Benefit Continuation definition

Benefit Continuation means, subject to the continued co-payment of premiums by the Executive, the continued participation for the Executive and his or her eligible dependents in the Company’s Benefit Plans, upon the same terms and conditions in effect from time to time for active employees of the Company, as determined in good faith by the Company.

Benefit Continuation means the continuation of benefits set forth in Article III.B of this Plan during the Senior Officer’s Benefit Continuation Period.

Benefit Continuation means coverage for 18 months under the medical, dental, prescription and vision plans at the coverage elections in place just prior to termination of employment, but only to the extent comparable coverage is not provided by any new employer. Any increase in premium cost resulting from a change in your coverage election shall be borne by you. In order to receive such continued health benefits coverage, you must be eligible for and elect continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") under the terms of the applicable program for the first 18 months of such coverage, and such coverage shall be "alternative coverage" for purposes of COBRA.

Examples of Benefit Continuation in a sentence

• In addition, Executive shall have the right to continue to exercise any outstanding vested stock options held by Executive during the Benefit Continuation Period; provided that in no event shall Executive be entitled to exercise any such option beyond the original expiration date of such option.

• Any outstanding restricted stock award held by Executive as of the Date of Termination that would have vested during the Benefit Continuation Period had Executive remained an employee of the Company through the end of such period shall be immediately vested as of the Date of Termination and any restricted stock award that would not have vested as of the conclusion of such period shall be immediately cancelled and forfeited as of such date.

• The Executive’s entitlement to COBRA continuation coverage under Section 4980B of the Code (“COBRA Coverage”) shall not be offset by the provision of benefits under this Section 5(a)(2) and the period of COBRA Coverage shall commence at the end of the Benefit Continuation Period.

• Following the Benefit Continuation Period, Employee shall be entitled to receive continuation coverage under Part 6 of Title I of ERISA (“COBRA Benefits”) by treating the end of this period as the applicable qualifying event (i.e., as a termination of employment) for purposes of ERISA Section 603(2)) and with the concurrent loss of coverage occurring on the same date, to the extent allowed by applicable law.

• The City’s policies regarding Benefit Continuation (COBRA) is set forth in and controlled by the City’s Civilian Employee Personnel Policy Handbook.

More Definitions of Benefit Continuation

Benefit Continuation has the meaning set forth in Section 2.01(c).

Benefit Continuation means the continued participation for Executive and his eligible dependents in the Company Group’s medical and dental benefit plans, via an effective election by Executive under COBRA.

Benefit Continuation means that the Company shall maintain in full force and effect, for the continued benefit of the Executive and his dependents for a period equal to the greater of (x) the remaining period of the then current Term without giving effect to such termination or (y) two (2) years, all employee insurance benefit plans and programs to which the Executive was entitled prior to the Date of Termination (including, without limitation, the health, dental, vision, life and other voluntary insurance programs, but specifically excluding any company paid disability plan or program provided by the Company) if the Executive's continued participation is permissible under the general terms and provisions of such plans and programs and the Executive continues to pay all applicable premiums. In the event that the Executive's participation in any health, medical or life insurance plan or program is barred, the Company shall obtain and pay for, on the Executive's behalf, individual insurance plans, policies or programs which provide to the Executive health, medical, and life insurance coverage which is equivalent to the insurance coverage to which the Executive was entitled prior to the Date of Termination.

Benefit Continuation means, subject to the continued co-payment of premiums by the Employee, the

Benefit Continuation means continuing coverage for a Participant and, where applicable, the Participant's covered spouse and covered eligible dependents under each of the Company's group health and group life insurance plans for such period following the termination of the Participant's employment with the Company and its Affiliates as is specified in Section 5 or 6 herein with respect to such termination of employment (or, if sooner, until corresponding coverage is obtained under a successor employer's plan) at the same benefit and contribution levels in effect immediately prior to such termination of employment or, to the extent not permitted by the plan or by applicable law, cash payments sufficient to enable the Participant and/or the Participant's covered spouse and covered eligible dependents, on an after tax basis, to obtain comparable individual coverage through the end of such period. The continuing group health plan coverage component of a Participant's Benefit Continuation will be made available in addition to and not in lieu of COBRA continuation coverage.

Benefit Continuation. Provided that you have elected health care continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Company shall also pay you an amount equal to the monthly amount of your COBRA coverage premium. The Benefit Continuation payments shall be made once a month until the Termination Date, unless terminated earlier pursuant to Section 2(c) below.

Benefit Continuation has the meaning set forth in Section 4(b)(i).