Other Insurance Benefits definition

Other Insurance Benefits means the group life insurance, key man life insurance and long-term disability insurance benefits to be provided pursuant to Section 7(a) or Section 7(b) of this Agreement for the benefit of the Employee and his dependents and beneficiaries who would have been eligible for such benefits if the Employee had not suffered an Involuntary Termination in the event such benefits were provided immediately prior to the Date of Termination, with (i) such benefits to be provided on the same terms as if the Employee had continued to remain employed as an executive officer of the Company and the Bank, (ii) such benefits to be provided until the expiration of the time period set forth in Section 7(a) or 7(b) of this Agreement as applicable (the “Coverage Period”) or the Employee’s death, whichever occurs first, and (iii) the Company or the Bank to pay 100% of the premiums for such continued insurance coverage; provided, however, that in the event that the continued participation of the Employee in any insurance plan specified above is barred, or during the Coverage Period any such insurance plan is discontinued, then the Company and the Bank shall at their election either (A) arrange to provide the Employee with alternative benefits substantially similar to those which the Employee was entitled to receive under such insurance plan immediately prior to the Date of Termination, or (B) in the event such continued coverage is unable to be provided by the Company or the Bank, pay to the Employee within 30 days following the Date of Termination (or within 30 days following the discontinuation of the benefits if later) a lump sum cash amount equal to the projected cost to the Company and the Bank of providing continued coverage to the Employee until the expiration of the Coverage Period, with the projected cost to be based on the costs being incurred immediately prior to the Involuntary Termination (or the discontinuation of the benefits if later), as increased by 15% on each scheduled renewal date. Any insurance premiums payable by the Company or the Bank as specified above shall be payable at such times and in such amounts (except that the Company or the Bank shall also pay any employee portion of the premiums) as if the Employee was still an employee of the Company or its Consolidated Subsidiaries, subject to any increases in such amounts imposed by the insurance company, and the amount of insurance premiums required to be paid by the Company or the Bank in any taxable yea...
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Examples of Other Insurance Benefits in a sentence

  • Other Insurance Benefits The School District provides life insurance and accidental death and dismemberment insurance to all regular employees through Medical Life Insurance Company in the amount of $20,000 per employee, with administrative personnel being provided $50,000 of coverage.

  • Other Insurance Benefits All employees are covered under a $20,000 life insurance policy through Fort Dearborn Life Insurance except corrections officers, police officers (including sergeants, lieutenants, and captains), fire lieutenants, and assistant fire chiefs.

  • LNAA does not offer short-term disability as compared with four of the five respondents.Figure 3.6 – Other Insurance Benefits Offered Leave BenefitsLNAA offers its employees paid leave through vacation, sick leave, personal time off, holidays, bereavement and other standard time off programs.

  • Ordinance No. 10751 relating to Pensions and Retirement: Tucson Code Chapter 22, Pensions, Retirement, Group Insurance, Leave Benefits and Other Insurance Benefits, Article I, In General; adding Section 22-1, Contribution to Public Safety Personnel Retirement System; and declaring an emergency.

  • Highlights the opposition of telecom Industries over the guidelines set by ICNIRP to protect the public from electromegnetic radiation from cell phones.

  • Health and Other Insurance Benefits ● Employee may elect COBRA continuation coverage under the Company group health or other insurance benefit plans, to the extent permitted under the applicable plan terms and COBRA.

  • Other Insurance Benefits: If an insured person is entitled to any medical or Major Medical benefits or services from another source, such benefits under this plan may be reduced to an amount, which together with all such other benefits will not exceed 100% of any necessary, reasonable and customary item of expense covered under this Plan or any such other Plan.

  • The following subcommittees were established: ❖ Dental Benefits – Chair, Wendy Williamson ❖ Retiree Benefits – Chair, Gavin Watt ❖ Life & Other Insurance Benefits – Chair, Larry Thompson ❖ Wellness – Chair, Linda Aaker PROPOSED ’01-’02 BENEFITS ADVISORY COMMITTEE TIMELINE: Between October and November 1, 2001 – create concepts by deciding what should be done differently and what should be done the same.

  • Participant contributions shall be suspended during a temporary lay-off or an unpaid leave of absence, provided, however, that coverage under any Health and Other Insurance Benefits plan described in Section 4.4 in which a Participant is enrolled under this Plan may be maintained during an approved unpaid leave of absence by having the Participant pay premium expenses on an after-tax basis.

  • Fire Fund $163 to Other Insurance Benefits, 2191-220-229-0000 from Salary, 2191-220-190-0000.

Related to Other Insurance Benefits

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

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

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • 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:

  • Insurance Consultant or "consultant" means a person who:

  • Insurance carrier means every insurance carrier duly

  • Reimbursement insurance policy means a policy of insurance

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Credit unemployment insurance means insurance:

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

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • insurance broker means an insurance brokerage firm,

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • 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;

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Coverage or “Covering”) shall mean that the developing, making, using, offering for sale, promoting, selling or importing of a given compound, formulation or product would infringe a Valid Claim of an issued patent in the absence of a license under such Valid Claim. The determination of whether a compound, formulation or product is Covered by a particular Valid Claim shall be made on a country-by-country basis.

  • 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.

  • Benefits as defined in Section 3.1(b).

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.