Post-Retirement Medical and Life Insurance Benefits Sample Clauses

Post-Retirement Medical and Life Insurance Benefits. Effective ---------------------------------------------------- as of the Distribution Date, Olin shall continue to sponsor the retiree medical benefit and life insurance plans of Olin. Olin agrees that it will retain all liability with respect to medical and life insurance benefits provided to Arch Former Employees who retired or otherwise terminated prior to the Distribution Date. Effective as of the Distribution Date, Arch shall adopt a medical benefit plan substantially similar to Olin's retiree benefits plan program. Such plan shall provide credit to Arch Employees and Subsequent Arch Employees for service with Olin on the same basis as credit for such service was provided under Olin's plan. Other than possible increases in employee contributions, Arch agrees that the benefits provided under its retiree medical benefits program shall not be reduced or terminated prior to the fifth anniversary of the Distribution Date. Arch hereby agrees to assume, and shall indemnify and hold Olin harmless from and against, all claims brought against any member of the Xxxx Group under Olin's retiree medical benefit plans by any Arch Employee or Subsequent Arch Employee who retires after the Distribution Date. If an Arch Employee is transferred to Olin or any of its Affiliates by the Arch Group on or prior to January 31, 2000, Olin shall be responsible for such individual's retiree medical benefits.
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Post-Retirement Medical and Life Insurance Benefits. Notwithstanding anything to the contrary contained herein, Seller shall be responsible for, and shall indemnify, hold harmless and defend Buyer from, any and all liabilities for post-retirement medical and life insurance benefits for all current and, insofar as it relates to employment with Seller prior to the Closing Date, future retirees of the Business who are entitled to retiree medical and life insurance benefits under Seller’s benefit plans as of the Closing Date; provided, however, that with respect to future retirees the Seller’s responsibility and coverage for such benefits will be secondary to Buyer’s responsibility and coverage for such benefits to the extent such benefits are provided under any benefit plans offered by Buyer and earned by the future retirees based on service with the Buyer; however, Buyer shall have no obligation to provide post-retirement medical and life insurance benefits. A true and complete list of such current and future retirees is attached hereto as Schedule 11.1(g). Nothing contained in this Section 11.1(g) of this Agreement shall be deemed to confer any benefits upon any employees who are not otherwise eligible for such benefits as of the Closing Date.
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Post-Retirement Medical and Life Insurance Benefits. Notwithstanding any other provision in this Agreement or any Ancillary Agreement, Kaiser Employees who as of the Closing Date have the requisite age plus years of service to qualify for Kaiser Retiree Coverage without having to make employee contributions ("Fully Eligible Kaiser Employees") shall, upon retirement from the Company, be entitled to Kaiser Retiree Coverage. In addition, Partially Eligible Kaiser Employees who elect Kaiser Retiree Coverage in lieu of medical and life insurance coverage under the Company's medical and welfare plans shall, upon retirement from the Company, be entitled to Kaiser Retiree Coverage.
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Post-Retirement Medical and Life Insurance Benefits. Sellers’ post-retirement medical and life insurance benefit plan shall provide post-retirement medical and life insurance benefits to Continuing Employees who qualify for such benefits under Sellers’ plan as of the North America Closing Date, according to the terms of Sellers’ plan applicable to similarly situated employees and subject to any right to amend such plan.
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Post-Retirement Medical and Life Insurance Benefits. Sellers’ post-retirement medical and life insurance benefit plan shall provide post-retirement medical and life insurance benefits to Canada Non-Unionized Continuing Employees and Canada Unionized Continuing Employees who qualify for such benefits under Sellers’ plan as of the North America Closing Date, according to the terms of Sellers’ plan applicable to similarly situated employees and subject to any right to amend such plan.
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Related to Post-Retirement Medical and Life Insurance 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.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions. B. Faculty members will be eligible to purchase the following supplemental coverage: 1. additional amounts of group term life insurance at a level of between one and three (3) times the Faculty member’s annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 2. group term life insurance for spouses and domestic partners at a level of between one (1) and three (3) times annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 3. group term life insurance for eligible dependent children at a level of $10,000.

  • 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.

  • 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.

  • 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.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • 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.

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3. 2. With regard to LACERS Tier 1, as provided by LAAC Section 4.1111, the monthly Maximum Medical Plan Premium Subsidy, which represents the Kaiser 2-party non-Medicare Part A and Part B premium, is vested for all members who made the additional contributions authorized by LAAC Section 4.1003(c). 3. Additionally, with regard to Tier 1 members who made the additional contribution authorized by LAAC Section 4.1003(c), the maximum amount of the annual increase authorized in LAAC Section 4.1111(b) is a vested benefit that shall be granted by the LACERS Board. 4. With regard to LACERS Tier 3, the Implementing Ordinance shall provide that all Tier 3 members shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits, and shall amend LAAC Division 4, Chapter 11 to provide the same vested benefits to all Tier 3 members as currently are provided to Tier 1 members who make the same four percent (4%) contribution to LACERS under the retiree health benefit program. 5. The entitlement to retiree health benefits under this provision shall be subject to the rules under LAAC Division 4, Chapter 11 in effect as of the effective date of this provision, and the rules that shall be placed into LAAC Division 4, Chapters 10 and 11, with regard to Tier 3, by the Implementing Ordinance. 6. As further provided herein, the amount of employee contributions is subject to bargaining in future MOU negotiations. 7. The vesting schedule for the Maximum Medical Plan Premium Subsidy for employees enrolled in LACERS Tier 1 and LACERS Tier 3 shall be the same. 8. Employees whose Health Service Credit, as defined in LAAC Division 4, Chapter 11, is based on periods of part-time and less than full-time employment, shall receive full, rather than prorated, Health Service Credit for periods of service. The monthly retiree medical subsidy amount to which these employees are entitled shall be prorated based on the extent to which their service credit is prorated due to their less than full time status.

  • Group Insurance Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be paid or unpaid leave of absence contact the school district Employee Benefits Department.

  • 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.

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