Common use of COBRA Premiums Clause in Contracts

COBRA Premiums. If Employee timely elects continued coverage under COBRA, the Company will reimburse Employee’s COBRA premiums to continue Employee’s coverage (including coverage for Employee’s eligible dependents, if applicable) (“COBRA Premiums”) through the period starting on the Separation from Service date and ending six (6) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) after the Separation from Service date (the “COBRA Premium Period”); provided, however, that the Company’s provision of such COBRA Premium benefits will immediately cease if during the COBRA Premium Period Employee becomes eligible for group health insurance coverage through a new employer or Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Employee becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Employee must immediately notify the Company, in writing, of such event.

Appears in 4 contracts

Samples: Executive Employment Agreement (ShouTi Inc.), Executive Employment Agreement (Structure Therapeutics Inc.), Executive Employment Agreement (ShouTi Inc.)

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COBRA Premiums. If Employee timely elects continued coverage under COBRA, the Company will reimburse Employee’s COBRA premiums to continue Employee’s coverage (including coverage for Employee’s eligible dependents, if applicable) (“CIC COBRA Premiums”) through the period starting on the Separation from Service date and ending six (6) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) months after the Separation from Service date (the “CIC COBRA Premium Period”); provided, however, that the Company’s provision of such CIC COBRA Premium benefits will immediately cease if during the CIC COBRA Premium Period Period, Employee becomes eligible for group health insurance coverage through a new employer or Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Employee becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the CIC COBRA Premium Period, Employee must immediately notify the Company, in writing, of such event.

Appears in 4 contracts

Samples: Executive Employment Agreement (ShouTi Inc.), Executive Employment Agreement (ShouTi Inc.), Executive Employment Agreement (Structure Therapeutics Inc.)

COBRA Premiums. If Following the Termination Date, if Employee is eligible and timely elects continued coverage under COBRA, the Company Flow or its successor will reimburse pay Employee’s 's COBRA premiums to continue Employee’s 's coverage (including coverage for Employee’s eligible dependents, if applicablecurrently provided) (“COBRA Premiums”) through during the eighteen-month period starting following the Termination Date on an after-tax basis and thereafter Employee will be charged the Separation from Service date and ending six (6) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) after the Separation from Service date (the “full cost of COBRA Premium Period”)coverage; provided, however, that the Company’s provision of such COBRA Premium benefits Flow will immediately cease if during to pay the COBRA Premium Period Premiums if: (A) Employee becomes eligible for group health insurance plan coverage through a new employer employer, or (B) Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan terminationcoverage. In the event If Employee becomes covered eligible under another employer’s 's group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Periodeighteen-month period following the Termination Date, Employee must immediately notify the Company, in writing, Flow of such event.event and Flow will cease payment of the COBRA Premiums; and

Appears in 3 contracts

Samples: Change in Control Agreement (Flow International Corp), Change in Control Agreement (Flow International Corp), Change in Control Agreement (Flow International Corp)

COBRA Premiums. If Employee timely elects continued coverage under COBRA, the Company will reimburse pay Employee’s COBRA premiums to continue Employee’s coverage (including coverage for Employee’s eligible dependents, if applicable) (“CIC COBRA Premiums”) through the period starting on the Separation from Service date and ending six [##] (6[##]) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) after the Separation from Service date (the “CIC COBRA Premium Period”); provided, however, that the Company’s provision of such CIC COBRA Premium benefits will immediately cease if during the CIC COBRA Premium Period Period, Employee becomes eligible for group health insurance coverage through a new employer or Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Employee becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the CIC COBRA Premium Period, Employee must immediately notify the Company, in writing, of such event.

Appears in 2 contracts

Samples: Employment Agreement (Atara Biotherapeutics, Inc.), Employment Agreement (Atara Biotherapeutics, Inc.)

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COBRA Premiums. If Employee timely elects continued coverage under COBRA, the Company will reimburse pay Employee’s COBRA premiums to continue Employee’s coverage (including coverage for Employee’s eligible dependents, if applicable) (“COBRA Premiums”) through the period starting on the Separation from Service date and ending six [##] (6[##]) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) after the Separation from Service date (the “COBRA Premium Period”); provided, however, that the Company’s provision of such COBRA Premium benefits will immediately cease if during the COBRA Premium Period Employee becomes eligible for group health insurance coverage through a new employer or Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Employee becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Employee must immediately notify the Company, in writing, of such event.

Appears in 2 contracts

Samples: Employment Agreement (Atara Biotherapeutics, Inc.), Employment Agreement (Atara Biotherapeutics, Inc.)

COBRA Premiums. If Employee timely elects continued coverage under COBRA, the Company will reimburse Employee’s COBRA premiums to continue Employee’s coverage (including coverage for Employee’s eligible dependents, if applicable) (“CIC COBRA Premiums”) through the period starting on the Separation from Service date and ending six twenty-four (624) months (or if either the Company or the Cayman Parent is then publicly-traded, then twelve (12) months) after the Separation from Service date (the “CIC COBRA Premium Period”); provided, however, that the Company’s provision of such CIC COBRA Premium benefits will immediately cease if during the CIC COBRA Premium Period Period, Employee becomes eligible for group health insurance coverage through a new employer or Employee ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Employee becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the CIC COBRA Premium Period, Employee must immediately notify the Company, in writing, of such event.

Appears in 1 contract

Samples: Employment Agreement (Atara Biotherapeutics, Inc.)

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