefit Plan intended to satisfy the requirements of Section 501(c)(9) of the Code has satisfied such requirements and, in any such case, no event has occurred or condition is known to exist that would reasonably be expected to adversely affect such tax-qualified status for any such Hanover Benefit Plan or any such trust. (f) No Hanover Benefit Plan is maintained outside the jurisdiction of the United States, or covers any employee residing or working outside the United States. (g) Except as otherwise provided in or contemplated by this Agreement or any Executed Transaction Agreement, the consummation of the transactions contemplated by this Agreement shall not result by itself or with the passage of time in the payment or acceleration of any amount, the accrual or acceleration of any benefit or any increase in any vested interest or entitlement to any benefit or payment by any employee, officer or director under domestic or foreign law that would, individually or in the aggregate, reasonably be expected to result in a material liability to Hanover.

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