COBRA and HIPAA. As of the Effective Date, Spinco (acting directly or through its Subsidiaries) shall assume, or shall have caused the Spinco Health & Welfare Plans to assume, responsibility for compliance with the health care continuation coverage requirements of COBRA with respect to Spinco Participants who, as of the day prior to the Effective Date, were covered under an MSG Networks Health & Welfare Plan pursuant to COBRA or were eligible for COBRA under an MSG Networks Health & Welfare Plan and incur any COBRA claims after the Effective Date. MSG Networks shall be responsible for the claims incurred by Spinco Participants prior to the Effective Date, regardless of whether payments for such claims are made or due after the Effective Date. MSG Networks (acting directly or through its Subsidiaries) shall be responsible for administering compliance with the certificate of creditable coverage requirements of HIPAA applicable to the MSG Networks Health & Welfare Plans with respect to Spinco Participants for the period ending on the Effective Date. The Parties hereto agree that neither the Distribution nor any transfers of employment directly from the MSG Networks Group to the Spinco Group or directly from the Spinco Group to the MSG Networks Group that occur before the Effective Date shall constitute a COBRA “qualifying event” for purposes of COBRA.
Appears in 4 contracts
Samples: Employee Matters Agreement (MSG Spinco, Inc.), Employee Matters Agreement (MSG Spinco, Inc.), Employee Matters Agreement (Madison Square Garden Co)
COBRA and HIPAA. As of the Effective Date, Spinco MSG Entertainment (acting directly or through its Subsidiaries) shall assume, or shall have caused the Spinco MSG Entertainment Health & Welfare Plans to assume, responsibility for compliance with the health care continuation coverage requirements of COBRA with respect to Spinco MSG Entertainment Participants who, as of the day prior to the Effective Date, were covered under an MSG Networks a Spinco Health & Welfare Plan pursuant to COBRA or were eligible for COBRA under an MSG Networks a Spinco Health & Welfare Plan and incur any COBRA claims after the Effective Date. MSG Networks Spinco shall be responsible for the claims incurred by Spinco MSG Entertainment Participants prior to the Effective Date, regardless of whether payments for such claims are made or due after the Effective Date. MSG Networks Spinco (acting directly or through its Subsidiaries) shall be responsible for administering compliance with the certificate of creditable coverage requirements of HIPAA applicable to the MSG Networks Spinco Health & Welfare Plans with respect to Spinco MSG Entertainment Participants for the period ending on the Effective Date. The Parties hereto agree that neither the Distribution nor any transfers of employment directly from the MSG Networks Entertainment Group to the Spinco Group or directly from the Spinco Group to the MSG Networks Entertainment Group that occur before the Effective Date shall constitute a COBRA “qualifying event” for purposes of COBRA.
Appears in 3 contracts
Samples: Employee Matters Agreement (Madison Square Garden Entertainment Corp.), Employee Matters Agreement (MSGE Spinco, Inc.), Employee Matters Agreement (MSGE Spinco, Inc.)
