Common use of Group Medical Coverage Clause in Contracts

Group Medical Coverage. For a thirty-six (36) month period after the Executive’s CIC Termination or a twenty-four (24) month period after the Executive’s Non-CIC Termination, as applicable, Executive may elect to continue, under the terms prevailing from time to time, group medical and dental coverage for himself and his covered dependents. If Executive elects such coverage, Executive’s share of any group medical and dental premiums will be at the then-prevailing active employee rate. Failure to pay the premium will result in loss of the coverage. Executive agrees and understands that his rights under Code Section 4980B which sets forth certain COBRA continuation coverage requirements will run concurrently with the period of coverage under this Section 2.3.1. Following the period of coverage under this Section 2.3.1, Executive may continue medical and dental coverage for any remaining COBRA period only by electing COBRA coverage and paying the applicable premiums under COBRA. Medical benefits otherwise receivable by the Executive pursuant to this Section 2.3.1 shall be reduced to the extent the Executive obtains comparable coverage under another employer’s plan during the 36-month or 24-month period, as applicable following the Executive’s termination. The Executive agrees to immediately report such other coverages to the Company.

Group Medical Coverage. For a thirtytwenty-six four (3624) month period after the Executive’s CIC Termination or a twenty-four twelve (2412) month period after the Executive’s Non-CIC Termination, as applicable, Executive may elect to continue, under the terms prevailing from time to time, group medical and dental coverage for himself and his covered dependents. If Executive elects such coverage, Executive’s share of any group medical and dental premiums will be at the then-prevailing active employee rate. Failure to pay the premium will result in loss of the coverage. Executive agrees and understands that his rights under Code Section 4980B which sets forth certain COBRA continuation coverage requirements will run concurrently with the period of coverage under this Section 2.3.1. Following the period of coverage under this Section 2.3.1, Executive may continue medical and dental coverage for any remaining COBRA period only by electing COBRA coverage and paying the applicable premiums under COBRA. Medical benefits otherwise receivable by the Executive pursuant to this Section 2.3.1 shall be reduced to the extent the Executive obtains comparable coverage under another employer’s plan during the 3624-month or 2412-month period, as applicable applicable, following the Executive’s termination. The Executive agrees to immediately report such other coverages to the Company.

Group Medical Coverage. For a thirtytwenty-six (36four ( 24) month period after the Executive’s CIC Termination or a twenty-four twelve (2412) month period after the Executive’s Non-CIC Termination, as applicable, Executive may elect to continue, under the terms prevailing from time to time, group medical and dental coverage for himself and his covered dependents. If Executive elects such coverage, Executive’s share of any group medical and dental premiums will be at the then-prevailing active employee rate. Failure to pay the premium will result in loss of the coverage. Executive agrees and understands that his rights under Code Section 4980B which sets forth certain COBRA continuation coverage requirements will run concurrently with the period of coverage under this Section 2.3.1. Following the period of coverage under this Section 2.3.1, Executive may continue medical and dental coverage for any remaining COBRA period only by electing COBRA coverage and paying the applicable premiums under COBRA. Medical benefits otherwise receivable by the Executive pursuant to this Section 2.3.1 shall be reduced to the extent the Executive obtains comparable coverage under another employer’s plan during the 3624-month or 2412-month period, as applicable applicable, following the Executive’s termination. The Executive agrees to immediately report such other coverages to the Company.