COBRA Premium Sample Clauses

COBRA Premium. If the Employee elects to receive COBRA benefits upon termination, the Company shall pay the premium for coverage of the Employee and the Employee’s eligible spouse and/or dependents under the Company’s group health plan(s) pursuant to the Consolidated Omnibus Budget Reconciliation Act for the one-year period beginning on the Termination Date.

COBRA Premium. If you timely elect to continue coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company will pay your COBRA premiums to continue your coverage (including coverage for your eligible dependents, if applicable) (“COBRA Premiums”) through the period starting on the Termination Date and ending six (6) months after Termination Date (the “COBRA Premium Period”); provided, however, that the Company’s provision of the COBRA Premium benefits will immediately cease if during the COBRA Premium Period you become eligible for group health insurance coverage through a new employer or you cease to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event you become covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), regardless of whether you or your dependents elect or are eligible for COBRA coverage, the Company instead shall pay to you, on the first day of each calendar month following the termination date, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for your eligible dependents), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You may, but are not obligated to, use such Special Cash Payments toward the cost of COBRA premiums. Payments of severance to you, in accordance with this Section 2, shall immediately cease, and no further payments shall be made, in the event that you materially breach the Proprietary Information, Inventions, and Confidentiality Agreement dated September 21, 2022 (“Confidentiality Agreement), attached hereto as Exhibit C (provided, however, that your right to future payments will be restored, and any omitted payments will be made to you promptly, if the Board of Directors of the Company (the “Board”) in its reasonable good faith judgment determines that such breach is curable, and you cure the breach to the reasonable satisfaction of the Board within 30 days of having been notified thereof). You agree to cooper...

COBRA Premium. As an additional severance benefit, and provided that you remain employed with Company through the Separation Date and timely elect continued coverage under COBRA, Company will pay your COBRA premiums to continue your coverage (including coverage for eligible dependents, if applicable) ("COBRA Premiums") for up to three (3) months through the period (the "COBRA Premium Period") starting on the date that Employee’s health insurance benefits end on or after the Separation Date and COBRA coverage begins, and ending on the earliest to occur of: (i) the last day of the month of the third month following the Separation Date; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason, including plan termination.

COBRA Premium. Provided that Employee timely elects COBRA, the Company shall pay Employee’s portion of the cost of the COBRA premium in the gross amount of $28,814.76 (“COBRA Premium Payment”), less all applicable deductions, which shall be payable in twenty-six equal installments on each of the Company’s regular by-weekly pay days, beginning with the first pay day after the Effective Date of this Agreement. Employee further understands and agrees that this COBRA Premium Payment is monetary consideration to which Employee would not otherwise be entitled if Employee did not sign this Agreement and it did not become effective.

COBRA Premium. Fortress covenants that it will pay on behalf of Xxx Xxxxx COBRA premiums as necessary to insure that Xxx Xxxxx, his wife, and minor dependents are covered under the Acquired Company's or Fortress', as the case may be, medical, dental, and vision insurance through March 31, 2002.

COBRA Premium. Based Payment. $68,896.00 (the “COBRA-Based Payment”), which is an amount equal to 24 times $2,829.00, which amount is equal to the monthly premium under COBRA that Executive would be required to pay to continue the group health, dental and vision coverage in effect on the Qualifying Termination Date for the Executive’s and the Executive’s eligible dependents, which payments shall be made regardless of whether Executive elects COBRA continuation coverage. Executive shall have no right to an additional gross-up payment to account for the fact that such COBRA premium amounts are paid on an after-tax basis. The COBRA-Based Payment shall be payable in 36 equal semi-monthly installments of $1,886.00 beginning in the first payroll period following the earlier to occur of (i) the expiration of the six (6)-month period measured from Executive’s Qualifying Termination Date or (ii) the date of Executive’s death following the Qualifying Termination Date.

COBRA Premium. As further consideration for XxXxxxxx’x execution of and compliance with this Agreement, the Company agrees to pay XxXxxxxx an amount equal to the current employer contribution for COBRA continuation coverage for family under the UMR High Deductible Plan with wellness benefit as if XxXxxxxx had remained an employee of the Company for eighteen (18) months after the Separation Date less all applicable federal, state, and local taxes and withholdings required by law, to help offset the cost of COBRA, as grossed-up (“COBRA Premium”).