Examples of Tier 4 Employee in a sentence
If participation in CIGNA International is not practicable because such Tier 4 Employee relocates to the United States, the Company shall arrange to provide such Tier 4 Employee (and any eligible dependents), to the extent such benefits were provided by CIGNA International, with insured medical, dental, vision, life insurance, and prescription drug benefits on the same basis as provided for Tier 4 Employees whose job duties are based in the United States.
As a condition to participation in the Plan, a Tier 4 Employee shall be obligated to notify the Company’s HR Service Center in writing within 30 days after such Tier 4 Employee first becomes eligible for any health benefit coverage through any subsequent employer(s).
In the event that during the period commencing on the date of the Change in Control and ending twelve (12) months thereafter, the employment of a Tier 4 Employee is terminated by the Employer without Cause, then the Employer shall pay or provide the Participant with the Severance Benefits.
A Participant shall not be entitled to Severance Benefits under the Plan if the Participant’s employment isterminated (i) by the Employer for Cause, (ii) by a Tier 1 Employee, Tier 2 Employee or Tier 3 Employee for any reason other than for Good Reason, (iii) by a Tier 4 Employee for any reason, or (iv) on account of the Participant’s death or Disability.
Subject to earlier expiration in whole or part as described in this subsection (C), the Continuation Period shall be as follows: (i) in the case of a Tier 1 Employee, for twenty-four months from the Severance Date, (ii) in the case of a Tier 2 Employee, for eighteen months from the Severance Date; (iii) in the case of a Tier 3 Employee, for twelve months from the Severance Date; and (iv) in the case of a Tier 4 Employee, for six months from the Severance Date.
A Tier la or lb Employee is eligible to receive severance benefits of not more than 150% of his or her Annual Base Salary; a Tier 2 Employee is eligible to receive severance benefits of not more than 100% of his of her Annual Base Salary; a Tier 3 Employee is eligible to receive severance benefits of not more than 50% of his or her Annual Base Salary; and a Tier 4 Employee is eligible to receive severance benefits of not more than 25% of his or her Annual Base Salary.
Each Tier 4 Employees’ entitlement to and receipt of benefits under this Section 2.5(b) shall be subject to the same benefit limits, co-payments, premium payments and deductibles to the same extent as if such Tier 4 Employee had continued to be a Tier 4 Employee of the Company during the Tier 4 Health and Welfare Benefit Continuation Period, and subject further to any changes to or termination of those benefits as may apply to continuing employees of the Company.
Subject to Sections 2.10 and 2.11 hereof, each Tier 4 Employee who incurs a Severance during the Effective Period shall be entitled to a cash lump sum payment equal to one and one-quarter times (1.25x) the Eligible Employee’s annual base salary as in effect immediately prior to the time that Notice of Termination is given or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason.
Notwithstanding the foregoing or any provision of the Plan to the contrary, in no event will a Tier 4 Employee or Tier 5 Employee be eligible for the enhanced Severance Benefit provided under this Section 3.02.
A Participant shall not be entitled to Severance Benefits under the Plan if the Participant’s employment is terminated (i) by the Employer for Cause, (ii) by a Tier 1 Employee, Tier 2 Employee or Tier 3 Employee for any reason other than for Good Reason, (iii) by a Tier 4 Employee for any reason, or (iv) on account of the Participant’s death or Disability.