Common use of Subsidized COBRA Premium Clause in Contracts

Subsidized COBRA Premium. If Executive timely elects COBRA continuation coverage then, during the Severance Period, Executive will be responsible for paying only the employee portion of the applicable premium under the respective plan(s), at the same rate and at the same time as such employee contributions are paid by similarly-situated active Company employees.

Subsidized COBRA Premium. If Executive timely elects COBRA continuation coverage then, during the Severance Period, Executive will be responsible for paying only the employee portion of the applicable premium under the respective plan(s), at the same rate and at the same time as such employee contributions are paid by similarly-situated active Company employees. Effective for the first premium payment due after the Severance Period expires, however, Executive will be required to pay the entire premium for COBRA continuation coverage and shall be responsible for paying such premium during the remainder of the applicable COBRA continuation coverage period.