COBRA BONUS AGREEMENTCobra Bonus Agreement • May 13th, 2013 • Oglethorpe Power Corp • Electric services • Georgia
This COBRA Bonus Agreement (“Agreement”) between Thomas A. Smith (“Executive”) and Oglethorpe Power Corporation (the “Company”) is effective as of the date hereof. The Company has decided to provide Executive with a lump-sum bonus in recognition of his long and valuable service with the Company. This bonus is intended to assist him in certain circumstances in paying for health care continuation coverage to which he or his qualified beneficiaries may become entitled pursuant to Internal Revenue Code (the “Code”) Section 4980B (“COBRA Coverage”), subject to all of the terms of this Agreement.
