Common use of Prepaid Premiums Clause in Contracts

Prepaid Premiums. To assist employees who are temporarily laid off to maintain their coverage under both plans the Company shall make the following contributions: 14.07.1 If an employee is laid off within five (5) months of the date of enrollment, the employee shall pay in advance the full monthly premium of both plans to maintain coverage. 14.07.2 If an employee is laid off after five (5) months from the date of enrollment, in the plans, the Company will pay 80% of the next three monthly premiums of both plans and 50% of the monthly premiums for the fourth to sixth month of layoff. Thereafter, the full premiums must be paid in advance by the employee to maintain his or her coverage.

Prepaid Premiums. To assist employees who are temporarily laid off to maintain their coverage under both plans plans, the Company shall make the following contributions: 14.07.1 10.07.1 If an employee is laid off within five (5) months of the date of enrollmentenrolment, the employee shall pay in advance the full monthly premium of both plans to maintain coverage. 14.07.2 10.07.2 If an employee is laid off after five (5) months from the date of enrollment, enrolment in the plans, the Company will pay eighty percent (80% %) of the next three monthly premiums of both plans and fifty percent (50% %) of the monthly premiums premium for the fourth to sixth month of layoff. Thereafter, the full premiums must be paid in advance by the employee to maintain his or her coverage.