Permanent Health Insurance. The Executive will be covered under the Company’s Permanent Health Insurance Scheme (the “PHI Scheme”), subject to the terms of the policy of the PHI Scheme. Further details are available from the HR department. Acceptance into the scheme and payments under it are subject to the Executive’s continued employment by the Company and the rules of the scheme.
Permanent Health Insurance. If the Executive is absent from work through illness or injury for a continuous period of more than 26 weeks, the Executive will be entitled to receive a monthly payment (each, a "PHI Payment") equal to 65% of his pre-disability pensionable salary, less the monthly single person's long term state incapacity benefit to which the Executive is entitled at such time. The Executive shall be entitled to receive PHI Payments until the earlier of the Executive's return to work, retirement or death and PHI Payments shall be increased by 5% each year during the period that they are being paid to the Executive. While the Executive is receiving PHI Payments the Executive will continue to be a member of the Scheme and the Company will continue to make contributions to the Scheme on behalf of the Executive. At any time that the Executive becomes entitled to receive PHI Payments the Company shall determine a notional salary for the Executive for pension plan purposes, which notional salary will be reviewed by the Board in January of each year.
Permanent Health Insurance. In the event of the Executive becoming incapacitated, the Permanent Health Insurance provisions of this Agreement will apply subject to the rules of the scheme which are available for inspection at the Human Resources Department. This envisages that all renumeration from the Company will cease. Any payment to the Executive will be as outlined in the scheme. The Company reserves the right to change this provision on written notice to the Executive.
Permanent Health Insurance. Without prejudice to the Company’s right to terminate the Executive’s employment at any time in accordance with Clause 2, 19 or 20, if the Executive complies with any eligibility or other conditions set by the Company and any insurer appointed by the Company from time to time (the “Insurer”), the Company shall provide the Executive with permanent health insurance. The terms upon which this insurance is provided and the level of cover will be in accordance with the Company’s policy from time to time. The Executive understands and agrees that if the Insurer fails or refuses to provide him with any benefit under the insurance arrangement provided by the Company the Executive will have no right of action against the Company in respect of such failure or refusal. 6
Permanent Health Insurance. If the Executive is unable by reason of illness or injury, to perform the material or substantial parts of his duties hereunder, following a period of absence from work in excess of 26 consecutive weeks, the Executive will be eligible to be considered for a monthly payment equivalent to 50 per cent. of monthly Basic Salary. In the event of such payment, employer pension contributions to the Scheme will continue to be made in accordance with clause 3.2. Back to Contents
Permanent Health Insurance. The Company will include the Executive in the Group’s Permanent Health Insurance Scheme, subject to acceptance by the Scheme insurers following any individual underwriting they may require from time to time. Providing the Scheme criteria are and continue to be satisfied in relation to any incapacity claim and that there are no restrictions to the Executive’s cover applied by the insurers, this will provide payments at the half salary level, plus ongoing contributions to the AMEC pension schemes, for periods of incapacity in excess of 12 months, if necessary until normal pension age. Any benefits derived by the Executive from such membership will go towards satisfying the Company’s obligation to pay sick pay under clause 6.9 above.
Permanent Health Insurance. The Executive shall be entitled to membership of the Company’s permanent health insurance scheme.
Permanent Health Insurance. The Company shall bear the cost of permanent health insurance cover for you subject to and in accordance with the rules and terms of such insurance scheme as may be in force from time to time. The Company reserves the right to withdraw this benefit at any time or to vary the terms or level of benefits provided by this cover at any time.
Permanent Health Insurance. 12.4.1 The Company will pay premiums to a prolonged disability scheme. Eligibility and cover provided is subject to any restrictions imposed by the provider of the scheme. Subject to the rules of the scheme from time to time in force, benefits are payable after a period of 26 weeks’ continuous absence from work.
Permanent Health Insurance. Subject to the terms of the Company’s insurance policy from time to time and to any conditions imposed by the Company’s insurers, you will receive permanent health insurance (PHI) cover following the completion of 1 year’s continuous service. The terms of the Company’s current insurance policy provide that, (in summary) in the event that you cannot carry on working due to illness or disability, you will receive a monthly payment equal to two-thirds of your gross salary (less any long term incapacity benefit) (subject to underwriting if required). The Company reserves the right to vary the Scheme. You agree that in the event that the Company’s insurer under the Scheme declines for any reason to pay the Company in respect of any illness or disability of yours, you have no right to receive payments from the Company in respect of such illness or disability.
