Applicable COBRA Premium definition

Applicable COBRA Premium means the monthly premium in effect from time to time for coverage provided to former employees of the Company under Section 4980B of the Code and the regulations thereunder with respect to a particular level of coverage (i.e., single, single plus one, or family); and
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Applicable COBRA Premium means the monthly premium in effect from time to time for coverage provided to former employees of the Bank or the Company under Section 4980B of the Code and the regulations thereunder with respect to a particular level of coverage during the COBRA health care continuation coverage period under Section 4980B of the Code (the “COBRA Period”) (i.e., single, single plus one, or family); provided that, following the COBRA Period, to the extent determined by the Bank or the Company to be necessary to provide the Health Care Benefits during the Benefits Period in such a manner that such benefits are excluded from the Executive’s income for federal income tax purposes, the “Applicable COBRA Premium” shall be the Bank’s or the Company’s deemed premium cost of such medical coverage for the Executive and his eligible dependents, which shall be determined actuarially by the Bank’s or the Company’s advisors; and
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Applicable COBRA Premium means, with respect to a Participant, the total monthly cost of continuation coverage under COBRA, as of the Participant’s Date of Termination, in respect of the maximum level of coverage in effect for the Participant and the Participant’s spouse and dependents at the Date of Termination.
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Examples of Applicable COBRA Premium in a sentence

  • The receipt of the Health Care Benefits shall be conditioned upon the Executive continuing to pay the Applicable COBRA Premium (as defined below).

  • During the Benefits Period, the Company shall pay to the Executive a monthly amount (the “Monthly Payment”) equal to the Applicable COBRA Premium in respect of the level of coverage that the Executive elected, which payment shall be paid in advance on the first business day of each month, commencing with the month immediately following the Executive’s Date of Termination.

  • The receipt of the Health Care Benefits shall be conditioned upon the Executive continuing to pay the Applicable COBRA Premium with respect to the level of coverage that the Executive has elected for the Executive and the Executive’s spouse and eligible dependents (i.e., single, single plus one, or family).

  • If the Executive’s employment is terminated by reason of the Executive’s Disability during the Contract Period, the Company shall then (A) timely pay or provide to the Executive the Accrued Obligations, the Other Benefits and the Pro Rata Bonus, and (B) have an obligation to provide the Health Care Benefits and pay the Applicable COBRA Premium described in Section 5(a)(ii) to the Executive and the Executive’s dependents during the Benefits Period.

  • The receipt of the Health Care Benefits shall be conditioned upon the Executive continuing to pay the Applicable COBRA Premium with respect to the level of coverage that the Executive has elected for the Executive and the Executive’s spouse and eligible dependents (e.g., single, single plus one, or family).

  • The receipt of the Health Care Benefits shall be conditioned upon EMPLOYEE continuing to pay the Applicable COBRA Premium (as defined below).

  • During the first 18 months of the Benefits Period, the Company shall pay to the Executive a monthly amount (the “Monthly Payment”) equal to the Applicable COBRA Premium in respect of the level of coverage that the Executive elected, which payment shall be paid in advance on the first business day of each month, commencing with the month immediately following the Executive’s Date of Termination.

  • During the first 18 months of the Benefits Period, the Company shall pay to the Executive a monthly amount (the “Monthly Payment”) equal to the Applicable COBRA Premium in respect of the level of coverage that the Executive elected, which payment shall be paid in advance on the first business day of each month, commencing with the month immediately following the Transition Date.

  • If the Executive’s employment is terminated by reason of the Executive’s death during the Contract Period, the Company shall (A) timely pay or provide to the Executive the Accrued Obligations, the Other Benefits and the Pro Rata Bonus and (B) have an obligation to provide the Health Care Benefits and pay the Applicable COBRA Premium described in Section 5(a)(ii) to the Executive’s dependents during the Benefits Period.


