COBRA and HIPAA. The Parent Group shall continue to be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, and the corresponding provisions of the Parent Welfare Plans, with respect to (a) any Parent Employees or Former Parent Employees who incur a qualifying event under COBRA before, as of, or after the Effective Time and (b) any SpinCo Employees or Former SpinCo Employees who incur a qualifying event under COBRA before January 1, 2019. Effective as of January 1, 2019, the SpinCo Group shall be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, and the corresponding provisions of the SpinCo Welfare Plans with respect to any SpinCo Employees who incur a qualifying event or loss of coverage under the SpinCo Welfare Plans and/or the Parent Welfare Plans as of, or after January 1, 2019. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any purpose of COBRA. Each of SpinCo and Parent shall be permitted to amend and modify their respective Benefit Plans in a manner consistent herewith. The SpinCo Group shall reimburse the Parent Group for any Liabilities incurred by the Parent Group in connection with complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, and the corresponding provisions of the Parent Welfare Plans, with respect to any SpinCo Employees or Former SpinCo Employees in accordance with the terms of the Transition Services Agreement.
Appears in 4 contracts
Samples: Employee Matters Agreement (EQT Corp), Employee Matters Agreement (Equitrans Midstream Corp), Employee Matters Agreement (Equitrans Midstream Corp)
COBRA and HIPAA. The Parent Group shall continue to be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, and the corresponding provisions of the Parent Welfare Plans, with respect to (a) any Parent Employees or Former Parent Employees who incur a qualifying event under COBRA before, as of, or after the Effective Time and (b) any SpinCo Employees or Former SpinCo Employees who incur a qualifying event under COBRA before January 1, 2019. Effective as of January 1, 20192008, the SpinCo Group shall be responsible Welfare Plans assumed responsibility for complying with, and providing coverage pursuant to, compliance with the health care continuation coverage requirements of COBRA, and the corresponding provisions of the SpinCo Welfare Plans COBRA with respect to any SpinCo Employees Participants who, as of December 31, 2007, were covered under a RemainCo Welfare Plan pursuant to COBRA or who incur had a COBRA qualifying event or loss of coverage under the SpinCo Welfare Plans and/or the Parent Welfare Plans (as ofdefined in Code Section 4980B) prior to December 31, or after January 1, 20192007. The Parties hereto agree that neither the consummation Distribution nor any transfers of employment that occur as of the transactions contemplated by Distribution Date or otherwise in connection with the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any purpose purposes of COBRA. Each ; provided, that, in all events, (i) SpinCo (acting directly or through a member of the SpinCo and Parent Group) shall be permitted assume, or shall have caused the SpinCo Welfare Plans to amend and modify their respective Benefit Plans in a manner consistent herewith. The SpinCo Group shall reimburse the Parent Group assume, responsibility for any Liabilities incurred by the Parent Group in connection compliance with complying with, and providing coverage pursuant to, the health care continuation coverage requirements of COBRA, and the corresponding provisions of the Parent Welfare Plans, COBRA with respect to any the Transferred SpinCo Employees Participants to the extent each such individual was, as of the day prior to his or Former SpinCo Employees her transfer of employment, covered under a RemainCo Welfare Plan pursuant to COBRA or who had a COBRA qualifying event (as defined in accordance Code Section 4980B) prior to his or her transfer of employment, and (ii) RemainCo (acting directly or through a member of the RemainCo Group) shall assume, or shall have caused the RemainCo Welfare Plans to assume, responsibility for compliance with the terms health care continuation coverage requirements of COBRA with respect to the Transferred RemainCo Participants to the extent each such individual was, as of the Transition Services Agreementday prior to his or her transfer of employment, covered under a SpinCo Welfare Plan pursuant to COBRA or who had a COBRA qualifying event (as defined in Code Section 4980B) prior to his or her transfer of employment. RemainCo (acting directly or through a member of the RemainCo Group) shall be responsible for administering compliance with any certificate of creditable coverage requirements of HIPAA or Medicare applicable to the RemainCo Welfare Plans with respect to SpinCo Participants.
Appears in 4 contracts
Samples: Employee Matters Agreement (Hillenbrand, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Hill-Rom Holdings, Inc.)
