Common use of Subrogation Agreement Clause in Contracts

Subrogation Agreement. Benefit payment will not be made beyond age 65 and in all cases, will cease upon recovery. Where the employee recovers an amount from a liable third party for loss of income as a result of the same accident or illness, they must reimburse the Plan once they receive 100% of their loss. One hundred percent (100%) of their loss includes gross wages lost The premium structure for coverage of an employee over the age of 64 will be as follows: First three months 75% of Normal Premium Second three months 50% of Normal Premium Third three months 25% of Normal Premium Last three months No Premium The Weekly Indemnity/Long Term Disability Plan will assume all costs for completion of forms required by the carrier. The Company will reimburse employees for the costs of medical forms and specialist reports when required by the WI and LTD carriers. This is agreed on the basis that the Company will be reimbursed by the insurance carrier.

Subrogation Agreement. Benefit payment will not be made beyond age 65 and in all cases, will cease upon recovery. Where the employee recovers an amount from a liable third party for loss of income as a result of the same accident or illness, they must reimburse the Plan once they receive 100% of their loss. One hundred percent (100%) of their loss includes gross wages lost The premium structure for coverage of an employee over the age of 64 will be as follows: First three months 75% of Normal Premium Second three months 50% of Normal Premium Third three months 25% of Normal Premium Last three months No Premium The Weekly Indemnity/Long Term Disability Plan will assume all costs for completion of forms required by the carrier. The Company will reimburse employees for the costs of medical forms and specialist reports when required by the WI and LTD carriers. This is agreed on the basis that the Company will be reimbursed by the insurance carrier. (c) Weekly Indemnity benefit Effective Date Benefit Maximum