Common use of COBRA Payments Clause in Contracts

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to the portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) eighteen (18) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and, thereafter, each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to the that portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) eighteen twelve (1812) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and, thereafter, and thereafter each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to the that portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) eighteen (18) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and, thereafter, and thereafter each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to the portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) eighteen twenty-four (1824) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and, thereafter, each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.