Medical Continuation Benefits definition

Medical Continuation Benefits has the meaning assigned thereto in Section 4(c) hereof.
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Medical Continuation Benefits means continuation coverage under the Company’s major medical, dental and vision plans (collectively, the “Medical Plan”) for Employee and Employee’s spouse and dependents consistent with the level of coverage otherwise in effect as of Employee’s termination date for the period beginning on Employee’s termination date and ending on the earlier of (I) twelve (12) months after Employee’s termination date or (II) the date on which Employee, Employee’s spouse or Employee’s dependents obtains comparable alternative group coverage during the twelve (12) months after Employee’s termination (such period being referred to as the “Continuation Period”), at Employee’s sole expense, and for each year (or portion thereof) during the Continuation Period, the Company shall pay to Employee an amount such that, after the payment of all income and employment taxes due with respect to such amount, there remains an amount equal to the Company’s premium contribution paid with respect to its similarly-situated active employees for the level of coverage provided to Employee and Employee’s spouse and Employee’s dependents under the Medical Plan during the portion of the Continuation Period within such year. Any payments to be made to Employee pursuant to the preceding sentence shall be made no earlier than the Release Date (and only if the Release Requirements are satisfied as of the Release Date) and no later than March 15 of the year following the year to which they relate. The Medical Continuation Benefits shall not be deemed to offset or otherwise limit the period of continuation coverage otherwise available to Employee and Employee’s spouse or Employee’s dependents under section 4980B of the Code which shall be deemed to commence following the end of the Continuation Period and shall be provided at Employee’s sole expense. As used in this Agreement, the term “earned but unpaid Annual Bonus” shall refer to the non-discretionary portion of the Annual Bonus to which Employee would have been entitled had Employee remained employed in Employee’s position for the remainder of the fiscal year of termination and through the payment date for such Annual Bonus, prorated for the number of days during such year that Employee was employed by the Company. In no event shall Employee be permitted to elect the year of payment of any amount under this Section 2(a)(ii).
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Medical Continuation Benefits has the meaning assigned thereto in Section 4(c) hereof. “Notice of Termination” has the meaning assigned thereto in Section 2(a) hereof. “Payment” has the meaning assigned thereto in Section 8(a) hereof. “Payment in Lieu of Notice” has the meaning assigned thereto in Section 2(b) hereof. “Person” means any person, entity or “group” within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, except that such term shall not include (1) Sempra Energy or any of its Affiliates, (2) a trustee or other fiduciary holding securities under an employee benefit plan of Sempra Energy or any of its Affiliates, (3) an underwriter temporarily holding securities pursuant to an offering of such securities, (4) a corporation owned, directly or indirectly, by the shareholders of Sempra Energy in substantially the same proportions as their ownership of stock of Sempra Energy, or (5) a person or group as used in Rule 13d-1(b) under the Exchange Act. “Post-Change in Control Severance Payment” has the meaning assigned thereto in Section 5 hereof. “Pre-Change in Control Severance Payment” has the meaning assigned thereto in Section 4 hereof. “Principal Location” has the meaning assigned thereto in clause (b)(iii) of the definition of Good Reason, above. “Proprietary Information” has the meaning assigned thereto in Section 14(a) hereof. “Pro Rata Bonus” has the meaning assigned thereto in Section 5(b) hereof. “Release” has the meaning assigned thereto in Section 4 hereof. “Section 409A Payments” means any payments under this Agreement which are subject to Section 409A of the Code. “Sempra Energy Control Group” means Sempra Energy and all persons with whom Sempra Energy would be considered a single employer under Section 414(b) or 414(c) of the Code, as determined from time to time. “Separation from Service” has the meaning set forth in Treasury Regulation Section 1.409A-1(h). “SERP” has the meaning assigned thereto in Section 5(c) hereof. “Specified Employee” shall be determined in accordance with Section 409A(a)(2)(B)(i) of the Code and Treasury Regulation Section 1.409A-1(i). For purposes of this Agreement, references to any “Treasury Regulation” shall mean such Treasury Regulation as in effect on the date hereof. Section 2.
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Examples of Medical Continuation Benefits in a sentence

  • Any Medical Continuation Benefits provided pursuant to this Section 4(c) shall be co-extensive with (and not in addition to) any benefits to which the Executive (and the Executive’s covered dependents) may be entitled under COBRA or similar provisions of applicable state law.

  • Any Medical Continuation Benefits provided pursuant to this Section 5(c) shall be co-extensive with (and not in addition to) any benefits to which the Executive (and the Executive’s covered dependents) may be entitled under COBRA or similar provisions of applicable state law.

Related to Medical Continuation Benefits

  • 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.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Employment benefits means all benefits provided or made

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Change in Control Benefits means the following benefits:

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

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