Welfare Continuance Benefit definition

Welfare Continuance Benefit means the benefit provided in Section 4(c).
Sample 1Sample 2Sample 3
Welfare Continuance Benefit has the meaning set forth in Section 5.1(d).
Sample 1Sample 2Sample 3
Welfare Continuance Benefit means the benefit provided in Section 2(e).
Sample 1Sample 2Sample 3

Examples of Welfare Continuance Benefit in a sentence

  • If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for the Executive or the Company due to such participation, the Company will provide substantially identical benefits directly or through an insurance arrangement.

  • The Welfare Continuance Benefit as to any Welfare Plan will cease if and when the Executive has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to the Executive and his dependents with respect to the specific type of benefit.

  • The Executive or his dependents will become eligible for COBRA continuation coverage as of the date the Welfare Continuance Benefit ceases for all health and dental benefits.

  • The Company will pay all or a portion of the cost of the Welfare Continuance Benefit for the Executive and his dependents under the Welfare Plans on the same basis as applicable, from time to time, to active employees covered under the Welfare Plans and the Executive will pay any additional costs.

  • Except as specifically provided above with respect to the Welfare Continuance Benefit, the amount of any payment provided for in Section 6 shall not be reduced, offset or subject to recovery by the Company by reason of any compensation earned by the Executive as the result of employment by another employer after the Date of Termination, or otherwise.

  • Employee may use the Welfare Continuance Benefit, as Employee wishes, including for payment of insurance premiums.

  • If participation in any one or more of the Welfare Plans included in the Welfare Continuance Benefit is not possible under the terms of the Welfare Plan or any provision of law would create an adverse tax effect for Officer or the Company due to such participation, the Company will provide substantially identical benefits directly through COBRA or through an insurance arrangement.

  • In the event that Officer resigns for Good Reason, as defined below, during the Employment Period, Officer shall be entitled to receive the Accrued Obligations, Salary Continuance Benefit, and Welfare Continuance Benefit under the terms defined in Section 6.

  • The Welfare Continuance Benefit as to any Welfare Plan will cease if and when Officer has obtained coverage under one or more welfare benefit plans of a subsequent employer that provides for equal or greater benefits to Officer and his dependents with respect to the specific type of benefit.

  • Except as specifically provided above with respect to the Welfare Continuance Benefit, the amount of any payment provided for in Section 6 shall not be reduced, offset or subject to recovery by Company by reason of any compensation earned by Officer as the result of employment by another employer after the Date of Termination, or otherwise.


More Definitions of Welfare Continuance Benefit

Welfare Continuance Benefit has the meaning set forth in Section 5.1(d). 2.33 “Welfare Plans” means the Company’s plans, practices, policies and programs that provide welfare benefits including, but not limited to, medical, prescription, dental, disability, group life, accidental death and travel accident insurance benefits.
Sample 1
Welfare Continuance Benefit means the benefit described in Section 2(e).
Sample 1

Related to Welfare Continuance Benefit

  • 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).

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Termination Benefit means the benefit set forth in Article 7.

  • 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.

  • Fringe benefit means health insurance, a retirement benefit received under a pension plan or defined contribution plan, a paid vacation day, a paid holiday, sick leave, or any other similar employee benefit provided by an employer.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • COBRA continuation provision means any of the following:

  • Welfare Plan means a “welfare plan” as defined in Section 3(1) of ERISA.

  • 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.

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Disability Benefit means the benefit set forth in Article 8.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

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

  • 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.

  • SERP Benefit means the benefit described in Section 5.1.

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

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Change in Control Benefits means the following benefits:

  • Retirement Benefit means the benefit set forth in Article 5.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Termination Benefits means the benefits described in Section 4.1(b).

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

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.