Welfare Benefits. If Xx. Xxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c). (i) Xx. Xxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Termination 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 Xx. Xxxxxx'x extended medical coverage under this Paragraph 2. (i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan. (A) The extended medical coverage afforded to Xx. Xxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated. (B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx or his dependents may elect. In the event that Xx. Xxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed. (ii) Xx. Xxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 3 contracts
Samples: Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Xxxxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Xxxxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Xxxxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Xxxxxxxx'x Termination 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 Xx. Xxxxxx'x Xxxxxxxx'x extended medical coverage under this Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Xxxxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Xxxxxxxx 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 Xx. Xxxxxx Xxxxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Xxxxxxxx or his dependents may elect. In the event that Xx. Xxxxxx Xxxxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Xxxxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Xxxxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Xxxxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 3 contracts
Samples: Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Executive meets the eligibility requirements ---------------- of Paragraph 2.(aSection 2(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, or other plans providing such benefits to similarly situated employees who retire, he shall be entitled to the benefits set forth in this Paragraph 2.(cSection 2(c).
(i) Xx. Xxxxxx Executive shall be eligible to participate in the Company's Group Health PlanPlan 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 6 Executive's Termination Date unless otherwise specifically provided under such plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Executive elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Executive's Termination 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 Xx. Xxxxxx'x Executive's extended medical coverage under this Paragraph 2.
(iSection 2(c)(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Executive pursuant to Paragraph 2.(c)(iSection 2(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(iSection 2(c)(i) shall be a part in lieu of and not in addition to any COBRA Coverage which XxExecutive or his dependent may elect. Xxxxxx Executive or his dependents may electmust waive COBRA coverage under the Group Health Plan as a condition precedent to receiving extended medical coverage pursuant to this Section 2(c). In the event that Xx. Xxxxxx Executive or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Executive or his dependents by virtue of the provisions of Paragraph 2.(c)(iSection 2(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Regardless of whether Executive elects the extended coverage described in Section 2(c)(i) hereof, he shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Executive's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 2 contracts
Samples: Change in Control Agreement (Mirant Corp), Change in Control Agreement (Mirant Corp)
Welfare Benefits. If Xx. Xxxxxx Xxxxxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Xxxxxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Xxxxxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxxxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Xxxxxxxxx'x Termination 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 Xx. Xxxxxx'x Xxxxxxxxx'x extended medical coverage under this Paragraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Xxxxxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Xxxxxxxxx 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 Xx. Xxxxxx Xxxxxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Xxxxxxxxx or his dependents may elect. In the event that Xx. Xxxxxx Xxxxxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Xxxxxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Xxxxxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Xxxxxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 2 contracts
Samples: Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Xxxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Xxxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Xxxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Xxxxxxx'x Termination 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 Xx. Xxxxxx'x Xxxxxxx'x extended medical coverage under this Paragraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Xxxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Xxxxxxx 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 Xx. Xxxxxx Xxxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Xxxxxxx or his dependents may elect. In the event that Xx. Xxxxxx Xxxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Xxxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Xxxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Xxxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 2 contracts
Samples: Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Evans meets the eligibility requirements of Paragraph 2.(a0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Evans shall be eligible to participate in the CompanyXxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Evans's Years of Service, not to exceed five (50) yearsxxxxx. If Xx. Xxxxxx Mr. Evans elects to receive this extended medical coveragemedicax xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Evans's Termination 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 Xx. Xxxxxx'x Mr. Evans's extended medical coverage under this Paragraph Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Evans pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Evans in connection with such coverage shall coverxxx xxxxx 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 Xx. Xxxxxx Mr. Evans in connection with this extended coverage extenxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Evans or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Evans or his dependents become eligible to be eligxxxx xx xe 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Evans or his dependents by virtue of the provisions ox xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Evans shall be entitled to receive cash in an xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Evans's cost of premiums for three (30) years of xxxxx xx coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Bowers meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Bowers shall be eligible to participate in the Companyxxx Xxxxxny's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Bowers' Years of Service, not to exceed five fixx (50) yearsxxxrs. If Xx. Xxxxxx Mr. Bowers elects to receive this extended medical coveragemedxxxx xxxxxage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Bowers' Termination 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 Xx. Xxxxxx'x Mr. Bowers' extended medical coverage under this Paragraph 2.Xxxxxxxph 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Bowers pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Bowers in connection with such coverage shall coxxxxxx xxxll 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 Xx. Xxxxxx Mr. Bowers in connection with this extended coverage exxxxxxx xxxerage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Bowers or his dependents may electelecx. In the Xx xxx event that Xx. Xxxxxx Mr. Bowers or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Bowers or his dependents by virtue of the provisions virtux xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Bowers shall be entitled to receive cash in xxxx xx an amount equal to the Company's and Xx. Xxxxxx'x Mr. Bowers' cost of premiums for three (3) years of coverage xx xxxxrage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. McCrary meets the eligibility requirements of Paragraph xx Xxxxgraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. McCrary shall be eligible to participate in the particxxxxx xx xxx Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. McCrary's Years of Service, not to exceed five exceex xxxx (50) yearsxxxxx. If Xx. Xxxxxx Xx Mr. McCrary elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. McCrary's Termination Date (and for such other dependents suxx xxxxx xxxxndents as may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. McCrary's extended medical coverage under this Paragraph xxxxx xxxx Xxxagraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. McCrary pursuant to Paragraph 2.(c)(i), as well as xxxx xs the premiums to be paid by Xx. Xxxxxx Mr. McCrary in connection with such coverage shall be xxxxx xx 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 Xx. Xxxxxx Mr. McCrary in connection with this extended coverage extendex xxxxxxxx shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. McCrary or his dependents may elect. In the event that Xx. Xxxxxx Mr. McCrary or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. McCrary or his dependents by virtue of the provisions txx xxxxxxxxns of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. McCrary shall be entitled to receive cash in an amount xx xx xxxunt equal to the Company's and Xx. Xxxxxx'x Mr. McCrary's cost of premiums for three (30) years of coverage xxxxx xx xxverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Ratcliffe meets the eligibility requirements of Paragraph 2.(a) hereof and xxxxxx xxx is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Ratcliffe shall be eligible to participate in the Company's Group Comxxxx'x Xxxxx Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Ratcliffe's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Xatcliffe elects to receive this extended medical coverage, he shall xxxll also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Ratcliffe's Termination Date (and for such other dependents as may be xxx xe entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Ratcliffe's extended medical coverage under this Paragraph 2.Paraxxxxx 0.(x)
