Common use of Group Health Coverage Clause in Contracts

Group Health Coverage. (a) ▇▇▇▇▇▇ Drilling shall provide to Executive and his covered dependents, if any, coverage as in effect for Executive on the date immediately prior to the Termination Date under ▇▇▇▇▇▇ Drilling’s group health plan and group dental plan for a period of twenty-four (24) months following the Termination Date; provided, however, Executive and his covered dependents, if any, shall not be required to pay any portion of the premium cost to retain such coverages except that the cost of such coverages will be imputed as income and reported as wages to Executive in the event that ▇▇▇▇▇▇ Drilling maintains a self-funded group health plan and/or group dental plan and such ▇▇▇▇▇▇ Drilling -provided coverage would otherwise be discriminatory within the meaning of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”). In all other respects, Executive shall be treated the same as other participants under the terms of such plans. (b) Thereafter, Executive and his covered dependents, if any, shall be entitled to elect continuation coverage under such plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and ▇▇▇▇▇▇ Drilling’s procedures for COBRA administration (“COBRA Coverage”). In the event that COBRA Coverage is elected, (i) the COBRA time period shall not be reduced by the post-termination continuation coverage provided pursuant to Section 6(a) and (ii) Executive (and his covered dependents, if any) must pay the full COBRA premium rates as effective during the COBRA Coverage period. In the event Executive does not execute and deliver the Waiver and Release described in Section 10, Executive and his covered dependents, if any, shall be entitled to only COBRA Coverage after the Termination Date. (c) In the event of any change to the group health plan or group dental plan following the Termination Date, Executive shall be treated consistently with senior officers of the Company (or its successor) with respect to the terms and conditions of coverage and other substantive provisions of the plan; provided, however, no participant contributions shall be required from Executive (and his covered dependents, if any) unless COBRA Coverage is in effect. Notwithstanding the foregoing provisions of this Section 6(c), the coverage of Executive (and his dependents, if any) under such health and/or dental plans maintained by the Company shall terminate in the event that Executive becomes employed by another for-profit employer which maintains a group health plan or plans for its employees providing group health coverage or group dental coverage, as applicable; provided, however, any COBRA Coverage shall not be terminated unless and until permitted under COBRA. For purposes of the preceding sentence, (i) the coverage of Executive (and his dependents, if any) under the health and/or dental plans maintained by the Company shall not terminate until Executive becomes eligible to participate in such group health and group dental coverage of another for-profit employer and (ii) personal coverage obtained by Executive other than through employment or coverage available by reason of Executive’s performance of services as an independent contractor shall not be considered.

Appears in 1 contract

Sources: Separation Agreement (Parker Drilling Co /De/)

