Retiree Life. Following the Closing Date, Buyer shall provide retiree life insurance benefits on the terms required by the Union Contract or the New Union Contract for the benefit of Transferred Employees who are Union Employees, and shall permit each Transferred Employee who is a Non-Union Employee to participate in Buyer’s retiree life insurance plan to the extent such Transferred Employee participated in the Retiree Life Plan prior to the Closing Date. Buyer shall maintain such comparable benefits for a minimum of twelve (12) months following the Closing Date.
Retiree Life i. As of the Destinations Distribution Date, Destinations will assume liability for retiree life insurance coverage for Destinations Individuals and ITT Former Employees and ITT will assume liability for such insurance coverage for ITT Employees and, as of the Earlier Distribution Date, ESI will assume liability for such insurance coverage for ESI Individuals, respectively, who are not otherwise covered under the 1995 Agreement. ii. As of the Destinations Distribution Date, Destinations will assume sponsorship of the VEBA sponsored by ITT prior to the Destinations Distribution Date (the "Destinations-Assumed VEBA"). iii. As soon as practicable following the Destinations Distribution Date, Destinations will transfer an allocable share of the assets held under the Destinations-Assumed VEBA attributable to retiree life benefits of ITT Employees and of ESI Individuals to newly established VEBAs of ITT, if any, and ESI, respectively, or to an insurance company that will be providing such retiree life insurance benefits. Coopers & Lybrxxx xxxl in good faith determine the allocable shares to be apportioned from the Destinations-Assumed VEBA. Any determination by Coopers & Lybrxxx xxxl be binding on the parties hereto (subject only to correction for mathematical and other clerical errors). 8.
Retiree Life. The Corporation agrees to provide the Life Insurance Policy for retired at age and who are entitled to retire with an unreduced pension as One (1) times between the ages of and 70; and, between the ages of and When an is in receipt of an unreduced pension pursuant to the provisions under the the above benefits be provided reaches the age of (65) years and as long as the is considered by to be for an pension. Should any or retired become deceased, the said employee's spouse and/or dependents have of the premium costs for benefits paid by the Corporation for a period of one (1) year from the date of death.