(ix) to xx the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Ratcliffe pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the ax xxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Ratcliffe in connection with such coverage shall be determined sxxxx xx xxxxxmined 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 Xx. Xxxxxx Mr. Ratcliffe in connection with this extended coverage shall cxxxxxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Ratcliffe or his dependents may elect. In the event that Xx. Xxxxxx thx xxxxx xxxx Mr. Ratcliffe or his dependents become eligible to be coveredxx xx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Ratcliffe or his dependents by virtue of the provisions of xxxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Ratcliffe shall be entitled to receive cash in an amount equal to amoxxx xxxxx xx the Company's and Xx. Xxxxxx'x Mr. Ratcliffe's cost of premiums for three (3) years of coverage under the cxxxxxxx xxxxx xhe Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Klappa meets the eligibility requirements of Paragraph 2.(aParagraxx 0.(x) hereof xereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Klappa shall be eligible to participate in the Companyxxx Xxxxxxy's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Klappa's Years of Service, not to exceed five fixx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Klappa elects to receive this extended medical coveragemedixxx xxxxxxge, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Klappa's Termination 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 Xx. Xxxxxx'x Mr. Klappa's extended medical coverage under this Paragraph thxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Klappa pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Klappa in connection with such coverage shall covxxxxx xxxxl 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 Xx. Xxxxxx Mr. Klappa in connection with this extended coverage extxxxxx xxxxrage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Klappa or his dependents may elect. In the event Xx xxx xvent that Xx. Xxxxxx Mr. Klappa or his dependents become eligible to be elxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Klappa or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Klappa shall be entitled to receive cash in an amount xx xxxxxx equal to the Company's and Xx. Xxxxxx'x Mr. Klappa's cost of premiums for three (3) years of coverage yeaxx xx xxxxxxge under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Holland meets the eligibility requirements of Paragraph 2.(aParagraxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Holland shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Holland's Years of Service, not to exceed five fixx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Holland elects to receive this extended medical coveragemedixxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Holland's Termination 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 Xx. Xxxxxx'x Mr. Holland's extended medical coverage under this Paragraph thxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Holland pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Holland in connection with such coverage shall covxxxxx xxxxx 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 Xx. Xxxxxx Mr. Holland in connection with this extended coverage extxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Holland or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Holland or his dependents become eligible to be elxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Holland or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Holland shall be entitled to receive cash in an receivx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Holland's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Bowers meets the eligibility requirements of reqxxxxxxxxx xf Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Bowers shall be eligible to participate in the Companyxxx Xxmpany's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Bowers' Years of Service, not to exceed five xxxx (50) years. If Xx. Xxxxxx Mr. Bowers elects to receive this extended medical coveragexxxxxxx xxverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Bowers' Termination Date (and for such other dependents as ax may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Bowers' extended medical coverage under this Paragraph 2.Xxxxgraph 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Bowers pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Bowers in connection with such coverage xxxxxxxx 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 Xx. Xxxxxx Mr. Bowers in connection with this extended xxxxxxxx coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Bowers or his dependents may electexxxx. In the Xx xhe event that Xx. Xxxxxx Mr. Bowers or his dependents become eligible to be becomx xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Bowers or his dependents by virtue of the provisions vixxxx xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Bowers shall be entitled to receive cash in an amount xx xxount equal to the Company's and Xx. Xxxxxx'x Mr. Bowers' cost of premiums for three (3) years of coverage xxxxx xx xoverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Hill meets the eligibility requirements rxxxxxxxxnts of Paragraph 2.(a) hereof and is not no otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Hill shall be eligible to participate parxxxxxxxx for a period not to exceed five (5) years in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Hill's Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxx elects to receive this receixx xxxx extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Hill's Termination Date (and for such axx xxx xxch 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 Xx. Xxxxxx'x Mr. Hill's extended medical coverage coveraxx under this Paragraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Hill pursuant to Paragraph 2.(c)(i2.(x)(x), as well as the premiums to be paid by Xx. Xxxxxx Mr. Hill in connection with xxxh 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 Xx. Xxxxxx Mr. Hill in connection with this txxx extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Hill or his dependents depxxxxxx may elect. In the event that Xx. Xxxxxx Mr. Hill or his dependents become depxxxxxx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Hill or his dependents dxxxxxxxx by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Hill shall be entitled to receive cash recexxx xxxx in an amount equal to the Company's and Xx. Xxxxxx'x Mr. Hill's cost of premiums for three xxx xxxee (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Holland meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Holland shall be eligible to participate in the Companyxxx Xxxxxxy's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Holland's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Holland elects to receive this extended medical coveragemedxxxx xxxxxxge, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Holland's Termination 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 Xx. Xxxxxx'x Mr. Holland's extended medical coverage under this Paragraph txxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Holland pursuant to Paragraph 2.(c)(i2. (c)(i), as well xell as the premiums to be paid by Xx. Xxxxxx Mr. Holland in connection with such coverage shall coxxxxxx xxxxl 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 Xx. Xxxxxx Mr. Holland in connection with this extended coverage exxxxxxx xxxxrage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Holland or his dependents may electelecx. In the event Xx xxx xvent that Xx. Xxxxxx Mr. Holland or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Holland or his dependents by virtue of the provisions virtux xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Holland shall be entitled to receive cash in an amount xx xxxxxx equal to the Company's and Xx. Xxxxxx'x Mr. Holland's cost of premiums for three (3) years of coverage yexxx xx xxxxxxge under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Fanning meets the eligibility requirements of Paragraph 2.(a) hereof and xxxxxx xxx is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Fanning shall be eligible to participate in the Company's Group Compaxx'x Xxxxx Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Fanning's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Xanning elects to receive this extended medical coverage, he shall xxxll also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Fanning's Termination Date (and for such other dependents as may be mxx xx entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Fanning's extended medical coverage under this Paragraph 2Paragrxxx 0.