Group Health Coverage. (a) Effective as of the Termination Date, PRIMEDIA shall continue to provide ▇▇▇▇▇▇ Drilling shall provide to Executive and his covered dependentseligible dependents with medical and dental benefits pursuant to PRIMEDIA’s health and dental benefit program provided to senior employees of PRIMEDIA, if any, coverage as in effect for Executive on from time to time, as if he had continued to be an active employee commensurate with the date immediately position he held prior to the Termination Date under ▇▇▇▇▇▇ Drilling’s group health plan Date, at such levels as are provided to senior employees of PRIMEDIA and group dental plan for a period their eligible dependents from time to time (“Medical Coverage”) until the earlier of (i) the expiration of the twenty-four (24) months following month period commencing on the Termination Date; providedDate (the “Severance Period”), however, Executive and his covered dependents, if any, shall not be required to pay any portion of or (ii) the premium cost to retain such coverages except that the cost of such coverages will be imputed as income and reported as wages to Executive in the event date or dates that ▇▇▇▇▇▇ Drilling maintains becomes eligible for coverage and benefits under corresponding plans and programs of a self-funded group health plan and/or group dental plan and such subsequent employer, as applicable. Notwithstanding the foregoing, (w) as a condition to receiving the benefits hereunder, ▇▇▇▇▇▇ Drilling -provided coverage would otherwise be discriminatory within the meaning of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”). In all other respects, Executive shall be treated the same as other participants under the terms of such plans. (b) Thereafter, Executive and his covered dependents, if any, eligible dependents shall be entitled elect to elect continuation receive group health benefit coverage under such plans from PRIMEDIA as permitted pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), which coverage shall begin on the Termination Date and run through the period provided pursuant to COBRA (the “COBRA Coverage Period”), which coverage shall be deemed to be satisfied by the provision of the Medical Coverage through the COBRA Coverage Period, (x) during the Severance Period, ▇▇▇▇▇▇ Drilling’s procedures shall only be required to pay for COBRA administration (“COBRA Coverage”). In the event Medical Coverage at the same rates that COBRA Coverage ▇▇▇▇▇▇ is elected, (i) the COBRA time period shall not be reduced by the post-termination continuation required to pay for such coverage provided pursuant immediately prior to Section 6(a) and (ii) Executive (and his covered dependents, if any) must pay the full COBRA premium rates as effective during the COBRA Coverage period. In the event Executive does not execute and deliver the Waiver and Release described in Section 10, Executive and his covered dependents, if any, shall be entitled to only COBRA Coverage after the Termination Date. (c) In the event of any change to the group health plan or group dental plan following the Termination Date, Executive (y) the Medical Coverage provided to ▇▇▇▇▇▇ and his eligible dependents by PRIMEDIA under this Agreement shall be treated consistently in full satisfaction of PRIMEDIA’s obligations to ▇▇▇▇▇▇ and his eligible dependents under COBRA, the Employment Agreement and this Agreement, and (z) if at any time during the Severance Period it is not possible for PRIMEDIA to provide the Medical Coverage in accordance with senior officers this Section 1.4(a), PRIMEDIA shall pay ▇▇▇▇▇▇ an amount which, after payment by ▇▇▇▇▇▇ of applicable taxes, is sufficient for him to purchase equivalent benefits, as described in Section 9(d)(i)(E) of the Company (or its successor) with respect to the terms and conditions of coverage and other substantive provisions of the plan; provided, however, no participant contributions shall be required from Executive (and his covered dependents, if any) unless COBRA Coverage is in effect. Notwithstanding the foregoing provisions of this Section 6(c), the coverage of Executive (and his dependents, if any) under such health and/or dental plans maintained by the Company shall terminate in the event that Executive becomes employed by another for-profit employer which maintains a group health plan or plans for its employees providing group health coverage or group dental coverage, as applicable; provided, however, any COBRA Coverage shall not be terminated unless and until permitted under COBRA. For purposes of the preceding sentence, (i) the coverage of Executive (and his dependents, if any) under the health and/or dental plans maintained by the Company shall not terminate until Executive becomes eligible to participate in such group health and group dental coverage of another for-profit employer and (ii) personal coverage obtained by Executive other than through employment or coverage available by reason of Executive’s performance of services as an independent contractor shall not be consideredEmployment Agreement.

Appears in 1 contract

Sources: Separation Agreement (Primedia Inc)

Group Health Coverage. (a) ▇▇▇▇▇▇ Drilling shall provide to Executive and his covered dependents, if any, coverage as in effect for Executive on the date immediately prior to the Termination Date under ▇▇▇▇▇▇ Drillingmaintain Executive’s group health plan and group dental plan coverage for a period of twenty-four eighteen (2418) months following the Termination Date, at substantially the same level of coverages as existed on the Termination Date; provided, however, Executive and his covered dependents, if any, shall not be required to pay any portion of the premium cost to retain such coverages except that the cost of such coverages will be imputed as income and reported as wages to Executive but in the event that ▇▇▇▇▇▇ Drilling maintains a self-funded group health plan and/or group dental plan and such ▇▇▇▇▇▇ Drilling -provided coverage would otherwise be discriminatory within the meaning of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”). In all other respects, Executive respects shall be treated the same as other participants under the terms of such plans. (b) Thereafter. Following the expiration of the 18-month period, Executive and his covered dependents, if any, shall be entitled to elect additional continuation coverage under such plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), ) and ▇▇▇▇▇▇ Drillingthe Company’s procedures for COBRA administration (“COBRA Coverage”)administration, or otherwise. In the event that such additional COBRA Coverage coverage is elected, (i) the COBRA time period shall not be reduced by the post-termination continuation coverage provided pursuant to Section 6(a) the foregoing provisions of this paragraph and (ii) Executive (and his covered dependents, if any) must pay the full COBRA premium rates as effective during the COBRA Coverage such coverage period. In the event Executive does not execute and deliver the Waiver and Release described in Section 10, Executive and his covered dependents, if any, shall be entitled to only COBRA Coverage after the Termination Date. (c) In the event of any change to the group health plan or group dental plan following the Termination Date, Executive and his spouse and dependents, as applicable, shall be treated consistently with the then-current senior officers of the Company ▇▇▇▇▇▇ Drilling (or its successor) with respect to the terms and conditions of coverage and other substantive provisions of the plan; provided, however, no participant contributions shall be required from Executive (and his covered dependents, if any) them unless the additional COBRA Coverage coverage period is in effect. Executive and his spouse hereby agree to acquire and maintain any and all coverage that either or both of them are entitled to at any time during their lives under the Medicare program or any similar program of the United States Government or any agency thereof (hereinafter referred to as “Medicare”). The coverage described in the immediately preceding sentence includes, without limitation, parts A and B of Medicare and any additional parts of Medicare. Executive and his spouse further agree to pay any required premiums for Medicare coverage from their personal funds. Notwithstanding the foregoing provisions of this Section 6(c)provisions, the coverage of Executive (and his dependents, if any) under such health medical and/or dental plans maintained by the Company ▇▇▇▇▇▇ Drilling shall terminate in the event that Executive becomes employed by another for-profit employer which maintains a group health plan or plans for its employees providing group health medical coverage or and group dental coverage, as applicable; provided, however, any additional COBRA Coverage coverage shall not be terminated unless and until permitted under COBRA. For purposes of the preceding sentence, (i) the coverage of Executive (and his dependents, if any) under the health and/or dental plans maintained by the Company shall not terminate until Executive becomes eligible to participate in such group health and group dental coverage of another for-profit employer and (ii) personal coverage obtained by Executive other than through employment or coverage available by reason of Executive’s performance of services as an independent contractor shall not be considered.

