COBRA Premium Payments. Provided Executive and/or his dependents are eligible and timely elect to continue their healthcare coverage under the Company’s group health plan pursuant to their rights under COBRA, Employer will reimburse Executive for the costs Executive incurs to obtain such continued coverage for himself and his eligible dependents to the extent in excess of the premiums paid by Executive for such healthcare coverage with respect to the final month of his employment by the Company (collectively, the “Coverage Costs”) until the earlier of (a) the date when Executive becomes eligible for healthcare coverage provided through a subsequent employer, and (b) the twelve (12) month anniversary of the Termination Date. In order to obtain reimbursement for such Coverage Costs, Executive must submit appropriate evidence to Employer of each periodic payment within sixty (60) days after the payment date, and Employer shall within thirty (30) days after such submission reimburse Executive for that payment. During the period such medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement: (i) the amount of Coverage Costs eligible for reimbursement in any one calendar year of such Page 1 of 8 – Severance and General Release of All Claims Agreement coverage shall not affect the amount of Coverage Costs eligible for reimbursement in any other calendar year for which such reimbursement is to be provided hereunder; (ii) no Coverage Costs shall be reimbursed after the close of the calendar year following the calendar year in which those Coverage Costs were incurred; and (iii) Executive’s right to the reimbursement of such Coverage Costs cannot be liquidated or exchanged for any other benefit. To the extent the reimbursed Coverage Costs constitute taxable income to Executive, Employer shall report the reimbursement as taxable W-2 wages and collect the applicable withholding taxes, and any remaining tax liability shall be Executive’s sole responsibility. Executive acknowledges and agrees that the Severance Payment and Coverage Costs constitute new and adequate consideration to support the release set forth in paragraph 3 of this Agreement and are payments Executive was not previously entitled to receive.
COBRA Premium Payments. At Employer's full expense, continuation coverage for Executive and Executive's eligible dependent(s), existing as of the Termination Date, under Employer's group health plans, subject to the terms, conditions and election requirements of COBRA or applicable state law counterpart to COBRA ("PAID HEALTH PLAN COVERAGE"). Any additional period of post-termination health plan coverage to which Executive and Executive's dependents may be eligible under COBRA, or under a state law counterpart to COBRA, after expiration of COBRA Premium Benefits provided under this Section VII.B.1.b., shall be at Executive's full personal cost and expense.
COBRA Premium Payments. If you timely elect to continue group health coverage under COBRA, ITG will cover the cost for the first 12 month(s) of your COBRA coverage. Upon completion of the twelfth month of COBRA coverage, ITG will cease contributing towards the cost of the COBRA premium on your behalf. Thereafter, you will be responsible for the full cost of any further COBRA coverage. Notwithstanding the foregoing, in the event you become eligible for healthcare coverage through subsequent employment, ITG’s obligation to cover the cost for your COBRA premium on your behalf will cease as of the date of such eligibility and you will be responsible for the full cost of any COBRA coverage that is incurred by ITG after the date of such subsequent eligibility for healthcare coverage. You must immediately notify ITG of such eligibility by contacting Human Resources at 212.444.4222 or via email to XXX_XX@xxx.xxx as soon as you become aware of such eligibility.
COBRA Premium Payments. If you timely elect continued coverage under COBRA for you and your covered dependents under the Company’s group health plans following the Separation Date, then the Company shall pay the COBRA premiums necessary to continue you and your covered dependents’ health insurance coverage in effect for you (and your covered dependents) on the Separation Date until the earliest of: (i) twelve (12) months following the termination date; (ii) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason, including plan termination (such period from the Separation Date through the earlier of (i)-(iii), the “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that its payment of COBRA premiums on your behalf would result in a violation of applicable law (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 in lieu of paying COBRA premiums pursuant to this section, the Company shall pay you on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premium for such month, subject to applicable tax withholding, for the remainder of the COBRA Payment Period. Nothing in this Agreement shall deprive you of your rights under COBRA or ERISA for benefits under plans and policies arising under your employment by the Company.
COBRA Premium Payments. An amount each month for the first [twelve (12)] [eighteen (18)] months following the Executive's becoming entitled to COBRA Continuation Coverage for any reason as of the date of, or following, the Executive's Date of Termination, equal to the COBRA Monthly Premiums to provide the Executive (and any and all dependents of the Executive who are qualified beneficiaries) with COBRA Continuation Coverage.
COBRA Premium Payments. Subject to the terms and conditions provided for in the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and provided you have timely and properly elected COBRA coverage in accordance with the Company’s COBRA election procedures, the Company shall pay your group medical and dental insurance premiums at 100% during the Severance Period or until such earlier time as you (i) obtain alternate medical insurance or (ii) become ineligible for COBRA benefits. You agree promptly to notify the Company if and when you become eligible for alternate medical coverage during the Severance Period. Following the Severance Period, you shall be responsible for 100% of the COBRA premium should you elect to maintain this coverage.
COBRA Premium Payments. The Company also agrees that, subject to the terms and conditions of the applicable Company plans, if Employee timely elects COBRA benefits for medical, dental and/or vision benefits, and if Employee and Employee’s dependents are otherwise eligible, the Company will pay 100% of the medical, dental and/or vision contributions required for COBRA continuation coverage for the first nine (9) months following the calendar month in which Employee’s Termination Date occurs or until Employee becomes eligible for group insurance benefits from another employer, whichever occurs first. Employee agrees that any time before or during the period Employee is receiving the foregoing COBRA premium payments, Employee will inform the Company promptly in writing if Employee becomes eligible to receive group health coverage from another employer.
COBRA Premium Payments. Due to the pending dissolution of Employer, at the same time as the Severance Payment, the Employer will pay Employee a cash payment equal to the amount of Employee’s COBRA Premiums through October 1, 2024 subject to applicable tax withholding (such amount, the “Special Severance Payment”), such Special Severance Payment to be made without regard to your election of COBRA coverage or payment of COBRA premiums and without regard to your continued eligibility for COBRA coverage following the Separation Date.
COBRA Premium Payments. Echo will pay Xx. Xxxxxxxx’x full monthly COBRA premium for the period of six months following the Effective Date of this Agreement beginning on the first full calendar month following the Effective Date. Echo shall submit payment for Xx. Xxxxxxxx’x health insurance directly to its health insurance provider and for Xx. Xxxxxxxx’x dental insurance to Echo’s third party administrator, Health Services Administrator, on a timely basis. Echo further agrees that if Xx. Xxxxxxxx obtains health and dental coverage through a subsequent employer, it will pay him a cash payment equal to the amount that Xx. Xxxxxxxx’x COBRA premiums would have otherwise cost it through the remainder of the six month period (the “COBRA Stipend”). Xx. Xxxxxxxx agrees to immediately notify the Company in writing upon obtaining alternate coverage with another employer. Echo will pay this COBRA Stipend within ten (10) business days of the date that it receives notice from Xx. Xxxxxxxx that he has obtained alternate coverage.
COBRA Premium Payments. Executive expressly agrees to notify the CEO of the Company immediately upon starting New Employment, which has the same definition as in Paragraph 13(b)(ii); and (2) the accelerated vesting of all granted, but then unvested, RSUs and a one-time grant of fifty percent (50%) of the RSUs that would have been granted to Executive during the remainder of the Term, which such RSUs calculated as of the Separation Date.
