COBRA Subsidy. If Executive timely and properly elects continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall provide for the payment of the Executive’s monthly COBRA payment for Executive and any of the Executive’s dependents that were participating in in such plan immediately prior to Executive’s termination (the “COBRA Subsidy”). The Company shall provide the COBRA Subsidy until the earliest of: (i) the twenty-four (24) month anniversary of the Termination Date, or (ii) the date Executive is no longer eligible to receive COBRA continuation coverage. If the Company cannot provide the COBRA Subsidy without violating applicable law or is otherwise unable to continue to cover the Executive or the Executive’s dependents under its group health insurance plans, then the Company shall pay the Executive an equivalent monthly cash payment such that Executive receives, on an after-tax basis, the same amount reimbursement for COBRA benefits for a period of eighteen (18) months.
COBRA Subsidy. You and your COBRA qualifying beneficiaries will be entitled to COBRA continuation coverage at the active employee rates in effect on your Termination Date for the duration of your Severance Period. Thereafter, you will be entitled to continuation coverage at your own expense at the COBRA premium rates then in effect and only to the extent you and/or your COBRA qualifying beneficiaries remain eligible for COBRA coverage at that time.
COBRA Subsidy. Following your Separation Date, if you make a timely election under COBRA to continue the medical, vision, and/or dental benefits that were provided by Jabil immediately prior to your Separation Date, Jabil will subsidize Your full premiums (both company and employee-paid) for the first eighteen (18) months of such coverage, or until You become eligible for other health coverage, whichever is sooner (“COBRA Subsidy Period”). You must notify Jabil within five (5) calendar days of becoming eligible to enroll in another group health plan. After the COBRA Subsidy Period ends, You are solely responsible for paying the entire cost of the COBRA coverage premium.
COBRA Subsidy. If you participate in Terminix’s Health and Welfare Benefit Plan and elect to continue your medical coverage under the Plan pursuant to the Consolidated Omnibus Reconciliation Act (COBRA), you will receive a one-time lump sum payment of $10,000.00, which equals the difference between your monthly COBRA premiums and your premiums as an active employee for 12 months. This payment will be made on the first practicable regularly scheduled pay date after the Company receives notice of your election to continue coverage under COBRA.
COBRA Subsidy. Company will pay Employee a lump sum payment of $3,940.59, less applicable tax withholdings, which represents an amount equal to the Company's regular monthly premium toward the Employee's health and welfare benefits as of Employee's last day worked multiplied by twelve (12) months.
COBRA Subsidy. The Company will subsidize Executive’s health care continuation benefits for a certain period determined in accordance with the terms of the Separation Plan. The details of the COBRA subsidy are discussed at length in the included Separation Plan SPD.
COBRA Subsidy. A Flight Attendant who is awarded an Early Out Package and who is not eligible for retiree medical, shall have the option to elect COBRA continued medical coverage for up to 18 months, with the first three months subsidized at the Flight Attendant’s active co-worker rate. The Flight Attendant’s cost for the final 15 months shall be the full COBRA rate.
COBRA Subsidy. A payment equal to (1) the total amount of the COBRA continuation monthly premium rate that would otherwise be payable by you for such COBRA continuation for you and your eligible dependents as of your termination date, multiplied by (2) 36. The COBRA Subsidy shall be paid in a lump sum within 60 days after your termination of employment; provided that if the 60-day period begins in one calendar year and ends in a second calendar year, such amounts shall be paid in the second calendar year by the last day of such 60-day period.
COBRA Subsidy. If Employee timely and properly elects healthcare insurance continuation coverage under COBRA, timely pays the applicable COBRA premium directly to the COBRA administrator, and remits documentation of Employee’s payment of the applicable COBRA premium to Xxxxxxxxx XxXxxxx at Xxxxxxxxx.XxXxxxx@xxxxxxx.xxx, with a copy to Xxxx Xxxxxxxx at Xxxx.Xxxxxxxx@xxxxxxx.xxx, no later than thirty (30) days after Employee pays the applicable COBRA premium, then the Company shall reimburse Employee for the difference between the monthly COBRA premium paid by Employee for Employee and Employee’s dependents and the monthly premium amount paid by Employee for such coverage prior to the Separation Date (“COBRA Subsidy”). Such COBRA Subsidy shall be paid to Employee by the last day of each month immediately following the month in which Employee timely remits documentation to the Company evidencing the premium payment paid by Employee. Employee shall be eligible to receive such COBRA Subsidy until the earliest of: (i) the sixth (6th) month following the month in which the Separation Date occurs; (ii) the date Employee is no longer eligible to receive COBRA continuation coverage; and (iii) the date on which Employee becomes eligible to receive similar coverage from another employer or other source. Employee agrees to notify the Company immediately if Employee becomes covered by a group health plan of a subsequent employer.
COBRA Subsidy. In addition to the normal COBRA rights I have and in exchange for my signing this Agreement, the Company agrees to reimburse me COBRA coverage that I purchase until the earlier of eighteen (18) months or when I become eligible for group health insurance coverage through a new employer, provided that I timely elect continuation coverage. The reimbursement shall be in an amount equivalent to my current health plan costs.
