Medical and Dental Premiums. As noted above, you may elect at your expense to continue group health and dental benefits under COBRA for up to 18 months to the extent that you are eligible. UHS will pay you $14,400 in a lump sum, which is equivalent to 12 months of COBRA continuation coverage and is subject to applicable withholding deductions. UHS will make such payment as soon as practicable following the effectiveness of the release described in section 3 below. This one-time lump sum payment is a separate payment from the severance pay described in Section 2(a) above and is intended to be exempt from Code Section 409A under the short-term deferral rule.
Appears in 1 contract
Samples: Mutual Termination Agreement and Release (Universal Hospital Services Inc)
Medical and Dental Premiums. As noted above, you may elect at your expense to continue group health and dental benefits under COBRA for up to 18 months to the extent that you are eligible. UHS will pay you $14,400 11,350 in a lump sum, which is equivalent to 12 represents 52 months of COBRA continuation coverage and is subject to applicable withholding deductions. UHS will make such payment as soon as practicable following the effectiveness of the release described in section 3 belowon June 2, 2014. This one-time lump sum payment is a separate payment from the severance pay described in Section 2(a) above and is intended to be exempt from Code Section 409A under the short-term deferral rule.
Appears in 1 contract
Samples: Mutual Termination Agreement and Release (Universal Hospital Services Inc)
Medical and Dental Premiums. As noted above, you may elect at your expense to continue group health and dental benefits under COBRA for up to 18 months to the extent that you are eligible. UHS will pay you $14,400 13,161.96 in a lump sum, which is equivalent to represents 12 months of COBRA continuation coverage and is subject to applicable withholding deductions. UHS will make such payment as soon as practicable following the effectiveness of the release described in section 3 below. This one-time lump sum payment is a separate payment from the severance pay described in Section 2(a) above and is intended to be exempt from Code Section 409A under the short-term deferral rule.
Appears in 1 contract
Samples: Mutual Termination Agreement and Release (Universal Hospital Services Inc)
Medical and Dental Premiums. As noted above, you may elect at your expense to continue group health and dental benefits under COBRA for up to 18 months to the extent that you are eligible. UHS will pay you $14,400 $ 13,317.12 in a lump sum, which is equivalent to 12 months of COBRA continuation coverage and is subject to applicable withholding deductions. UHS will make such payment as soon as practicable following the effectiveness of the release described in section 3 below. This one-time lump sum payment is a separate payment from the severance pay described in Section 2(a) above and is intended to be exempt from Code Section 409A under the short-term deferral rule.
Appears in 1 contract
Samples: Mutual Termination Agreement and Release (Universal Hospital Services Inc)