Common use of Health Care Coverage Clause in Contracts

Health Care Coverage. The Company will, at its expense, continue to provide you and your eligible dependents with the Company’s paid portion of health care coverage under the Company’s medical/dental plan until the earlier of (i) the expiration of that number of months equal to one-half of the Severance Period measured from the first day of the first month following the effective date of your Involuntary Termination or (ii) the first date that you are covered under another employer’s health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such Health Care Coverage will be in lieu of any other continued health care coverage to which you or your dependents would otherwise be entitled at your own cost under Code Section 4980B by reason of your termination of employment.

Appears in 7 contracts

Samples: Severance Agreement (Crossroads Systems Inc), Severance Agreement (Crossroads Systems Inc), Severance Benefit Plan (Crossroads Systems Inc)

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Health Care Coverage. The Company will, at its expense, continue to provide you and your eligible dependents with the Company’s paid portion of continued health care coverage under the Company’s medical/dental plan until the earlier of (i) the expiration of that number of months equal to one-half of the Severance Period measured from the first day of the first month following the effective date of your Involuntary Termination or (ii) the first date that you are covered under another employer’s health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditionsconditions or (ii) the end of the severance payment period under Paragraph 1. Such Health Care Coverage will be in lieu of any other continued health care Any further coverage to which you or your dependents would otherwise may be entitled at during the remainder (if any) of your own cost COBRA coverage period under Internal Revenue Code Section 4980B by reason of will be at your termination of employmentsole expense.

Appears in 3 contracts

Samples: Severance Agreement (Versata Inc), Severance Agreement (Versata Inc), Severance Agreement (Versata Inc)

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Health Care Coverage. The Company will, at its expense, continue to provide you and your eligible dependents with the Company’s paid portion of continued health care coverage under the Company’s medical/dental plan in effect on the date of the occurrence of a Change in Control until the earlier of (i) the expiration of that number of months equal to onethe thirty-half of the Severance Period six (36) month period measured from the first day of the first month following the effective date of your Involuntary Termination or (ii) the first date that you are covered under another employer’s health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such Health Care Coverage will be in lieu of any other continued health care coverage to which you or your dependents would otherwise be entitled at your own cost under Code Section 4980B by reason of your termination of employment.

Appears in 1 contract

Samples: Severance Agreement (Portal Software Inc)

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