Compliance with Affordable Care Act. Notwithstanding the foregoing, if at any time the Company determines in its reasonable discretion that the payment of any COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended, 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 in lieu of providing the COBRA premiums, the Company will instead pay Executive a fully taxable cash payment equal to the COBRA premiums for the remainder of the designated period, subject to applicable tax withholdings.
Appears in 5 contracts
Samples: Executive Employment Agreement (Eyenovia, Inc.), Executive Employment Agreement (Eyenovia, Inc.), Executive Employment Agreement (Eyenovia, Inc.)
