Medical Insurance Premium Reimbursement. If Executive and his dependents who are qualified beneficiaries are eligible to elect continuation of medical insurance benefits under the Consolidated Omnibus Budget Reconciliation Act of 1995 ("COBRA") and if Executive elects to purchase such COBRA continuation coverage for himself and/or for his qualified beneficiaries, then in such event the Bank shall reimburse Executive in an amount equal to the monthly premium paid by him to obtain such coverage, net of the amount which employees of the Bank are required to contribute toward the purchase of medical insurance benefits under the personnel policies of the Bank then in effect, which reimbursement shall continue for a period of eighteen (18) months from the date of Executive's written notice of his intention to exercise his rights under the provisions of section 11(b)(iii) hereof. Reimbursement as provided for herein shall be made by the Bank to Executive monthly within five (5) business days following the presentation by Executive to the Bank of evidence of payment by him of the periodic COBRA continuation coverage premium for that month.
Medical Insurance Premium Reimbursement. If Executive and his dependents who are qualified beneficiaries are eligible to elect continuation of medical insurance benefits under the Consolidated Omnibus Budget Reconciliation Act of 1995 ("COBRA") and if Executive elects to purchase such COBRA continuation coverage for himself and/or for his qualified beneficiaries, then in such event the Bank shall reimburse Executive in an amount equal to the monthly premium paid by him to obtain such coverage, net of the amount which employees of the Bank are required to contribute toward the purchase of medical insurance benefits under the personnel policies of the Bank then in effect, which reimbursement shall continue until the first of the following to occur: (i) the expiration of the Salary continuation Period as set forth in section 12(b) hereof, and (ii) the qualification of Executive and his qualified beneficiaries for substantially equivalent coverage under any medical insurance policy maintained by any future employer of Executive. Reimbursement as provided for herein shall be made by the Bank to Executive monthly within five (5) business days following the presentation by Executive to the Bank of evidence of payment by him of the periodic COBRA continuation coverage premium for that month.
Medical Insurance Premium Reimbursement. If Executive and his dependents who are qualified beneficiaries are eligible to elect continuation of medical insurance benefits under the Consolidated Omnibus Budget Reconciliation Act of 1995 ("COBRA") and if Executive elects to purchase such COBRA continuation coverage for himself and/or for his qualified beneficiaries, then in such event the Bank shall reimburse Executive in an amount equal to the monthly premium paid by him to obtain such coverage, net of the amount which employees of the Bank are required to contribute toward the purchase of medical insurance benefits under the personnel policies of the Bank then in effect, which reimbursement shall continue until the first of the following to occur: (i) the expiration of the Salary continuation Period as set forth in section 12(b) hereof, and
Medical Insurance Premium Reimbursement. If Stauth exercises xxx xxght to continued coverage under the Fleming Companies, Xxx. Health Choice Medical Plan (the "Medical Plan") pursuant to COBRA, the Company will pay the monthly premium for such coverage in the approximate amount of $336 per month for up to eighteen (18) months commencing July 18, 1998, or until Stauth no longer xxxxxxies for continued coverage under COBRA due to eligibility to participate in a group medical plan sponsored by or available through another employer providing equivalent benefits to his medical coverage with the Company, whichever is the earlier to occur. Thereafter, to the extent Stauth is eligiblx xxx coverage as a retiree under the Medical Plan, the Company will pay the cost of such coverage in the approximate amount of $5,000 per year until Stauth is eligiblx xxx Medicare or similar coverage or until he no longer qualifies to participate in retiree medical coverage under the Medical Plan for any reason provided therein.
Medical Insurance Premium Reimbursement. The Company will reimburse the Employee for medical insurance premium payments he makes, but only for payments made covering a 90-day period starting with Employee's commencement of his employment hereunder.