(ix) to xx the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Fanning pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the xxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Fanning in connection with such coverage shall be determined shaxx xx xxxxxmined 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 Xx. Xxxxxx Mr. Fanning in connection with this extended coverage shall covxxxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Fanning or his dependents may elect. In the event that Xx. Xxxxxx xxxxx xxxx Mr. Fanning or his dependents become eligible to be coveredxx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Fanning or his dependents by virtue of the provisions of pxxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Fanning shall be entitled to receive cash in an amount equal to amounx xxxxx xx the Company's and Xx. Xxxxxx'x Mr. Fanning's cost of premiums for three (3) years of coverage under the covxxxxx xxxxx xhe Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. McCrary meets the eligibility requirements of Paragraph 2.(aParagraxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. McCrary shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. McCrary's Years of Service, not to exceed five fixx (50) yearsxxxxx. If Xx. Xxxxxx Mr. McCrary elects to receive this extended medical coveragemedixxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. McCrary's Termination 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 Xx. Xxxxxx'x Mr. McCrary's extended medical coverage under this Paragraph thxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. McCrary pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. McCrary in connection with such coverage shall covxxxxx xxxxx 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 Xx. Xxxxxx Mr. McCrary in connection with this extended coverage extxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. McCrary or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. McCrary or his dependents become eligible to be elxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. McCrary or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. McCrary shall be entitled to receive cash in an receivx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. McCrary's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Westbrook meets the eligibility requirements of Paragraph 2.(aParagxxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Westbrook shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Westbrook's Years of Service, not to exceed five xxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Westbrook elects to receive this extended medical coveragemexxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Westbrook's Termination Date (and for such other dependents xxxxxxxxxx as may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Westbrook's extended medical coverage under this Paragraph xxxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Westbrook pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Westbrook in connection with such coverage shall cxxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Westbrook in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Westbrook or his dependents may electelexx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Westbrook or his dependents become eligible to be xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Westbrook or his dependents dependent by virtue of the provisions virtux xx xxx xxxxisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed2.
(ii) Xx. Xxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Xxxxxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Xxxxxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Xxxxxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxxxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Xxxxxxxxx'x Termination 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 Xx. Xxxxxx'x Xxxxxxxxx'x extended medical coverage under this Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Xxxxxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Xxxxxxxxx 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 Xx. Xxxxxx Xxxxxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Xxxxxxxxx or his dependents may elect. In the event that Xx. Xxxxxx Xxxxxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Xxxxxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Xxxxxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Xxxxxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Martin meets the eligibility requirements of Paragraph 2.(a) hereof and hxxxxx xxx is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Martin shall be eligible to participate in the Company's Group Companx'x Xxxxx Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Martin's Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xartin elects to receive this extended medical coverage, he shall shxxx also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Martin's Termination Date (and for such other dependents as may be dependexxx xx xxx xx entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Martin's extended medical coverage under this Paragraph 2.Paragraxx 0.(x)
(ix) to the xx xxx extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Martin pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the wxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Martin in connection with such coverage shall be determined shalx xx xxxxxmined 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 Xx. Xxxxxx Mr. Martin in connection with this extended coverage shall covexxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Martin or his dependents may elect. In the event that Xx. Xxxxxx exxxx xxxx Mr. Martin or his dependents become eligible to be coveredxx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Martin or his dependents by virtue of the provisions of prxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Martin shall be entitled to receive cash in an amount xx xxxxxx equal to the Company's and Xx. Xxxxxx'x Mr. Martin's cost of premiums for three (3) years of coverage yearx xx xxxxxxxx under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Wakefield meets the eligibility requirements of Paragraph 2.(aParagxxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Wakefield shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Wakefield's Years of Service, not to exceed five xxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Wakefield elects to receive this extended medical coveragemexxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Wakefield's Termination Date (and for such other dependents xxxxxxxxxx as may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Wakefield's extended medical coverage under this Paragraph xxxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Wakefield pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Wakefield in connection with such coverage shall cxxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Wakefield in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Wakefield or his dependents may electelexx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Wakefield or his dependents become eligible to be xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Wakefield or his dependents by virtue of the provisions virtxx xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Wakefield shall be entitled to receive cash in an recexxx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Wakefield's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. McCrary meets the eligibility requirements of Paragraph 2.(a) hereof and xxxxxx xxx is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. McCrary shall be eligible to participate in the Company's Group Compaxx'x Xxxxx Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. McCrary's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx XcCrary elects to receive this extended medical coverage, he shall xxxll also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. McCrary's Termination Date (and for such other dependents as may be mxx xx entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. McCrary's extended medical coverage under this Paragraph 2Paragrxxx 0.
(ix) to xx the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. McCrary pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the xxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. McCrary in connection with such coverage shall be determined shaxx xx xxxxxmined 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 Xx. Xxxxxx Mr. McCrary in connection with this extended coverage shall covxxxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. McCrary or his dependents may elect. In the event that Xx. Xxxxxx xxxxx xxxx Mr. McCrary or his dependents become eligible to be coveredxx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. McCrary or his dependents by virtue of the provisions of pxxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed2.
