Continuation of Health Insurance Coverage. The company agrees to pay for the employee’s group health insurance coverage for the first 6 months after separation (beginning November 1, 2015) if the Employee timely elects and remains eligible for this coverage. After that, the parties agree that a qualifying event shall occur for purposes of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and that thereafter Employee will be eligible to elect COBRA continuation coverage in accordance with applicable federal law.
Appears in 3 contracts
Samples: Severance Agreement and Release of Claims (Millennial Media Inc.), Severance Agreement and Release of Claims (Millennial Media Inc.), Severance Agreement and Release of Claims (Millennial Media Inc.)
Continuation of Health Insurance Coverage. The company agrees to pay for the employee’s group health insurance coverage for the first 6 12 months after separation (beginning November 1, 2015) if the Employee timely elects and remains eligible for this coverage. After that, the parties agree that a qualifying event shall occur for purposes of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and that thereafter Employee will be eligible to elect COBRA continuation coverage in accordance with applicable federal law.
Appears in 1 contract
Samples: Severance Agreement and Release of Claims (Millennial Media Inc.)
