Common use of Additional Payments After Termination Clause in Contracts

Additional Payments After Termination. In the event that Executive’s employment is terminated under Agreement paragraphs 7(b) or (c), then Employers shall reimburse Executive an amount equal to the COBRA premium charged Executive for COBRA health continuation coverage for Executive and his eligible dependents for so long as Executive and his eligible dependents are entitled to receive COBRA continuation coverage from Employers under the applicable laws, rules and regulations governing COBRA. For purposes of this Agreement paragraph 7(g) and Executive’s right to elect continued coverage under Employers’ group health plan under COBRA, in the case of a termination of Executive’s employment with Employers under Agreement paragraphs 7(b) or (c), Executive’s “qualifying event” (within the meaning of Code Section 4980B(0)(3)) shall be deemed to occur as of the date that Employers’ obligation to provide continued health coverage as if he were an active employee under Agreement paragraphs 7(b) or (c) ends. To receive reimbursement under this Agreement paragraph 7(g), Executive must timely enroll in COBRA coverage.

Additional Payments After Termination. In the event that Executive’s employment is terminated under Agreement paragraphs 7(b) or (c), then Employers shall reimburse Executive an amount equal to the COBRA premium charged Executive for COBRA health continuation coverage for Executive and his her eligible dependents for so long as Executive and his her eligible dependents are entitled to receive COBRA continuation coverage from Employers under the applicable laws, rules and regulations governing COBRA. For purposes of this Agreement paragraph 7(g) and Executive’s right to elect continued coverage under Employers’ group health plan under COBRA, in the case of a termination of Executive’s employment with Employers under Agreement paragraphs 7(b) or (c), Executive’s “qualifying event” (within the meaning of Code Section 4980B(0)(3)) shall be deemed to occur as of the date that Employers’ obligation to provide continued health coverage as if he she were an active employee under Agreement paragraphs 7(b) or (c) ends. To receive reimbursement under this Agreement paragraph 7(g), Executive must timely enroll in COBRA coverage.