Insurance Continuation Period definition

Insurance Continuation Period means (i) the Salary Continuation Period (as defined in Paragraph 5.4(a) above) or (ii) the period ending on the date on which Executive obtains employment with another employer that makes group health insurance available to him and his dependents, whichever is shorter. Each premium payment shall be paid when due and shall be considered a separate payment for purposes of Section 409A of the Code.
Sample 1
Insurance Continuation Period means the shorter of (i) the period Executive remains eligible for COBRA arising from his separation from the Company, or (ii) the date that is eighteen (18) months after the Employment Resignation Date, provided, however, that if, prior to the end of the Insurance Continuation Period, Executive obtains other employment which makes health insurance available to him, the Company’s obligation to pay such COBRA premiums shall thereupon cease.
Sample 1
Insurance Continuation Period means a period (i) of twenty-four (24) months following such termination of employment or (ii) ending on the date on which Executive obtains employment with another employer that makes health insurance available to him and his dependents (“Alternative Insurance Coverage”), whichever is shorter. In the event that Executive’s COBRA eligibility period expires prior to the end of the Insurance Continuation Period (other than by reason of his obtaining Alternative Insurance Coverage), the Company shall procure and pay 100% of the premiums for comparable health insurance coverage for Executive and his dependents for the then remainder of the Insurance Continuation Period. Executive agrees that if he obtains Alternative Insurance Coverage from another employer prior to the expiration of the above-mentioned 24-month period, he shall promptly notify the Company thereof. Each premium payment shall be paid when due and shall be considered a separate payment for purposes of Section 409A of the Code.
Sample 1

Examples of Insurance Continuation Period in a sentence

  • In the event that Executive’s COBRA eligibility period expires prior to the end of the Insurance Continuation Period (other than by reason of his obtaining Alternative Insurance Coverage), the Company shall procure and pay 100% of the premiums for comparable health insurance coverage for Executive and his dependents for the then remainder of the Insurance Continuation Period.

  • The Medical Benefit Payments shall be paid to Executive in installments on the same schedule that the Medical Insurance Continuation Benefit would otherwise have been paid to Executive and shall be paid until the expiration of the Insurance Continuation Period.

  • Upon a timely election of the continuation coverage under COBRA by Executive, the Medical Insurance Continuation Benefit for the Insurance Continuation Period as set forth in Section 5.4(b) above.

  • You and IHS Markit shall be responsible for payment of their respective shares of the premium for these Health Benefits through the end of the Insurance Continuation Period, and the portion of the premium paid by IHS Markit shall be treated as taxable income and subject to applicable tax withholdings at the time the premium is paid.

  • Upon a timely election of the continuation coverage under COBRA by Executive, the Medical Insurance Continuation Benefit for the Insurance Continuation Period as set forth in Section 5.3(b) above.

  • You may elect COBRA coverage on a self-pay basis at the conclusion of the Insurance Continuation Period, provided you remain eligible for COBRA coverage.

  • Upon a timely election of the continuation coverage under COBRA by Executive, the Medical Insurance Continuation Benefit for the duration of the Insurance Continuation Period as set forth in Section 5.4(b) above.

  • In the event that the Executive’s continued participation in any group plans and programs is not permitted, then in lieu thereof, the Company shall acquire, with the same cost sharing, individual insurance policies providing comparable coverage for the Executive for the Extended Insurance Continuation Period; provided, that the Company shall not be obligated to pay for any such individual coverage more than three (3) times the Company’s cost of such group coverage.

  • If Executive ceases to be employed as Chief Executive Officer by the Company due to the expiration of this Employment Agreement on June 30, 2011, then upon Executive’s timely election of continuation coverage under COBRA, the Company will pay fifty percent (50%) of Executive’s COBRA premiums for the medical insurance coverage as in effect on the day immediately preceding the expiration of this Agreement for the entire Insurance Continuation Period (as defined in Section 4.1 above).

  • Upon Executive’s timely election of continuation coverage under COBRA, for the period hereinafter specified (the “Insurance Continuation Period”), the Company will pay one hundred percent (100%) of Executive’s COBRA premiums for the medical insurance coverage as in effect on the day immediately preceding the effective date of such termination without Cause for the entire Insurance Continuation Period.


More Definitions of Insurance Continuation Period

Insurance Continuation Period means the shorter of (i) twenty-four (24) months following such termination of employment (ii) the date on which Executive obtains employment with another employer that makes health insurance available to him and his dependents (“Alternative Insurance Coverage”). In the event that Executive’s COBRA eligibility period expires prior to the end of the Insurance Continuation Period (other than by reason of his obtaining Alternative Insurance Coverage), the Company shall procure and pay 100% of the premiums for comparable health insurance coverage for Executive and his dependents for the then remainder of the Insurance Continuation Period. Executive agrees that if he obtains Alternative Insurance Coverage from another employer prior to the expiration of the above-mentioned 24 month period, he shall promptly notify the Company thereof. Each premium payment shall be paid when due and shall be considered a separate payment for purposes of Section 409A of the Code.
Sample 1
Insurance Continuation Period means the shorter of (i) the Salary Continuation Period, as defined in Section 5.4(a) above, or (ii) the period ending on the date Executive obtains employment with another employer that makes group health insurance available to him and his dependents. Notwithstanding the foregoing, if the Company determines that it cannot provide the Medical Insurance Continuation Benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, the Patient Protection and Affordable Care Act of 2010, as amended (the “ACA”)), the Company shall, in lieu thereof, pay Executive taxable cash amounts equal to the Medical Insurance Continuation Benefit, which payments shall be made whether or not the Executive or Executive’s eligible dependents elect COBRA continuation coverage or pay premiums for continued COBRA coverage (the “Medical Benefit Payments”), provided that such Payments shall be made solely if and to the extent permitted under the ACA and related administrative guidance. The Medical Benefit Payments shall be paid to Executive in installments on the same schedule that the Medical Insurance Continuation Benefit would otherwise have been paid to Executive and shall be paid until the expiration of the Insurance Continuation Period. Each payment under this Section 5.4(b) shall be paid when due and shall be considered a separate payment for purposes of Section 409A of the Code.”
Sample 1

Related to Insurance Continuation Period

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.

  • insurance period means a contribution period or an equivalent period;

  • Continuation Coverage means the temporary continuation of PEBB benefits available to enrollees under the Consolidated Omnibus Budget Reconciliation Act (COBRA), 42 U.S.C. Secs. 300bb-1 through 300bb-8, the Uniformed Services Employment and Reemployment Rights Act (USERRA), 38 U.S.C. Secs. 4301 through 4335, or the public employees benefits board's policies.

  • Continuation Date means any date on which Borrower continues a LIBOR Advance into another Interest Period.

  • COBRA Continuation Coverage means the health care benefit continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act and similar provisions of state law.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • COBRA continuation provision means any of the following:

  • Extended benefit period means a period which:

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

  • Continuation Notice as defined in Section 2.17(a).

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Premium Payment Term means the term specified in the Schedule, during which the Premiums are payable by You;

  • Lease Termination Date means the last day of the Lease Term.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Termination Date Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.