Common use of Payment of COBRA Premiums Clause in Contracts

Payment of COBRA Premiums. If you are eligible for and elect to continue health and dental continuation coverage in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay your COBRA premium (equal to the amount it paid during your employment) until the earlier of (x) 12 months from the date of the Qualified Termination, or (y) the date on which you become ineligible to receive COBRA coverage. During the period in which the Company is providing this benefit, you will be responsible for paying the portion of the premiums required for active employees, which will be automatically deducted from the severance payments referenced in Section 3(b)(i). Thereafter, you will be responsible for all COBRA payments.

Payment of COBRA Premiums. If you are eligible for and elect to continue health and dental continuation coverage in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay your COBRA premium (equal to the amount it paid during your employment) until the earlier of (x) 12 18 months from the date of the Qualified Termination, or (y) the date on which you become ineligible to receive COBRA coverage. During the period in which the Company is providing this benefit, you will be responsible for paying the portion of the premiums required for active employees, which will be automatically deducted from the severance payments referenced in Section 3(b)(i). Thereafter, you will be responsible for all COBRA payments.