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.

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.

Examples of COBRA Payments in a sentence

Upon becoming eligible to receive comparable coverage from a new employer, the Company will no longer be required to pay such COBRA Payments and Executive will promptly notify the Company.
Employer will pay such COBRA Payments for Executive’s eligible dependents only for coverage for which those dependents were enrolled immediately prior to the date of Executive’s separation of employment.
All COBRA Payments made by the Company pursuant to this Section 3.4.2.3 shall be collectively referred to in this Agreement as the “COBRA Benefit”.
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.
Each installment of the CIC COBRA Payments shall be deemed to be a separate payment for purposes of Section 409A of the Code.
The first installment of the Severance Pay and the lump sum payment of the COBRA Payments shall be provided on the first payroll date after the effective date of the Release, provided that the first installment of the Severance Pay shall include a catch-up for any payments that would have been made prior to such first installment had the Release been effective on the date of Executive’s termination of employment.
The Cash Severance Payments and COBRA Payments (if any) made by Employer to, or on behalf of, Executive pursuant to this Section 4(e) are conditioned on the Executive signing a Severance Agreement and Release substantially in the form attached hereto as Exhibit A.
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.
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 Severance Payment, the Retirement Bonus, and the COBRA Payments are unfunded and will be paid exclusively from the general assets of EXCO, and no person entitled to payment under this Agreement will have any claim, right, priority, security interest, or other interest in any fund, trust, account, or other asset of EXCO that may be looked to for such payment.

More Definitions of COBRA Payments

COBRA Payments. As long as Pearsall shall be q▇▇▇▇▇▇▇▇ for Cobra coverage, Rubicon will pay or cause to be paid Pearsall's Cobra pr▇▇▇▇▇ ▇▇▇ up to eighteen months. Rubicon will cooperate fully in arranging for Cobra coverage by providing the necessary documentation to allow Pearsall to elect C▇▇▇▇ ▇▇▇efits. 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 h▇▇ ▇▇▇▇▇ess from and against any such costs or obligations to the AAA caused by the filing of the Arbitration. Pearsall hereby rep▇▇▇▇▇▇▇ 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.

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. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 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. 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 termination of your employme...

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.

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.

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.