Welfare Benefit Sample Clauses

The Welfare Benefit clause defines the employer's obligation to provide certain non-salary benefits to employees, such as health insurance, retirement plans, or other employee assistance programs. Typically, this clause outlines the types of benefits offered, eligibility requirements, and any conditions or limitations that may apply, such as waiting periods or coverage exclusions. Its core practical function is to ensure employees are aware of and can rely on specific welfare benefits as part of their overall compensation package, thereby promoting employee well-being and clarifying the employer's commitments.
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Welfare Benefit. (i) Except as provided in Section 2.3 hereof, Executive shall be eligible to participate in the Company's Group Health Plan for a period of six (6) months for each of Executive's Years of Service, not to exceed a period of five (5) years, beginning on the first day of the first month following Executive's Separation Date unless otherwise specifically provided under such plan, upon Executive's payment of both the Company's and Executive's premium under such plan. Executive shall also be entitled to elect coverage under the Group Health Plan for his dependents who are participating in the Group Health Plan on Executive's Separation Date (and for such other dependents as may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Executive's extended medical coverage under this Section 2.2(c) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Agreement. (ii) The extended medical coverage afforded to Executive pursuant to this Section 2.2(c) as well as the premiums to be paid by Executive in connection with such coverage shall be determined in accordance with the terms of the Group Health Plan and shall be subject to any changes in the terms and conditions of the Group Health Plan as well as any future increases in premiums under the Group Health Plan. The premiums to be paid by Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if Executive fails to pay his premium within thirty (30) days of its due date, Executive's extended coverage shall be terminated. (iii) Any Group Health Plan coverage provided under this Section 2.2(c) shall be a part of and not in addition to any COBRA Coverage which Executive or his dependent may elect. In the event that Executive or his dependent becomes eligible to be covered, by virtue of re-employment or otherwise, by any employer-sponsored group health plan or is eligible for coverage under any government-sponsored health plan during the above period, coverage under the Employing Company's Group Health Plan available to Executive or his dependent by virtue of the provisions of this Article II shall terminate, except as may otherwise be required by law, and shall not be renewed. It shall be the duty of Executive to inform the Company of his eligibility to participate in any such health plan. (iv) Except as otherwise provided in Sect...
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Welfare Benefit. FUND Any fund that is part of a plan of the Employer, or has the effect of a plan, through which the Employer provides welfare benefits to Employees or their beneficiaries. For these purposes, Welfare Benefit means any benefit other than those with respect to which Code Section 83(h) (relating to transfers of property in connection with the performance of services), Code Section 404 (relating to deductions for contributions to an Employee's trust or annuity and Compensation under a deferred payment plan), Code Section 404A (relating to certain foreign deferred compensation plans) apply. A "Fund" is any social club, voluntary employee benefit association, supplemental unemployment benefit trust or qualified group legal service organization described in Code Section 501(c)(7), (9), (17) or (20); any trust, corporation, or other organization not exempt from income tax, or to the extent provided in regulations, any account held for an Employer by any person.
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Welfare Benefit. The term “Welfare Benefit” means payments under Article V or Health Benefits under prior Plan documents (Rules and Regulations).‌
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Welfare Benefit. The Company will continue for a period of twelve (12) months after the Termination Date all welfare benefits (other than life insurance, disability and severance plan benefits) to which ▇▇. ▇▇▇▇▇ was entitled pursuant to his Employment Agreement prior to the Termination Date.
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Welfare Benefit. (i) Except as provided in Section 2.3 hereof, Mr. Holland shall be eligible to participate in the Company'▇ ▇▇▇▇▇ Health Plan for a period of six (6) months for each of Mr. Holland's Years of Service, not to exceed a period of fi▇▇ (▇) ▇▇▇▇▇, beginning on the first day of the first month following Mr. Holland's Separation Date unless otherwise specifically provi▇▇▇ ▇▇▇▇▇ such plan, upon Mr. Holland's payment of both the Company's and Mr. Holl▇▇▇'▇ ▇▇▇▇▇▇▇ under such plan. Mr. Holland shall a▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇ elect coverage under ▇▇▇ ▇▇▇▇▇ Health Plan for his dependents who are participating in the Group Health Plan on Mr. Holland's Separation Date (and for such other depende▇▇▇ ▇▇ ▇▇▇ ▇▇ entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Mr. Holland's extended medical coverage under this Secti▇▇ ▇.▇(▇) ▇▇ the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan. (ii) The extended medical coverage afforded to Mr. Holland pursuant to this Section 2.2(c) as well as the ▇▇▇▇▇▇▇▇ to be paid by Mr. Holland in connection with such coverage shall be determin▇▇ ▇▇ ▇ccordance with the terms of the Group Health Plan and shall be subject to any changes in the terms and conditions of the Group Health Plan as well as any future increases in premiums under the Group Health Plan. The premiums to be paid by Mr. Holland in connection with this extended coverage shall ▇▇ ▇▇▇ ▇▇ ▇he first day of each month; provided, however, that if Mr. Holland fails to pay his premium within thirty (30) days ▇▇ ▇▇▇ ▇▇▇ date, his extended coverage shall be terminated. (iii) Any Group Health Plan coverage provided under this Section 2.2(c) shall be a part of and not in addition to any COBRA Coverage which Mr. Holland or his dependent may elect. In the event that Mr. ▇▇▇▇▇▇▇ or his dependent becomes eligible to be covered, ▇▇ ▇▇▇▇▇▇ ▇f re-employment or otherwise, by any employer-sponsored group health plan or is eligible for coverage under any government-sponsored health plan during the above period, coverage under the Company's Group Health Plan available to Mr. Holland or his dependent by virtue of the provisions of ▇▇▇▇ ▇▇▇▇▇▇e II shall terminate, except as may otherwise be required by law, and shall not be renewed. It shall be the duty of Mr. Holland to inform the Company of his eligibility to par▇▇▇▇▇▇▇▇ ▇▇ any such health plan. (iv) Except as otherwise provide...
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Welfare Benefit. (i) Except as provided in Section 2.3 hereof, ▇▇. ▇▇▇▇▇▇▇▇▇ shall be eligible to participate in the Company’s Group Health Plan for a period of six (6) months for each of ▇▇. ▇▇▇▇▇▇▇▇▇’▇ Years of Service, not to exceed a period of five
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Related to Welfare Benefit

