Other Benefit Continuation Sample Clauses

Other Benefit Continuation. The Corporation shall provide for the continued participation of the Executive, her spouse and their eligible dependents (as defined in the applicable plan), as the case may be, for a period equal to the greater of two years after the Date of Termination or until the third anniversary of the Change of Control Date, in the plans described in Section 4(d) on the same terms as described in Section 4(d). In lieu of continued participation in medical and life insurance programs referred to the foregoing, the Executive may elect by written notice delivered to the Corporation prior to the Date of Termination, to receive an amount equal to three (3) times the annual cost to the Corporation (based on premium rates) of providing such coverage.
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Other Benefit Continuation. The Corporation shall provide for the continued participation of the Executive, his spouse and their eligible dependents (as defined in the applicable plan), as the case may be, for the remainder of the Term, in all medical, dental, disability, group life, severance, accidental death and travel accident insurance plans and programs of the Corporation and any Affiliated Companies on the same terms as described in Section 3(d). In the event that the Corporation is unable to provide such continued coverage due to restrictions imposed by third party insurers, the Corporation shall pay to the Executive an amount equal to one (1) times the annual cost to the Corporation (based on premium rates) of such coverage for which the Corporation is unable to provide. In lieu of continued participation in any of the programs referred to in this Subparagraph (ii), the Executive may elect by written notice delivered to the Corporation prior to the Date of Termination, to receive an amount equal to one (1) times the annual cost to the Corporation (based on premium rates) of providing such coverage. The Executive and his spouse shall, for the remainder of their lives, be entitled to receive at the Corporation's expense, medical insurance benefits consistent with the medical insurance benefits offered by the Corporation to its similarly situated active employees.
Sample 1
Other Benefit Continuation. The Corporation shall provide for the continued participation of the Execu- tive, and his spouse, as the case may be, until the Agreement Expiration Date, in the plans described in Section 4(d) on the same terms as described in Section 4(d). In lieu of continued participation in medical and life insurance programs referred to the foregoing, the Executive may elect by written notice delivered to the Corporation prior to the Date of Termination, to receive an amount equal to the annual cost to the Corporation (based on premium rates) of providing such coverage.
Sample 1
Other Benefit Continuation. The Executive also shall receive the following benefits: (i) The Executive shall receive a cash payment equal to the amount of premium that would apply if Executive were to elect to exercise the conversion feature of the Corporation’s group life insurance policy and maintain such policy for the 12-month period following the Executive’s termination. Such payment shall be made no later than March 15, 2014. (ii) The Corporation will make a cash payment to Executive equal to the matching contribution that would have been contributed to Executive’s account in the Corporation’s 401(k) plan if he had continued participation in such plan for the 12-month period following the Termination Date. Such payment shall be calculated assuming that the Executive would have contributed the maximum amount permitted under such plan for 2014, and shall be paid no later than March 15, 2014. (iii) The Executive shall receive a cash payment equal to the Corporation’s cost of coverage for long-term disability insurance coverage equivalent to the coverage that he would receive as an employee of the Corporation for the 12-month period following the Executive’s termination. Such payment shall be made no later than March 15, 2014. In order for Executive to be eligible to receive the payments under paragraphs (a), (b) and (d) above, Executive must (i) sign this Agreement and deliver it to the Corporation no later than October 14, 2013, and not revoke it; and (ii) sign the Second Release and deliver it to the Corporation upon his termination of employment on December 30, 2013, but in no event later than close of business on January 3, 2014, and the Second Release becomes effective in accordance with its terms. Such release provisions shall also be deemed to fully satisfy the release provisions set forth in Appendix A. Should the Executive breach any of his obligations under the Employment Agreement, this Agreement, or the Corporation’s Confidentiality Agreement, or makes a false representation in this Agreement, the Executive’s right to severance payments shall immediately cease and Executive shall be required to repay all amounts paid by the Corporation pursuant to Section 2(a) and Section 2(d), except for the amount of $1,000, which the Executive shall be entitled to retain. If the Corporation is forced to initiate litigation to recover those monies, Executive shall pay the Corporation its attorneys’ fees and costs incurred in enforcing this Agreement. Regardless of whether he returns ...
Sample 1
Other Benefit Continuation. Sanmina shall provide for the continued participation of the Executive, his spouse and their eligible dependents (as defined in the applicable plan), as the case may be, for two years following the Date of Termination, in all medical, dental, disability, group life, severance, accidental death and travel accident insurance plans and programs of Sanmina and any Affiliated Companies on the same terms as described in Section 3(f). In the event that Sanmina is unable to provide such continued coverage due to restrictions imposed by third party insurers, Sanmina shall pay to the Executive an amount equal to two (2) times the annual cost to Sanmina (based on premium rates) of such coverage for which Sanmina is unable to provide.
Sample 1
Other Benefit Continuation. The Executive, the Executive’s spouse, and their eligible dependents will be entitled to the following payments and continuation of benefits: (1) during the “Section 6(e) Continuation Period” (defined below), the Executive, the Executive’s spouse and their eligible dependents (as defined in, and to the extent permitted by, the applicable plan) shall continue to be eligible to participate in the Corporation’s medical and dental plans, provided that they participated in such plans immediately prior to the Date of Termination and provided that the Executive pays to the Corporation, in equal, monthly installments over the course of the Section 6(e) Continuation Period, the full cost for such continued participation, and upon the expiration of such continued coverage, the Executive shall be entitled to elect to continue such coverage under COBRA or similar state law, as applicable, in accordance with the Corporation’s policy from time to time; and on the Payment Date, the Corporation will pay to the Executive a cash bonus equal to (I) the Corporation’s portion of the monthly cost (i.e., excluding the portion of the monthly cost paid generally by active employees) of the medical and dental coverage being provided by the Corporation to the Executive, the Executive’s spouse and their eligible dependents immediately prior to the Date of Termination, multiplied by (II) thirty-six (36); (2) during the Section 6(e) Continuation Period, the Executive, the Executive’s spouse and their eligible dependents (as defined in, and to the extent permitted by, the applicable plan) shall continue to participate in the Corporation’s group life and accidental death insurance plans; and (3) on the Payment Date, the Corporation will pay to the Executive a cash bonus equal to (I) the Corporation’s monthly cost of the disability coverage and travel accident insurance being provided by the Corporation to the Executive, the Executive’s spouse and their eligible dependents immediately prior to the Date of Termination, multiplied by (II) thirty-six (36); provided that (i) any such benefit provided by the Corporation in any year will not be affected by the amount of any such benefit provided by the Corporation in any other year, subject to any maximum benefit limitations under the terms of the applicable health plan, and (ii) under no circumstances will the Executive be permitted to liquidate or exchange any such benefit for cash or any other benefit. Further, to the extent any of the above...
Sample 1