Appears in 1 contract

Sources: Separation Agreement (Parker Drilling Co /De/)

Group Health Coverage. (a) ▇▇▇▇▇▇ Drilling shall provide to Executive and his covered dependents, if any, coverage as in effect for Executive on the date immediately prior to the Termination Date under ▇▇▇▇▇▇ Drilling’s group health plan and group dental plan for a period of twenty-four twelve (2412) months following the Termination Date; provided, however, Executive and his covered dependents, if any, shall not be required to pay any portion of the premium cost to retain such coverages except that the cost of such coverages will be imputed as income and reported as wages to Executive in the event that ▇▇▇▇▇▇ Drilling maintains a self-funded group health plan and/or group dental plan and such ▇▇▇▇▇▇ Drilling -provided coverage would otherwise be discriminatory within the meaning of Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”). In all other respects, Executive shall be treated the same as other participants under the terms of such plans. (b) Thereafter, Executive and his covered dependents, if any, shall be entitled to elect continuation coverage under such plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and ▇▇▇▇▇▇ Drilling’s procedures for COBRA administration (“COBRA Coverage”). In the event that COBRA Coverage is elected, (i) the COBRA time period shall not be reduced by the post-termination continuation coverage provided pursuant to Section 6(a) and (ii) Executive (and his covered dependents, if any) must pay the full COBRA premium rates as effective during the COBRA Coverage period. In the event Executive does not execute and deliver the Waiver and Release described in Section 10, Executive and his covered dependents, if any, shall be entitled to only COBRA Coverage after the Termination Date. (c) In the event of any change to the group health plan or group dental plan following the Termination Date, Executive shall be treated consistently with senior officers Senior Officers (as defined in the Employment Agreement) of the Company (or its successor) with respect to the terms and conditions of coverage and other substantive provisions of the plan; provided, however, no participant contributions shall be required from Executive (and his covered dependents, if any) unless COBRA Coverage is in effect. Notwithstanding the foregoing provisions of this Section 6(c), the coverage of Executive (and his dependents, if any) under such health and/or dental plans maintained by the Company shall terminate in the event that Executive becomes employed by another for-profit employer which maintains a group health plan or plans for its employees providing group health coverage or group dental coverage, as applicable; provided, however, any COBRA Coverage shall not be terminated unless and until permitted under COBRA. For purposes of the preceding sentence, (i) the coverage of Executive (and his dependents, if any) under the health and/or dental plans maintained by the Company shall not terminate until Executive becomes eligible to participate in such group health and group dental coverage of another for-profit employer and (ii) personal coverage obtained by Executive other than through employment or coverage available by reason of Executive’s performance of services as an independent contractor shall not be considered.

Appears in 1 contract

Sources: Separation Agreement (Parker Drilling Co /De/)