Retiree Life and Medical Sample Clauses

Retiree Life and Medical. Effective as of the IPO Closing Date, employees of the members of the Resources Group shall no longer be eligible to participate in REI's retiree life insurance plan and retiree medical plan, and REI shall assume all Liabilities under REI's retiree medical plan for certain eligible employees of the members of the Resources Group who as of such date have generally attained the age of 55 with at least 5 years of service after age 50 under such Plan, provided, however, that such employees shall not accrue any additional benefits under such Plan. Except as otherwise expressly provided above, no other employee of any member of the Resources Group shall be entitled to benefits under the REI retiree medical plan. Resources shall make available a non-subsidized group insurance arrangement through which eligible retired employees of the members of the Resources Group may purchase retiree medical insurance at group rates. Notwithstanding the foregoing to the contrary, Resources shall maintain any retiree medical and retiree life insurance for certain Resources Union Employees as may be required pursuant to Section 2.07.
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Retiree Life and Medical. BFG shall provide retiree medical and life insurance coverage for Plant Employees who are eligible to retire on the Closing Date. Westlake shall provide retiree medical and life insurance coverage to other Plant Employees, which coverage for salaried Plant Employees shall be generally comparable to that provided by Westlake to its similarly-situated employees. In the event a Plant Employee receives retiree medical and/or life insurance coverage from BFG and active employee medical or life insurance coverage, as the case may be, from Westlake, Westlake agrees that its coverage shall be primary, and any coverage provided by BFG shall be secondary. If a Plant Employee who is eligible to retire on the Closing Date is eligible for retiree medical and/or life insurance coverage from BFG and Westlake, BFG agrees that BFG's coverage shall be primary, and any such primary coverage provided by Westlake shall be secondary. (f)
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Retiree Life and Medical. Effective as of the IPO Closing Date, employees of the members of the NPTest Group shall no longer be eligible to participate in STC's retiree life insurance and retiree medical plans, and STC shall assume all Liabilities under STC's retiree medical plan for those employees of the NPTest Group who as of the IPO Closing Date have attained the requisite age and service requirements under such Plan; provided, however, that such employees shall not accrue any additional benefits under any such Plans. IPO Retirees shall be treated as retirees of Schlumberger for purposes of retiree life and health insurance and shall be eligible to receive retiree medical and life insurance in accordance with STC's retiree plans (as such may be amended from time to time), even if such IPO Retiree accepts or continues employment with the NPTest Group following the IPO. Except as otherwise expressly provided above, after the IPO Closing Date, no other employee of any member of the NPTest Group shall be entitled to benefits under the STC retiree medical plan.
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Related to Retiree Life and Medical

  • Retiree Medical UTC shall, or shall cause a member of the UTC Group to, assume and retain, and no member of the Carrier Group or Otis Group shall assume or retain any Liabilities with respect to (i) the UTC subsidized retiree medical coverage with respect to each Employee and Former Employee who qualifies for coverage as of December 31, 2019, and (ii) access only retiree medical coverage with respect to Former Group Employees.

  • Health Care Benefits An amount equal to three (3) times the full annual cost of coverage for medical, dental and vision benefits under the Company’s Health Care Plan and Vision Insurance Plan provided to Executive and his covered dependents for the year in which Executive’s Covered Termination Date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Date. In no event shall the benefits provided for in Sections 2(a), (d), (e) and (f) above or any payment provided for in (c) above that is not subject to Code Section 409A be paid later than March 15th of the calendar year immediately following the calendar year in which the Executive’s Covered Termination Date occurs.

  • 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.

  • 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.

  • Retirees The Company has no obligation or commitment to provide medical, dental or life insurance benefits to or on behalf of any of its employees who may retire or any of its former employees who have retired except as may be required pursuant to the continuation of coverage provisions of Section 4980B of the Code and the applicable provisions of ERISA.

  • Retirement, Welfare and Fringe Benefits During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in effect from time to time.

  • 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.

  • Health Benefits Provided that Executive elects continued coverage under federal COBRA law, the Company shall pay the premiums of Executive's group health insurance coverage, including coverage for Executive's eligible dependents, for a maximum period of eighteen (18) months following a Covered Termination; provided, however, that the Company shall pay premiums for Executive's eligible dependents only for coverage for which those eligible dependents were enrolled immediately prior to the Covered Termination. No premium payments will be made following the effective date of Executive's coverage by a health insurance plan of a subsequent employer. For the balance of the period that Executive is entitled to coverage under federal COBRA law, Executive shall be entitled to maintain such coverage at Executive's own expense.

  • Health and Welfare Benefits Executive shall be entitled to participate, without discrimination or duplication, in any and all medical insurance, group health, disability, life, accidental death, dismemberment insurance, 401(k) or other retirement, deferred compensation, profit sharing, stock ownership and such other plans and programs which are made generally available by the Company to its other senior executives in accordance with the terms of such plans and programs and subject to the Company’s right to at any time amend or terminate any such plan or program. Executive shall be entitled to paid vacation, holidays, and any other time off in accordance with the Company’s policies in effect from time to time.

  • Standard Company Benefits Executive shall be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time.

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