Common use of Continued Insurance Coverage Clause in Contracts

Continued Insurance Coverage. Subject to the provisions of this Section 4(a)(2), the Employee shall be entitled to one hundred percent (100%) Company-paid health, dental and life insurance coverage at the same level of coverage as was provided to such Employee immediately prior to the Change of Control (the "COMPANY-PAID COVERAGE"). If such coverage includes the Employee's dependents immediately prior to the Change of Control, such dependents shall also be covered at Company expense. Company-Paid Coverage shall continue until the earlier of (i) termination of the Consulting Arrangement or (ii) the date that the Employee and his or her dependents become covered under another employer's group health, dental or life insurance plans that provide Employee and his or her dependents with comparable benefits and levels of coverage. For purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 ("COBRA"), the date of the "qualifying event" for Employee and his or her dependents shall be the date upon which the Company-Paid Coverage terminates.

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Sync Research Inc), Change of Control Severance Agreement (Sync Research Inc), Change of Control Severance Agreement (Sync Research Inc)

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Continued Insurance Coverage. Subject to the provisions of this Section 4(a)(23(a)(2), the Employee shall be entitled to one hundred percent (100%) Company-paid health, dental and life insurance coverage at the same level of coverage as was provided to such Employee immediately prior to the Change of Control (the "COMPANYCompany-PAID COVERAGEPaid Coverage"). If such coverage includes the Employee's dependents immediately prior to the Change of Control, such dependents shall also be covered at Company expense. Company-Paid Coverage shall continue until the earlier of (i) termination of the Consulting Arrangement or (ii) the date that the Employee and his or her dependents become covered under another employer's group health, dental or life insurance plans that provide Employee and his or her dependents with comparable benefits and levels of coverage. For purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 ("COBRACobra"), the date of the "qualifying event" for Employee and his or her dependents shall be the date upon which the Company-Paid Coverage terminates.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Sync Research Inc), Change of Control Severance Agreement (Sync Research Inc)

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Continued Insurance Coverage. Subject to the provisions of this Section 4(a)(23(a)(2), the Employee shall be entitled to one hundred percent (100%) Company-paid health, disability, dental and life insurance coverage at the same level of coverage as was provided to such Employee immediately prior to the Change of Control Termination Date (the "COMPANYCompany-PAID COVERAGEPaid Coverage"). If such coverage includes the --------------------- Employee's dependents immediately prior to the Change of ControlTermination Date, such dependents shall also be covered at Company expense. Company-Paid Coverage shall continue until the earlier of (i) termination of the Consulting Arrangement or (ii) the date that the Employee and his or her dependents become covered under another employer's group health, dental or life insurance plans that provide Employee and his or her dependents with comparable benefits and levels of coverage. For purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 ("COBRACobra"), the date of the "qualifying event" for Employee and his or her ------- dependents shall be the date upon which the Company-Paid Coverage terminates.

Appears in 1 contract

Samples: Severance Agreement (Preview Travel Inc)

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