Executive Retirees Health And Life Insurance Plan

NEW ENGLAND ELECTRIC COMPANIES
EXECUTIVE RETIREES HEALTH AND LIFE INSURANCE PLAN


Established January 1, 1990
Amended and Restated January 1, 1996


NEW ENGLAND ELECTRIC SYSTEM
EXECUTIVE RETIREES HEALTH AND LIFE INSURANCE PLAN


TABLE OF CONTENTS


ARTICLE PAGE


ARTICLE I - INTRODUCTION
1.01. Purpose of Plan. . . . . . . . . . . . . . . . . . . . . . . 1
1.02. Plan Status. . . . . . . . . . . . . . . . . . . . . . . . . 1


ARTICLE II - DEFINITIONS
2.01. Executive Employee.. . . . . . . . . . . . . . . . . . . . . 2
2.02. Eligible Employee. . . . . . . . . . . . . . . . . . . . . . 2
2.03. NEES Companies Retirees Health and Life Insurance Plan.. . . 2
2.04. Participant. . . . . . . . . . . . . . . . . . . . . . . . . 2
2.05. Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2.06. Plan Date. . . . . . . . . . . . . . . . . . . . . . . . . . 2


ARTICLE III - PARTICIPATION
3.01. Eligibility. . . . . . . . . . . . . . . . . . . . . . . . . 2
3.02. Commencement of Participation. . . . . . . . . . . . . . . . 3
3.03. Cessation of Participation.. . . . . . . . . . . . . . . . . 3
3.04. Reinstatement of Former Participant. . . . . . . . . . . . . 3


ARTICLE IV - HEALTHCARE COVERAGE AND CONTRIBUTION
4.01. Coverage.. . . . . . . . . . . . . . . . . . . . . . . . . . 3
4.02. Description of Benefits. . . . . . . . . . . . . . . . . . . 4
4.03. Participant Contribution.. . . . . . . . . . . . . . . . . . 5
4.04. Employer Contribution. . . . . . . . . . . . . . . . . . . . 5


ARTICLE V - LIFE INSURANCE COVERAGE
5.01. Coverage.. . . . . . . . . . . . . . . . . . . . . . . . . . 5


ARTICLE VI - FUNDING
6.01. Funding. . . . . . . . . . . . . . . . . . . . . . . . . . . 6
6.02 Limitation of Employer Liability.. . . . . . . . . . . . . . 6


ARTICLE VII - AMENDMENT AND TERMINATION OF PLAN
7.01. Amendment and Termination of Plan. . . . . . . . . . . . . . 6


ARTICLE VIII - MISCELLANEOUS
8.01. Incorporation of Provisions by Reference.. . . . . . . . . . 7
8.02. Forfeiture of Benefits.. . . . . . . . . . . . . . . . . . . 7


EXECUTIVE RETIREES HEALTH AND LIFE INSURANCE PLAN


ARTICLE I - INTRODUCTION


1.01. Purpose of Plan. The purpose of this amended and restated Plan is to (1) provide postretirement health care benefits under the Medical Contracts and Medigap Contracts maintained by the Employers for certain retired Executive Employees and their Eligible Dependents (2) to provide reimbursement of Medicare Part B premiums to eligible Executive Employees and their Spouses, and (3) to provide life insurance coverage to eligible Executive Employees, as more fully described herein.


1.02. Plan Status. This written Plan document is intended to comply with all relevant provisions of the Code and ERISA and is to be interrupted in a manner consistent with the requirements of such laws including, but not limited to, Sections 601 through 609 of ERISA and Section 4980B of the Code. The Plan shall consist of this document, the Medical Contracts, the Medigap Contracts, the Insurance Contracts, and the plan document for the NEES Companies Retirees Health and Life Insurance Plan. The provisions of the Medical Contracts that are applicable to retired Employees, the provisions of the Medigap Contracts, the provisions of the Life Insurance Contracts, and applicable provision of the NEES Companies Retiree Health and Life Insurance Plan, are incorporated by reference into this Plan document.


ARTICLE II - DEFINITIONS


The definitions contained in the NEES Companies Retirees Health and Life Insurance Plan I, as amended from time to time, are hereby incorporated by reference into this Plan. In addition, the following terms have the meanings set forth below unless otherwise required by the context. In the event of a conflict between a definition found in the NEES Companies Retirees Health and Life Insurance Plan and one contained in this Plan, the definition found in this Plan shall control.


2.01. Executive Employee means any person, in the employ of an Employer, who qualified for participation i ...