Health Benefit Payment. Subject to Section 13, on the sixtieth (60th) day following the Termination Date, a lump sum cash amount equal to the Severance Period multiplied by the full monthly cost of maintaining health, dental and vision benefits for the Executive (and the Executive’s spouse and eligible dependents) as of the Termination Date under a group health plan of the Company for purposes of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). Notwithstanding the foregoing, no provision of this Agreement will affect the continuation coverage rules under COBRA or any other applicable law.
Health Benefit Payment. The Company shall reimburse the Employee for payments to participate in any one U.S. health insurance plan and one U.S. dental plan (if not included in the U.S. Health Insurance Plan) for the benefit of the Employee and any spouse or dependents eligible under such plan in an amount of up to $1,800 per month; provided that if the Employee provides sufficient information for such payments, the Company will make such payments directly on the Employee’s behalf when due. Such amount shall not be cumulative, and if such payments are less than $1,800 per month, the difference shall not be available for future or prior months.
Health Benefit Payment. On January 5, 2004, the Company will pay Xxxxxxx Two Thousand Five Hundred Dollars ($2,500) as a health benefit payment, less applicable payroll and tax withholdings, by check payable to “Xxx Xxxxxxx”.
Health Benefit Payment. As additional consideration for entering into this Agreement and Release, Helix agrees that it will pay Xxxxxx'x continued health benefit coverage payment under Helix's health care plan, the Premera Blue Cross Plan (the "Blue Cross Plan"), for a period of up to three (3) months, to the extent allowed by the Blue Cross Plan. Xxxxxx understands and agrees that in order for him to be eligible for this continued coverage under the Blue Cross Plan, he is solely responsible for completing the Blue Cross Plan's application for such coverage. The continued coverage amounts described in this paragraph 5 will be paid directly to Helix's insurance carrier, and Helix agrees to pay the first monthly installment on December 1, 2003. No other payments under this paragraph 5 will be paid until after the Effective Date of this Agreement and Release. If any additional payments are due prior to the Effective Date for Xxxxxx'x continued health benefit coverage Xxxxxx is solely responsible for making such payment, subject to reimbursement as set forth in this paragraph 5. If, at any time during the three (3) month period described above, Xxxxxx secures equivalent benefits through another position, Helix's payment of Xxxxxx'x continued coverage (should any exist) will automatically cease. Xxxxxx agrees that he will promptly notify Helix in the event he obtains equivalent benefits through another position. In addition, in the event Helix discontinues health care coverage for its employees, any payments by Helix of Xxxxxx'x medical coverage will automatically cease. Nothing in this paragraph is intended to or does create any other rights or obligations of any kind on
Health Benefit Payment. Upon your timely election to continue your existing health benefits under COBRA, and consistent with the terms of COBRA and the Company’s health insurance plan, the Company will pay the insurance premiums to continue your existing health benefits until the earliest of: (a) 15 months following the Separation Date and (b) the date on which you and your covered dependents, if any, become eligible for healthcare coverage under another employer plan(s). You will remain responsible for, and must continue to pay, the portion of premiums, co-payments, etc. that you would have paid had your employment continued.
