Welfare Benefit Coverage Sample Clauses

Welfare Benefit Coverage. Continued Welfare Benefit Coverage for Executive and his/her eligible dependents at the active employee rate for a period of (1) 3 years following the date of Executive's Covered Termination which occurs following a Change of Control or (2) 18 months following any other Covered Termination. Such entitlement shall apply only to those Welfare Benefit Coverages that the Company has in effect from time to time for active employees. If Executive's employment is terminated following a Change of Control and Executive would have become entitled to benefits under the Company's post-retirement health care or life insurance plans, as in effect immediately prior to the termination or of his employment (or, if more favorable to Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason), had the Executive's employment terminated at any time during the period of three years following the date upon which Executive's employment was terminated, the Company shall provide such post-retirement health care or life insurance benefits to Executive and Executive's dependents commencing on the later of (i) the date on which such coverage would have first become available and (ii) the date on which benefits described in the first sentence of this paragraph 2(c) terminate. Benefits otherwise receivable by Executive pursuant to this Section
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Welfare Benefit Coverage. Subject to Executive’s payment of applicable premiums on the same basis as similarly situated active executives of the Company, continued Welfare Benefit Coverage for Executive and his eligible dependents for a period of two years following (i) the date of Executive’s Covered Termination or (ii) in the case of a Pre-Change in Control Covered Termination, the date of the Change in Control.
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Welfare Benefit Coverage. The Employer will provide, or will cause to be provided, continued Welfare Benefit Coverage for Executive and his/her eligible dependents at the active employee rate for a period of (1) 3 years following the date of Executive's Covered Termination which occurs following a Change of Control or (2) 18 months following any other Covered Termination. Such entitlement shall apply only to those Welfare Benefit Coverages that the Company or the Employer has in effect from time to time for active employees. If Executive's employment is terminated following a Change of Control and Executive would have become entitled to benefits under the Company's or the Employer's post-retirement health care or life insurance plans, as in effect immediately prior to the termination or of his employment (or, if more favorable to Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason), had Executive's employment terminated at any time during the period of three years following the date upon which Executive's employment was terminated, the Company or the Employer, as applicable, shall provide such post-retirement health care or life insurance benefits to Executive and Executive's dependents commencing on the later of (i) the date on which such coverage would have first become available and (ii) the date on which benefits described in the first sentence of this paragraph 2(c) terminate. Benefits otherwise receivable by Executive pursuant to this Section 2(c) shall be reduced to the extent Executive becomes eligible to receive benefits pursuant to a government-sponsored health insurance or health care program.
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Welfare Benefit Coverage. Executive (and, if applicable, Executive's eligible dependents) may elect to continue coverage under the Company's group medical/dental plan at Executive's own expense in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA") and, for purposes of determining the maximum period of COBRA coverage, such maximum period will begin immediately upon Executive's Involuntary Termination. [The Company may wish to consider continuation of coverage at the Company's expense for a designated time period]
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Welfare Benefit Coverage. If Employee signs this Agreement, and timely elects to receive COBRA benefits, then per the terms of the Employment Letter Employer agrees that Employee, and/or Employee’s family as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefits plans, practices, policies, and programs provided by Employer (including medical and life plans and programs) as Employee participated in as of the Separation Date up to and including September 7, 2016. Employer agrees to continue to pay the Employer share for existing coverage under the medical, dental, and vision plan, and likewise Employee agrees to pay the Employee share, if any, for this coverage and will make payments on a monthly basis. In the event Employee obtains other welfare benefit coverage between the Separation Date and September 7, 2016, and Employee wishes to terminate coverage under the Employer’s plan, then Employee may provide notice of Employee’s election to terminate coverage and no further payments shall be due under this provision.
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Welfare Benefit Coverage. After the Closing Date, Purchaser shall maintain for the benefit of the New Employees, welfare benefit programs, including medical and dental benefits, long term disability insurance, life insurance and a severance plan, which are substantially comparable to those marked by an asterisk on PART 4.6B OF THE DISCLOSURE LETTER to this Agreement to the extent that such coverages may be obtained by Purchaser on reasonable commercial terms ("Mirror Programs"). Except as provided in SECTION 12.3(b) below, if Purchaser does not obtain such coverages on reasonable commercial terms, to the extent that Purchaser or any of its Affiliates maintains a welfare benefit program of the same type for its employees( generally a "Replacement Program"), Purchaser shall take all actions necessary or appropriate to permit the New Employees who were participating in Sellers' welfare benefit program immediately prior to the Closing Date to immediately thereafter participate in the Replacement Program effective as of the Closing Date. Nothing in this Agreement shall be construed to require Purchaser or any of its Affiliates to provide any specific type of benefits for any person under any Replacement Program that is not available to PGT's employees generally. If Purchaser discontinues any Mirror Program, to the extent that Purchaser or any of its Affiliates maintains a Replacement Program of the same type, Purchaser shall take all actions necessary or appropriate to permit New Employees who were participating in the Mirror Program to immediately thereafter participate in the Replacement Program. Such Mirror Programs or Replacement Programs will (i) provide coverage to each New Employee effective on the Closing Date, (ii) credit, for the year in which the Closing Date occurs, any duplicative deductible payments incurred by such New Employee during such year under a group health plan, and (iii) waive any preexisting condition restrictions for such New Employee to the extent that the preexisting condition restrictions were waived under Sellers' welfare benefit programs. Each of the Sellers and Purchaser agree that (i) benefit claims by New Employees for obligations or expenses incurred on or prior to the Closing Date shall be the responsibility of the Sellers (except to the extent Purchaser is required to pay certain liabilities as described in SECTION 3.4 of this Agreement), and (ii) benefit claims by New Employees for obligations or expenses incurred after the Closing Date shall be th...
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Welfare Benefit Coverage. The Company will, at normal employee rates, provide Executive and, to the extent available before the Qualified Termination, Executive's eligible dependents with coverage under the Company's medical/dental plan, life insurance and accident plan and disability plan until the earlier of (A) ___________ months after the date of Executive's Qualified Termination or (B) the first date that Executive is covered under another employer's program which provides substantially the same level of benefit coverage without exclusion for pre-existing conditions. After this period of coverage, Executive (and, if
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Welfare Benefit Coverage 
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Related to Welfare Benefit Coverage

