Provision of Health Benefits Sample Clauses

Provision of Health Benefits. With respect to U.S. Business Employees, Purchaser shall provide or cause to be provided, effective commencing on the Closing Date, coverage to all Transferred Employees and their respective spouses and dependents, under a group health plan sponsored by Purchaser or its Affiliates, which plan shall have no pre-existing condition limitations or exclusions with respect to any such employee, spouse or dependant. Purchaser shall be solely responsible for compliance with the requirements of Section 4980B of the Code and part 6 of subtitle B of Title I of ERISA (“COBRA”), including the provision of continuation coverage, with respect to all such Transferred Employees, and their spouses and dependents, for whom a qualifying event occurs on or after the Closing Date. For purposes of this Section 5.5(b), the terms “group health plan,” “continuation coverage” and “qualifying event” shall have the meanings ascribed to them in COBRA.
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Provision of Health Benefits. Purchaser shall provide or cause to be provided, effective commencing on the Closing Date, (i) coverage to all Transferred Employees and (ii) continuation coverage to all Business Employees who do not become Transferred Employees and to all former employees of the Business who are receiving continuation coverage under a group health plan of the Sellers or their Affiliates as of the Closing Date, and their respective spouses and dependents, under a group health plan sponsored by Purchaser or its Affiliate, and Purchaser shall use its best efforts to ensure that such plan shall have no pre-existing condition limitations or exclusions with respect to any such employee, spouse or dependent. Purchaser shall be solely responsible for compliance with the requirements of Section 4980B of the Code and part 6 of subtitle B of Title 1 of ERISA ("COBRA"), including, without limitation, the provision of continuation coverage, with respect to all such employees and former employees, and their spouses and dependents, for whom a qualifying event occurs prior to, on or after the Closing Date, provided that the Sellers shall remain responsible for, and Purchaser shall have no liability with respect to, excise taxes or other penalties assessed (whether prior to, on or after the Closing Date) on account of the failure of either Seller or any of their Affiliates to comply with COBRA prior to the Closing Date and provided further that Purchaser shall have no liability whatsoever with respect to claims asserted to be caused by or related to the failure of the Sellers to comply with COBRA prior to the Closing Date. For purposes of this Section 5.11(b), the terms "group health plan", "continuation coverage" and "qualifying event" shall have the meanings ascribed to them in COBRA.
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Provision of Health Benefits. Subject to Section 5.4(f)(i), with respect to Transferred Employees employed in the US, Purchaser shall provide or cause to be provided, effective commencing on the Closing Date, health benefits coverage to all such Transferred Employees.
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Provision of Health Benefits. Each Purchaser Employee who is a participant in any Business Benefit Plan that is not a Conveyed Entity Benefit Plan nor a Purchaser Assumed Benefit Plan shall cease to be an active participant in such Business Benefit Plan effective as of the Closing Date. Effective commencing on the Closing Date, Purchasers shall provide or cause to be provided group health plan coverage to Purchaser Employees and their respective spouses and dependents under either a Conveyed Entity Benefit Plan or an employee benefit plan maintained by Purchasers or their Affiliates, including all Purchaser Assumed Benefit Plans (a “Purchaser Plan”), to the extent required to not incur a penalty or Tax under the applicable provisions of ERISA or the Code as amended by the Patient Protection and Affordable Care Act, as amended. Without limiting the generality of Section 2.4(c), Purchasers shall be responsible under the Conveyed Entity Benefit Plan or Purchaser Plan, as applicable, for all amounts payable by reason of claims incurred by Purchaser Employees and their eligible spouses, dependents and beneficiaries after the Closing Date. With respect to such health plan and any other welfare benefit plans in which Purchaser Employees are eligible to participate, Purchasers shall use commercially reasonable efforts to (i) ensure that no waiting periods, exclusions or limitations with respect to any pre-existing conditions, evidence of insurability or good health or actively-at-work exclusions are applicable to the Purchaser Employees or their spouses, dependents or beneficiaries, and (ii) provide or cause to be provided that any costs or expenses incurred by the Purchaser Employees (and their respective spouses, dependents and beneficiaries) up to (and including) the Closing Date shall be specifically applied for purposes of satisfying applicable deductible, co-payment, coinsurance, maximum out-of-pocket provisions and like adjustments or limitations on coverage under any such health or welfare benefit plans. Without limiting the generality of Section 2.4(c), Purchasers shall be responsible under the Conveyed Entity Benefit Plan or Purchaser Plan, as applicable, for all amounts payable by reason of claims incurred by Purchaser Employees and their eligible spouses, dependents and beneficiaries after the Closing Date.
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Provision of Health Benefits. (a) On the Closing Date, Buyer shall (i) assume sponsorship of the Seller's medical plan that provides coverage to the Transferred Employees ("SELLER'S MEDICAL PLAN") and the liabilities thereunder, with respect to all persons entitled to benefits under the provisions of the Seller's Medical Plan and (ii) be substituted for Seller as the plan sponsor under the Seller's Medical Plan. On or as soon as practicable following the Closing Date, but in any event not later than thirty (30) days following the Closing Date, Seller shall cause all right, title, interest, authorities, obligations, duties, liabilities, and assets of Seller in, to and under the Seller's Medical Plan and the bank account related thereto (the "AMERCABLE EMPLOYEE HEALTH BENEFIT ACCOUNT") to be transferred to Buyer. On or as soon as practicable following the Closing Date, but in any event not later than thirty (30) days following the Closing Date, the parties shall execute and deliver such documents and instruments as may be required to effect the assumption and transfer of the Seller's Medical Plan and the AmerCable Employee Health Benefit Account, by and to Buyer and to ensure that all assets, contracts, and agreements associated with the Seller's Medical Plan and the AmerCable Employee Health Benefit Account, as the same exist immediately prior to the Closing Date, shall be transferred with the Seller's Medical Plan to the extent provided herein. Immediately following the assumption and transfer of the Seller's Medical Plan to Buyer, Seller shall deliver all medical and other records of the Transferred Employees created, maintained, or associated with the Seller's Medical Plan to Buyer.
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Provision of Health Benefits. Purchaser shall provide or cause to be provided, effective commencing on the Closing Date, (i) coverage to all Transferred Business Employees and their respective spouses and dependents, under a group health plan sponsored by the Purchaser or its Affiliates, which plan shall have no pre-existing condition limitations or exclusions with respect to any such employee, spouse or dependant. Purchaser shall be solely responsible for compliance with the requirements of Section 4980B of the Code and part 6 of subtitle B of Title I of ERISA (“COBRA”), including the provision of continuation coverage, with respect to all such Transferred Business Employees, and their spouses and dependents, for whom a qualifying event occurs on or after the Closing Date. For purposes of this Section 5.1(b), the terms “group health plan,” “continuation coverage” and “qualifying event” shall have the meanings ascribed to them in COBRA.
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Provision of Health Benefits. With respect to Non-EU Business Employees, Purchaser shall provide or cause to be provided, effective commencing on the Closing Date; (i) coverage to all such Business Employees (whether or not any such employee accepts the Purchaser’s offer of employment and/or becomes a Transferred Employee) and (ii) continuation coverage to all former employees of the Business who were formerly employed in the United States and who are receiving continuation coverage under a group health plan of TyCom or its Affiliates as of the Closing Date, and their respective spouses and dependents, under a group health plan sponsored by Purchaser or its Affiliate, which plan shall have no pre-existing condition limitations or exclusions with respect to any such employee, spouse or dependent. Purchaser shall be solely responsible for compliance with the requirements of Section 4980B of the Code and part 6 of subtitle B of Title I of ERISA (“COBRA”), including the provision of continuation coverage, with respect to all such employees and former employees, and their spouses and dependents, for whom a qualifying event occurs prior to, on or after the Closing Date. For purposes of this Section 5.4(b), the terms “group health plan,” “continuation coverage” and “qualifying event” shall have the meanings ascribed to them in COBRA.
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Provision of Health Benefits. 18.1.1 ECRA will continue providing full employer-paid health and welfare benefits for current plans for 2018-2019 to eligible employees (as provided in Section 18.2, below), their spouses or qualified domestic partners, and their qualified dependents. Beginning July 1, 2019, ECRA’s employer contributions to PPO medical insurance benefits will be limited to (“capped” at) the current monthly premium rates for the Anthem Low PPO as follows: • Employee only: $847.88; • Employee + Spouse: $1,865.35; • Employee + child(ren): $1,526.20; and • Family: $2,628.44 Employees will pay the difference in premium costs for any PPO plan premiums in excess of these amounts. If 2018-2019 revenues remain the same or increase as compared to 2017-2018 revenues, then ECRA will absorb up to a two percent (2%) increase in premium cost of the Anthem Low PPO, and an employee choosing PPO coverage will pay any increase in premium cost above the two percent (2%) increase. UTLA shall have the right to reopen negotiations for this subject by providing written notice to ECRA on or before Monday, April 1, 2019.
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Related to Provision of Health Benefits

