Common use of Continued Benefits Coverage Clause in Contracts

Continued Benefits Coverage. If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of twelve (12) months from the date of termination, (B) the date on which Executive is no longer eligible for COBRA coverage or (C) the date on which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy; provided, however, Executive must submit proof of payment within thirty (30) days of paying the applicable premium. Notwithstanding the first sentence of this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence in the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to twelve (12) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

Continued Benefits Coverage. If Subject to (x) the expiration of the Revocation Period (as defined in Section 4.2 below), without revocation of the General Release by Executive, (y) Executive’s continued compliance with the Restrictive Covenants, and (z) the terms of any applicable plan documents and the remaining provisions of this Section 2.3, FDC shall provide Executive elects continuation (and his dependents) for a twenty-four month period following the Separation Date (such period, the “Continued Coverage Period”) with all welfare benefits coverage pursuant which Executive (or his dependents) was participating in or receiving as of the Separation Date. The cost to Executive of such coverage and the terms and conditions of such coverage during the Continued Coverage Period shall be the same as those applicable to similarly situated active employees during such period. Notwithstanding the foregoing, after the expiration of the first 12 months of the Continued Coverage Period, Executive (and his dependents) shall lose FDC–sponsored group health coverage unless a timely election is made for continued group health coverage under the Consolidated Omnibus Budget Reconciliation Act of 19851986, as amended (“COBRA”) within ). FDC shall pay to Executive, as an additional amount, a lump sum amount approximately equal to the time period prescribed pursuant difference in cost between COBRA premiums and active employee premiums for 12 months of COBRA coverage calculated by FDC in its discretion as of the Separation Date, which payment shall constitute taxable income to COBRA for Executive and Executive’s eligible dependents, then which shall be paid no later than the Company will reimburse 30th day following the expiration of the first 12 months of the Continued Coverage Period. Executive for shall also be entitled to receive during the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of twelve (12) months from the date of termination, (B) the date on Continued Coverage Period any financial planning benefits which Executive is no longer eligible for COBRA coverage or (C) was receiving as of the date on which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will Separation Date, but shall not be made by the Company entitled to Executive consistent with the Company’s normal expense reimbursement policy; provided, however, Executive must submit proof of payment within thirty (30) days of paying the applicable premiumreceive any other perquisites after such date. Notwithstanding the first sentence of foregoing, Executive’s continued benefits coverage under this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 3.2 shall cease as of the Public Health Service Act), the Company will in lieu thereof provide date Executive becomes eligible to Executive receive such benefits under a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executivesubsequent employer’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence in the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to twelve (12) paymentsbenefit programs. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may Executive shall not be used for any purpose, including, but not limited eligible to continuation coverage under COBRA, and will be subject continue contributions to all applicable tax withholdingsFDC’s qualified retirement plans or nonqualified deferred compensation program.