Common use of Health Coverage Clause in Contracts

Health Coverage. If Executive is entitled to the Severance Payment under Section 2(b), the Company shall reimburse Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) until the earlier of the date that: (i) Executive becomes covered by health coverage offered by another employer that does not have a preexisting condition limitation or exclusion with respect to the Executive, or (ii) Is eighteen months (18) months after the Termination Date. As long as the Company’s group health plan is fully insured, the Company will provide coverage to the Executive on a tax-free basis in accordance with this Section 2(f). If the health plan is or becomes self-insured, the Executive will be required to purchase the COBRA coverage in accordance with the terms of the plan and the Company will, subject to Sections 2(g) and (h), reimburse the Executive for the premiums paid in accordance with this Section 2(f) on an after-tax basis. Such reimbursements will be made, subject to Sections 2(g) and (h), within five (5) business days after delivery of Executive’s written requests for payment, accompanied by such evidence of payment of the COBRA premiums as the Company may reasonably require, provided, however, that any such reimbursement shall be for expenses incurred during the period of subsidized coverage provided in this Section 2(f) and that such reimbursements shall be made no later than December 31 of the Executive’s taxable year following the taxable year in which the premiums were paid by the Executive. In no event will the amount of expenses eligible for reimbursement under this Section 2(f) by the Company in one year affect the amount of expenses eligible for reimbursement under this Section 2(f) to be provided in any other taxable year.

Health Coverage. If Executive is entitled to the Severance Payment under Section 2(b), the Company shall reimburse Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) until the earlier of the date that: (i) Executive becomes covered by health coverage offered by another employer that does not have a preexisting condition limitation or exclusion with respect to the Executive, or (ii) Is eighteen months twelve (1812) months after the Termination Date. As long as the Company’s group health plan is fully insured, the Company will provide coverage to the Executive on a tax-free basis in accordance with this Section 2(f); provided, however, that if the Company determines that it cannot provide the foregoing COBRA subsidy without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then, subject to Sections 2(g) and 2(h), the Company shall in lieu thereof pay to Executive a lump-sum payment on the sixty-first (61st) day after Executive’s Termination Date in an amount equal to the product of (A) the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage as in effect on the date of Executive’s termination of employment and (B) 12. If the health plan is or becomes self-insured, the Executive will be required to purchase the COBRA coverage in accordance with the terms of the plan and the Company will, subject to Sections 2(g) and (h), reimburse the Executive for the premiums paid in accordance with this Section 2(f) on an after-tax basis. Such reimbursements will be made, subject to Sections 2(g) and (h), within five (5) business days after delivery of Executive’s written requests for payment, accompanied by such evidence of payment of the COBRA premiums as the Company may reasonably require, provided, however, that any such reimbursement shall be for expenses incurred during the period of subsidized coverage provided in this Section 2(f) and that such reimbursements shall be made no later than December 31 of the Executive’s taxable year following the taxable year in which the premiums were paid by the Executive. In no event will the amount of expenses eligible for reimbursement under this Section 2(f) by the Company in one year affect the amount of expenses eligible for reimbursement under this Section 2(f) to be provided in any other taxable year.

Health Coverage. If Executive is entitled to the Severance Payment under Section 2(b), the Company shall reimburse Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“"COBRA”") until the earlier of the date that: (i) Executive becomes covered by health coverage offered by another employer that does not have a preexisting condition limitation or exclusion with respect to the Executive, or (ii) Is eighteen months (18) months after the Termination Date. As long as the Company’s 's group health plan is fully insured, the Company will provide coverage to the Executive on a tax-free basis in accordance with this Section 2(f2(e). If the health plan is or becomes self-insured, the Executive will be required to purchase the COBRA coverage in accordance with the terms of the plan and the Company will, subject to Sections 2(g) and (h), reimburse the Executive for the premiums paid in accordance with this Section 2(f2(e) on an after-tax basis. Such reimbursements will be made, subject to Sections 2(g) and (h), within five (5) business days after delivery of Executive’s 's written requests for payment, accompanied by such evidence of payment of the COBRA premiums as the Company may reasonably require, provided, however, that any such reimbursement shall be for expenses incurred during the period of subsidized coverage provided in this Section 2(f2(e) and that such reimbursements shall be made no later than December 31 of the Executive’s 's taxable year following the taxable year in which the premiums were paid by the Executive. In no event will the amount of expenses eligible for reimbursement under this Section 2(f2(e) by the Company in one year affect the amount of expenses eligible for reimbursement under this Section 2(f2(e) to be provided in any other taxable year.

Health Coverage. If Executive the Employee is entitled to the a Severance Payment under Section 2(b2(a), the Company shall also pay for or reimburse Executive the Employee for the full employer’s portion of the cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 1985 (“COBRA”) until the earlier of the date that: that (i) Executive the Employee becomes covered by comparable health coverage coverage, offered by another employer that does not have a preexisting condition limitation employer, or exclusion with respect to the Executive, or (ii) Is eighteen months (18) is 36 months after the Termination Datedate of termination of Employee’s employment. As long as While the Company is providing COBRA coverage and paying its portion of the premium costs, the Employee shall continue to be responsible to pay for the cost of the employee portion of COBRA coverage (with such employee portion to be equal to the rates charged to active employees). The Company’s obligation to continue to provide health coverage pursuant to this Section 2(b) shall not be relieved merely because the legally required minimum period for providing COBRA continuation coverage is for a shorter period than 36 months. In the event of a Qualifying Termination and notwithstanding anything to the contrary herein or in the Employment Agreement, Employee may elect to receive either (x) the group health plan is fully insuredcontinuation coverage under this Section 2(b) or (y) the continuation of health care benefits under Item 8(d) of the Employment Agreement, but not both. Employee must provide his written election to the Company will provide coverage to the Executive on a tax-free basis in accordance with this Section 2(f). If the health plan is or becomes self-insured, the Executive will be required to purchase the COBRA coverage in accordance with the terms of the plan and the Company will, subject to Sections 2(g) and within seven (h), reimburse the Executive for the premiums paid in accordance with this Section 2(f) on an after-tax basis. Such reimbursements will be made, subject to Sections 2(g) and (h), within five (57) business days after delivery following termination of Executive’s his employment and if no such written requests for payment, accompanied election is timely received by such evidence of payment of the COBRA premiums as the Company may reasonably require, provided, however, that any such reimbursement shall be for expenses incurred during then the period of subsidized group health continuation coverage provided in this Section 2(f) and that such reimbursements shall be made no later than December 31 of the Executive’s taxable year following the taxable year in which the premiums were paid by the Executive. In no event will the amount of expenses eligible for reimbursement under this Section 2(f2(b) shall be deemed to have been elected by the Company in one year affect the amount of expenses eligible for reimbursement under this Section 2(f) to be provided in any other taxable yearEmployee.