1996-242 (2) - Laserfiche WebLink

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1. The Employer's failure to provide adequate funds, as set in Exhibit "B", as necessary for the payment of claims pursuant to the Group Health Plan; 2. The Employer's failure to pay any administrative fees or late penalty as set forth in Exhibit "B" of this Agreement; 3. The Employer's failure to maintain the reserve requirement as set forth in Exhibit "B"; 4. The Employer ceases to maintain a Group Health Plan; 5. The Employer modifies the Group Health Plan without the prior written consent of the Administrator; 6. At any time the Administrator has reasonable grounds for insecurity with respect to the Employer's financial ability to adequately fund the Group Health Plan, and the Employer has failed to immediately provide adequate assurances of financial soundness to the Administrator; 7. At any time any judicial or regulatory body determines that this Agreement, or any provision of this Agreement, is invalid or illegal, or that this arrangement constitutes an insurance policy or program which is subject to state and/or federal insurance regulations and/or taxation; 8. At any time the Employer otherwise materially breaches this Agreement. 4.5 Rights and Responsibilities Upon Termination. In the event of termination of this Agreement, the Employer will immediately notify each covered group member of the termination date. Termination of this Agreement for any reason shall not affect the rights or obligations of either party which arise prior to the date of termination. SECTION V LEGAL ACTION: INDEMNIFICATION 5.1 Standard of Care. The Administrator and the Employer shall each use the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the 960904.1 8 A1/4..414 MISMINSMILIEMIUMINK