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 18 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 18 months after the date of Executive’s separation from service.

  • Health Care Benefits (a) Each regular full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans:

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Association shall pay Executive as compensation a salary of not less than $_____________ per year ("Base Salary"). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually. Such review may be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (except a decrease that is generally applicable to all employees), Executive's Base Salary (any increase in Base Salary shall become the "Base Salary" for purposes of this Agreement). In addition to the Base Salary provided in this Section 3(a), the Association shall provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Association. Base Salary shall include any amounts of compensation deferred by Executive under qualified and nonqualified plans maintained by the Association.

  • Compensation and Fringe Benefits (a) The Company shall, during the Term of Employment, pay to the Executive as compensation for the performance of his duties and obligations a salary of $240,000 per annum. This compensation is subject to annual review and adjustment, as appropriate in the judgment of the Company. The compensation payable pursuant to this Section 5(a) shall be payable in equal semi-monthly installments on the last day of each such pay period.

  • Medical, Dental and Vision Benefits If Executive’s employment with the Bank 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, dental or vision plans maintained for active employees of the Bank or any Affiliate, the Bank shall provide Executive and those dependents with coverage equivalent to the coverage received while Executive was employed with the Bank for as long as Executive is eligible for and elects coverage under the health care continuation rules of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Executive will be required to pay the same amount as Executive would pay if Executive continued in active employment with the Bank during such period. 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 Bank or any Affiliate. The coverage under this Section 4(e) may be procured directly by the Bank (or any 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, dental or vision plans, and provided, further, that the cost to the Bank shall not exceed the cost for continued COBRA coverage. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical, dental or vision plan of a subsequent employer with plan benefits that are comparable to Bank (or any Affiliate) plan benefits, the Bank’s obligations under this Section 4(e) shall cease with respect to the eligible Executive and dependents. Executive and Executive’s dependents must notify the Bank (or any Affiliate) of any subsequent employment and eligibility for such comparable coverage.

  • Certain Benefits Executive will be eligible to participate in all employee benefit programs established by Employer that are applicable to management personnel such as medical, pension, disability and life insurance plans on a basis commensurate with Executive’s position and in accordance with Employer’s policies from time to time, but nothing herein shall require the adoption or maintenance of any such plan.

  • Standard Benefits During the Employment Period, Executive shall be entitled to participate in all employee benefit plans and programs, including paid vacations, generally available to other similarly situated Company executives, subject to the terms and conditions of the applicable plans.

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