Health Benefit Payments. Until the first (1st) anniversary of the date of Executive’s termination of employment, the Company shall provide to Executive a monthly payment equal to the applicable COBRA or Cal-COBRA premium to continue group health coverage for Executive and Executive’s eligible dependents under the Company’s group health plans as in effect from time to time, which payment shall be paid in advance on the first payroll date of each month, commencing with the month immediately following Executive’s date of termination; provided, however, that any such payments otherwise payable to Executive within the first sixty (60) calendar days following Executive’s date of termination shall not be paid on the otherwise scheduled payment date but shall instead accumulate and be paid on the first payroll date coincident with or next following the date that is sixty (60) calendar days following Executive’s date of termination (the payments provided in this Section 2(b) are referred to herein as the “Health Benefit Payments”). Subject to (i) Executive’s timely election of COBRA and Cal-COBRA coverage, as applicable, and (ii) Executive’s continued payment of premiums for such coverage, Executive shall also be entitled to continue group health coverage for Executive and Executive’s dependents under the Company’s group health plans as provided under applicable federal and state law.
Health Benefit Payments. Until the first (1st) anniversary of the date of Executive’s termination of employment, the Company shall pay to Executive the Health Benefit Payments at the same time and in the same form as set forth in Section 2(b) above. Subject to (i) Executive’s timely election of COBRA and Cal-COBRA coverage, as applicable, and (ii) Executive’s continued payment of premiums for such coverage, Executive shall also be entitled to continue group health coverage for Executive and Executive’s dependents under the Company’s group health plans as provided under applicable federal and state law.
