Benefit Continuation

Example Definitions of "Benefit Continuation"
Benefit Continuation. Means continuing coverage for a Participant and, where applicable, the Participant's covered spouse and covered eligible dependents under each of the Company's group health and group life insurance plans for such period following the termination of the Participant's employment with the Company and its Affiliates as is specified in Section 5 or 6 herein with respect to such termination of employment (or, if sooner, until corresponding coverage is obtained under a successor employer's plan) at... the same benefit and contribution levels in effect immediately prior to such termination of employment or, to the extent not permitted by the plan or by applicable law, cash payments sufficient to enable the Participant and/or the Participant's covered spouse and covered eligible dependents, on an after tax basis, to obtain comparable individual coverage through the end of such period. The continuing group health plan coverage component of a Participant's Benefit Continuation will be made available in addition to and not in lieu of COBRA continuation coverage View More
Benefit Continuation. The continued participation by the Employee and his or her eligible dependents in the Benefit Plans, upon the same terms and conditions in effect from time to time for active employees of the Company, as determined in good faith by the Committee, subject to Employee's continued payment of premiums at the same rate as applicable for similarly situated active employees during the Benefit Continuation Period.
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