Common use of COBRA Payments Clause in Contracts

COBRA Payments. Upon completion of the appropriate COBRA forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s participation in the Company’s health and dental insurance plans at the Company’s cost (except for Executive’s co-pay, if any, which shall be deducted from Executive’s severance compensation) for the twelve (12) months following Executive’s date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 4 contracts

Samples: Severance and Change of Control Agreement (Synta Pharmaceuticals Corp), Severance and Change of Control Agreement (Synta Pharmaceuticals Corp), Severance and Change of Control Agreement (Synta Pharmaceuticals Corp)

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COBRA Payments. Upon completion of the appropriate COBRA forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s participation in the Company’s health and dental insurance plans at the Company’s cost (except for Executive’s co-pay, if any, which shall be deducted from Executive’s severance compensation) for the twelve (12) months 18 month COBRA eligibility period following Executive’s date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 3 contracts

Samples: Severance and Change in Control Agreement (Altus Pharmaceuticals Inc.), Severance and Change in Control Agreement (Altus Pharmaceuticals Inc.), Severance and Change in Control Agreement (Altus Pharmaceuticals Inc.)

COBRA Payments. Upon completion of the appropriate COBRA COBRA(1) forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s participation in the Company’s health and dental insurance plans at the Company’s cost (except for Executive’s co-pay, if any, which shall be deducted from Executive’s severance compensation) for the twelve six (126) months following Executive’s date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 2 contracts

Samples: Severance and Change of Control Agreement (Synta Pharmaceuticals Corp), Severance and Change of Control Agreement (Synta Pharmaceuticals Corp)

COBRA Payments. Upon completion of the appropriate COBRA COBRA(1) forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s participation in the Company’s health and dental insurance plans at the Company’s cost (except for Executive’s co-pay, if any, which shall be deducted from Executive’s severance compensation) for the twelve three (123) months following Executive’s date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 2 contracts

Samples: Severance and Change of Control Agreement (Synta Pharmaceuticals Corp), Severance and Change of Control Agreement (Synta Pharmaceuticals Corp)

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COBRA Payments. Upon completion of the appropriate COBRA COBRA(1) forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s 's participation in the Company’s 's health and dental insurance plans at the Company’s 's cost (except for Executive’s 's co-pay, if any, which shall be deducted from Executive’s 's severance compensation) for the twelve six (126) months following Executive’s 's date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s 's group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 1 contract

Samples: Severance and Change of Control Agreement (Synta Pharmaceuticals Corp)

COBRA Payments. Upon completion of the appropriate COBRA forms, and subject to all the requirements of COBRA, the Company shall continue Executive’s 's participation in the Company’s 's health and dental insurance plans at the Company’s 's cost (except for Executive’s 's co-pay, if any, which shall be deducted from Executive’s 's severance compensation) for the twelve (12) months following Executive’s 's date of termination, to the same extent that such insurance is provided to similarly situated Company executives, provided that this benefit will cease and the Company will be under no obligation to provide it if Executive has become eligible for coverage under another employer’s 's group coverage, and Executive hereby agrees to notify the Company promptly and in writing should that occur.

Appears in 1 contract

Samples: Severance and Change of Control Agreement (Synta Pharmaceuticals Corp)

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