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Welfare Benefit Plans
Welfare Benefit Plans contract clause examples
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Welfare Continuance Benefit. For eighteen (18) months following the Date of Termination, the Executive and his/her eligible dependents will continue to be covered under all health and dental plans, disability plans, life insurance plans (including split dollar endorsement agreements related to Bank Owned Life Insurance policies), and all other welfare benefit plans (as defined in Section 3(1) of the Employee Retirement Income Security Act) (“Welfare Plans”) in which the Executive and his/her dependents were participating immediately prior to the Date of Termination (the “Welfare Continuance Benefit”) to the extent permissible under the terms of the respective Welfare Plans and applicable law. Health and medical coverage will be provided under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). The Executive will pay only that portion of the COBRA premiums that he was paying as an active employee prior to the Date of Termination. The Company will pay any additional premium costs. Notwithstanding the foregoing, 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 substantially equal or greater benefits to the Executive and his/her dependents with respect to the specific type of benefit; and

Welfare Severance Benefit. The Company will pay as a lump sum cash payment an amount equal to 140% of the cost of the Eligible Employee's monthly insurance premium as in effect in September 2017 for the Eligible Employee's cost of coverage under the Company's group health and welfare benefit plans (the "Monthly Welfare Premium"), including the cost of coverage for the Eligible Employee's eligible dependents, multiplied by the applicable number

Welfare Benefit Fund. Welfare benefit fund means a fund as defined in [section 419(e)] of the Code which provides post‑retirement medical benefits allocated to separate accounts for key employees as defined in [section 419A(d)(3)].

Buyer Welfare Plans. Buyer shall cause the waiver of all limitations as to pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to the Continuing Employees. Buyer shall provide continuation health care coverage to Continuing Employees and their qualified beneficiaries who incur a qualifying event, in accordance with the continuation health care coverage requirements of Section 4980B of the Code and Title I, Subtitle B, Part 6 of ERISA (“COBRA”) or any similar provisions of state Legal Requirement, on or after the Employee Start Date.

BENEFIT PLANS. The Executive shall be entitled to participate in all employee benefit plans that the Company generally makes available to its senior executives (other than severance plans) from time to time, including any group health plans, dental plans, life, disability and AD&D insurances, a 401(k) plan, tuition reimbursement, recreation allowance, parking or public transportation and various types of paid time off, subject to the terms and conditions of such benefit plans. The Executive may elect to continue with COBRA insurance from the Executive’s prior employer, and in such an event, the Company will reimburse the Executive for 100% of the Executive’s out of pocket cost of COBRA insurance coverage from Executive’s prior employer.

Benefit Plans. Executive shall be entitled to participate in the executive employee health and welfare, retirement and other employee benefits programs offered generally from time to time by Ceridian to its senior executive employees in the applicable country, to the extent that Executive’s position, tenure, salary, and other qualifications make Executive eligible to participate.

Benefit Plans. In addition, # the Executive shall be eligible to participate in all other incentive plans, practices, policies and programs, and all savings and retirement plans, policies and programs, in each case that are applicable generally to senior executives of the Company; # the Executive and the Executive’s eligible family members shall be eligible for participation in the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental, vision, disability, employee life, group life and accidental death insurance plans and programs) maintained by the Company for its senior executives; # the Executive shall be entitled to receive prompt reimbursement for all reasonable business expenses incurred by the Executive in accordance with subsection # below and the policies, practices, and procedures of the Company provided to senior executives of the Company; and # the Executive shall be entitled to such fringe benefits and perquisites as are provided by the Company to its senior executives from time to time, in accordance with the policies, practices, and procedures of the Company.

Benefit Plans. The Executive shall be entitled to participate in all employee benefit plans or programs of the Company as are available to other similarly situated executives of the Company, in accordance with the terms of the plans, as may be amended from time to time.

Benefit Plans. “Benefit Plans” means all benefits of employment generally made available to executives of the Corporation from time to time.

Benefit Plans. During the Agreement Period, Executive shall be eligible to participate in all pension, 401(k) and other employee benefit plans, policies and programs for the benefit of senior executive officers. The Company reserves the right to modify, suspend or discontinue any Benefit Plans at any time without notice to or recourse by Executive, so long as such action is taken generally with respect to other similarly situated executives employed by the Company.

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