More Definitions of Applicable COBRA Premium

Applicable COBRA Premium means the monthly amount paid by the Bank and the Officer under the Bank’s group medical plan for the same type and level of coverage that Officer and/or her eligible dependents maintained immediately prior to the Officer’s termination date set forth in Section 2.2, and “COBRA Continuation Period” means the applicable continuation coverage period determined under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, as applied to Officer’s reason for termination. The Bank may withhold from any amounts payable under this Agreement such federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. Notwithstanding any provision of this Agreement to the contrary, neither the Company nor the Bank shall be required to pay any benefit under this Agreement if, upon the advice of counsel, the Bank determines that the payment of such benefit would be prohibited by 12 C.F.R. Part 359 or any successor regulations regarding employee compensation promulgated by any regulatory agency having jurisdiction over the Company, the Bank or its affiliates. Except as otherwise provided in Section 5.12(c), and subject to the condition set forth in Section 5.5, the Severance Benefit shall be paid to the Officer on the sixtieth (60th) day following the Officer’s termination date set forth in Section 2.2 (or, if later, the effective date of the Change in Control).
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Applicable COBRA Premium means the monthly premium in effect from time to time for coverage provided to former employees of CONVERGYS under Section 4980B of the Code and the regulations thereunder with respect to a particular level of coverage (i.e., single, single plus one, or family). The Health Care Benefits provided during the Benefits Period shall run concurrently with the period of continued health coverage required Confidential and Proprietary pursuant to Section 4980B of the Code or other applicable law (“COBRA Coverage”), and such COBRA Coverage shall be offset by the provision of the Health Care Benefits during the Benefits Period. For purposes of determining eligibility (but not the time of commencement of benefits) of EMPLOYEE for retiree welfare benefits pursuant to CONVERGYS’s retiree welfare benefit plans, if any, EMPLOYEE shall be considered to have remained employed until the Termination Date. Notwithstanding the foregoing provisions of Section 2, amounts that constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code that would otherwise be payable and benefits that would otherwise be provided under Section 2(a)(iii) during the six-month period immediately following the Termination Date shall instead be paid or provided on the first business day after the date that is six months following the Termination Date.
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Applicable COBRA Premium means the monthly premium in effect from time to time for coverage provided to former employees of CONVERGYS under Section 4980B of the Code and the regulations thereunder with respect to a particular level of coverage (i.e., single, single plus one, or family). The Health Care Benefits provided during the Benefits Period shall run concurrently with the period of continued health coverage required pursuant to Section 4980B of the Code or other applicable law (“COBRA Coverage”), and such COBRA Coverage shall be offset by the provision of the Health Care Benefits during the Benefits Period. For purposes of determining eligibility (but not the time of commencement of benefits) of EMPLOYEE for retiree welfare benefits pursuant to CONVERGYS’s retiree welfare benefit plans, if any, EMPLOYEE shall be considered to have remained employed until the Termination Date. Notwithstanding the foregoing provisions of Section 2, amounts that constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code that would otherwise be payable and benefits that would otherwise be provided under Section 2(a)(iii) during the six-month period immediately following the Termination Date shall instead be paid or provided on the first business day after the date that is six months following the Termination Date.
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Applicable COBRA Premium means the monthly amount paid by the Bank and the Executive under the Bank’s group medical plan for the same type and level of coverage that Executive and/or his eligible dependents participated in immediately prior to the termination of the Executive’s Term of Employment, and “COBRA Continuation Period” means the applicable continuation coverage period determined under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, as applied to Executive’s reason for termination. The Bank may withhold from any amounts payable under this Agreement such federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation.
