Benefits Continuation means for the referenced period of time following the date of Executive's termination of employment with the Company or determination of Disability, that the Company shall provide or otherwise make available to Executive, an election (with respect to health and/or dental coverage under the Company's group health plan or under continuation coverage provisions of ERISA and the Code or under an individual paid plan) to ensure continued health insurance coverage either individually or under the Company's health, dental or other benefit plans and term life insurance benefit (collectively, the "Continuation Plans") on not less than the same terms and conditions as previously were in place for Executive. The cost to Executive of including Executive, his spouse and his dependents in any Continuation Plans shall be no more than that previously paid by the Executive and may be deducted from any regular payments made to Executive under this Agreement. If at any time, the Company is precluded by the terms of any of the Continuation Plans from providing such coverage to Executive, his spouse, or his dependents, for reasons to be beyond the control of the Company, such coverage shall be provided by any other available means and the Executive, his spouse and his dependents shall be entitled to continuation of coverage pursuant to any statutory rights Executive, his spouse or his dependents may then have under the group health plan continuation coverage provisions of ERISA and the Code, or otherwise, at the Company's expense. The prior provisions notwithstanding, the right of Executive, his spouse or dependents, to coverage as provided by the group health plan continuation coverage provisions of ERISA and the Code or otherwise shall be deemed to run concurrently with the continuation of health and/or dental benefits under the first sentence of this paragraph. Any expense incurred by Executive, legal or otherwise, incurred to enforce this or other provision of this Agreement, shall be paid by the Company.
Benefits Continuation means that the Company shall reimburse a Participant for the difference between the monthly COBRA premium (other than for health flexible savings account coverage) paid by such Participant for Participant and Participant’s dependents and the monthly premium amount for such group health plan coverage paid by similarly situated active executives of the Company. For the avoidance of doubt, if the Participant is not covered under the medical, dental and/or vision portions of the Company’s group health plan as of the date of termination, then he or she is ineligible for Benefits Continuation.
Benefits Continuation means the continuation of medical, dental and vision benefits that are provided, as described in Section III.
Examples of Benefits Continuation in a sentence
Subject to the provisions of any other agreement between the Employee and the Company, the Employee shall remain an employee at will and nothing herein shall confer upon the Employee any right to continued employment and shall not affect the right of the Company to terminate the Employee for any reason not prohibited by law; provided, however, that any such removal shall be without prejudice to any rights the Employee may have to Salary and Benefits Continuation hereunder.
Refer to the Benefits Continuation (COBRA) policy for more information.
Notwithstanding the above, in the event the Executive becomes eligible for health insurance benefits from a new employer during the Benefits Continuation Period, the Company’s obligations under this Section 3(e) shall immediately cease and the Executive shall not be entitled to any additional monthly premium payments for health insurance coverage.
Similarly, in the event the Executive becomes eligible for dental insurance benefits from a new employer during the Benefits Continuation Period, the Company’s obligations under this Section 3(e) shall immediately cease and the Executive shall not be entitled to any additional monthly premium payments for dental insurance.
Refer to the Benefits Continuation (COBRA) Policy for more information.
More Definitions of Benefits Continuation
Benefits Continuation means the continuation of a Participant’s healthcare coverage in accordance with applicable law.
Benefits Continuation means the continuation of medical, dental and life benefits that are paid over the Salary Continuation Period, as described in Section III.
Benefits Continuation means that the Company shall reimburse a Participant for the difference between the monthly COBRA premium paid by such Participant for Participant and Participant’s dependents and the monthly premium amount for such group health plan coverage paid by similarly situated active employees of the Company.
Benefits Continuation means [eighteen months (for chief executive officer); twelve months (for all executives other than chief executive officer)] ([12 / 18]) months of continued participation by Executive and Executive's spouse and dependents in the Company's group benefits plans, during which time the Company shall pay that portion of the premiums that the Company paid on behalf of Executive and Executive's spouse and dependents during Executive's employment; provided, however, that if the Company's health insurance plan does not permit such continued participation in such plan after Executive's termination of employment, then the Company shall pay the monthly costs of COBRA continuation coverage on behalf of Executive and Executive's spouse and dependents for such [12 / 18]-month period up to that monthly amount that equals the portion of the premiums paid by Executive on behalf of Executive and Executive's spouse and dependents immediately prior to the termination of employment; and provided, further, that if Executive becomes employed with another employer during the period in which continued health insurance is being provided pursuant to this Agreement, the Company shall not be required to continue such health benefits, or if applicable, to pay the costs of COBRA, if Executive becomes covered under a health insurance plan of the new employer.
Benefits Continuation means the continuation of medical, dental and vision benefits that are provided over the Severance Continuation Period, as described in Section III.
Benefits Continuation. If all or part of the Termination Payment is made by way of continuation of the Executive's Base Pay, the Executive's pension and group benefits will continue until the earlier (a) the last day of continuation of the Executive's Base Pay, to the extent permitted by the plan terms and the insurer; or (b) the date that the Executive obtains replacement coverage for such benefits from new employment, provided that in any case benefits will continue for at least the minimum period mandated by the Ontario Employment Standards Act.
Benefits Continuation is defined as Company reimbursement of the COBRA premiums for continuation of the Company group health plan coverage for yourself and your eligible dependents that was in effect as of the date of your termination; provided, however, that such reimbursement shall terminate if and to the extent you become eligible to receive group health coverage from a subsequent employer (and any such eligibility shall be promptly reported to the Company). Notwithstanding the foregoing, if reimbursement of COBRA premiums hereunder would violate the Patient Protection and Affordable Care Act of 2010, the parties agree to reform this as necessary to comply with said law and the regulations issued thereunder.