Common use of Health Insurance Coverage Clause in Contracts

Health Insurance Coverage. Following the occurrence of a Termination Event, Employee shall be entitled, at the Company’s expense, to continue to receive the health insurance coverage to which Employee and his or her dependents were entitled as of the date of the Termination Event and for a period of twelve (12) months thereafter; provided, however, that such coverage may be structured, in the Company’s sole discretion, as a reimbursement to Employee for the Employee’s expenses (except for the portion of such expenses that would otherwise have been due from Employee had Employee continued in active employment with the Company) incurred for continuation coverage under the Company’s health plan pursuant to Section 4980B of the Internal Revenue Code of 1986, as amended (the ‘Code’).”