Benefits incurred definition
Examples of Benefits incurred in a sentence
The Contribution Amount will be reduced by the amount of (i) non-pension retiree benefit claims incurred by the Company for Union Retirees on and after July 1, 2007 and (ii) any LTD Benefits incurred by the Company on behalf of Union Disableds on and after July 1, 2007.
Benefits incurred during the previous term of the previous Employment Agreement will not be reduced by this Agreement.
Subject to and in accordance with the Trust Agreement, the Trustees shall be responsible for claims for Benefits incurred by Beneficiaries up to the Termination Date, but shall have no liability for any claims for Benefits incurred after the Termination Date by Beneficiaries.
Consequently, Covered Benefits incurred by the dependent will not contribute towards the family deductible and Out-of-Pocket Maximums, nor will family incurred expenses contribute towards the Over-Age Dependent’s deductibles or Out-of-Pocket Maximums.
The Trustees shall have no liability to pay any claims for Benefits incurred by CAEAS/ECAB Participants or CAEAS/ECAB Retirees, as applicable, after the Termination Date.
In addition, Medical Mutual shall have the right, but not the obligation, in its sole discretion to immediately take one or more of the following actions without any further notice to Employer in the event of untimely payments for fees provided in the applicable Addenda or fees included in the Employer’s medical premium or administrative fees: (i) stop processing Covered Benefits incurred on or after that date; or (ii) terminate the Agreement in accordance with the provisions of Article VI.
In addition, Medical Mutual shall have the right, but not the obligation, in its sole discretion to immediately take one or more of the following actions without any further notice to Employer in the event of untimely payments for fees provided in Addendum I or fees included in the Employer’s medical premium or administrative fees: (i) stop processing Covered Benefits incurred on or after that date; or (ii) terminate the Agreement in accordance with the provisions of Article VI.
I acknowledge and agree to repay any portion of the Relocation Benefits incurred by the Company and the Sign On Bonus due to the Company as provided herein no later than 30 business days following my last day of employment.
If ▇▇▇▇▇▇' employment with the Company terminates for whatever reason, the Company will pay ▇▇▇▇▇▇ (i) any accrued and unpaid Base Salary and pro-rated Minimum Bonus as of the date of termination, (ii) the payment or reimbursement of all unpaid Benefits incurred up to the date of termination, and (iii) an amount to reimburse ▇▇▇▇▇▇ for any and all monies advanced or expenses incurred on or prior to the date of termination but not paid to ▇▇▇▇▇▇.
If the Participant dies with a vested, positive account balance in any Participant Account, his or her surviving spouse, if any, may file claims for Qualified Health Care Benefits incurred by the Participant and any Dependents until such account balance is exhausted.