Continuation of Group Health Benefits. Company agrees to pay the premiums required to continue Executive's group health care coverage for 18 months after the date of Executive's termination, under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and the California Continuation Benefits Replacement Act ("Cal-COBRA"), provided that Executive elects to continue and remains eligible for these benefits under COBRA and Cal-COBRA and does not obtain health coverage through another employer during this period. Thereafter, Executive may continue group health insurance coverage at her own expense in accordance with the applicable provisions of COBRA or Cal-COBRA. If Executive's group health care coverage immediately prior to the date of termination of employment included Executive's dependents, Company paid COBRA premiums shall include premiums for such dependents.
Continuation of Group Health Benefits. The Company agrees to pay the premiums required to continue Employee’s group health care coverage for a period of twelve (12) months under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), provided that Employee elects to continue and remains eligible for these benefits under COBRA, and does not obtain health coverage through another employer during this period.
Continuation of Group Health Benefits. Executive will continue to receive group health insurance benefits on the same terms as during Executive’s employment for one year following the date of termination, provided Company’s insurance carrier allows for such benefits continuation. In the event Company’s insurance carrier does not allow such coverage continuation, Company agrees to pay the premiums required to continue Executive’s group health care coverage for the one-year period, under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), provided that Executive elects to continue and remains eligible for these benefits under COBRA, and does not obtain health coverage through another employer during this period.
Continuation of Group Health Benefits. With respect to any continuation of group health benefits to you or your dependents in connection with your termination of employment pursuant to Section 8 of this Agreement, you will pay the full cost for such group health coverage on an after-tax basis for each month that you elect to retain such coverage by payment of the monthly cost of such coverage as determined for purposes of health care continuation under Section 4980B of the Internal Revenue Code of 1986, as amended (the “COBRA Premium”). Within five (5) business days after the date of the effectiveness of the Release, the Company will make a payment to you equal to the number of full and partial months remaining in the calendar year in which your employment is terminated, multiplied by the difference between the COBRA Premium for such year and the monthly amount that you were required to pay for group health coverage immediately prior to your termination of employment. On each January 2 thereafter until the end of the twelve (12) month period, as applicable, if you have maintained group health coverage through the last day of the preceding calendar year, the Company will make a payment to you equal to the difference between the COBRA Premium and the monthly amount that you were required to pay for group health coverage immediately prior to the termination of your employment, multiplied by twelve (12), or, if the period of coverage is for less than a year, by the number of full and partial months remaining in the year until the end of the twelve (12) month period. Notwithstanding the foregoing, the period of coverage following the date of your termination of employment will be considered to be the period during which you will be eligible for continuation coverage under Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”). If this Agreement to provide group health benefits continuation results in any non-compliance with or impositions of penalties under the Patient Protection and Affordable Care Act or other applicable law, then the parties agree to modify this Agreement so that it complies with the terms of such laws.
Continuation of Group Health Benefits. Upon the Separation Date, Halozyme agrees to pay the premiums required to continue Employee’s group health care coverage from the day following the Separation Date through March 31, 2018 (“Premium Payment Period”), under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), provided that Employee elects to continue and remains eligible for these benefits under COBRA, and does not become eligible for health care coverage through another employer during this period. Employee agrees to provide Halozyme prompt notice no later than within two (2) business days of becoming eligible for such health care coverage though another employer. Notwithstanding the foregoing, if Halozyme determines, in its reasonable discretion, that the payment of the 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 paying the premiums, Halozyme, in its sole discretion, may elect to instead pay Employee on the first day of each month, a fully taxable cash payment equal to the premiums for that month, grossed-up to cover all applicable withholdings, so that the net benefit to Employee equals the monthly premiums (such amount, the “Special Separation Payment”), for the remainder of the Premium Payment Period. Employee may, but is not obligated to, use such Special Separation Payment toward the cost of COBRA premiums.
Continuation of Group Health Benefits. Provided that Employee elects to continue his group health care coverage pursuant to the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and remains eligible for these benefits, Company agrees to reimburse Employee for the COBRA premiums required to continue the group health care coverage for Employee and those dependents of Employee who were enrolled as participants in Company’s group health care coverage as of the Separation Date, for COBRA coverage through the twelve (12) month period following the Separation Date.
Continuation of Group Health Benefits. Provided that Employee elects to continue his group health care coverage pursuant to the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and remains eligible for these benefits, Company agrees to reimburse Employee for the COBRA premiums required to continue the group health care coverage for Employee and those dependents of Employee who were enrolled as participants in Company’s group health care coverage as of the Separation date, for COBRA coverage through April 30, 2014. To the extent Employee becomes eligible for group health care coverage from a subsequent employer during this period, Company shall have no obligation to provide further reimbursement under this Agreement. Employee agrees that Employee will immediately notify Company within one week of becoming eligible for group health care coverage through another employer.
Continuation of Group Health Benefits. The Company will pay the premiums required to continue your health care coverage for thirteen (13) months, beginning August 2012 through August 31, 2013, under the applicable provisions of COBRA, provided that you elect to continue and remain eligible for these benefits under COBRA, and do not obtain health coverage through another employer/entity during this period. COBRA coverage is not automatic; you must timely elect it. The Company cannot make the COBRA election for you. Please carefully review the COBRA information that will be sent to you via US mail.
Continuation of Group Health Benefits. For a period of eighteen (18) months following the Termination Date, the Company agrees to reimburse Executive for the cost of premiums to maintain the health insurance coverage currently in effect for Executive and his dependents. Company and Executive agree that (i) the current cost of such health insurance is $13,457 per annum, and (ii) the Company’s reimbursement obligations shall increase in the event that the cost of maintaining the existing health insurance coverage is increased by the insurer, subject to a maximum increase of fifteen percent (15%) during the eighteen (18) months reimbursement period. Other than health insurance reimbursement provided for above and except as may be required by applicable law or the specific terms of this Agreement, following the Termination Date, Executive shall be responsible for maintaining and paying for his own health, life, disability and/or other insurance benefits for himself and his dependents.
Continuation of Group Health Benefits. If Executive elects to continue coverage under the Company’s group health plan in accordance with the COBRA continuation coverage requirements, then the Company shall pay the full cost of such coverage for the period beginning immediately following Executive’s last day of employment and ending on the earlier of (A) the last day on which salary continuation payments are made to Executive pursuant to subparagraph (i) above or (B) the expiration of the COBRA coverage period.