Related to Other Benefit Continuation

  • Benefit Continuation (a) For leaves taken pursuant to Clause 21.1, 21.2 and 21.3 the Employer shall maintain coverage for medical, extended health, dental, group life and long-term disability, and shall pay the Employer’s share of these premiums. (b) Notwithstanding Clause 21.4(a) above, should an employee be deemed to have resigned in accordance with Clause 21.5 the Employer will recover monies paid pursuant to this clause.

  • Other Benefits During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect from time to time, subject to the terms of such plans.

  • Other Benefit Plans It is understood that the Employer retains any existing rights which he may have, in his exclusive discretion, to alter, amend, cancel, or terminate any existing employee benefit plan or plans or part thereof that are not provided for in this Agreement.

  • Continuation of Employee Benefits (a) On and after the Effective Time, directors, officers and employees of the Company and its Subsidiaries shall be provided employee benefits, plans and programs (including but not limited to incentive compensation, deferred compensation, pension, life insurance, medical (which eligibility shall not be subject to any exclusions for any pre-existing conditions if such individual has met the participation requirements of such benefits, plans or programs of the Company or its Subsidiaries), profit sharing (including 401(k)), severance salary continuation and fringe benefits) which are no less favorable in the aggregate than those generally available to similarly situated directors, officers and employees of Parent and its significant Subsidiaries. For purposes of eligibility to participate and vesting in all benefits provided to directors, officers and employees, the directors, officers and employees of the Company and its Subsidiaries will be credited with their years of service with the Company and its Subsidiaries and prior employers to the extent service with the Company and its Subsidiaries and prior employers is taken into account under plans of the Company and its Subsidiaries. Upon termination of any medical plan of the Company or any of its Subsidiaries, individuals who were directors, officers or employees of the Company or its Subsidiaries at the Effective Time shall become eligible to participate in the medical plan of Parent. Amounts paid before the Effective Time by directors, officers and employees of the Company and its Subsidiaries under any medical plans of the Company shall after the Effective Time be taken into account in applying deductible and out-of-pocket limits applicable under the medical plan of Parent provided as of the Effective Time to the same extent as if such amounts had been paid under such medical plan of Parent. (b) This Section 6.14, which shall survive the Effective Time and shall continue without limit, is intended to benefit and bind the Company and the Surviving Corporation, each of whom may enforce the provisions of this Section 6.14. Nothing contained in this Section 6.14 shall create any third party beneficiary rights in any director, officer or employee or former director, officer or employee (including any beneficiary or dependent thereof) of the Company, any of its Subsidiaries or the Surviving Corporation in respect of continued employment for any specified period of any nature or kind whatsoever, and nothing contained in this Section 6.14 shall create such third party rights in any such person in respect of any benefits that may be provided, directly or indirectly, under any employee benefit plan or arrangement.

  • Other Benefits and Perquisites The Executive shall be entitled to participate in the benefit plans provided by the Company for all employees, generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans in its sole discretion at any time.

  • Salary Continuation If the Executive becomes totally disabled during the term of this Agreement, his full salary shall be continued for 360 days from the date of the disabling injury or onset of the disability illness.

  • Benefits Continuation In addition, Executive shall be entitled to health and dental insurance benefits for a period of eighteen (18) months following the termination of this Agreement. These benefits will be provided at Employer’s expense, but such period shall count towards the Employer’s continuation of coverage obligation under Section 4980B of the Internal Revenue Code (commonly referred to as “COBRA”).

  • Relation to Other Benefits Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company or any of its Subsidiaries and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or any of its Subsidiaries.

  • Continuation of Health Benefits An employee on an approved Military Caregiver Leave shall be entitled to continue participation in health plan coverage (medical, dental, and optical) as if on pay status during the leave.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

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