Health Benefits Continuation. Continuation of group health plan benefits to the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as "COBRA"), with the cost of the regular premium for such benefits shared in the same relative proportion by the Company and you as in effect on the date of termination until the earlier of (i) the end of the Severance Period; or (ii) the date you become eligible for health benefits through another employer or otherwise become ineligible for COBRA ("Health Benefits Continuation Payments"). Notwithstanding the above, (x) in the event that the Severance Period extends beyond eighteen (18) months following your date of termination, or (y) if the Company otherwise determines in its sole discretion that it cannot provide the foregoing Health Benefits Continuation Payments without potentially violating applicable law (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), the Company shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the Company's portion of the monthly COBRA premium (as described above) that you would be required to pay to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each month regardless of whether COBRA continuation coverage remains available (i.e., in the event that the Severance Period extends beyond eighteen (18) months following your date of termination) and shall end on the earlier of (1) the end of the Severance Period, (2) the date you become eligible for health benefits through another employer or otherwise become ineligible for COBRA; or (3) the last day of the twenty-fourth (24th) calendar month following your termination date.
Health Benefits Continuation. Regardless of whether you execute this Agreement, you and your eligible dependents will continue to be covered under the Company’s health insurance plan if you elect COBRA coverage. Subject to your execution and non-revocation of this Agreement, if you do elect COBRA coverage, the Company will, in accordance with Section 3.3(d) of the Severance Plan, pay on your behalf that portion of the total COBRA premium such that you will be responsible for paying the same monthly premium as in effect immediately prior to the Separation Date for the first twelve (12) months of COBRA coverage. Notwithstanding the foregoing, if you subsequently become employed with a new employer that offers substantially similar group medical insurance coverage to its employees, or you otherwise become ineligible for COBRA continuation coverage, the benefits provided under this section 3 shall cease. You will be notified of your COBRA rights in due course by the Company.
Health Benefits Continuation. The Company shall pay to the Employee the product of: (A) the Company’s monthly COBRA premium in effect on the date of Separation from Service under the Company’s group health plan for the type of coverage in effect under such plan (e.g., family coverage) for the Employee on the date of Separation from Service, and (B) twelve (12), which shall be paid in a lump sum within sixty (60) days following the Employee’s Separation from Service.
Health Benefits Continuation. If the Executive’s employment is terminated as a result of Disability prior to the last day of the performance period for any PSUs (or other performance based awards) granted as part of any Annual Equity Grant, then the Executive shall be entitled to a pro-rata portion of such PSUs (or other awards), based upon actual performance through the end of the year during which the termination of employment occurs, with the number of PSUs (or other awards) earned, if any, to be prorated based on the number of days during the applicable performance period that the Executive was employed by the Company divided by the total number of days in such performance period. The achievement of the pre-determined metrics for the PSUs (or other awards) granted as part of any Annual Equity Grant will be determined by the Compensation Committee at the end of the year during which the Executive’s employment Active 15687861.1 11 terminated, and the earned PSUs (or other awards) granted as part of any Annual Equity Grant, after proration as described in the prior sentence, shall be paid no later than March 15 of the year following the year during which the Executive’s employment terminated. For purposes of this Agreement, the Executive shall be deemed to have a “Disability” if the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months, as supported by a written opinion of a physician and determined by the Company.
Health Benefits Continuation. If you timely and properly elect to receive benefits under COBRA, then the Company will pay all required premiums on a monthly basis for the same level of group healthcare coverage as in effect for you on the Separation Date until the earliest of the following: (i) the twelve (12)-month anniversary of the Separation Date; (ii) your eligibility for group healthcare coverage through other employment; or (iii) the cessation of your continuation rights under COBRA (the “Health Benefits Continuation Period”); provided, however, if the Company determines it cannot pay such amounts without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the Company will convert such payments to payroll payments directly to you for the time period specified above. Such payments shall be subject to tax- related deductions and withholdings and paid on the Company’s regular payroll dates. You agree to notify the Company promptly if you become eligible for group healthcare coverage through another employer. You may continue COBRA coverage after the end of the Health Benefits Continuation Period at your own expense for the remainder of the COBRA continuation period, subject to continued eligibility.
Health Benefits Continuation. If the Executive incurs a Severance-Triggering Termination and the Executive elects continuation coverage under the Company’s group health, dental and/or vision plans upon such Termination of Employment in accordance with the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”), the Company shall continue any employer contribution towards such elected coverages that it or the Parent then makes on behalf of other similarly situated executives until the last day of the month in which Executive’s severance benefit ends; provided, however, that the Executive shall be obligated to make any additional contributions towards such elected coverages in accordance with COBRA.
Health Benefits Continuation. Commencing on his or her Date of Employment Termination, and except as next provided, for the duration of the Benefits Continuation Period, the Executive shall be entitled to receive from the Company the same or equivalent health (including prescription), dental, and vision care coverages, at the same levels and coverages as Executive was receiving on the day immediately prior to his or her Date of Employment Termination. The Executive shall be required to pay no more for the above-mentioned benefits than he or she paid as an active employee, or if provided by the Company at no cost to the employee on the date immediately prior to the Executive’s Date of Employment Termination, the benefits shall continue to be made available to the Executive on this basis. With respect to any particular benefit, the benefit’s continuation described in this paragraph shall end earlier than the end of the Benefits Continuation Period as of the date the Executive (or in the case of dependent coverage, the Executive’s dependent), is eligible for the benefit under a plan, program or arrangement of a subsequent employer which provides a benefit that is substantially equivalent to the benefit being terminated.
Health Benefits Continuation. The Village agrees to provide continuation of health care benefits to members in the event an. officer is injured in the performance of his duties or who is taken sick as a result of the performance of his duties within the meaning of Section 207-C(I) of the General Municipal Law.
Health Benefits Continuation. HealthFlex Participants Only
Health Benefits Continuation. During the Consulting Period, you will continue your participation in the Company’s group health plan (to the extent permitted under applicable law and the terms of such plan) which covers you (and your eligible dependents) at the same cost to you as of immediately prior to the Effective Date; provided, however, that in the event continuation of such benefits is not permitted under such plan or applicable law and subject to your timely election of continued coverage under COBRA, the Company will pay the Company’s portion of your COBRA premiums, equal to the percentage of health premiums paid by the Company immediately prior your termination of employment. Such health plan continuation coverage or COBRA continuation coverage, as applicable, will end on the earliest to occur of: (A) the termination of your Consulting Services; (B) the date you become eligible for group health insurance coverage through a new employer; or (C) in the case of COBRA continuation coverage, the date you cease to be eligible for COBRA continuation coverage for any reason, including as a result of plan termination. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the such continuation period, you must immediately notify the Company of such event.
