GVHR » Topics » RECITALS

This excerpt taken from the GVHR 10-Q filed May 12, 2008.

RECITALS

 

WHEREAS, UnitedHealthcare and Gevity entered into that certain Group Benefits Agreement effective June 1, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”);

 

WHEREAS, UnitedHealthcare and Gevity desire to amend the Agreement as set forth below;

 

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, UnitedHealthcare and the Gevity hereto agree as follows:

 

1.                                       Anything set forth in the Agreement to the contrary notwithstanding:

 

(a)                                  As of the date of this First Amendment, Section 2.2 is hereby amended and restated as follows:  “UnitedHealthcare shall offer United group medical insurance on a fully-insured, non-participating, prospectively rated basis under the Plan through September 30, 2009, to existing CM Clients whose employees are enrolled in United group medical insurance under the Plan as of May 1, 2008.”

 

(b)                                 As of the date of this First Amendment, the first two sentences of Section 2.4(b) are hereby amended and restated as follows: “From May 1, 2008, through September 30, 2009, Gevity shall offer United group medical coverage under the Plan to its existing CM Clients whose employees are enrolled in United group medical insurance under the Plan as of May 1, 2008, on a non-participating, prospectively rated, fully insured basis, as described in Section 2.2 of this Agreement, subject to the following rules which shall apply, as stated below. [*].”

 

(c)                                  Through at least September 30, 2009, UnitedHealthcare shall provide group medical insurance on a fully-insured, non-participating, prospectively rated basis to Gevity corporate employees and dependents under the Plan, subject to availability. From the date hereof through September 30, 2009, Gevity shall exclusively offer to its corporate employees United group medical insurance, and shall not offer or provide medical coverage from any other insurer, to the extent that United makes available such coverage. Gevity and UnitedHealthcare shall agree on the plan designs and the needed renewal increases, if any, for medical coverage offered by United to Gevity’s corporate employees.

 


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