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) or that it is otherwise not administratively reasonable to do so, regardless of whether Executive or Executive’s dependents elect or are eligible for COBRA coverage, the Company instead shall pay to Executive, on the first day of each calendar month following the termination date, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for Executive’s eligible dependents), less required payroll deductions and withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. Executive may, but 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 a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or that it is otherwise not administratively reasonable to do so, regardless of whether Executive or Executive’s dependents elect or are eligible for COBRA coverage), the Company instead shall pay to ExecutiveEmployee, on the first day of each calendar month following the termination datemonth, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for ExecutiveEmployee and Employee’s eligible dependentsdependents who have elected and remain enrolled in such COBRA coverage), less required payroll deductions and subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. Executive Employee may, but 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) or that it is otherwise not administratively reasonable to do so), regardless of whether Executive or Executive’s dependents elect or are eligible for COBRA coverage, the Company instead shall pay to Executive, on the first day of each calendar month following the termination date, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for Executive’s eligible dependents), less required payroll deductions and withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. Executive may, but is not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.