(ii) Xx. Xxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Miller meets the eligibility requirements xequirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Miller shall be eligible to participate paxxxxxxxxx for a period not to exceed five (5) years in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Miller's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Miller elects to receive this extended xxxxxxx xxxx xxxxxxxx medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Miller's Termination Date (and for xxx xxx 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 Xx. Xxxxxx'x extended medical coverage Mr. Miller's extendxx xxxxxxx xxverage under this Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Miller pursuant to Paragraph 2.(c)(i2.(x)(x), as xs well as the premiums to be paid by Xx. Xxxxxx Mr. Miller in connection xxxxxxxxxx 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 Xx. Xxxxxx Mr. Miller in connection xxxxxxxxxx with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Miller or his dependents hxx xxxxxxxnt may elect. In the event that Xx. Xxxxxx Mr. Miller or his dependents become hxx xxxxxxxnt 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Miller or his dependents hxx xxxxxxent by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Miller shall be entitled to receive cash rexxxxx xxxx in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three Mr. Miller's cxxx xx xxxxxxxx xxx xxxxx (30) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx XxXxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx XxXxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x XxXxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx XxXxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x XxXxxxx'x Termination 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 Xx. Xxxxxx'x XxXxxxx'x extended medical coverage under this Paragraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx XxXxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx XxXxxxx 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 Xx. Xxxxxx XxXxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx XxXxxxx or his dependents may elect. In the event that Xx. Xxxxxx XxXxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx XxXxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx XxXxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x XxXxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Dahlberg meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Dahlberg shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Dahlberg's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Dahlberg elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Dahlberg's Termination 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 Xx. Xxxxxx'x Mr. Dahlberg's extended medical coverage under this Paragraph 2.txxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Dahlberg pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Dahlberg in connection with such coverage shall coxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Dahlberg in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Dahlberg or his dependents may electelecx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Dahlberg or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Dahlberg or his dependents by virtue of the provisions virtux xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Dahlberg shall be entitled to receive cash in an receixx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Dahlberg's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Franklin meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Franklin shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Franklin's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Franklin elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Franklin's Termination 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 Xx. Xxxxxx'x Mr. Franklin's extended medical coverage under this Paragraph 2.txxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Franklin pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Franklin in connection with such coverage shall coxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Franklin in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Franklin or his dependents may electelecx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Franklin or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Franklin or his dependents by virtue of the provisions virtux xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Franklin shall be entitled to receive cash in an amount ix xx xxxxxx equal to the Company's and Xx. Xxxxxx'x Mr. Franklin's cost of premiums for three (3) years of coverage yexxx xx xxxxxxxe under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Executive meets the eligibility requirements ---------------- of Paragraph 2.(aSection 2(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, or other plans providing such benefits to similarly situated employees who retire, he shall be entitled to the benefits set forth in this Paragraph 2.(cSection 2(c).
(i) Xx. Xxxxxx Executive shall be eligible to participate in the Company's Group Health PlanPlan 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 Termination Date unless otherwise specifically provided under such plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Executive elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Executive's Termination 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 Xx. Xxxxxx'x Executive's extended medical coverage under this Paragraph 2.
(iSection 2(c)(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Executive pursuant to Paragraph 2.(c)(iSection 2(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Executive in connection with such coverage shall be determined in accordance with the terms of the Group Health Plan and shall 6 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 Xx. Xxxxxx Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(iSection 2(c)(i) shall be a part in lieu of and not in addition to any COBRA Coverage which XxExecutive or his dependent may elect. Xxxxxx Executive or his dependents may electmust waive COBRA coverage under the Group Health Plan as a condition precedent to receiving extended medical coverage pursuant to this Section 2(c). In the event that Xx. Xxxxxx Executive or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Executive or his dependents by virtue of the provisions of Paragraph 2.(c)(iSection 2(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Regardless of whether Executive elects the extended coverage described in Section 2(c)(i) hereof, he shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Executive's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Executive meets the eligibility ------------------ requirements of Paragraph 2.(aSection 2(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, or other plans providing such benefits to similarly situated employees who retire, he shall be entitled to the benefits set forth in this Paragraph 2.(cSection 2(c).
(i) Xx. Xxxxxx Executive shall be eligible to participate in the Company's Group Health PlanPlan 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 Termination Date unless otherwise specifically provided under such plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Executive elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Executive's Termination 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 Xx. Xxxxxx'x Executive's extended medical coverage under this Paragraph 2.
(iSection 2(c)(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Executive pursuant to Paragraph 2.(c)(iSection 2(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(iSection 2(c)(i) shall be a part in lieu of and not in addition to any COBRA Coverage which XxExecutive or his dependent may elect. Xxxxxx Executive or his dependents may electmust waive COBRA coverage under the Group Health Plan as a condition precedent to receiving extended medical coverage pursuant to this Section 2(c). In the event that Xx. Xxxxxx Executive or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Executive or his dependents by virtue of the provisions of Paragraph 2.(c)(iSection 2(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Regardless of whether Executive elects the extended coverage described in Section 2(c)(i) hereof, he shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Executive's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Fanning meets the eligibility requirements of Paragraph 2.(aParagxxxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Fanning shall be eligible to participate in the Companyxxx Xxxxxny's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Fanning's Years of Service, not to exceed five xxxx (50) yearsxxxxs. If Xx. Xxxxxx Mr. Fanning elects to receive this extended medical coveragemexxxxx xxxxxage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Fanning's Termination 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 Xx. Xxxxxx'x Mr. Fanning's extended medical coverage under this Paragraph xxxx Xxxxxxxxh 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Fanning pursuant to Paragraph 2.