COBRA Payment Period definition

COBRA Payment Period means the period beginning on the first day following the day that the Executive’s active employee health coverage ends as the result of Executive’s Separation, and ending on the earliest to occur of (i) twelve (12) months (the “COBRA Multiple”), (ii) the expiration of the Executive’s eligibility for continuation coverage under COBRA, and (iii) the first month for which the Executive is eligible for health insurance coverage in connection with new employment or self-employment. Alternatively, the Company may elect to pay Executive a taxable cash payment in lieu of the continued coverage, equal to the amount that the Company would have otherwise paid for the COBRA premiums (based on the premium for the first month of coverage), which payment will be made regardless of whether Executive or Executive’s eligible dependents elect COBRA continuation coverage and will be paid in monthly installments for the COBRA Payment Period, except that payments shall commence (with any make-up payments) in the Company’s first regular payroll following the Release Deadline. Continued health coverage or payment of a taxable cash amount pursuant to the foregoing is referred to as the “COBRA Benefit”.
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COBRA Payment Period shall begin on the first day after the Participant’s active employee health coverage ends due to Separation and end on the earliest to occur of (A) the end of the COBRA Period, (B) the expiration of the Participant’s eligibility for the continuation coverage under COBRA, and (C) the first month for which the Participant is eligible for health insurance coverage in connection with new employment or self-employment. Payment of cash in lieu of continued coverage shall be due on the first day of each month during the COBRA Payment Period for which the Company does not provide continued coverage at active employee rates, except that payments shall commence (with any make-up payments) on the date prescribed by subsection 1, above. The amount payable under this subsection 2 will not include any amounts that the Participant has elected to contribute to a health care flexible spending account; such amounts, if any, are the sole responsibility of the Participant.
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COBRA Payment Period means the period beginning on the first day following the day that the Executive’s active employee health coverage ends as the result of Executive’s Separation, and ending on the earliest to occur of (i) [twelve (12)] [six (6)] months (the “COBRA Multiple”), (ii) the expiration of the Executive’s eligibility for continuation coverage under COBRA, and (C) the first month for which the Executive is eligible for health insurance coverage in connection with new employment or self-employment. Alternatively, the Company may elect to pay Executive a taxable cash payment in lieu of the continued coverage, equal to the amount that the Company would have otherwise paid for the COBRA premiums (based on the premium for the first month of coverage), which payment will be made regardless of whether Executive or Executive’s eligible dependents elect COBRA continuation coverage and will be paid in monthly 1 NTD: Amounts in paragraphs 1(a)-(d) to be conformed to executives’ existing agreements. installments for the COBRA Payment Period, except that payments shall commence (with any make-up payments) in the Company’s first regular payroll following the Release Deadline. Continued health coverage or payment of a taxable cash amount pursuant to the foregoing is referred to as the “COBRA Benefit”.
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Examples of COBRA Payment Period in a sentence

  • Such Special Severance Payment shall end upon expiration of the COBRA Payment Period.

  • In all cases, if the Participant becomes eligible for coverage under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Payment Period, the Participant must immediately notify the Company of such event, and all payments and obligations under this paragraph will cease.

  • Such Special Severance Payments shall end upon expiration of the COBRA Payment Period.

  • The Health Care Benefit Payment shall be equal to the amount that the Company otherwise would have paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period.

  • If the Executive becomes eligible for coverage under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Payment Period, the Executive must immediately notify the Company of such event, and all payments and obligations under this clause will immediately cease.

  • In the event Executive becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Payment Period, Executive must immediately notify the Company of such event.

  • You will receive the payment for continued group health plan benefits described in Section 2(a)(2) above, except that the COBRA Payment Period will be equal to the Severance Period applicable to a Change in Control Termination as set forth in Section 2(b)(1) above.

  • Such Special Severance Payment shall end upon expiration of the CIC COBRA Payment Period.

  • Notwithstanding the foregoing, if Company determines, in its sole discretion, that it cannot pay the COBRA Payments without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), at the end of each remaining month of the COBRA Payment Period, Company shall pay Executive directly a taxable monthly amount which, after taxes, equals the COBRA Payment amount Company would have otherwise paid to Executive (assuming a 35% tax rate).

  • Such Special Severance Payment shall end upon expiration of the Standard COBRA Payment Period.


More Definitions of COBRA Payment Period

COBRA Payment Period means twelve (12) months.
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Related to COBRA Payment Period

  • 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.

  • Payment Period means the three months following each Collection Quarter.

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

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

  • Severance Amount means:

  • Retention Period means the minimum time that must pass after the creation, recording, or receipt of a record, or the fulfillment of certain actions associated with a record, before it is eligible for destruction.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

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

  • Repayment Period means the period beginning on the Loan Commencement Date and continuing for 36 calendar months.

  • COBRA means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.