Welfare Plan Coverage Sample Clauses
The Welfare Plan Coverage clause defines the scope and terms under which employees or beneficiaries are eligible to receive benefits from an employer-sponsored welfare plan, such as health, dental, vision, or life insurance. It typically outlines who qualifies for coverage, the types of benefits provided, and any conditions or limitations that may apply, such as waiting periods or dependent eligibility. This clause ensures that both the employer and employees have a clear understanding of the benefits available and the requirements for participation, thereby reducing confusion and potential disputes regarding coverage.
Welfare Plan Coverage. During the Severance Period, Executive and his spouse and other dependents will continue to be covered by all Welfare Plans maintained by the Company in which he and his spouse and other dependents were participating immediately prior to the date of his termination as if he continued to be an employee of the Company and the Company will continue to pay the costs of coverage of Executive and his spouse and other dependents under such Welfare Plans on the same basis as is applicable to active employees covered thereunder; provided that, if participation in any one or more of such Welfare Plans is not possible under the terms thereof, the Company will provide substantially identical benefits. For purposes of the continuation of Executive's group health plan coverage required under Code Section 4980B, to the extent permitted by the applicable group health plan, (i) the period of extended coverage referred to in Code Section 4890B(f)(2)(B)(i)(I) shall commence on the first date that follows the end of the Severance Period, and (ii) the applicable notice period provided under Code Section 4980B(f)(6)(B) shall commence on the first date that follows the end of the Severance Period. In the event the Company contributions for coverage under the Welfare Plans would be treated as deferred compensation under Section 409A and contributions during the six (6) months following the date of Executive’s separation from service would cause Executive to be subject to an additional tax under Section 409A, Executive shall pay the entire cost of coverage during such six-month period and the Company shall reimburse Executive for the amount that the Company would have paid during such period on the first date that the Company may make such payment without causing an additional tax to be paid by Executive under Section 409A.
Welfare Plan Coverage. Subject to the terms of this Section 8.3, as of the Closing Date, the Purchaser shall permit the Seller to, and the Seller shall, adopt for the benefit of employees of the Transferred Business Units (and their dependents) the Vivra, Inc. Group Health Plan, the Vivra, Inc. Long Term Disability Plan and the Vivra, Inc. Life Insurance Plan (the "Vivra Welfare Plans") for the period from and after the Closing Date until March 31, 2000. Such participation shall be terminated prior to March 31, 2000, upon mutual agreement of the parties or upon the failure by Seller to pay any amounts due in accordance with this Section 8.3. As a precondition to the adoption of and participation in such plans, prior to the Closing Date, Seller shall provide Purchaser with evidence satisfactory to Purchaser that such plans are fully insured and that the contracts with applicable insurance carriers have been amended or modified to permit the coverage of such Transferred Business Units' employees (and their dependants). Seller shall pay to the Purchaser upon demand all expenses relating to or arising as the result of such coverage under the Vivra Welfare Plans, including without limitation, any premiums due under the Vivra Welfare Plans. Seller shall retain, pay, perform and indemnify and hold Purchaser harmless from and against all liabilities, costs, expenses, losses, damages and liabilities incurred or suffered directly or indirectly, including, but not limited to, reasonable attorneys' fees and expenses that: (i) arise with respect to coverage under the Vivra Welfare Plans with respect to any employee of the Transferred Business Units (or their dependents), including, but not limited to any liabilities arising in the event that the Vivra Welfare Plans are not fully insured or any related insurance contracts fail to permit coverage of such employees or their dependants; (ii) arise from or on behalf of any employee or former employee (and their dependents) of the Company or any of its Subsidiaries under any employee benefit plans that are employee welfare benefit plans (within the meaning of ERISA) for all claims incurred on or before the Closing Date, whether or not such claims are submitted for payment or reimbursement on or before the Closing Date; and (iii) relate to the provision of benefits under any employee welfare benefit plan or arrangement (within the meaning of ERISA) listed on Schedule 3.21 to those employees or former employees (and their dependents) of the Company ...
Welfare Plan Coverage. With respect to each Acquired Employee who elects to participate in Buyer's employee welfare benefit plans, Buyer shall waive any pre-existing condition exclusions to coverage, any evidence of insurability provisions, and any waiting period requirements under its employee welfare benefit plans that had been waived or otherwise satisfied under comparable employee welfare benefit plans sponsored by the Affiliate Employer, provided the Acquired Employee enrolls within thirty-one (31) days of his or her Employment Commencement Date. For each Acquired Employee, Buyer shall also apply towards any deductible requirements and out-of-pocket maximum limits under its employee welfare benefit plans applicable to the year of such Acquired Employee's Employment Commencement Date, any amounts paid by such Acquired Employee toward such requirements and limits under the Affiliate Employer's employee welfare benefit plans in which he or she participated during such year. Buyer shall notify Seller if an Acquired Employee fails to enroll in one of Buyer's health plans. If an Acquired Employee enrolls in one of Buyer's health plans within eighteen (18) months of the Employment Commencement Date, Buyer shall notify Seller or cause the Acquired Employee to notify Seller as soon as reasonably practicable after such enrollment.
Welfare Plan Coverage. (a) With respect to each Post-Closing Employee who elects to participate in Welfare Plans to be established by Buyer prior to the expiration of the transition period as contemplated under the Transition Services Agreement, Buyer shall, to the extent allowed under Buyer's Welfare Plans, waive any pre-existing condition exclusions to coverage, any evidence of insurability provisions, any active at work requirement and any waiting period or service requirements that did not exist or had been waived or otherwise satisfied under Seller's Welfare Plans, provided the Post-Closing Employee enrolls within the period of time required under the terms of the plan after first becoming eligible to enroll.
