Common use of Subsidized COBRA Clause in Contracts

Subsidized COBRA. Subject to Employee timely electing continuation coverage under Title X of the Consolidated Budget Reconciliation Act of 1985 (“COBRA”), the Company shall subsidize Employee and his eligible dependent’s COBRA premiums so that Employee pays the same premium as an active employee of the Company for a period equal to the lesser of (i) twelve months following the Employee’s termination date, or (ii) the date upon which Employee becomes covered under the group health plans of another employer with comparable group health benefits and levels of coverage.

Subsidized COBRA. Subject to Employee timely electing continuation coverage under Title X of the Consolidated Budget Reconciliation Act of 1985 (“COBRA”), the Company shall subsidize Employee and his eligible dependent’s COBRA premiums so that Employee pays the same premium as an active employee of the Company for a period equal to the lesser of (i) twelve eighteen months following the Employee’s termination date, or (ii) the date upon which Employee becomes covered under the group health plans of another employer with comparable group health benefits and levels of coverage.