(c)(i), as well xell as the premiums to be paid by Xx. Xxxxxx Mr. Fanning in connection with such coverage shall cxxxxxxx xxxll 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 Xx. Xxxxxx Mr. Fanning in connection with this extended coverage exxxxxxx xxxerage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Fanning or his dependents may electelexx. In the Xx xxx event that Xx. Xxxxxx Mr. Fanning or his dependents become eligible to be xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Fanning or his dependents by virtue of the provisions virtxx xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Fanning shall be entitled to receive cash in recexxx xxxx xx an amount equal to the Company's and Xx. Xxxxxx'x Mr. Fanning's cost of premiums for three (3) years of coverage yxxxx xx xxxxxage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. James meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. James shall be eligible to participate in the CompanyXxxxany's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. James' Years of Service, not to exceed five fixx (50) yearsxxars. If Xx. Xxxxxx Mr. James elects to receive this extended medical coveragemedxxxx xxxxrage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. James' Termination 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 Xx. Xxxxxx'x Mr. James' extended medical coverage under this Paragraph Xxxxxxaph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. James pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. James in connection with such coverage shall coxxxxxx xxall 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 Xx. Xxxxxx Mr. James in connection with this extended coverage exxxxxxx xxverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. James or his dependents may electelecx. In the Xx xxx event that Xx. Xxxxxx Mr. James or his dependents become eligible to exxxxxxx xo 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. James or his dependents by virtue of the virtux xx xxx provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. James shall be entitled to receive cash in xxxx xn an amount equal to the Company's and Xx. Xxxxxx'x Mr. James' cost of premiums for three (3) years of coverage xx xxxerage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Harris meets the eligibility requirements of Paragraph 2.(aParagrapx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Harris shall be eligible to participate in the Companytxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Harris's Years of Service, not to exceed five fivx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Harris elects to receive this extended medical coveragemedicxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Harris's Termination 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 Xx. Xxxxxx'x Mr. Harris's extended medical coverage under this Paragraph thix Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Harris pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Harris in connection with such coverage shall covexxxx xxxxx 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 Xx. Xxxxxx Mr. Harris in connection with this extended coverage extexxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Harris or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Harris or his dependents become eligible to be elixxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Harris or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Harris shall be entitled to receive cash in an xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Harris's cost of premiums for three (30) years of xxxxx xx coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Garrett meets the eligibility requirements of Paragraph 2.(a) hereof and is hxxxxx xxx xs not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Garrett shall be eligible to participate in the Company's Group Health Companx'x Xxxxx Xealth Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Garrett's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Xxrrett elects to receive this extended medical coverage, he shall xxxxl also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Garrett's Termination Date (and for such other dependents as may be max xx entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Garrett's extended medical coverage under this Paragraph 2.Paragraxx 0.(x)
(ix) to xx the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Garrett pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the wxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Garrett in connection with such coverage shall be determined shalx xx xxxxxxined 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 Xx. Xxxxxx Mr. Garrett in connection with this extended coverage shall covexxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Garrett or his dependents may elect. In the event that Xxexxxx xxxx Xr. Xxxxxx Garrett or his dependents become eligible to be coveredxx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Garrett or his dependents by virtue of the provisions of prxxxxxxxx xx Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Garrett shall be entitled to receive cash in an amount equal to the xxxxx xx xhe Company's and Xx. Xxxxxx'x Mr. Garrett's cost of premiums for three (3) years of coverage under the covexxxx xxxxx xxe Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Martin meets the eligibility requirements of Paragraph 2.(aParagrapx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Martin shall be eligible to participate in the Companytxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Martin's Years of Service, not to exceed five fivx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Martin elects to receive this extended medical coveragemedicxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Martin's Termination 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 Xx. Xxxxxx'x Mr. Martin's extended medical coverage under this Paragraph 2.thix Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Martin pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Martin in connection with such coverage shall covexxxx xxxxx 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 Xx. Xxxxxx Mr. Martin in connection with this extended coverage extexxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Martin or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Martin or his dependents become eligible to be elixxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Martin or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Martin shall be entitled to receive cash in an xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Martin's cost of premiums for three (30) years of xxxxx xx coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Executive meets the eligibility requirements of Paragraph 2.(aSection 2(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, or other plans providing such benefits to similarly situated employees who retire, he shall be entitled to the benefits set forth in this Paragraph 2.(cSection 2(c).
(i) Xx. Xxxxxx Executive shall be eligible to participate in the Company's Group Health PlanPlan 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 Termination Date unless otherwise specifically provided under such plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Executive elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Executive's Termination 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 Xx. Xxxxxx'x Executive's extended medical coverage under this Paragraph 2.
(iSection 2(c)(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Executive pursuant to Paragraph 2.(c)(iSection 2(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(iSection 2(c)(i) shall be a part in lieu of and not in addition to any COBRA Coverage which XxExecutive or his dependent may elect. Xxxxxx Executive or his dependents may electmust waive COBRA coverage under the Group Health Plan as a condition precedent to receiving extended medical coverage pursuant to this Section 2(c). In the event that Xx. Xxxxxx Executive or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Executive or his dependents by virtue of the provisions of Paragraph 2.(c)(iSection 2(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Regardless of whether Executive elects the extended coverage described in Section 2(c)(i) hereof, he shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Executive's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Garrett meets the eligibility requirements of Paragraph 2.(aParaxxxxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Garrett shall be eligible to participate in the Companyxxx Xxxxany's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Garrett's Years of Service, not to exceed five xxxx (50) yearsxxxrs. If Xx. Xxxxxx Mr. Garrett elects to receive this extended medical coveragemxxxxxx xxxxrage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Garrett's Termination 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 Xx. Xxxxxx'x Mr. Garrett's extended medical coverage under this Paragraph 2.xxxx Xxxxxxxph 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Garrett pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Garrett in connection with such coverage shall xxxxxxxx xxall 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 Xx. Xxxxxx Mr. Garrett in connection with this extended coverage xxxxxxxx xxverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Garrett or his dependents may electelxxx. In the Xx xxx event that Xx. Xxxxxx Mr. Garrett or his dependents become eligible to be xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Garrett or his dependents by virtue of the provisions virxxx xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Garrett shall be entitled to receive cash in recxxxx xxxx xn an amount equal to the Company's and Xx. Xxxxxx'x Mr. Garrett's cost of premiums for three (3) years of coverage xxxxx xx xxxxrage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Franklin meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Franklin shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Franklin's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Franklin elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Franklin's Termination 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 Xx. Xxxxxx'x Mr. Franklin's extended medical coverage under this Paragraph 2.txxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Franklin pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Franklin in connection with such coverage shall coxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Franklin in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Franklin or his dependents may electelecx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Franklin or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Franklin or his dependents by virtue of the provisions virtux xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Franklin shall be entitled to receive cash in an receixx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Franklin's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Hairston meets the eligibility requirements of Paragraph 2.(a) hereof and xxxxxx xxx is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c2.( c).
