WELFARE PLAN BENEFITS. For a period of one year following the date of Termination, the Company shall pay a portion of the applicable COBRA premiums, if any, for Executive and Executive’s dependents equal to the Company-paid portion of comparable active employee coverage as in effect on the date of Termination, provided the Company receives adequate substantiation of such COBRA coverage. Notwithstanding the foregoing, if Executive is provided by another employer during such one-year period with health benefits that are substantially comparable to the active employee coverage as in effect on the date of Termination (including with respect to the amount of employer premium subsidy), the Company’s obligation under this paragraph shall cease.
Appears in 4 contracts
Samples: Senior Management Employment Agreement (Targeted Genetics Corp /Wa/), Senior Management Employment Agreement (Targeted Genetics Corp /Wa/), Senior Management Employment Agreement (Targeted Genetics Corp /Wa/)