(b) Buyer shall establish a flexible spending plan ("Buyer's FSP") prior to the Closing. Post-Closing Employees shall be eligible to participate in Buyer's FSP following the Closing. Buyer and Seller agree to determine an appropriate transition strategy for outstanding balances held by Post-Closing Employees under Seller's flexible spending plan and the reimbursement of claims thereunder to the extent necessary.
Welfare Plan Coverage. 3.1 The obligation of the GEC Companies and the GEC Welfare Plan to provide benefits to the Berkel Welfare Plan Participants shall cease as of the Welfare Plan Change Date in accordance with this subpart 3.
3.2 The GEC Welfare Plan shall pay claims incurred on or prior to the Welfare Plan Change Date that are required to be paid under the terms of the GEC Flexible Spending Accounts Program portion of the GEC Welfare Plan. For this purpose, a medical or dental claim is incurred on the date the service is rendered or the product is purchased. A dependent care claim is incurred on the date the service is provided. GAI may amend the GEC Welfare Plan to provide that all claims of Berkel Welfare Plan Participants must be presented for payment to the GEC Welfare Plan by the end of the calendar month that begins after the Welfare Plan Change Date.
3.3 Berkel shall be responsible for, and shall pay to GAI, all claims incurred by Berkel Welfare Plan Participants on or prior to the Welfare Plan Change Date, whether paid by the GEC Welfare Plan before or after the Welfare Plan Change Date and expenses related to such claims, including, but not limited to, GAI's applicable administration charge. Berkel shall also pay to GAI for the calendar month which commences after the Welfare Plan Change Date the GAI administrative change for GEC Welfare Plan coverage which was charged to Berkel for the calendar month in which the Completion occurred. Berkel shall also pay to GAI any expenses incurred by GAI for the transfer of Berkel Welfare Plan Participant information to Berkel or an entity designated by Berkel and GAI hourly charges for the time of GAI personnel in causing such transfer to occur.
3.4 On and after the Welfare Plan Change Date, Berkel shall assume responsibility, and shall be liable for, providing any of the following benefits to Berkel Welfare Plan Participants:
(A) medical, dental, or other employee welfare benefits required to be provided under the Consolidated Omnibus Budget Reconciliation Act of 1986 or under any provisions of the GEC Welfare Plan that require the continuation of such benefits after termination of a Berkel Welfare Plan Participant's normal eligibly for such benefits;
(B) medical, dental, life or other employee welfare benefits required to be provided by reason of an Berkel Welfare Plan Participant's disability or illness; and
(C) all other employee welfare benefits, subject to any right to amend or terminate such benefits in the future that ...
Welfare Plan Coverage. The Transferred Employees will become eligible to become participants under all Welfare Plans as of the Closing Date. Newco shall also cause the Welfare Plans to waive any pre-existing-conditions exclusions to coverage, any evidence-of-insurability provisions, and any waiting-period requirements under the Welfare Plans for the Transferred Employees. For each Transferred Employee, Newco shall apply towards any deductible requirements and out-of-pocket maximum limits under the Welfare Plans applicable to the year of the Closing Date, any amounts paid by such Transferred Employee toward such requirements and limits under similar employment-related plans of Georgia-Pacific in which he or she participated during such year.
Welfare Plan Coverage. (a) With respect to each Post-Closing Employee who elects to participate in Buyer’s Welfare Plans following the transition period as contemplated under the Transition Services Agreement, Buyer shall, to the extent allowed under Buyer’s Welfare Plans, waive any pre-existing condition exclusions to coverage, any evidence of insurability provisions, any active at work requirement and any waiting period or service requirements that did not exist or had been waived or otherwise satisfied under Seller’s Welfare Plans, provided the Post-Closing Employee enrolls within a reasonable period of time after first becoming eligible to enroll.
(b) Post-Closing Employees shall be eligible to continue to participate in Seller’s flexible spending plan (“Seller’s FSP”) following the Closing as contemplated under the Transition Services Agreement. Thereafter, Buyer shall establish a flexible spending plan or allow Post-Closing Employees to participate in an existing flexible spending plan (“Buyer’s FSP”) and Buyer and Seller agree to determine appropriate transition strategy for outstanding balances held by Post-Closing Employees under Seller’s FSP and the reimbursement of claims thereunder to the extent necessary.
Welfare Plan Coverage. With respect to each Acquired Employee who elects to participate in Buyer’s employee welfare benefit plans, Buyer shall waive any pre-existing-condition exclusions to coverage, any evidence-of-insurability provisions, and any waiting-period requirements under its employee welfare benefit plans that had been waived or otherwise satisfied under comparable employee welfare benefit plans sponsored by the Seller, provided the Acquired Employee enrolls within thirty-one (31) days of his or her Employment Commencement Date. For each Acquired Employee, Buyer shall also apply towards any deductible requirements and out-of-pocket maximum limits under its employee welfare benefit plans applicable to the 2000 calendar year any amounts paid by such Acquired Employee toward such requirements and limits under the Seller’s employee welfare benefit plans in which he or she participated during such year. Buyer shall notify Seller if an Acquired Employee fails to enroll in one of Buyer’s health plans. If an Acquired Employee enrolls in one of Buyer’s health plans within eighteen (18) months of the Employment Commencement Date, Buyer shall notify Seller or cause the Acquired Employee to notify Seller as soon as reasonably practicable after such enrollment.