Certain Benefits. During the six (6) months following the Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(l) of the Code; and (ii) the Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA.
Appears in 3 contracts
Samples: Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc)
Certain Benefits. During the six (6) months following the Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(l4980B(g)(1) of the Code; and (ii) the Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA.
Appears in 2 contracts
Samples: Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc)
Certain Benefits. During the six twelve (612) months following the Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(l4980B(g)(1) of the Code; and (ii) the Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA.
Appears in 1 contract
Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)
Certain Benefits. During the six twelve (612) months following the Involuntary Termination, the Company Company, at its cost, shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(l4980B(g)(1) of the Code; and (ii) the Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA.
Appears in 1 contract
Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)