(i) Xx. Xxxxxx Mr. Hairston shall be eligible to participate in the Company's Group Compxxx'x Xxxxx Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Hairston's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Xairston elects to receive this extended medical coverage, he shall xxxll also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Hairston's Termination Date (and for such other dependents as may be xxx xe entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Hairston's extended medical coverage under this Paragraph 2.Paragxxxx 0.(x)
(ix) to xx the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Hairston pursuant to Paragraph 2.(c)(i2. (c)(i), as well as the xxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Hairston in connection with such coverage shall be determined shxxx xx xxxxxmined 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 Xx. Xxxxxx Mr. Hairston in connection with this extended coverage shall coxxxxxx xxxxx be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Hairston or his dependents may elect. In the event that Xx. Xxxxxx xxxxx xxxx Mr. Hairston or his dependents become eligible to be coveredtx xx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Hairston or his dependents by virtue of the provisions of xxxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Hairston shall be entitled to receive cash in an amount equal to amouxx xxxxx xx the Company's and Xx. Xxxxxx'x Mr. Hairston's cost of premiums for three (3) years of coverage under the coxxxxxx xxxxx xhe Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Boren meets the eligibility requirements of Paragraph 2.(aParagraxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Boren shall be eligible to participate in the CompanyXxxxxny's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Boren's Years of Service, not to exceed five fixx (50) yearsxxxxs. If Xx. Xxxxxx Mr. Boren elects to receive this extended medical coveragemedixxx xxxxxage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Boren's Termination 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 Xx. Xxxxxx'x Mr. Boren's extended medical coverage under this Paragraph Xxxxxxxxh 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Boren pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Boren in connection with such coverage shall covxxxxx xxxll 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 Xx. Xxxxxx Mr. Boren in connection with this extended coverage extxxxxx xxxerage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Boren or his dependents dependent may elect. In the event Xx xxx xvent that Xx. Xxxxxx Mr. Boren or his dependents become eligible to dependent becomes elxxxxxx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Boren or his dependents dependent by virtue of the provisions xx xxx xxovisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed2.
(ii) Xx. Xxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Farris meets the eligibility requirements of Paragraph 2.(aParagrapx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Farris shall be eligible to participate in the Companytxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Farris's Years of Service, not to exceed five fivx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Farris elects to receive this extended medical coveragemedicxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Farris's Termination 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 Xx. Xxxxxx'x Mr. Farris's extended medical coverage under this Paragraph 2.thix Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Farris pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Farris in connection with such coverage shall covexxxx xxxxx 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 Xx. Xxxxxx Mr. Farris in connection with this extended coverage extexxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Farris or his dependents may elect. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Farris or his dependents become eligible to be elixxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Farris or his dependents by virtue of the provisions xx xxx xxxxxxxxxx of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Farris shall be entitled to receive cash in an xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Farris's cost of premiums for three (30) years of xxxxx xx coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Hairston meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Hairston shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Hairston's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Hairston elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Hairston's Termination 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 Xx. Xxxxxx'x Mr. Hairston's extended medical coverage under this Paragraph 2.txxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Hairston pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Hairston in connection with such coverage shall coxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Hairston in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Hairston or his dependents may electelecx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Hairston or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Hairston or his dependents by virtue of the provisions virtux xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Hairston shall be entitled to receive cash in an receixx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Hairston's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant With respect to the terms health and welfare plans of Seller listed on Schedule 7.5(e), as in effect immediately prior to the Pension PlanClosing (such plans, the Group “Health Plan and the Group Life Insurance PlanWelfare Plans”), he Purchaser shall be entitled to the benefits assume and Sellers shall not retain any Liability (other than Excluded Liabilities set forth in this Paragraph 2.(cparagraphs (b).
, (e), (h) or (i) Xx. Xxxxxx shall be eligible of Schedule 2.2 and except as otherwise expressly provided in this Section 7.5) relating to participate health and welfare claims by or on behalf of Affected Employees or their covered dependents in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Termination Date (and for such other dependents as may be entitled to coverage under the provisions respect of the Health Insurance Portability and Accountability Act Welfare Plans that are incurred and reported but unpaid prior to the Closing (such claims, the “Assumed Health and Welfare Claims”). For periods from the date of 1996) this Agreement to the Closing, Sellers shall cause each of the Health and Welfare Plans to pay claims in respect of Affected Employees or their covered dependents at least as promptly as such Health and Welfare Plan has paid claims for the duration most recent completed plan year of Xx. Xxxxxx'x extended medical coverage under this Paragraph 2.
(i) such Health and Welfare Plan ended prior to the date of this Agreement. To the extent any such dependents remain eligible Assumed Health and Welfare Claims are paid by a Health and Welfare Plan on or after the Closing, Sellers shall bxxx Purchaser monthly in arrears for dependent coverage under the terms aggregate of the Group such Assumed Health Plan.
and Welfare Claims actually paid (A) The extended medical coverage afforded to Xx. Xxxxxx pursuant to Paragraph 2.(c)(ieach such bxxx, a “Health and Welfare Bxxx”), and as well soon as practicable following the premiums receipt by Purchasers from Sellers of such Health and Welfare Bxxx, Purchaser shall pay to be paid by Xx. Xxxxxx Sellers 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 Xx. Xxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx or his dependents may elect. In the event that Xx. Xxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx shall be entitled to receive cash in case an amount equal to the Company's total amount of such Health and XxWelfare Bxxx that is attributable to the Health and Welfare Plan’s cost or payment (as applicable) of the Assumed Health and Welfare Claims. Xxxxxx'x cost of premiums for three (3) years of coverage Purchaser shall also be responsible under the Group Health Plan applicable Purchaser Plans, and Group Life Insurance Plan Sellers shall not retain any Liability (other than Excluded Liabilities set forth in accordance with the terms paragraphs (b), (h) or (i) of such plans Schedule 2.2 and except as otherwise expressly provided in this Section 7.5) for health and welfare claims by or on behalf of Affected Employees or their covered dependents that are incurred but not reported as of the date of Closing or that are incurred on or after the Change in ControlClosing.
