Examples of COBRA in a sentence
Except as otherwise required by law (e.g., COBRA) or as specifically provided herein, all of the Executive’s rights to salary, severance, fringe benefits, bonuses and other payments or benefits hereunder (if any) accruing after the Date of Termination shall cease upon the Date of Termination.
Provided eligibility requirements are met, Executive and his enrolled dependents, if any, shall be eligible to continue participation in the Company’s group medical plans pursuant to Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), with all of the COBRA premium assessed to Executive to paid on Executive’s behalf by the Company, for a period of 18 months after the Separation Date, upon terms no less favorable than the most favorable terms provided to senior executives of the Company.
Buyer shall be responsible for compliance with such health care continuation requirements with respect to all Current Employees who do not receive a Qualifying Offer and all Transferred Employees (and their respective eligible spouses and dependents) for whom a qualifying event (within the meaning of COBRA) occurs on or after the Closing Date.
You agree to promptly notify the Company if you or a covered dependent become eligible for other employer-provided health insurance or otherwise become ineligible for COBRA coverage before December 31, 2025.
If Executive timely elects to receive continued healthcare coverage pursuant to the provisions of COBRA, the Company shall directly pay, or reimburse Executive for, the Company’s portion of the premium (at the same rates in effect on the Termination Date) for Executive and Executive’s covered dependents through the earlier of (i) the CiC Period and (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s).