  • Welfare Benefits Subject to the terms and conditions of this Agreement, for a period of twelve (12) months following the date of Involuntary Termination (and an additional twelve (12) months if the Executive provides consulting services under Section 14(f) hereof), the Executive and his dependents shall be provided with life, disability, accident and group medical benefits which are substantially similar to those provided to the Executive and his dependents immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Without limiting the generality of the foregoing, the continuing benefits described in the preceding sentence shall be provided on substantially the same terms and conditions and at the same cost to the Executive as in effect immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Such benefits shall be provided in a manner that complies with Treasury Regulation Section 1.409A-1(a)(5). Notwithstanding the foregoing, if Sempra Energy determines in its sole discretion that the portion of the foregoing continuing benefits that constitute group medical benefits cannot be provided without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or that the provision of such group medical benefits under this Agreement would subject Sempra Energy or any of its Affiliates to a material tax or penalty, (i) the Executive shall be provided, in lieu thereof, with a taxable monthly payment in an amount equal to the monthly premium that the Executive would be required to pay to continue the Executive’s and his covered dependents’ group medical benefit coverages under COBRA as then in effect (which amount shall be based on the premiums for the first month of COBRA coverage) or (ii) Sempra Energy shall have the authority to amend the Agreement to the limited extent reasonably necessary to avoid such violation of law or tax or penalty and shall use all reasonable efforts to provide the Executive with a comparable benefit that does not violate applicable law or subject Sempra Energy or any of its Affiliates to such tax or penalty.

  • Welfare 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 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, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Retirement and Welfare Benefits During the Term, the Executive shall be eligible to participate in the Company’s health, life insurance, long-term disability, retirement and welfare benefit plans and programs, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Health & Welfare Benefits Executive shall be eligible to participate in all health and welfare benefits provided generally to other employees of the Company.

  • WELFARE PLAN Section 1: The Plan Section 2: Joint Welfare Board