Common use of COBRA Payments Clause in Contracts

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to that portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) twelve (12) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and thereafter each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to that the portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) twelve eighteen (1218) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and thereafter and, thereafter, each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to that portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) twelve eighteen (1218) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and thereafter each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.

COBRA Payments. If Executive timely elects coverage under COBRA under any group health plan of the Company or an Affiliate, the Company will pay Executive a taxable monthly amount that, after applicable federal, state and local tax withholdings, is equal to that the portion of the cost of coverage that is subsidized by the Company for active employees as in effect from time to time until the earlier of: (i) twelve twenty-four (1224) months following the Date of Termination and (ii) the expiration of the Executive’s COBRA coverage. The first monthly payment shall be paid to Executive within sixty (60) days following the Date of Termination and thereafter and, thereafter, each subsequent monthly payment shall be paid on the first payroll date in each month following the Date of Termination.