Appears in 1 contract
Samples: Asset Purchase Agreement (Kapstone Paper & Packaging Corp)
Welfare Benefits. If Xx. Xxxxxx Mr. Pershing meets the eligibility eligibilxxx requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Pershing shall be eligible to participate xxxxxxxxxxx for a period not to exceed five (5) years in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Pershing's Years of Service, not to exceed five (5) years. If Xx Xx. Xxxxxx Pershing elects to receive this extended medical tx xxxxxxx xxxx xxxxxxxx xedical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Pershing's Termination Date (and for xxx xxx 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 Xx. Xxxxxx'x extended medical coverage Mr. Pershing's extendxx xxxxxxx xxxerage under this Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Pershing pursuant to Paragraph 2.(c)(iParagrapx 0.(x)(x), as well as the premiums to be paid by Xx. Xxxxxx Mr. Pershing in connection xxxxxxxxxx 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 Xx. Xxxxxx Mr. Pershing in connection xxxxxxxxxx with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Pershing or his dependents xxx xxxxxxxnt may elect. In the event that Xx. Xxxxxx Mr. Pershing or his dependents become eligible xxx xxxxxxxxx xxxxxxx xxxxible 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Pershing or his dependents by virtue of the xxx xxxxxxxxx xx xxxxxx xx xxx provisions of Paragraph 2.(c)(i2.(c)
(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Pershing shall be entitled to xx receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three Mr. Pershing's xxxx xx xxxxxxxx xxx xxxxx (30) years xears of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Xxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Xxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Xxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Xxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Xxxxx'x Termination 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 Xx. Xxxxxx'x Xxxxx'x extended medical coverage under this Paragraph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Xxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Xxxxx 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 Xx. Xxxxxx Xxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Xxxxx or his dependents may elect. In the event that Xx. Xxxxxx Xxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Xxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Xxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Xxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Franklin meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Franklin shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Franklin's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Franklin elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Franklin's Termination 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 Xx. Xxxxxx'x Mr. Franklin's extended medical coverage under this Paragraph 2.txxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Franklin pursuant to Paragraph 2.(c)(i), as well as the premiums ax xxx xxxxxxxs to be paid by Xx. Xxxxxx Mr. Franklin in connection with such coverage shall be determined in determinex xx 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 Xx. Xxxxxx Mr. Franklin in connection with this extended coverage shall be coverxxx xxxxx xx due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Franklin or his dependents may elect. In the event that Xx. Xxxxxx Mr. Xxxxklin or his dependents become eligible to be coveredcovxxxx, by virtue of xx xxxxxx xx 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 Xx. Xxxxxx Mr. Franklin or his dependents by virtue of the provisions of Paragraph provisixxx xx Xxxxxxaph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Franklin shall be entitled to receive cash in an amount equal to the axxxxx xxxxx xx xxx Company's and Xx. Xxxxxx'x Mr. Franklin's cost of premiums for three (3) years of coverage under xxxxxxxx xxxxr the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Bowden meets the eligibility requirements of Paragraph 2.(aParagrapx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Bowden shall be eligible to participate in the Companytxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Bowden's Years of Service, not to exceed five fivx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Bowden elects to receive this extended medical coveragemedicxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Bowden's Termination 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 Xx. Xxxxxx'x Mr. Bowden's extended medical coverage under this Paragraph thix Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Bowden pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Bowden in connection with such coverage shall covexxxx xxxxx 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 Xx. Xxxxxx Mr. Bowden in connection with this extended coverage extexxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Bowden or his dependents may elect. In the event that Xx. Xxxxxx exxxx xxxx Mr. Bowden or his dependents become eligible to be coveredxx xxxxxxx, 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Bowden or his dependents by virtue of the provisions of prxxxxxxxx xf Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Bowden shall be entitled to receive cash in an amount xx xxxxxx equal to the Company's and Xx. Xxxxxx'x Mr. Bowden's cost of premiums for three (3) years of coverage yearx xx xxxxxxxx under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Klappa meets the eligibility requirements of requixxxxxxx xx Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Klappa shall be eligible to participate in the Companyxxx Xxxxany's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Klappa's Years of Service, not to exceed five xxxx (50) yearsxxxrs. If Xx. Xxxxxx Mr. Klappa elects to receive this extended medical coveragemexxxxx xxxxrage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Klappa's Termination 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 Xx. Xxxxxx'x Mr. Klappa's extended medical coverage under this Paragraph xxxx Xxxxxxxph 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Klappa pursuant to Paragraph 2.(c)(i2.(c)(x), as well as the xx xxxx xx xxx premiums to be paid by Xx. Xxxxxx Mr. Klappa in connection with such coverage shall be coverxxx xxxxx xe 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 Xx. Xxxxxx Mr. Klappa in connection with this extended coverage extendxx xxxxxxxx shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Klappa or his dependents may elect. In the event xxx xxxxx that Xx. Xxxxxx Mr. Klappa or his dependents become eligible to be eligiblx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Klappa or his dependents by virtue of the provisions txx xxxxxxions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Klappa shall be entitled to receive cash in an amount cxxx xx xx xmount equal to the Company's and Xx. Xxxxxx'x Mr. Klappa's cost of premiums for three (30) years of coverage xxxxx xx xxxxxxxx under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. Ratcliffe meets the eligibility requirements of Paragraph 2.(aParagxxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Ratcliffe shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Ratcliffe's Years of Service, not to exceed five xxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. Ratcliffe elects to receive this extended medical coveragemexxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Ratcliffe's Termination Date (and for such other dependents xxxxxxxxxx as may be entitled to coverage under the provisions of the Health Insurance Portability and Accountability Act of 1996) for the duration of Xx. Xxxxxx'x Mr. Ratcliffe's extended medical coverage under this Paragraph 2.xxxx Xxxxxxxxx 2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Ratcliffe pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. Ratcliffe in connection with such coverage shall cxxxxxxx xxxxx 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 Xx. Xxxxxx Mr. Ratcliffe in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Ratcliffe or his dependents may electelexx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. Ratcliffe or his dependents become eligible to be xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Ratcliffe or his dependents by virtue of the provisions virtxx xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Ratcliffe shall be entitled to receive cash in an recexxx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. Ratcliffe's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Mr. Ratcliffe meets the eligibility requirements of Paragraph 2.(aPaxxxxxxx 0.(x) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. Ratcliffe shall be eligible to participate in the xhe Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. Ratcliffe's Years of Service, not to exceed five xx xxxxxx xxxx (5) years. If Xx. Xxxxxx Mr. Ratcliffe elects to receive this extended medical exxxxxxx xxxxxal coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. Ratcliffe's Termination 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 Xx. Xxxxxx'x Mr. Ratcliffe's extended medical coverage under this coverxxx xxxxx xxxx Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. Ratcliffe pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx Mr. Ratcliffe in connection with such coverage wxxx xxxx xxxxrage 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 Xx. Xxxxxx Mr. Ratcliffe in connection with this extended wxxx xxxx xxxxnded coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. Ratcliffe or his dependents may electdependenxx xxx xxxxx. In the event that Xx. Xxxxxx Mr. Ratcliffe or his dependents become eligible to be dependenxx xxxxxx xxxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. Ratcliffe or his dependents by virtue of the dependenxx xx xxxxxx xx xxx provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. Ratcliffe shall be entitled to receive cash in xx an amount equal to the Company's and Xx. Xxxxxx'x Mr. Ratcliffe's cost of premiums for three txxxx (30) years xxxxx of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx Mr. DeNicola meets the eligibility requirements of Paragraph 2.(aParagrxxx 0.(x) hereof xxreof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx Mr. DeNicola shall be eligible to participate in the Companyxxx Xxxxxxx's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Mr. DeNicola's Years of Service, not to exceed five fxxx (50) yearsxxxxx. If Xx. Xxxxxx Mr. DeNicola elects to receive this extended medical coveragemedxxxx xxxxxxxe, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Mr. DeNicola's Termination 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 Xx. Xxxxxx'x Mr. DeNicola's extended medical coverage under this Paragraph txxx Xxxxxxxxx 2.
