Continued Medical Benefits definition

Continued Medical Benefits means the Company’s direct provision of coverage, or payment of insurance premiums to a third-party insurer, in whole or in part, whether pursuant to the Plan or otherwise, for cost of medical, dental or vision insurance coverage for the Participant or the Participant’s family members, where such premium or coverage is paid by the Company after the Participant’s termination of employment with the Company and such premium or coverage covers a period extending beyond such termination of employment. For the purposes of the preceding sentence, a wholly or partially self-insured plan or arrangement maintained by the Company shall be considered insurance coverage. For example, the benefits pursuant to Section 4(b)(ii) shall constitute Continued Medical Benefits.
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Continued Medical Benefits means Nuvelo’s direct payment or reimbursement, in whole or in part, whether pursuant to the Plan or otherwise, of the premium cost of medical, dental, or vision insurance coverage for the Participant or the Participant’s family members, where such premium is paid by Nuvelo after the Participant’s termination of employment with Nuvelo and such premium covers a period extending beyond such termination of employment. For the purposes of the preceding sentence, a wholly or partially self-insured plan or arrangement maintained by Nuvelo shall be considered insurance coverage. For example, the benefits pursuant to Sections 5(c) and 6(d) shall constitute Continued Medical Benefits.
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Continued Medical Benefits means the Nuvelo’s contributions toward the cost of continuation coverage under COBRA as provided under Sections 5(c) and 6(d).
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Examples of Continued Medical Benefits in a sentence

  • In the event Executive elects not to extend the Employment Term, Executive shall be entitled to receive the Accrued Rights and the Continued Medical Benefits.

  • Employers’ obligation to (x) make the Termination Payment and either the Target Pro Rata Incentive Payment or Actual Pro Rata Incentive Payment and (y) provide the Continued Medical Benefits shall, in each case, be conditioned upon: (i) Executive’s continued compliance with his obligations under the Noncompetition Agreement and (ii) Executive’s execution, delivery and non-revocation of a valid and enforceable general release of claims in a form reasonably acceptable to Employers (the “Release”).

  • In the event that Executive breaches any of the covenants set forth in the Noncompetition Agreement, Executive shall (i) immediately return to Employers any portion of the Termination Payment and either the Target Pro Rata Incentive Payment or Actual Pro Rata Incentive Payment that have been paid to Executive pursuant to this Section 5(b) and (ii) repay Employers for any costs incurred in connection with providing the Continued Medical Benefits.