Common use of Special Cash Payments in Lieu of COBRA Premiums Clause in Contracts

Special Cash Payments in Lieu of COBRA Premiums. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), regardless of whether you or your dependents elect or are eligible for COBRA coverage, the Company instead shall pay to you, on the first day of each calendar month following the time the Company determines it cannot pay such COBRA Premiums, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for your eligible dependents), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You may, but are not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.

Special Cash Payments in Lieu of COBRA Premiums. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), regardless of whether you Executive or your Executive’s dependents elect or are eligible for COBRA coverage, the Company instead shall pay to youExecutive, on the first day of each calendar month following the time the Company determines it cannot pay such COBRA Premiumstermination date, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for your Executive’s eligible dependents), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You Executive may, but are is not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.

Special Cash Payments in Lieu of COBRA Premiums. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), regardless of whether you Executive or your Executive’s dependents elect or are eligible for COBRA coverage, the Company instead shall will pay to youExecutive, on the first day of each calendar month following the time the Company determines it cannot pay such COBRA PremiumsExecutive’s Separation from Service, a fully taxable cash payment equal to 150% of the applicable COBRA premiums for that month (including the amount of COBRA premiums for your Executive’s eligible dependents), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You Executive may, but are is not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.