Post Retirement Medical and Dental Benefits Sample Clauses

Post Retirement Medical and Dental Benefits if the Executive is age 51 or older as of the Effective Date, he will become eligible on the later of the first of the month following the Effective Date or the first of the month following his 55th birth date, to apply for medical, extended health and dental benefits on the basis of treatment equivalent to that being received by an employee of the Company who retired on the Effective Date. SCHEDULE C RELEASE IN CONSIDERATION for the payment to me of $1.00 by XXXXXXXX CHALLENGE CANADA LIMITED (the "Company") and for the entry by the Company into the Executive Severance Agreement (the "Agreement") dated as of the 30th day of June , 2000 between the Company and me (the receipt and sufficiency of which are hereby acknowledged), I, Xxxxx X. Xxxxxxxx, HEREBY RELEASE AND FOREVER DISCHARGE the Company, its related and affiliated companies and subsidiaries (collectively "Norske Xxxx"), and its officers, directors, and employees, from any and all actions, causes of action, claims and demands, which in any way relate to my employment and the termination of my employment with Norske Xxxx, including any claim arising from the provisions of the EMPLOYMENT STANDARDS ACT, HUMAN RIGHTS ACT or other applicable legislation. I FURTHER AGREE that the consideration I have received includes full payment for any claim I may have under such legislation. The terms of this release set out the entire agreement between myself and Norske Xxxx and are intended to be contractual and are not a mere recital. I declare that I fully understand the terms of this settlement, I have been advised to seek independent professional advice before executing this document and that I voluntarily accept the consideration, for the purpose of making a full and final compromise and settlement of all claims. I further understand and agree that the terms of this settlement will remain confidential and will not be disclosed by me to third parties, except to my professional advisors and to my family, and as may be required by law. Dated this ______ day of __________, 20__, at ________________, in the Province of British Columbia. WITNESSED BY: ____________________________ __________________________ Witness - Signature XXXXX X. XXXXXXXX ____________________________ Witness - Address ____________________________ Witness - Occupation
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Post Retirement Medical and Dental Benefits. (1) To be eligible to receive post-retirement health benefits, an employee must have at least ten (10) years of service with the District. Years of service is defined as cumulative years of service with the District, which may or may not be consecutive years. Employees, who retire from the District and meet the service requirement stated above, will receive a District contribution towards their post-retirement health benefits premium with the insurance company that is contracted for retiree benefits with the District at the time of the employee’s retirement, [or to an HRA Heath Reimbursement Account as indicated below] as follows: Years of Service Percent of Premium Paid by District 10 50% 11 55% 12 60% 13 65% 14 70% 15 75% 16 80% 17 85% 18 90% 19 95% 20 100% The post-retirement plan is the same as the active employees' medical plan except for a $500 deductible per person compared to a $400 deductible per person for employees. Retirees may choose the High Deductible Health Plan as a lower cost alternative to the PPO plan. For example, a person retiring at age 55 with 19 years of service would have 95% of the retiree and dependent caps paid by the District.
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Post Retirement Medical and Dental Benefits the Executive will become eligible on the later of the first of the month following the Date of Termination or the first of the month following his 55th birth date, to apply for medical, extended health and dental benefits on the basis of treatment equivalent to that being received by an employee of the Company who retired on the Date of Termination.
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Post Retirement Medical and Dental Benefits. (1) The plan is the same as the current employees' medical plan except for a $500 deductible per person compared to a $400 deductible per person for employees. It is based on the ElectREcomp medical plan with $500 deductible per person. Percent of Premium Paid Years of Service by District 10 - - 50% 11 - - 55% 12 - - 60% 13 - - 65% 14 - - 70% 15 - - 75% 16 - - 80% 17 - - 85% 18 - - 90% 19 - - 95% 20 - - 100% District will pay the same percentages listed above of the retiree and dependent medical and dental premiums beginning at the retiree's age 60 for future retired employees based on years and months of service at Truckee Xxxxxx. If a person retires earlier than age 60 the benefit will be reduced by 2% per year reduction in the benefit paid by the employer. For example, a person retiring at age 58 with 19 years of service would have 91% of the retiree and dependent premiums paid by the District.
Sample 1

Related to Post Retirement Medical and Dental Benefits

  • Medical and Dental Benefits If Executive’s employment is subject to a Termination, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical or dental plans of the Company (or an Affiliate) for active employees immediately prior to the Termination Date, then, provided Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Company shall provide Executive and those dependents with coverage equivalent to the coverage in effect immediately prior to the Termination. For a period of twelve (12) months (18 months for a Termination during a Covered Period), Executive shall be required to pay the same amount as Executive would pay if Executive continued in employment with the Company during such period and thereafter Executive shall be responsible for the full cost of such continued coverage; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Company (or an Affiliate) or violate any nondiscrimination requirements then applicable with respect to the applicable plans. The coverages under this Section 4(e) may be procured directly by the Company (or an Affiliate, if appropriate) apart from, and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical or dental plans, and provided, further, that the cost to the Company and its Affiliates shall not exceed the cost for continued COBRA coverage under the Company’s (or an Affiliate’s) plans, as set forth in the immediately preceding sentence. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer with plan benefits that are comparable to Company (or Affiliate) plan benefits, the Company’s and its Affiliates’ obligations under this Section 4(e) shall cease with respect to the eligible Executive and/or dependent. Executive and Executive’s dependents must notify the Company of any subsequent employment and provide information regarding medical and/or dental coverage available.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Pre-Retirement Death Benefits Should the Executive die while --------- ----------------------------- in the service of the Bank and prior to the occurrence of his 55th birthday, the Bank will pay $2,070 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Executive. The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Executive died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Executive, any payments remaining unpaid at the Executive's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Executive's estate.

  • 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.

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • 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.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • 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.

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