Medical Insurance Payments. Payments with respect to Medical Coverage required to be made pursuant to this Section 6 may, at the discretion of the Company, be made by continuing participation of Executive in the plan as a terminee, and continuing to pay the same percentage of the premium paid prior to the date of termination, by paying the same percentage of the COBRA premium for Executive and her dependents, or by covering Executive and her dependents under substitute arrangements whereby the Company shall continue to pay no less than the amount of premiums paid on behalf of the Executives prior to the date of termination; provided, however, that any such substitute Medical Coverage shall be materially equal to those provided to Executive during the Employment Term.
Medical Insurance Payments. Payments with respect to Medical Coverage required to be made pursuant to this Section 7 may, at the discretion of the Company, be made by continuing participation of Executive in the plan as a terminee, by paying the applicable COBRA premium for Executive and his dependents, or by covering Executive and his dependents under substitute arrangements; provided, however, that any such substitute Medical Coverage shall be materially equal to those provided to Executive during the Employment Term or any Renewal Term.
Medical Insurance Payments. Subject to the terms of this Agreement, and if neither CCR nor his spouse, Xxxxx X. Xxxxxxxxx (“Spouse”), elects group health care plan continuation coverage under Citizens group health plan after the Retirement Date, then Citizens will make the following Independent Medical Insurance Premium payments to CCR (or, in the event of CCR’s death, to his Spouse):
(i) a lump sum amount of Twenty-Five Thousand Six Hundred Dollars ($25,600.00) payable on or before December 31, 2013.
(ii) a lump sum amount, payable between December 1, 2014 and December 31, 2014, equal to the sum of (a) Twenty-Five Thousand Six Hundred Dollars ($25,600.00) and (b) an amount determined by Citizens in 2014 as the increase above $25,600 of Independent Medical Insurance Premiums (as hereinafter defined) for calendar year 2015.
(iii) a lump sum amount, payable between December 1, 2015 and December 31, 2015, equal to the sum of (a) Twenty-Five Thousand Six Hundred Dollars ($25,600.00) and (b) an amount determined by Citizens in 2015 as the increase above $25,600 of Independent Medical Insurance Premiums for calendar year 2016.
(iv) a lump sum amount, payable between December 1, 2016 and December 31, 2016, equal to the sum of (a) Twenty-Five Thousand Six Hundred Dollars ($25,600.00) and (b) an amount determined by Citizens in 2016 as the increase above $25,600 of Independent Medical Insurance Premiums for calendar year 2017.
(v) a lump sum amount, payable between December 1, 2017 and December 31, 2017, equal to the sum of (a) Twenty-Five Thousand Six Hundred Dollars ($25,600.00) and (b) an amount determined by Citizens in 2017 as the increase above $25,600 of Independent Medical Insurance Premiums for calendar year 2018.
(vi) a lump sum amount, payable between December 1, 2018 and December 31, 2018, equal to the sum of (a) Twenty-Five Thousand Six Hundred Dollars ($25,600.00) and (b) an amount determined by Citizens in 2018 as the increase above $25,600 of Independent Medical Insurance Premiums for calendar year 2019. Each of the foregoing separately identified amounts in clauses (i) – (vi) above is, and shall be treated as, a separate payment. As used in this Agreement, “Independent Medical Insurance Premiums” mean the cost necessary to purchase medical insurance for CCR and Xxxxx X. Xxxxxxxxx, or the survivor of them, which has coverage, limits and terms substantially similar to the medical insurance then provided by Citizens to the executive officers of Citizens, but in no case shall suc...
Medical Insurance Payments. For all eligible employees who elect coverage, the Employer shall pay the sums set forth below to the Health and Welfare Committee of the Fund (hereafter the “Committee”) designated under the Amended By-Laws, Rules and Regulations of the Fund (the “Rules”) as most recently amended as of January, 1994, the terms and provisions of the Rules which are herein specifically incorporated by reference.
x. Xxxxx payment paid to Fund by Employer: Individual: $724.00 per month Family: $1664.00 per month The Employer agrees to make the payments set forth above to the Committee no later than the 15th day of the month following the month for which payments are made. Payments should be accompanied by a statement listing the name and social security number of each employee for whom payments are being made.
b. Employee contribution to be paid directly to Employer as a contribution to the gross rate set forth in paragraph a. above: Individual: $7.52 per week Family: $26.88 per week Employees who elect coverage under the Fund agree that Employer shall make weekly payroll deductions from the employee’s wages in the applicable amount set forth above.
Medical Insurance Payments. For the twelve (12) month period commencing as of the date hereof, the Company shall reimburse you up to $1,400 per month for the costs associated with obtaining your medical insurance.
