Common use of Welfare and Other Benefit Plans Clause in Contracts

Welfare and Other Benefit Plans. During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare, fringe, change of control protection, vacation and other similar benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies. For purposes of all such plans, the Company shall credit the Executive with full credit for all service credited under the corresponding Pathfinder benefit plans for purposes of eligibility to participate and receive benefits but not for purposes of vesting benefit accruals. With respect to the Company's welfare benefit plans, the Company shall cause any such plan to waive any pre-existing condition exclusions and actively- at-work requirements thereunder with respect to the Executive and his eligible dependents and shall ensure that any covered expenses incurred on or before the Commencement Date shall be taken into account for purposes of satisfying applicable deductible, coinsurance and maximum out-of-pocket provisions after the Commencement Date to the extent that such expenses are taken into account for the benefit of peer executives of the Company.

Appears in 2 contracts

Samples: Employment Agreement (Bankers Trust New York Corp), Employment Agreement (Bankers Trust New York Corp)

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Welfare and Other Benefit Plans. During the Employment ------------------------------- Period, to the extent that Hook plans are not continued, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare, fringe, change of control protection, vacation and other similar benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies. For purposes of all such plans, the Company shall credit the Executive with full credit for all service credited under the corresponding Pathfinder Hook benefit plans for purposes of eligibility to participate and receive benefits and vesting but not for purposes of vesting benefit accruals. With respect to the Company's welfare benefit plans, the Company shall cause any such plan to waive any pre-existing preexisting condition exclusions and actively- actively-at-work requirements thereunder with respect to the Executive and his the Executive's eligible dependents and shall ensure that any covered expenses incurred on or before the Commencement Date shall be taken into account for purposes of satisfying applicable deductible, coinsurance and maximum out-of-pocket provisions after the Commencement Date to the extent that such expenses are taken into account for the benefit of peer executives of the Company.

Appears in 1 contract

Samples: Employment Agreement (Bankamerica Corp)

Welfare and Other Benefit Plans. During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare, fringe, change of control protection, vacation and other similar benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies. For purposes of all such plans, the Company shall credit the Executive with full credit for all service credited under the corresponding Pathfinder existing benefit plans in which the Executive participates for purposes of eligibility to participate and receive benefits but not for purposes of vesting benefit accrualsaccrual. With respect to the Company's welfare benefit plans, the Company shall cause any such plan to waive any pre-existing condition exclusions and actively- actively-at-work requirements thereunder with respect to the Executive and his eligible dependents and shall ensure that any covered expenses incurred on or before the Commencement Date shall be taken into account for purposes of satisfying applicable deductible, coinsurance and maximum out-of-pocket provisions after the Commencement Date to the extent that such expenses are taken into account for the benefit of peer executives of the Company.

Appears in 1 contract

Samples: Employment Agreement (Bankers Trust Corp)

Welfare and Other Benefit Plans. During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare, fringe, change of control protection, incentive, vacation and other similar benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies. For purposes of all such plans, the Company shall credit the Executive with full credit for all service credited under the corresponding Pathfinder benefit plans accrued or deemed accrued with Fort Xxxxxx for purposes of eligibility to participate and receive benefits but benefits, vesting and benefit accruals, except that the Executive shall not receive such credit for purposes of vesting benefit accrualsaccruals in a defined benefit pension plan. With respect to the Company's welfare benefit plans, the Company shall cause any such plan to waive any pre-existing condition exclusions and actively- actively-at-work requirements thereunder with respect to the Executive and his the Executive's eligible dependents and shall ensure that any covered expenses incurred on or before the Commencement Date shall be taken into account for purposes of satisfying applicable deductible, coinsurance and maximum out-of-pocket provisions after the Commencement Date to the extent that such expenses are taken into account for the benefit of peer executives of the Company.

Appears in 1 contract

Samples: Employment Agreement (James River Corp of Virginia)

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Welfare and Other Benefit Plans. During the Employment ------------------------------- Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare, fringe, change of control protection, vacation and other similar benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies. For purposes of all such plans, the Company shall credit the Executive with full credit for all service credited under the corresponding Pathfinder benefit plans for purposes of eligibility to participate and receive benefits but not for purposes of vesting benefit accruals. With respect to the Company's welfare benefit plans, the Company shall cause any such plan to waive any pre-existing condition exclusions and actively- at-work requirements thereunder with respect to the Executive and his the Executive's eligible dependents and shall ensure that any covered expenses incurred on or before the Commencement Date shall be taken into account for purposes of satisfying applicable deductible, coinsurance and maximum out-of-of- pocket provisions after the Commencement Date to the extent that such expenses are taken into account for the benefit of peer executives of the Company.

Appears in 1 contract

Samples: Employment Agreement (Bankers Trust New York Corp)

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