Benefit Plans Clause Example with 5 Variations from Business Contracts

This page contains Benefit Plans clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation as an employee will end on the Separation Date. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company's h...ealth insurance, if you wish. Your participation in other applicable insurance will cease as of the Separation Date. Deductions for the 401(k) Plan will end with your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, 2022 Page 3 of 8 You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Spending Account payroll deductions will be processed in the September 30, 2022 pay period. Unless you elect to continue your Health Care Spending Account, you will only be eligible to claim expenses that you incurred prior to the Separation Date. View More Arrow

Variations of a "Benefit Plans" Clause from Business Contracts

Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation as an employee will end on the last day of the month in which the Separation Date. Date occurs. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individua...l policy through the provider of the Company's health insurance, expense (but if you wish. execute this Agreement, with the potential for certain payments to be made by the Company in accordance with Section 2(b) above. 0 Your participation in Employer-Sponsored Group Life Insurance and Short and Long Term Disability Insurance, or other applicable insurance insurance, will cease as of the Separation Date. Deductions Date; however, you may elect to convert any eligible Employer-Sponsored Group Life Insurance, Short and Long-Term Disability Insurance or Individual Life Insurance policies by contacting LaDuane Clifton, CFO, within thirty (30) days following the Separation Date If you are participating in the Company's 401(k) Plan, deductions for the 401(k) Plan will end with your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, 2022 Page 3 If you are participating in the Company's Employee Stock Purchase Plan ("ESPP"), deductions for the ESPP will end with your last regular paycheck. If the Separation Date occurs prior to the next ESPP purchase date, deductions held on your behalf during the then current purchase period shall be returned to you in accordance with the requirements and provisions of 8 the ESPP plan documents. You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Dependent Care Spending Account payroll deductions expense reimbursements will be processed in within the September 30, 2022 pay period. Unless you elect to continue your Health Care Spending Account, you will only be eligible to claim expenses that you incurred prior to calendar month following the Separation Date. View More Arrow
Benefit Plans. If you are currently were participating in the Company's group health insurance plans, your participation as an employee will end ended on the Separation Date. last day of the month following the month in which the employment termination occurred. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense.... expense, with the potential for certain portions to be paid by the Company in accordance with Section 3(b) above. Later, you may be able to convert to an individual policy through the provider of the Company's health insurance, if you wish. Your participation in other applicable all Company-provided insurance will cease plans, including Employer-Sponsored Group Life Insurance and Short and Long Term Disability Insurance ceased as of the Separation Date. Date; however, you had the opportunity to elect to convert your Life Insurance by contacting HR on or before the last day of the month. Deductions for the 401(k) Plan will end ended with your last regular paycheck. You will receive have received information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, 2022 Page 3 of 8 You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is Reach out to Human Resources for the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Spending Account payroll deductions will be processed in the September 30, 2022 November 20th - December 3rd pay period. Unless If you elect to continue your Health Care have a Flexible Spending Account, you Account (FSA), it will only be eligible to claim expenses that you incurred prior to closed as of the Separation Date. You will be able to submit bills for reimbursement to your FSA for 90 days from the Separation Date but only for costs incurred before the Separation Date. View More Arrow
Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation as an employee will end on the your Separation Date. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health and dental insurance policies, you will be eligible to continue your group health and dental insurance benefits at your own expense. expense, with the potential for certain payments to be made by the Com...pany as described in Section 2(b) above. Later, you may be able to convert to an individual policy through the provider of the Company's health insurance, if you wish. Your participation in other applicable insurance Employer-Sponsored Group Life Insurance and Short and Long Term Disability Insurance will cease as of the Separation Date. your last day of employment; however, you may elect to convert your insurance by contacting The Standard within 31 days of your last day worked. Deductions for the 401(k) Plan will end with your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, 2022 Page 3 of 8 You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Spending Account payroll deductions will be processed in the September 30, 2022 last pay period. period in October. Unless you elect to continue your Health Care Spending Account, you will only be eligible to claim expenses that you incurred prior to the Separation Date. Christopher Ianelli, MD, Ph.D. October 24, 2022 You may be eligible for unemployment insurance benefits after the Separation Date. Your state or commonwealth's department of unemployment assistance, not the Company, will determine your eligibility for such benefits. Please refer to Exhibit A for more information. View More Arrow
Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation as an employee will end on the your Separation Date. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health and dental insurance policies, you will be eligible to continue your group health and dental insurance benefits at your own expense. expense, with the potential for certain payments to be made by the Com...pany as described in Section 2(b) above. Later, you may be able to convert to an individual policy through the provider of the Company's health insurance, if you wish. Your participation in other applicable insurance Employer-Sponsored Group Life Insurance and Short and Long Term Disability Insurance will cease as of the Separation Date. your last day of employment; however, you may elect to convert your insurance by contacting The Standard within 31 days of your last day worked. Deductions for the 401(k) Plan will end with your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, Jill Mullan October 24, 2022 Page 3 of 8 You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Spending Account payroll deductions will be processed in the September 30, 2022 last pay period. period in October. Unless you elect to continue your Health Care Spending Account, you will only be eligible to claim expenses that you incurred prior to the Separation Date. You may be eligible for unemployment insurance benefits after the Separation Date. Your state or commonwealth's department of unemployment assistance, not the Company, will determine your eligibility for such benefits. Please refer to Exhibit A for more information. View More Arrow
Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation as an employee will end on the Separation Date. Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company's current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. expense (other than as set forth in 3(b) above). Later, you may be able to convert to an individu...al policy through the provider of the Company's health insurance, if you wish. Your participation in other applicable insurance will cease as of the Separation Date. Don Closser November 18, 2022 Page 3 of 9 Deductions for the 401(k) Plan will end with your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant in this program. James Gerber September 9, 2022 Page 3 of 8 You have the right to continue your current Health Care Spending Account if you are participating in this program. Enclosed is the information concerning how to continue this benefit. Dependent Care Spending Accounts cannot be continued. Your last full Spending Account payroll deductions will be processed in the September 30, November 15, 2022 pay period. Unless you elect to continue your Health Care Spending Account, you will only be eligible to claim expenses that you incurred prior to the Separation Date. View More Arrow