Welfare Plan Benefits definition

Welfare Plan Benefits shall have the meaning given to it in Section 2.4 hereof.
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Welfare Plan Benefits means (i) such benefits as are provided under the Walbro Corporation Employees' Welfare Benefit Plan, including medical, dental and vision benefits, life insurance, accidental death and dismemberment, short-term disability and long-term disability insurance, and (ii) such additional executive disability coverage as is provided by various underwriters, including Provident, Monarch or Unum as applicable.
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Welfare Plan Benefits has the meaning given to it in Section 2.5.3 hereof. EXHIBIT A FORM OF RELEASE [DATE], 200__ [NAME OF EMPLOYEE] [ADDRESS] [CITY], Florida [ZIP] Dear: [NAME OF EMPLOYEE] Reference is made to the Executive Employment Agreement between the Company and you dated [____________, 200__]. This letter serves to document our mutual understanding regarding the terms of your severance payments, and a full release of any and all actual or potential claims relating to periods prior to the date that this letter becomes effective.
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Examples of Welfare Plan Benefits in a sentence

  • Xxxxxxx hereby releases the Company from any obligation to pay or continue any compensation or benefits under the Employment Agreement including his Base Salary, Welfare Plan Benefits and all stock compensation provided for in Sections 2.3.2 through 2.3.9. of the Employment Agreement, except as specifically provided in Paragraph 8 of this Agreement.

  • Welfare Plan Benefits otherwise receivable by you pursuant to clause (v) above shall be reduced to the extent comparable benefits are actually received on your behalf during the one-year period following your termination, and such benefits actually received by you shall be reported to the Corporation.

  • Provided, that to the extent any such coverage is prohibited, whether by contract, any judicial or legislative authority or otherwise, the Company shall in its sole discretion make alternative arrangements to provide the Executive with Welfare Plan Benefits or provide the Executive with a payment in an amount equal to what the Company was contributing toward purchasing the Welfare Plan Benefits for Executive immediately prior to the Termination Date.

  • Officers shall be eligible for Health and Welfare Plan Benefits and BC Medical Services Plan benefits effective the first (1st) day of the month following the month in which the Officer completes their probationary period.

  • The Parties agree that the full amount of the reduction in the premiums resulting from the registration of the Company Group Insurance Plan will be applied toward the cost of Health and Welfare Plan Benefits.

  • Premium Rebate The Parties agree that the full amount of the reduction in the Employment Insurance premiums resulting from the registration of the Company Group Insurance Plan will be applied toward the cost of Health and Welfare Plan Benefits.

  • The Welfare Plan Benefits for Unemployed Members, which are described in this booklet, are provided at no or little subsidized cost to eligible Members.

  • All of the Welfare Plan Benefits stipulated in this Collective Agreement are provided through Teamsters Local 938 Benefit Plan Trust Fund (excluding Short Term Disability) Effective May 1, 2013 employees will contribute $10.00 per week towards benefit coverage.

  • The Local 910 Welfare Fund offers the following benefits: IBEW Local 910 Welfare Plan Benefits MedicalBenefitsPooledBenefitsPersonal AccountPlan Benefits (Self-Insured) Heath Care Benefit Prescription Drug Benefit Life Insurance Benefit Accidental Death & Dismemberment Insurance Benefit Health Expense Benefit The Personal Account Plan Health Expense Benefit is reimbursement coverage.

  • If you opt out or delay enrollment in the Retiree Health and Welfare Plan Benefits, this will terminate all Retiree Benefits including Medical, Prescription Drug, Dental, Vision, and Hearing Aid benefits.


More Definitions of Welfare Plan Benefits

Welfare Plan Benefits shall have the meaning given to it ss.5(b) below.
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Related to Welfare Plan Benefits

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

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

  • Welfare Plans shall have the meaning set forth in Section 3.2.4.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

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

  • 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.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Retiree means any person who has begun accruing a retirement

  • 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:

  • 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.

  • Health benefits plan means a benefits plan which pays or

  • Separation Benefits has the meaning accorded such term in Section 3.04.

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

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Retiree Welfare Plan means, at any time, a Welfare Plan that provides for continuing coverage or benefits for any participant or any beneficiary of a participant after such participant's termination of employment, other than continuation coverage provided pursuant to Section 4980B of the IRC and at the sole expense of the participant or the beneficiary of the participant.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.