COBRA Payments definition

COBRA Payments shall be monthly installment payments, each equal to the monthly COBRA premium in effect as of the date of Executive’s termination of employment for the level of coverage in effect for Executive under the Bank’s group health plan.
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COBRA Payments. Starting from the Termination Date, you will be entitled to receive COBRA benefits for the equivalent medical and dental coverage for you and your family as may be in effect at the Termination Date, such COBRA benefits will be paid for in full on your behalf by the Company. These COBRA benefits will be paid for by the Company until the earlier to occur of either (i) a date 18 months from the Termination Date, or (ii) such time as you shall have entered into permanent employment with an employer with a medical and dental plan.
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COBRA Payments. If Carington elects COBRA coverage, Abraxas shall pay his monthly COBRA expenses until the earlier of (i) the date on which it is determined that no bonus is payable; (ii) the date the bonus is actually paid under Paragraph 2 (c) of this Release Agreement; or (iii) the date on which Carington becomes eligible for coverage under another employer's plan.
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Examples of COBRA Payments in a sentence

  • Each installment of the CIC COBRA Payments shall be deemed to be a separate payment for purposes of Section 409A of the Code.

  • Notwithstanding the foregoing, if Executive’s employment is terminated by reason of his death or Disability, Executive, or his estate or legal representative, as applicable, shall be entitled to the Final Year Pro Rata Bonus and, in the case of a termination by reason of his Disability, COBRA Payments and Other Premium Payments for a period of twelve (12) months following the date of termination.

  • 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).

  • Notwithstanding the foregoing, the Company’s obligation to pay the Severance Payment and the COBRA Payments shall be conditioned upon, and subject to, the execution and delivery by Employee of a termination agreement, including a general release of claims, in form and substance reasonably acceptable to the Company.

  • In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, and, except with respect to the COBRA Payments and the Outplacement Payments, any amounts payable pursuant to this Agreement shall not be reduced by compensation that Executive earns on account of employment with another employer.

  • The Severance Payment, Retirement Bonus, and COBRA Payments shall not be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, transfer, or charge by Executive or any other person, and any attempt to anticipate, alienate, sell, assign, pledge, encumber, transfer, or charge the Severance Payment, Retirement Bonus, and COBRA Payments will be void.

  • The "COBRA Payments" shall be monthly installment payments, each equal to the monthly COBRA premium in effect as of the date of Executive's termination of employment for the level of coverage in effect for Executive under the Bank's group health plan.

  • The Enhanced COBRA Payments will commence on the date and in the manner set forth under Section 4(e) above.

  • The Retention Bonus, Severance Payment and COBRA Payments shall not in any manner be liable for or subject to the debts, contract liabilities, or torts of the person entitled to such Retention Bonus, Severance Payment and COBRA Payment.

  • The Severance Pay, including each successive COBRA Payment, will be made by check made payable to Gxxxxxx Xxx, by sending the Severance Pay and/or COBRA Payment(s) to you via overnight mail at 1000 X.


More Definitions of COBRA Payments

COBRA Payments. For three months from the Termination Date, you will be entitled to receive COBRA benefits for the equivalent medical and dental coverage for you and your family as may be in effect at the Termination Date. Subsequent to the three months after the Termination Date, you will be able to continue to have COBRA benefits coverage should you so choose, by directly making those payments.
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COBRA Payments. We realize that there may be a transitional benefits cost to you because of the waiting period before you become eligible for the Starwood health plans. Therefore, during your benefits waiting period, Starwood agrees to reimburse you for any COBRA payments until the date you become eligible for Starwood health benefits. Starwood will reimburse you the difference between the applicable contribution rate and your COBRA amount.
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COBRA Payments. As long as Pearsall shall be qxxxxxxxx for Cobra coverage, Rubicon will pay or cause to be paid Pearsall's Cobra prxxxxx xxx up to eighteen months. Rubicon will cooperate fully in arranging for Cobra coverage by providing the necessary documentation to allow Pearsall to elect Cxxxx xxxefits. Dismissal of the Arbitration: Rubicon will cause the Arbitration to be withdrawn. Rubicon shall alone be responsible for any costs, fees, dues, or other obligations caused or incurred by the filing of the Arbitration, and shall indemnify Pearsall and hold hxx xxxxxess from and against any such costs or obligations to the AAA caused by the filing of the Arbitration. Pearsall hereby repxxxxxxx and agrees that he has not been informed of and is not aware of any such fees or obligations arising from, or caused by the filing of, the Arbitration.
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COBRA Payments. If you timely elect continued coverage under federal COBRA laws or comparable state insurance laws (“COBRA”), then the Company shall pay the COBRA premiums necessary to continue your medical insurance coverage in effect for yourself and your eligible dependents on the termination date for the first nine (9) months of such coverage (provided that such COBRA reimbursement shall terminate on such earlier date as you are no longer eligible for COBRA coverage or you become eligible for group health insurance benefits through a new employer). Notwithstanding the previous sentence, if the Company determines in its sole discretion that it cannot provide the foregoing COBRA benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made for the same period of time that the Company otherwise would have paid your COBRA premiums hereunder. • Accelerated vesting of stock options pursuant to the “Stock Option” section provided above. Xxxxx Xxxxxxxx November 13, 2012 As a pre-condition to receipt of the Severance Benefits you will be required to timely sign, date and return to the Company, and to not subsequently revoke, a general release of all known and unknown claims in the form provided to you by the Company. The salary continuation payments described in the above paragraph will be paid in substantially equal installments on the Company’s regular payroll schedule subject to standard deductions and withholdings over the nine-month period following termination; provided, however, that the payments will commence on the first payroll date following the effective date of the general release of all known and unknown claims. Dispute Resolution To ensure the rapid and economical resolution of disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach, performance, or interpretation of this Agreement, your employment with the Company, or the terminati...
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COBRA Payments. ). The COBRA Payments shall cease upon the earlier of (i) payment by Venturi of ____ months of COBRA coverage, (ii) the date you commence new employment or otherwise obtain coverage under another group medical plan, which coverage does not contain any pre-existing condition exclusions or limitations or (iii) any violation of Sections ____ of your Employment Agreement or any other material breach of any Venturi Partners, Inc.______________ Employee's Initials:______________ of the terms of this Agreement. At the termination of benefits coverage under the preceding sentence, you and your spouse and children may continue to exercise your rights to continued health benefits coverage (to the extent permitted by applicable law), pursuant to the provisions of COBRA, at your own expense.
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Related to COBRA Payments

  • COBRA Period means the period beginning on the Date of Termination and ending on the six-month anniversary thereof; provided, however, that in the event the Qualifying Termination occurs on or within 24 months following a Change in Control, then the COBRA Period instead shall end on the 12-month anniversary thereof.

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

  • 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.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

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

  • 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.

  • Severance Amount means:

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

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

  • Dependents means dependents as defined in the Internal Revenue Code and as claimed in the taxpayer's federal income tax return for the taxable year or which the taxpayer would have been permitted to claim had the taxpayer filed a federal income tax return.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • 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.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Bonus Payments means that portion of the bonus payments received by the

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Change in Control Benefits means the following benefits:

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Retention Bonus means the amount equal to: