Continuing Medical Benefits Sample Clauses

Continuing Medical Benefits. Medical insurance benefits may be continued during an approved leave of absence. Premiums for these benefits must be paid by the Registered Nurse in advance to the Employer and on a monthly basis, except as otherwise may be required by federal or state laws regarding family and/or medical leave. (See Paragraph
Sample 1Sample 2
AutoNDA by SimpleDocs
Continuing Medical Benefits. After the termination of the Executive’s employment with the Corporation (regardless of the reason for such termination), the Corporation shall continue to provide medical benefits to the Executive on the following basis: ● subject to the next clause, the medical benefits provided shall be on terms and conditions at least as favorable to Executive as the benefits provided by the Corporation to the then active chief executive officer of the Corporation from time to time; ● the benefits shall terminate upon the Executive’s death; ● any co-pays or deductibles with respect to the medical benefits shall be paid by Executive to the same extent as required of the then active chief executive officer of the Corporation from time to time; ● the Corporation may require that the Executive remit to the Corporation in cash the amount necessary to satisfy any applicable withholding obligations due with respect to such benefits; ● the obligation to provide the medical benefits under this Section 3.5 shall terminate when Executive becomes eligible for Medicare (or any successor plan) or any other medical insurance provided by any employer that may cover the Executive from time to time. The Corporation may, in its sole discretion and notwithstanding the foregoing, pay the Executive on a periodic basis an amount equal to the reasonable cost to obtain such benefits for the corresponding period in lieu of providing such benefits directly (the cost of such benefits to be determined before giving effect to any taxes that may result from the Corporation making such payment and such payment shall be subject to the tax withholding provisions of Section 3.4). For the sake of clarity, the Corporation shall have no obligation to provide long or short-term disability benefits or insurance, life insurance, or any other type of benefits (other than the medical benefits expressly contemplated above) to the Executive following the termination of the Executive’s employment with the Corporation. The Executive agrees to enroll in Medicare parts A and B as soon as he is eligible to do so.
Sample 1
Continuing Medical Benefits. After the termination of the Executive’s employment with the Corporation (regardless of the reason for such termination), the Corporation shall continue to provide medical benefits to the Executive on the following basis: • subject to the next clause, the medical benefits provided shall be the same as or similar to the benefits provided by the Corporation to the Executive on the last day that he is employed by the Corporation; • the benefits shall extend only to the Executive; the Corporation shall have no obligation to provide any benefits to any dependent of the Executive even if such a dependent is covered by the Corporation's medical program as an eligible dependent of the Executive on the last day that the Executive is employed by the Corporation; • the benefits shall terminate upon the Executive's death; • any co-pays or deductibles with respect to the medical benefits shall be paid or reimbursed by the Corporation (subject to Section 3.5); • such benefits shall be provided at no cost to the Executive (except for any taxes that may result from such benefits, which taxes shall be the sole responsibility of the Executive; provided that the Corporation may require that the Executive remit to the Corporation in cash the amount necessary to satisfy any applicable withholding obligations due with respect to such benefits); • such benefits shall be secondary to Medicare or any other insurance that may cover the Executive from time to time. The Corporation may, in its sole discretion and notwithstanding the foregoing, pay the Executive on a periodic basis an amount equal to the reasonable cost to obtain such benefits for the corresponding period in lieu of providing such benefits directly (the cost of such benefits to be determined before giving effect to any taxes that may result from the Corporation making such payment and such payment shall be subject to the tax withholding provisions of Section 3.5). For the sake of clarity, the Corporation shall have no obligation to provide long or short-term disability benefits or insurance, life insurance, or any other type of benefits (other than the medical benefits expressly contemplated above) to the Executive following the termination of the Executive’s employment with the Corporation. The Executive agrees to enroll in Medicare parts A and B as soon as he is eligible to do so.
Sample 1
Continuing Medical Benefits. At the Effective Time, HCBK will assume and provide or cause to be provided to me (but not for my spouse or other dependents) at HCBK’s expense and I will be entitled to purchase from HCBK for my spouse or other dependents continuing medical and dental insurance under the group medical and dental insurance plan that covers employees of Sound Federal Savings who continue as employees of HCBK following the Effective Time. Such coverage shall be provided for me until the earliest of my death, the last day of the month in which I attain age 70 or the last day of the first month to begin after the Effective Time in which I receive equivalent coverage from a new employer, and for my spouse or other dependents until the earliest to occur of (i) my cessation of coverage, or (ii) the earlier of the last day of the appropriate health care continuation period under COBRA or so long as permitted by the applicable insurance carrier.
Sample 1

Related to Continuing Medical Benefits

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Severance Plans Trident shall cause Fountain to establish the Fountain Severance Plans, each effective as of the Fountain Distribution Date and each in substantially the same form(s) as the Trident Severance Plans as provided by Trident in the online data room in Folders 8.2.2.3, 8.2.2.4 and 8.2.2.5 as of the date of this Agreement (provided that Trident will, prior to establishing such Fountain Severance Plans, amend Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.5 to be identical to Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.3 and such amended plan shall serve as the form for the corresponding Fountain Severance Plan) and, correspondingly, Fountain Employees and Former Fountain Employees who are currently eligible to receive or are receiving severance payments shall cease participating in the Trident Severance Plans on the Fountain Distribution Date. After the Fountain Distribution Date: (i) Fountain shall be solely responsible for (x) the payment of all Liabilities under the Trident Severance Plans (as amended pursuant to the proviso above) or Fountain Severance Plans relating to Fountain Employees and Former Fountain Employees, (y) the management and administration of the Fountain Severance Plans and (z) the payment of all employer-related costs in establishing and maintaining the Fountain Severance Plans, and (ii) Trident shall retain sole responsibility for (w) all Liabilities under the Trident Severance Plans or Fountain Severance Plans relating to Trident Employees and Former Trident Employees, (x) all Liabilities for severance or termination pay or benefits under individual agreements entered into with any Trident Employee or Former Trident Employee prior to the Fountain Distribution Date, (y) the management and administration of the Trident Severance Plans and (z) the payment of all employer-related costs in maintaining the Trident Severance Plans. In no event shall an employee or former employee receive a duplication of severance benefits. Except as provided below, Fountain shall be solely responsible for the adjudication of any claims filed by a Fountain Employee or Former Fountain Employee before, on or after the Fountain Distribution Date under a Trident Severance Plan. Notwithstanding the previous sentence, Trident shall be solely responsible for the adjudication of any claim filed by a Fountain Employee or Former Fountain Employee under a Trident Severance Plan before the Fountain Distribution Date that (A) has not been finally adjudicated by Trident on the day immediately preceding the Fountain Distribution Date; and (B) under the applicable claims procedure, Trident’s plan administrator or other authorized person or committee will have a less than sixty (60) day period after the Fountain Distribution Date to respond to such claim. Notwithstanding the previous sentence, if Trident’s response to such claim does not finally adjudicate the claim, Trident shall immediately upon sending its response to the claimant transfer administration of such claim to Fountain for final adjudication.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • General Benefits During the Term of Employment, the Executive shall be entitled to participate in such employee pension and welfare benefit plans and programs of the Company as are made available to the Company's senior-level executives or to its employees generally, as such plans or programs may be in effect from time to time, including, without limitation, health, medical, dental, long-term disability, travel accident and life insurance plans.

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Compensation and General Benefits As compensation for his services under this Agreement, the Executive shall be compensated as follows:

  • Welfare Benefits Subject to the terms and conditions of this Agreement, for a period of twelve (12) months following the date of Involuntary Termination (and an additional twelve (12) months if the Executive provides consulting services under Section 14(f) hereof), the Executive and his dependents shall be provided with life, disability, accident and group medical benefits which are substantially similar to those provided to the Executive and his dependents immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Without limiting the generality of the foregoing, the continuing benefits described in the preceding sentence shall be provided on substantially the same terms and conditions and at the same cost to the Executive as in effect immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Such benefits shall be provided in a manner that complies with Treasury Regulation Section 1.409A-1(a)(5). Notwithstanding the foregoing, if Sempra Energy determines in its sole discretion that the portion of the foregoing continuing benefits that constitute group medical benefits cannot be provided without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or that the provision of such group medical benefits under this Agreement would subject Sempra Energy or any of its Affiliates to a material tax or penalty, (i) the Executive shall be provided, in lieu thereof, with a taxable monthly payment in an amount equal to the monthly premium that the Executive would be required to pay to continue the Executive’s and his covered dependents’ group medical benefit coverages under COBRA as then in effect (which amount shall be based on the premiums for the first month of COBRA coverage) or (ii) Sempra Energy shall have the authority to amend the Agreement to the limited extent reasonably necessary to avoid such violation of law or tax or penalty and shall use all reasonable efforts to provide the Executive with a comparable benefit that does not violate applicable law or subject Sempra Energy or any of its Affiliates to such tax or penalty.

  • Payment of Continued Group Health Plan Benefits If you are eligible for and timely elect continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or any state law of similar effect (“COBRA”) following your Involuntary Termination, the Company will pay your COBRA group health insurance premiums for you and your eligible dependents directly to the insurer until the earliest of (A) the end of the period immediately following your Involuntary Termination that is equal to the Severance Period (the “COBRA Payment Period”), (B) the expiration of your eligibility for continuation coverage under COBRA, or (C) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. For purposes of this Section, references to COBRA premiums shall not include any amounts payable by you under a Section 125 health care reimbursement plan under the Code. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then regardless of whether you elect continued health coverage under COBRA, and in lieu of providing the COBRA premiums, the Company will instead pay you on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. On the first payroll date following the effectiveness of the Release, the Company will make the first payment to the insurer under this clause (and, in the case of the Special Severance Payment, such payment will be to you, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date had such payments instead commenced on the date of your Involuntary Termination, with the balance of the payments paid thereafter on the schedule described above. If you become eligible for coverage under another employer’s group health plan, you must immediately notify the Company of such event, and all payments and obligations under this subsection shall cease.

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

Time is Money Join Law Insider Premium to draft better contracts faster.