COBRA Premium Payment definition

COBRA Premium Payment means the monthly COBRA premium under the Company’s group health plan in effect on the date of the Eligible Individual’s Involuntary Termination that applies to the Eligible Individual’s coverage election in effect on such date under the group health plan.
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COBRA Premium Payment shall have the meaning provided in Section 2.1(b) hereof.
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COBRA Premium Payment means an amount equal to 24 months of the Participant’s COBRA Premiums, plus an amount equal to the aggregate federal, state and local taxes imposed on such COBRA Premiums, plus any taxes imposed on that amount, so that the Participant on an after-tax basis is in the same position as it there had been no taxes imposed on the Participant with respect to the COBRA Premiums.
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Examples of COBRA Premium Payment in a sentence

  • For Monthly Payments, What If The Full COBRA Premium Payment Is Not Made When Due?If the Fund Office receives a COBRA premium payment that is not for the full amount due, the Fund Office will determine if the COBRA premium payment is short by an amount that is significant or not.

  • The Company shall provide to the Participant the COBRA Premium Payment set forth in Section 4.2(b) hereof; provided, however, that the COBRA Period shall be determined in accordance with Exhibit B attached hereto (instead of in accordance with Exhibit A).

  • After the expiration or termination of the COBRA Premium Payment, you will be solely responsible for the monthly payment of the COBRA premium should you choose to continue coverage under any of the Company’s group health plans.

  • The calculations of the Minimum Termination Compensation, Base Severance Payment, Bonus Payment, Pro Rata Bonus, COBRA Premium Payment, and the CIC Bonus Payment shall be made without reduction for any voluntary deferral of compensation made by Employee.

  • Those benefits include (a) the “Base Severance Payment” (as defined in the Employment Agreement and set forth on Exhibit B), (b) three (3) times the target annual bonus of the Employee for the year in which the date of termination occurs (the “CIC Payment”) (as set forth on Exhibit B), (c) the “Pro Rata Bonus” (as defined in the Employment Agreement) and (d) the COBRA Premium Payment (as defined in the Employment Agreement and set forth on Exhibit B).

  • Employee further understands and agrees that this COBRA Premium Payment is monetary consideration to which Employee would not otherwise be entitled if Employee did not sign this Agreement and it did not become effective.

  • The Company shall provide to the Participant the COBRA Premium Payment set forth in Section 4.2(b) hereof; provided, however, that the Severance Period shall be determined in accordance with Exhibit B attached hereto (instead of in accordance with Exhibit A).

  • The Company shall provide to the Participant the COBRA Premium Payment set forth in Section 4.2(b) hereof; provided, however, that the COBRA Period shall be determined in accordance with Exhibit B attached hereto (instead of in accordance with Exhibit A).(c)Equity Acceleration.

  • The lower court merely stated that “the application of foreign law in these cases, if required, does not present such a formidable obstacle as to require dismissal.” We disagree.

  • Without limiting the generality of the immediately preceding sentence, it is intended that the COBRA Premium Payment and the Pro Rata Bonus shall be “short-term deferrals” within the meaning of Treas.

Related to COBRA Premium Payment

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

  • Premium Payment Term means the term specified in the Schedule, during which the Premiums are payable by You;

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • 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.

  • 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.

  • Premium payment plan means a benefit plan whereby school em- ployees may pay their share of group health plan premiums with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 125 or other sections of the Internal Revenue Code.

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

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

  • 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.

  • 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.

  • 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 provision means any of the following:

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • 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)

  • 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.

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

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

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

  • 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:

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

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