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Applicable COBRA Premium means the monthly premium in effect from time to time for coverage provided to former employees of the Corporation under Section 4980B of the Code and the regulations thereunder with respect to a particular level of coverage. The period during which the Executive receives Health Care Coverage pursuant to this Section 5(a)(ii) shall run concurrent with the period during which the Executive may otherwise be eligible for continued health coverage as required by Section 4980B of the Code or other applicable law (“COBRA Coverage”), and the Corporation shall take such actions as are necessary to cause such COBRA Coverage to be offset by the provision of the Health Care Coverage during the Benefits Period. Notwithstanding the foregoing provisions of Section 5(a), in the event that the Executive is a “specified employee” within the meaning of Section 409A of the Code (as determined in accordance with the methodology established by the Corporation as in effect on the Date of Termination (a “Specified Employee”)), amounts and benefits that constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code that would otherwise be payable or provided under Section 5(a) during the six-month period immediately following the Date of Termination shall instead be paid, with interest on any delayed payment at the applicable federal rate provided for in Section 7872(f)(2)(A) of the Code (“Interest”) determined as of the Date of Termination, or provided on the first business day after the date that is six months following the Executive’s Date of Termination (the “Delayed Payment Date”).
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Applicable COBRA Premium means the PRQWKO\SUHPLXPLQHIIHFWIURPWLPHWRWLPHIRUFRYHUDJHSURYLGHGWRIRUPHUHPSOR\HHVXQGHU6HFWLRQ %RI WKH&RGHDQGWKHUHJXODWLRQVWKHUHXQGHUZLWKUHVSHFWWRDSDUWLFXODUOHYHORIFRYHUDJH e.g. VLQJOHVLQJOHSOXVRQHRU IDPLO\   LLL WKH&RPSDQ\VKDOODWLWVVROHH[SHQVHDVLQFXUUHGSURYLGHWKH([HFXWLYHZLWKRXWSODFHPHQWVHUYLFHVWKH scope and provider of which shall be selected by the Executive in the Executive’s sole discretion, but the cost WKHUHRIVKDOOQRWH[FHHG SURYLGHG IXUWKHU WKDWVXFKRXWSODFHPHQWEHQHILWVVKDOOHQGQRWODWHUWKDQWKHODVW GD\RIWKHVHFRQGFDOHQGDU\HDUWKDWEHJLQVDIWHUWKH'DWHRI7HUPLQDWLRQ DQG  LY H[FHSWDVRWKHUZLVHVHWIRUWKLQWKHODVWVHQWHQFHRI6HFWLRQWRWKHH[WHQWQRWWKHUHWRIRUHSDLGRUSURYLGHG WKH&RPSDQ\VKDOOWLPHO\SD\RUSURYLGHWRWKH([HFXWLYHDQ\RWKHUDPRXQWVRUEHQHILWVUHTXLUHGWREHSDLGRU SURYLGHGRUZKLFKWKH([HFXWLYHLVHOLJLEOHWRUHFHLYHXQGHUDQ\SODQSURJUDPSROLF\RUSUDFWLFHRUFRQWUDFWRU DJUHHPHQWRIWKH&RPSDQ\DQGLWVDIILOLDWHGFRPSDQLHV VXFKRWKHUDPRXQWVDQGEHQHILWVVKDOOEHKHUHLQDIWHU referred to as the “Other Benefits”) in accordance with the terms of the underlying plans or agreements.  1RWZLWKVWDQGLQJWKHIRUHJRLQJSURYLVLRQVRI6HFWLRQ D L DQG6HFWLRQ D LL LQWKHHYHQWWKDWWKH([HFXWLYHLVD “specified employee” within the meaning of Section  $RIWKH&RGH DVGHWHUPLQHGLQDFFRUGDQFHZLWKWKH PHWKRGRORJ\HVWDEOLVKHGE\WKH&RPSDQ\DVLQH ffect on the Date of Termination) (a “Specified Employee”), amounts that constitute “nonqualified deferred compensation” within the meaning of Section  $RIWKH&RGHWKDW ZRXOGRWKHUZLVHEHSD\DEOHDQGEHQHILWVWKDWZRXOGRWKHUZLVHEHSURYLGHGXQGHU6HFWLRQ D L RU6HFWLRQ D LL  GXULQJWKHVL[PRQWKSHULRGLPPHGLDWHO\IROORZLQJWKH'DWHRI7HUPLQDWLRQ RWKHUWKDQWKH$FFUXHG2EOLJDWLRQV  VKDOOLQVWHDGEHSDLGZLWKLQWHUHVWRQDQ\GHOD\HGSD\PHQWDWWKHDSSOLFDEOHIHGHUDOUDWHSURYLGHGIRULQ 6HFWLRQ 7872(f)(2)(A) of the Code (“Interest”) determined as of the Date of Termination,   
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Related to Applicable COBRA Premium

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • COBRA Period means the period beginning on the Date of Termination and ending on the first anniversary thereof.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.

  • COBRA Coverage means continuation coverage required under Section 4980B of the Code and Part 6 of Title I of ERISA.

  • COBRA Continuation Coverage means the health care benefit continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act and similar provisions of state law.

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • COBRA continuation provision means any of the following:

  • Pay Period means a two (2) calendar week period beginning on a Sunday and ending on the second Saturday thereafter.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • Severance Multiple has the meaning set forth on the first page of the Agreement.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • PAGA Pay Period means any Pay Period during which an Aggrieved Employee worked for Defendant for at least one day during the PAGA Period.

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Applicable Wages means the basic straight time wages for all hours worked, including:

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • Premium Paying Term means the period as stated in the Policy Schedule, in years, over which Premiums are payable;

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • disability living allowance means a disability living allowance under section 71 of the SSCBA;

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.