Common use of COBRA Payments Clause in Contracts

COBRA Payments. Upon the occurrence of a Triggering Event, if the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under the Company’s group health plans following the date of termination, then the Company will pay, as and when due to the insurance carrier or COBRA administrator (as applicable), the Executive’s COBRA premiums until the earliest of (A) the end of the Severance Period (B) the expiration of the Executive’s eligibility for the continuation coverage under COBRA, or (C) the date when the Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C), the “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiums, the Company will instead pay the Executive on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings for the remainder of the COBRA Payment Period. If the Executive becomes eligible for coverage under another employer's group health plan through self-employment or otherwise cease to be eligible for COBRA during the period provided in this clause, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will cease.

COBRA Payments. Upon the occurrence of a Triggering Event, if If the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under is participating in the Company’s group health insurance plans following on the date of terminationExecutive’s Separation from Service, and timely elects to continue such coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, or, if applicable, comparable state or local insurance laws (“COBRA”), then the Company will pay, directly to the COBRA carrier, as and when due due, the COBRA premiums necessary to continue such health insurance coverage for the insurance carrier or Executive and his eligible dependents (“COBRA administrator Continuation Payments”) until the earliest of: (as applicable), i) the first 9 months of COBRA coverage following the Executive’s COBRA premiums until the earliest of Separation from Service, (A) the end of the Severance Period (Bii) the expiration of the Executive’s eligibility for the continuation coverage under COBRACOBRA coverage, or (Ciii) the date when the Executive becomes or his dependents become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C)period, the “COBRA Payment Period”). Notwithstanding the foregoingHowever, if at any time the Company determines, in its sole discretion, that the Company’s payment of the COBRA premiums Continuation Payments would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act)) or otherwise result in a material penalty to the Company, then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiumsContinuation Payments for the remainder of the COBRA Payment Period, the Company will instead pay the Executive Executive, on the last first day of each remaining month of the remainder of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums Continuation Payments for that month, subject to applicable tax withholdings for the remainder of the COBRA Payment Periodwithholdings. If the Executive becomes eligible for coverage under another employer's ’s group health plan through self-employment or otherwise cease ceases to be eligible for COBRA during the period provided in this clauseCOBRA Payment Period, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will immediately cease.

COBRA Payments. Upon the occurrence of a Triggering Event, if If the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under is participating in the Company’s group health insurance plans following on the date of terminationthe Qualifying Termination, and timely elects to continue such coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, or, if applicable, comparable state or local insurance laws (“COBRA”), then the Company will pay, directly to the COBRA carrier, as and when due due, the COBRA premiums necessary to continue such health insurance coverage for the insurance carrier or Executive and his eligible dependents (“COBRA administrator Continuation Payments”) until the earliest of: (as applicable), i) the first 12 months of COBRA coverage following the Executive’s COBRA premiums until the earliest of Separation from Service, (A) the end of the Severance Period (Bii) the expiration of the Executive’s eligibility for the continuation coverage under COBRACOBRA coverage, or (Ciii) the date when the Executive becomes or his dependents become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C)period, the “COBRA Payment Period”). Notwithstanding the foregoingHowever, if at any time the Company determines, in its sole discretion, that the Company’s payment of the COBRA premiums Continuation Payments would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended (the “Code”) or any statute or regulation of similar effect (including including, but not limited to to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act)) or otherwise result in a material penalty to the Company, then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiumsContinuation Payments for the remainder of the COBRA Payment Period, the Company will instead pay the Executive Executive, on the last first day of each remaining month of the remainder of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums Continuation Payments for that month, subject to applicable tax withholdings for withholdings. In all cases, the remainder Company will make the first payment under this clause on the Initial Payment Date in an amount equal to the aggregate payments that the Company would have paid through such date had such payments commenced on the Separation from Service, with the balance of the COBRA Payment Periodpayments paid thereafter on the schedule described above. If the Executive becomes eligible for coverage under another employer's ’s group health plan through self-employment or otherwise cease ceases to be eligible for COBRA during the period provided in this clauseCOBRA Payment Period, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will immediately cease.

