Common use of Benefits Payments Clause in Contracts

Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company shall continue to provide Executive medical insurance coverage at no cost to Executive to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s termination, until the earlier to occur of twelve (12) months following Executive’s termination date or the date Executive begins employment with another employer. Executive shall bear responsibility for applying for COBRA continuation coverage.

Appears in 6 contracts

Samples: Employment Agreement (Checkmate Pharmaceuticals, Inc.), Employment Agreement (Checkmate Pharmaceuticals, Inc.), Employment Agreement (Checkmate Pharmaceuticals, Inc.)

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Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company shall continue to provide Executive medical insurance coverage at no cost to Executive to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s termination, until the earlier to occur of twelve Twelve (12) months following Executive’s termination date or the date Executive begins employment with another employer. Executive shall bear responsibility for applying for COBRA continuation coverage.

Appears in 2 contracts

Samples: Employment Agreement (Checkmate Pharmaceuticals, Inc.), Executive Employment Agreement (Checkmate Pharmaceuticals, Inc.)

Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company shall continue to provide Executive medical insurance coverage at no cost to Executive to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s termination, until the earlier to occur of twelve (12) months following Executive’s termination date or the date Executive begins employment with elects to participate in the group health plan of another employer. Subject to the Company’s obligation under COBRA to provide timely notice, Executive shall bear responsibility for applying for COBRA continuation coverage.

Appears in 1 contract

Samples: Employment Agreement (Eyenovia, Inc.)

Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company shall continue to provide Executive medical health insurance coverage at no cost to Executive to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s termination, until the earlier to occur of twelve (12A) months following Executive’s termination date the last day of the Continuation Period or (B) the date Executive begins employment with elects to participate in the group health plan of another employer. Subject to Company’s obligation under COBRA to provide timely notice, Executive shall bear responsibility for applying for COBRA continuation coverage.

Appears in 1 contract

Samples: Executive Employment Agreement (Brain Scientific Inc.)

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Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay or reimburse Executive for the premiums charged to continue Executive’s medical coverage pursuant to provide COBRA, at the same or reasonably equivalent medical coverage for Executive medical insurance coverage at no cost to Executive (and, if applicable, Executive’s eligible dependents) as in effect immediately prior to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s terminationSeparation Date, until the earlier to occur of twelve eighteen (1218) months following Executive’s termination date the Separation Date or the date Executive begins employment with another employer. Executive shall bear responsibility for applying for COBRA continuation coverage.

Appears in 1 contract

Samples: Executive Employment Agreement (Myriad Genetics Inc)

Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company shall continue to provide Executive medical insurance coverage at no cost to Executive to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s termination, until the earlier to occur of twelve (12) months following Executive’s termination date or the date Executive begins employment becomes eligible for commencement of comparable benefits with another a subsequent employer. Executive shall bear responsibility for applying for COBRA continuation coverage. Company shall have no obligation to provide Executive such coverage if Executive fails to elect COBRA benefits in a timely fashion.

Appears in 1 contract

Samples: Executive Employment Agreement (Revolution Acceleration Acquisition Corp)

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