Healthcare Premium Payment. Subject to Executive’s timely election of continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA, the Company shall continue to contribute the Company’s portion of the monthly premium cost of Executive’s participation and that of his eligible dependents in the Company’s group health plan, which covers the Executive and his dependents for a period of twelve (12) months after the Termination Date, or until Executive has secured other employment, whichever occurs first, provided that Executive continues to pay his share of the premium for his and his dependents’ participation. The Executive and the Company are each separately responsible to provide their respective portions of the monthly insurance premium as described above to the insurer.
Healthcare Premium Payment. Subject to the Executive’s eligibility to elect continued healthcare coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) as of the Termination Date, Executive shall be entitled to receive a lump sum payment equal to eighteen (18) multiplied by the full monthly premium that Executive would have to pay for continued healthcare coverage under COBRA at the rate in effect as of the Termination Date and based on Executive’s election as of the Termination Date, payable, less applicable withholdings, on the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below, or as otherwise provided in Section 14 below.
Healthcare Premium Payment. Subject to Executive’s eligibility to elect continued healthcare coverage under COBRA as of the Termination Date, Executive shall be entitled to receive a lump sum payment equal to twenty-four (24) multiplied by the full monthly premium that Executive would have to pay for continued healthcare coverage under COBRA at the rate in effect as of the Termination Date and based on Executive’s election as of the Termination Date, payable, less applicable withholdings, on the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below or as otherwise provided in Section 14 below (or, if the first payroll date following the date the Release of Claims became effective and irrevocable in accordance with Section 14(a)(v) below occurred on or prior to the date of the Change in Control, the lump sum payment (or additional amount due, as the case may be, if payment was theretofore made to Executive pursuant to Section 3(b) above) shall be paid on the first payroll date following the date of the Change in Control, subject to Section 14 below).
Healthcare Premium Payment. Subject to the Executive’s eligibility to elect continued healthcare coverage under COBRA as of the Termination Date, Executive shall be entitled to receive a lump sum payment equal to twenty-four (24) multiplied by the full monthly premium that Executive would have to pay for continued healthcare coverage under COBRA at the rate in effect as of the Termination Date and based on Executive’s election as of the Termination Date, payable, less applicable withholdings, on the first payroll date following the date the Release of Claims becomes effective and irrevocable in accordance with Section 14(a)(v) below or as otherwise provided in Section 14 below.
Healthcare Premium Payment. Subject to Executive’s timely election of continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA, the Company shall continue to contribute the premium cost of Executive’s participation and that of his eligible dependents in the Company’s group health plan, which covers the Executive and his dependents for a period of twelve (12) months after the Termination Date, or until Executive has secured other employment, whichever occurs first, provided that Executive continues to pay his share of the premium for his and his dependents’ participation. COBRA reimbursements shall be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy, provided that Executive submits documentation to the Company substantiating his payments for COBRA coverage.
