Common use of COBRA Payments Clause in Contracts

COBRA Payments. Subject to your having timely elected under the federal law known as “COBRA” to continue participation in the Company’s group medical, dental and vision plans for yourself and those individuals who were your eligible dependents immediately prior to the earlier of the Transition Date or your Termination Date, and subject to your making the required payments of the applicable COBRA premium, the Company will make monthly payments (“COBRA Payments”) in an amount equal to the difference between the monthly cost of such COBRA continuation coverage and the premium cost to you of participation in such group medical, dental and vision plans had you remained in active employment. Provided you continue to pay the applicable COBRA premiums, such monthly COBRA Payments shall continue until the earlier of (a) nine (9) months from the earlier of your Transition Date or your Termination Date or (b) the date you (or in the case of your dependents, your dependents) become eligible for coverage under the medical, dental and/or vision plan of another employer (or in the case of your dependents, cease to be eligible for COBRA continuation coverage).

Appears in 2 contracts

Samples: Transition Agreement (Green Mountain Coffee Roasters Inc), Transition Agreement (Green Mountain Coffee Roasters Inc)

AutoNDA by SimpleDocs

COBRA Payments. Subject to your having timely elected under the federal law known as “COBRA” to continue participation in the Company’s group medical, dental and vision plans for yourself and those individuals who were your eligible dependents immediately prior to the earlier of the Transition Date or your Termination Date, and subject to your making the required payments of the applicable COBRA premium, the Company will make monthly payments (“COBRA Payments”) in an amount equal to the difference between the monthly cost of such COBRA continuation coverage and the premium cost to you of participation in such group medical, dental and vision plans had you remained in active employment. Provided you continue to pay the applicable COBRA premiums, such monthly COBRA Payments shall continue until the earlier of (a) nine twelve (912) months from the earlier of your Transition Date or your Termination Date or (b) the date you (or in the case of your dependents, your dependents) become eligible for coverage under the medical, dental and/or vision plan of another employer (or in the case of your dependents, cease to be eligible for COBRA continuation coverage).

Appears in 2 contracts

Samples: Transition Agreement (Keurig Green Mountain, Inc.), Transition Agreement (Keurig Green Mountain, Inc.)

COBRA Payments. Subject to your having timely elected under the federal law known as “COBRA” to continue participation in the Company’s group medical, medical and dental and vision plans for yourself and those individuals who were your eligible dependents immediately prior to the earlier of the Transition Date or your Termination Date, and subject to your making the required payments of the applicable COBRA premium, the Company will make monthly payments (“COBRA Payments”) in an amount equal to the difference between the monthly cost of such COBRA continuation coverage and the premium cost to you of participation in such group medical, medical and dental and vision plans had you remained in active employment. Provided you continue to pay the applicable COBRA premiums, such monthly COBRA Payments shall continue until the earlier of (a) nine (9) 12 months from the earlier of your the Transition Date or your Termination Date or (b) the date you (or in the case of your dependents, your dependents) become eligible for coverage under the medical, medical and/or dental and/or vision plan of another employer (or in the case of your dependents, cease to be eligible for COBRA continuation coverage).;

Appears in 1 contract

Samples: Transition Agreement (Green Mountain Coffee Roasters Inc)

AutoNDA by SimpleDocs

COBRA Payments. Subject to your having timely elected under the federal law known as “COBRA” to continue participation in the Company’s group medical, medical and dental and vision plans for yourself and those individuals who were your eligible dependents immediately prior to the earlier of the Transition Date or your Termination Date, and subject to your making the required payments of the applicable COBRA premium, the Company will make monthly payments (“COBRA Payments”) in an amount equal to the difference between the monthly cost of such COBRA continuation coverage and the premium cost to you of participation in such group medical, medical and dental and vision plans had you remained in active employment. Provided you continue to pay the applicable COBRA premiums, such monthly COBRA Payments shall continue until the earlier of (a) nine (9) 12 months from the earlier of your the Transition Date or your Termination Date or (b) the date you (or in the case of your dependents, your dependents) become eligible for coverage under the medical, medical and/or dental and/or vision plan of another employer (or in the case of your dependents, cease to be eligible for COBRA continuation coverage).

Appears in 1 contract

Samples: Transition Agreement (Green Mountain Coffee Roasters Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!