Common use of Certain Benefits Clause in Contracts

Certain Benefits. During the six (6) months following such termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc)

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Certain Benefits. During the six (6) months following such termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(14980B(g)(l) of the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc), Change of Control Severance Agreement (Pinnacle Systems Inc)

Certain Benefits. During the six twelve (612) months following such termination, the Company Company, at its cost, shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

Certain Benefits. During the six (6) months following such termination, the Company shall continue to pay for and make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”); and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

Certain Benefits. During the six (6) months following such terminationthe Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)amended; and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

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Certain Benefits. During the six (6) twelve months following such terminationthe Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)amended; and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

Certain Benefits. During the six (6) twelve months following such termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)amended; and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

Certain Benefits. During the six (6) twelve months following such terminationthe Involuntary Termination, the Company shall continue to make available to the Employee and the Employee’s dependents covered under any group health plans or life insurance plans of the Company on the date of such termination of employment, all group health, life and other similar insurance plans in which the Employee or such covered dependents participate on the date of the Employee’s termination; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)amended; and (ii) the Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Pinnacle Systems Inc)

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