Bridge Benefits Clause Samples

The Bridge Benefits clause defines the interim benefits provided to employees during a transition period, such as between the end of one employment arrangement and the start of another, or during a company merger or acquisition. Typically, this clause outlines which benefits—such as health insurance, retirement contributions, or paid leave—will continue temporarily to ensure employees do not experience a lapse in coverage or support. Its core practical function is to protect employees from losing essential benefits during organizational changes, thereby offering stability and continuity.
Bridge Benefits. For any teacher who opts to retire prior to the time the teacher qualifies for Medicare, the School Corporation shall contribute a maximum of One Hundred Twenty-five Dollars ($125.00) monthly towards the retired teacher’s insurance premium payment for any School Corporation insurance plan that the teacher was enrolled during the twelve (12) month period before retirement until the month the teacher qualifies for Medicare. Additionally, if a teacher qualifies for Bridge Benefits as provided above and the retired teacher is covered by a spouse’s plan (ex. employee and spouse) who is an active at work employee then the retired teacher may elect to have their annual benefit contributed to their spouse’s premiums.
View SourceView Similar (3)
Bridge Benefits. Effective June 8. 2012
View Source
Bridge Benefits. Effecti v e June 8 , 2 0 0 7
View Source

Related to Bridge Benefits

  • Fringe Benefits During the Employment Period, the Executive shall be entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

  • Leave Benefits Paid leave is available to the Superintendent when the following specific conditions are met: (1) the Superintendent is currently employed by the District and (2) the paid leave day is taken on a day Superintendent would otherwise be expected to be at work.

  • Retiree Benefits Employees retiring on or after January 1, 2006 will be eligible for retiree benefits as presented to the Union Negotiation Committee during discussions for renewal of the Collective Agreements that expired December 31, 2002.

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

  • Vacation and Fringe Benefits During the Employment Period, the Executive shall be entitled to paid vacation and fringe benefits at a level that is commensurate with the paid vacation and fringe benefits available to the Executive immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available from time to time to the Executive or other similarly situated officers at any time thereafter.