Common use of Health Plan Continuation Benefits Clause in Contracts

Health Plan Continuation Benefits. The Company will provide health plan continuation benefits as follows: (1) For the period specified in paragraph (3) below, the Company will pay the premiums (both the employer and employee portions) for COBRA continuation coverage under the Company’s group health plans as in effect at that time. (2) The Executive will have all the rights available under COBRA to change plans and coverage category (i.e., employee only, employee plus spouse or full family or such other categories that are in effect at that time). (3) The Company will make the COBRA premium payments until the earliest of the following events occurs: (A) The date COBRA coverage would otherwise end by law; or (B) 18 months of premiums have been paid.

Health Plan Continuation Benefits. The Company will provide health plan continuation benefits as follows: (1) For the period specified in paragraph (3) below, the Company will pay the premiums (both the employer and employee portions) for COBRA continuation coverage under the Company’s 's group health plans as in effect at that time. (2) The Executive will have all the rights available under COBRA to change plans and coverage category (i.e., employee only, employee plus spouse or full family or such other categories that are in effect at that time). (3) The Company will make the COBRA premium payments until the earliest of the following events occurs: (A) The date COBRA coverage would otherwise end by law; or (B) 18 months of premiums have been paid.