Welfare Benefits; COBRA Sample Clauses

Welfare Benefits; COBRA. All Transferred Employees shall cease to participate in the welfare benefit plans of the Sellers and their Subsidiaries as of the Closing Date, and such welfare benefit plans shall only be required to pay claims of Transferred Employees or their dependents or beneficiaries required to be paid under the terms of such welfare benefit plans to the extent incurred prior to the Closing Date. For the purposes of this Section 8.4(e), a claim shall be deemed incurred in accordance with the following: (i) a medical, dental, or flexible spending account (including medical, dental and dependent care flexible spending accounts) claim shall be deemed incurred on the date the service is rendered or the product is purchased; provided, however, a medical claim relating to a claimant’s hospitalizations shall be deemed to be incurred on the date the claimant was first hospitalized; (ii) a life insurance or dismemberment claim shall be deemed incurred on the date of the individual’s death or dismemberment; (iii) a long-term disability claim shall be deemed incurred on the date the individual becomes disabled under the terms of the relevant plan or program; (iv) with respect to short-term disability or salary continuation claims, on each day for which income benefits are payable to the claimant; and (v) with respect to workers’ compensation claims, on the date the incident giving rise to the claim occurred. The Sellers and their Subsidiaries shall retain all obligations and liabilities arising under COBRA with respect to all employees of the Business, and all “qualified beneficiaries” of such employees (including any “M&A qualified beneficiaries”), for whom a “qualifying event” occurs on or before the Closing Date. The Buyer and its Affiliates shall have sole responsibility for all obligations and liabilities arising under COBRA with respect to all Transferred Employees, and all “qualified beneficiaries” of such employees, for whom a “qualifying event” occurs after the Closing Date. The terms “qualified beneficiaries” and “qualifying event” shall have the meaning ascribed to them under Section 4980B of the Code and Sections 601-608 of ERISA, and the term “M&A qualified beneficiary” shall have the meaning ascribed to it under Section 54.4980B-9 Q&A-7 of the Treasury regulations.
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Related to Welfare Benefits; COBRA

  • Welfare Benefits Subject to the terms and conditions of this Agreement, for a period of six (6) months following the date of the 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 group medical benefits which are substantially similar to those provided from time to time to similarly situated active employees of the Company (and their eligible dependents) (“Medical Continuation Benefits”). Without limiting the generality of the foregoing, such Medical Continuation Benefits shall be provided on substantially the same terms and conditions and at the same cost to the Executive as apply to similarly situated active employees of the Company. 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 Medical Continuation 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 Medical Continuation 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.

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

  • 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.

  • Health and Welfare Benefits applies to full-time nurses only)

  • 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.

  • 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.

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

  • 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.

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

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

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