Retiree Medical and Life Benefits Sample Clauses

Retiree Medical and Life Benefits. (a) Effective as of the Effective Date, all retiree medical and life benefit liabilities with respect to the Continued Employees, employees who retired from employment with a member of a Company Group, and any other employees who retired from employment connected to the Businesses ("Prior Retirees") and their eligible dependents provided under the Subplans to the Halliburton Company Welfare Benefits Plan (Plan 526) that are listed on Schedule A attached hereto shall be assumed by the Acquiror and the Buyers (the "Assumed Retiree Benefits"). In connection with such assumption, the Acquiror and the Buyers shall assume sponsorship of the portion of Plan 526 that constitutes the Assumed Retiree Benefits and shall, (i) with respect to Subplan 501 of Plan 526, maintain the Assumed Retiree Benefits under the same terms as in effect on the Effective Date without any reduction in the amount or form of benefits provided thereunder (except to the extent required by law and except to the extent that any modifications thereto are consistent with changes in the medical plans provided by the Acquiror and Buyers for similarly situated active employees) and (ii) with respect to all other subplans listed on Schedule A, maintain the Assumed Retiree Benefits in accordance with the collective bargaining agreements governing such subplans as Halliburton Company Agreement and Plan of Recapitalization Appendix VI-3 negotiated from time to time. The Parent Group shall not be responsible for providing the Assumed Retiree Benefits (a) to any Prior Retiree or to any dependent thereof, nor (b) to any Continued Employee who retires or terminates employment subsequent to the Effective Date. The Acquiror and the Buyers hereby jointly and severally indemnify and hold the Parent, the Seller, and their ERISA Affiliates harmless from and against any and all damages, liabilities, claims or expenses incurred for post-retirement medical and life benefits made by any Continued Employee or Prior Retiree with respect to the Assumed Retiree Benefits.

Retiree Medical and Life Benefits. The Company will add two years to the Executive's age and years of benefit service for purposes of determining Executive's eligibility for and benefits under the Company's retiree medical and life insurance plan.

Retiree Medical and Life Benefits. The Corporation will arrange to make available to you retiree life and health insurance benefits determined as if under the Corporation's welfare benefit plans your actual participation credit (or continuous service) and actual age as of the Date of Termination were increased by the additional three years of service and age provided in paragraph 4(d)(v)(A) below. If eligible for such coverage, you may elect to commence participation in retiree medical benefits coverage at any time following the expiration of the Welfare Continuation Period (or immediately after the Date of Termination, if you satisfy the eligibility requirements without taking into consideration the additional three years of service and age).