COBRA Payments. Upon the occurrence of a Triggering Event, if the Executive If you timely elects elect continued coverage under the health care continuation laws commonly known as COBRA for himself/herself yourself and his/her your covered dependents under the Company’s group health plans following the date of terminationdependents, then the Company will shall pay, directly to the COBRA carrier as and when due to the insurance carrier or COBRA administrator (as applicable)due, the Executive’s COBRA premiums necessary to continue your health insurance coverage in effect for yourself and your eligible dependents from your termination date until the earliest of (A) the end of the Severance Period Period, (B) the expiration of the Executive’s your eligibility for the continuation coverage under COBRA, or (C) the date when the Executive becomes you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C), the “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, determines that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiums, the Company will instead pay the Executive to you on the last first day of each remaining month of the remainder of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), for the remainder of the COBRA Payment Period. If the Executive becomes you become eligible for coverage under another employer's ’s group health plan through self-employment or otherwise cease to be eligible for COBRA during the period provided in this clause, the Executive you must immediately notify the Company of such event, and all payments and obligations under this clause will shall cease.

COBRA Payments. Upon the occurrence of a Triggering Event, if the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under the Company’s group health plans following the date of termination, then the Company will pay, as and when due to the insurance carrier or COBRA administrator (as applicable), the Executive’s COBRA premiums until the earliest of (A) the end of the Severance Period (B) the expiration of the Executive’s eligibility for the continuation coverage under COBRA, or (C) the date when the Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C), the “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiums, the Company will instead pay the Executive on the last day of ​ each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings for the remainder of the COBRA Payment Period. If the Executive becomes eligible for coverage under another employer's group health plan through self-employment or otherwise cease to be eligible for COBRA during the period provided in this clause, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will cease.

COBRA Payments. Upon Provided that you are eligible for and make the occurrence of necessary elections for continuation coverage pursuant to COBRA under a Triggering Eventgroup health, if the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under dental or vision plan sponsored by the Company’s group health plans following the date of termination, then the Company will pay, as and when due directly to the insurance carrier or COBRA administrator (as applicable)carrier, the Executive’s COBRA premiums necessary to continue your COBRA coverage for you and your eligible dependents from the Separation Date until the earliest to occur of (Ai) the end of the Severance Period one year after your Separation Date, (Bii) the expiration of the Executive’s your eligibility for the continuation coverage under COBRA, or and (Ciii) the date when the Executive becomes on which you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C)period, the “COBRA Payment Period”). Notwithstanding You agree to promptly notify the foregoing, if Company as soon as you become eligible for health insurance coverage in connection with new employment or self-employment. If at any time the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to including, without limitation, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation ActAct and any other subsequent amendments), then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiumsbenefit set forth above, the Company will instead pay the Executive you, on the last first day of each remaining month of the remainder of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings for the remainder of the COBRA Payment Period. If the Executive becomes eligible for coverage under another employer's group health plan through self-employment or otherwise cease to be eligible for COBRA during the period provided in this clause, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will ceasedeductions.

COBRA Payments. Upon the occurrence of a Triggering Event, if If the Executive timely elects continued coverage under COBRA for himself/herself and his/her covered dependents under is participating in the Company’s group health insurance plans following on the date of terminationthe Qualifying Termination, and timely elects to continue such coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, or, if applicable, comparable state or local insurance laws (“COBRA”), then the Company will pay, directly to the COBRA carrier, as and when due due, the COBRA premiums necessary to continue such health insurance coverage for the insurance carrier or Executive and his eligible dependents (“COBRA administrator Continuation Payments”) until the earliest of: (as applicable), i) the first 18 months of COBRA coverage following the Executive’s COBRA premiums until the earliest of Separation from Service, (A) the end of the Severance Period (Bii) the expiration of the Executive’s eligibility for the continuation coverage under COBRACOBRA coverage, or (Ciii) the date when the Executive becomes or his dependents become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (such period from the termination date through the earliest of (A) through (C)period, the “COBRA Payment Period”). Notwithstanding the foregoingHowever, if at any time the Company determines, in its sole discretion, that the Company’s payment of the COBRA premiums Continuation Payments would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act)) or otherwise result in a material penalty to the Company, then provided the Executive remains eligible for reimbursement in accordance with this Section, in lieu of providing the COBRA premiumsContinuation Payments for the remainder of the COBRA Payment Period, the Company will instead pay the Executive Executive, on the last first day of each remaining month of the remainder of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums Continuation Payments for that month, subject to applicable tax withholdings for withholdings. In all cases, the remainder Company will make the first payment under this clause on the Initial Payment Date in an amount equal to the aggregate payments that the Company would have paid through such date had such payments commenced on the Separation from Service, with the balance of the COBRA Payment Periodpayments paid thereafter on the schedule described above. If the Executive becomes eligible for coverage under another employer's ’s group health plan through self-employment or otherwise cease ceases to be eligible for COBRA during the period provided in this clauseCOBRA Payment Period, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will immediately cease.