  • 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 available to similarly-situated employees of the Company, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate (as defined below) of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Continued Welfare Benefits The Company shall, at its option, either (A) continue to provide medical, life insurance, accident insurance and disability benefits to the Executive and the Executive’s spouse and dependents at least equal to the benefits provided by the Company and its Subsidiaries generally to other active peer executives of the Company and its Subsidiaries, or (B) pay Executive the cost of obtaining equivalent coverage, in the case of each of clauses (A) and (B), for a period of time commencing on the Termination Date and ending on the date that is eighteen (18) months after the Termination Date; provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. Any provision of benefits pursuant to this Section 4(a)(iii) in one (1) tax year of the Executive (the “Executive Tax Year”) shall not affect the amount of such benefits to be provided in any other Executive Tax Year. The right to such benefits shall not be subject to liquidation or exchange for any other benefit. Executive agrees to make (and to cause his dependents to make) a timely election under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) to the extent requested by Employer, to facilitate Employer’s provision of continuation coverage.

  • Health and Welfare Benefit Plans During the Employment Period, Executive and Executive’s immediate family shall be entitled to participate in such health and welfare benefit plans as the Employer shall maintain from time to time for the benefit of senior executive officers of the Employer and their families, on the terms and subject to the conditions set forth in such plan. Nothing in this Section shall limit the Employer’s right to change or modify or terminate any benefit plan or program as it sees fit from time to time in the normal course of business so long as it does so for all senior executives of the Employer.

  • 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.

  • 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.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Retiree Benefits No Covered Person or ERISA Affiliate of such Covered Person has an obligation to provide any Person with any medical, life insurance, or similar benefit following such Person's retirement or termination of employment (or to such Person's beneficiary subsequent to such Person's death) other than (i) such benefits provided to Persons at such Person's sole expense and (ii) obligations under COBRA.

  • Continuation of Welfare Benefits For the twenty-four (24) month period immediately following the Date of Termination, the Company shall arrange to provide the Executive and his dependents life, disability, accident and health insurance benefits and other benefits and perquisites (including employee stay rates) substantially similar to those provided to the Executive and his dependents immediately prior to the Date of Termination or, if more favorable to the Executive, those provided to the Executive and his dependents immediately prior to the first occurrence of an event or circumstance constituting Good Reason, at no greater cost to the Executive than the cost to the Executive immediately prior to such date or occurrence. Benefits otherwise receivable by the Executive pursuant to this Section 6(a)(2) shall be reduced to the extent benefits of the same type are received by the Executive from another employer during the twenty-four (24) month period following the Executive's termination of employment; provided, however, that the Company shall reimburse the Executive for the excess, if any, of the cost of such benefits to the Executive over such cost immediately prior to the Date of Termination or, if more favorable to the Executive, the first occurrence of an event or circumstance constituting Good Reason.

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