Medical and Dental Benefits. A lump sum amount equal to # the amount of the monthly premiums that the Participant would be required to pay, if he or she elected “COBRA” continuation coverage under the medical and dental plans of the Corporation in which the Participant was participating immediately before the Qualified Termination of Employment, based upon the premium rates in effect as of the date of the Qualified Termination of Employment, times # for a Tier I Participant, 24, and for a Tier II Participant, 12.
Medical, Dental and Other Benefits. The Executive shall be eligible to enroll and participate in any and all benefit plans the Company provides to its senior level executives, as modified, amended or terminated from time to time in accordance with the applicable policies or plan documents and which may include, but not be limited to, medical and dental coverage, life and disability insurance, retirement plans and deferred compensation plans. The premiums, costs and expenses for any benefit plans under which the Executive is participating shall be borne by the Executive and the Company in accordance with the Company’s policies related to such plans. The Executive shall receive four (4) weeks of paid vacation each year, which if not taken may not be carried forward to any subsequent year. The Executive shall not receive any compensation for any unused vacation days and upon termination of employment for any reason, any unused vacation days shall be forfeited. Any and all benefits provided for hereunder shall not be included in the definition of the term “Base Salary” as that term is used in this Agreement. All such benefits shall immediately cease and terminate upon the later of # the termination date of the Employment Period, # the expiration date of coverage under the terms of the applicable plan document, or # the expiration date of coverage for such benefits by the Company as described in Section 4; provided, that upon such termination, the Executive shall have the right to elect to continue any or all of such health benefits, programs or coverage, at his sole cost and expense, in accordance with and subject to the terms and limitations set forth in the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”) and the regulations promulgated in connection therewith.
Medical Coverage. In addition, the Company shall provide the Executive with medical, dental and vision insurance benefits (which may also cover, if applicable, the Executive’s spouse and eligible dependents) for three hundred sixty-five (365) days from the date of the Executive’s termination of employment or until such time as the Executive is eligible for group health coverage under another employer’s plan, whichever occurs first. In order to trigger the Company’s obligation to provide health care continuation benefits, the Executive must elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), upon such eligibility. The Company’s obligation shall be satisfied solely through the payment of the Executive’s COBRA premiums during the 365-day period, but only to the extent that such premiums exceed the amount that would otherwise have been payable by the Executive for coverage of the Executive and the Executive’s eligible dependents that were covered by the Company’s medical, dental, and vision insurance programs at the time of the Executive’s termination of employment had the Executive continued to be employed by the Company.
The Company reserves the right to call for a medical examination to determine the CEO’s fitness to work on general or specific duties at any time.
Medical Coverage. Employee may elect to extend Employee’s medical coverage (but not dental coverage) at the active premium rates as described in the document entitled “Information About Your Immediate Medical and Dental Options” (the “Medical Information Document”). Employee must make such election in accordance with the requirements set forth in the Medical Information Document.
Medical Coverage. Smathers shall have the option to convert and continue medical and dental insurance for himself and his eligible dependents after the Termination Date, as may be required or authorized by law under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). The Company shall pay the cost of Smathers’ premiums to continue medical coverage pursuant to COBRA, at the same or reasonably equivalent medical coverage for Smathers (and, if applicable, Smathers’ eligible dependents) as in effect immediately prior to the Termination Date, for a period of six months, commencing on the Termination Date.
Medical Examination Benefit. During the Term, the Executive shall be entitled to reimbursement for actual costs incurred, up to $2,500 per calendar year, for an annual physical and related medical examinations.
Medical/Injuries Reporting. Owners shall provide first aid to Service Providers Representatives on-Site. Injuries that require treatment beyond first aid will follow Owners’ emergency response procedures.
• Fringe Benefits: Medical stipend of $1,000/mo or participation in our group plan or cost for comparable coverage in plan.
If, at the time of Mr. Reeves’ termination of employment, the Company no longer provides subsidized pre-65 retiree medical and dental benefits, then the aforementioned lump sum payment will not be made. If, at the time of Mr. Reeves’ termination of employment, Mr. Reeves is otherwise eligible for subsidized retiree medical and dental benefits, then the aforementioned lump sum payment will not be made.
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