Common use of COBRA Equivalent Clause in Contracts

COBRA Equivalent. Whether or not Executive elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a lump sum equal to the portion of the monthly cost of Executive’s group health plan coverage, as in effect on the Date of Termination, grossed up to cover Executive’s tax obligation, that is subsidized by the Company for similarly situated active employees as of the Date of Termination multiplied by six (6). The COBRA equivalent payment shall be made in a lump sum within sixty (60) days following the Date of Termination.

COBRA Equivalent. Whether or not Executive elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable lump sum equal to the portion of the monthly cost of Executive’s group health plan coverage, as in effect on the Date of Termination, grossed up to cover Executive’s tax obligation, that is subsidized by the Company for similarly situated active employees as of the Date of Termination multiplied by six (6). The COBRA equivalent payment shall be made in a lump sum within sixty (60) days following the Date of Termination.

COBRA Equivalent. Whether or not Executive elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable lump sum equal to the portion of the monthly cost of Executive’s group health plan coverage, as in effect on the Date of Termination, grossed up to cover Executive’s tax obligation, that is subsidized by the Company for similarly situated active employees as of the Date of Termination multiplied by six [twelve (12)][six (6)]. The COBRA equivalent payment shall be made in a lump sum within sixty (60) days following the Date of Termination.

COBRA Equivalent. Whether or not Executive elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable lump sum equal to the portion of the monthly cost of Executive’s group health plan coverage, as in effect on the Date of Termination, grossed up to cover Executive’s tax obligation, that is subsidized by the Company for similarly situated active employees as of the Date of Termination multiplied by six [eighteen (618)][twelve (12)]. The COBRA equivalent payment shall be made in a lump sum within sixty (60) days following the Date of Termination.