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Mr. DeNicola pursuant to Paragraph 2.(c)(i), as well xxxl as the premiums to be paid by Xx. Xxxxxx Mr. DeNicola in connection with such coverage shall coxxxxxx xxxxx 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 Xx. Xxxxxx Mr. DeNicola in connection with this extended coverage exxxxxxx xxxxxage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx Mr. DeNicola or his dependents may electelecx. In the event Xx xxx xxent that Xx. Xxxxxx Mr. DeNicola or his dependents become eligible to be exxxxxxx xx xx 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 Company's Group Health Plan available to Xx. Xxxxxx Mr. DeNicola or his dependents by virtue of the provisions virtux xx xxx xxxvisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Mr. DeNicola shall be entitled to receive cash in an receixx xxxx xx xn amount equal to the Company's and Xx. Xxxxxx'x Mr. DeNicola's cost of premiums for three (3) years of xxxxx xf coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
Welfare Benefits. If Xx. Xxxxxx Executive meets the eligibility ----------------- requirements of Paragraph 2.(aSection 2(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, or other plans providing such benefits to similarly situated employees who retire, he shall be entitled to the benefits set forth in this Paragraph 2.(cSection 2(c).
(i) Xx. Xxxxxx Executive shall be eligible to participate in the Company's Group Health PlanPlan 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 Termination Date unless otherwise specifically provided under such plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx Executive elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Executive's Termination 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 Xx. Xxxxxx'x Executive's extended medical coverage under this Paragraph 2.
(iSection 2(c)(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx Executive pursuant to Paragraph 2.(c)(iSection 2(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx Executive in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(iSection 2(c)(i) shall be a part in lieu of and not in addition to any COBRA Coverage which XxExecutive or his dependent may elect. Xxxxxx Executive or his dependents may electmust waive COBRA coverage under the Group Health Plan as a condition precedent to receiving extended medical coverage pursuant to this Section 2(c). In the event that Xx. Xxxxxx Executive or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx Executive or his dependents by virtue of the provisions of Paragraph 2.(c)(iSection 2(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx Regardless of whether Executive elects the extended coverage described in Section 2(c)(i) hereof, he shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x Executive's cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Welfare Benefits. If Xx. Xxxxxx meets the eligibility requirements of Paragraph 2.(a) hereof and is not otherwise eligible to receive retiree medical and life insurance benefits provided to certain retirees pursuant to the terms of the Pension Plan, the Group Health Plan and the Group Life Insurance Plan, he shall be entitled to the benefits set forth in this Paragraph 2.(c).
(i) Xx. Xxxxxx shall be eligible to participate in the Company's Group Health Plan, upon payment of both the Company's and his monthly premium under such plan, for a period of six (6) months for each of Xx. Xxxxxx'x Years of Service, not to exceed five (5) years. If Xx. Xxxxxx elects to receive this extended medical coverage, he shall also be entitled to elect coverage under the Group Health Plan for his dependents who were participating in the Group Health Plan on Xx. Xxxxxx'x Termination 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 Xx. Xxxxxx'x extended medical coverage under this Paragraph 2.2.(c)
(i) to the extent such dependents remain eligible for dependent coverage under the terms of the Group Health Plan.
(A) The extended medical coverage afforded to Xx. Xxxxxx pursuant to Paragraph 2.(c)(i), as well as the premiums to be paid by Xx. Xxxxxx 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 Xx. Xxxxxx in connection with this extended coverage shall be due on the first day of each month; provided, however, that if he fails to pay his premium within thirty (30) days of its due date, such extended coverage shall be terminated.
(B) Any Group Health Plan coverage provided under Paragraph 2.(c)(i) shall be a part of and not in addition to any COBRA Coverage which Xx. Xxxxxx or his dependents may elect. In the event that Xx. Xxxxxx or his dependents become 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 Company's Group Health Plan available to Xx. Xxxxxx or his dependents by virtue of the provisions of Paragraph 2.(c)(i) shall terminate, except as may otherwise be required by law, and shall not be renewed.
(ii) Xx. Xxxxxx shall be entitled to receive cash in an amount equal to the Company's and Xx. Xxxxxx'x cost of premiums for three (3) years of coverage under the Group Health Plan and Group Life Insurance Plan in accordance with the terms of such plans as of the date of the Change in Control.
Appears in 1 contract
Samples: Change in Control Agreement (Savannah Electric & Power Co)
