COBRA Reimbursements. Any COBRA reimbursements under this Agreement shall be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy, provided that Executive submits documentation to the Company substantiating his payments for COBRA coverage. However, if the Company determines in its sole discretion that it cannot, without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), provide any COBRA reimbursements that otherwise would be due to Executive under this Section 7, the Company will in lieu thereof provide to Executive a taxable monthly payment (“Healthcare Premium payment”) in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue his or her group health coverage at coverage levels in effect immediately prior to Executive’s termination (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage. At the same time each monthly Healthcare Premium payment (if any is due) is paid to Executive, the Company also will provide Executive with a gross-up amount, determined by the Company, necessary to pay federal and state income and employment taxes incurred by Executive with respect to such Healthcare Premium payment (with such gross-up to be calculated by the Company based on the withholding rates the Company has in effect for Executive at the time the Healthcare Premium payment is paid to Executive). Any Healthcare Premium payments and any related gross-up payments will cease to be provided when, and under the same terms and conditions, COBRA reimbursements would have ceased under this Section 7. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to, continuation coverage under COBRA, and will be subject to all applicable withholdings. Notwithstanding anything to the contrary under this Agreement, if at any time the Company determines in its sole discretion that it cannot provide the payments contemplated by the preceding sentence without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), Executive will not receive such payment or any further reimbursements for COBRA premiums.
COBRA Reimbursements. If the Company determines in its sole discretion that it cannot, without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), provide any COBRA reimbursements that otherwise would be due to Executive under this Section 6, the Company will, in lieu of any such reimbursements to which Executive is entitled under Section 6(a), provide to Executive a taxable monthly payment over the applicable COBRA reimbursement period in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue his group health coverage at coverage levels in effect immediately prior to Executive’s termination (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage.
COBRA Reimbursements. If Employee is eligible to elect and elects to continue coverage for himself and his spouse and eligible dependents under the Company’s group medical, hospitalization, and dental plans pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the amount Employee pays to effect and continue such coverage under COBRA (the “COBRA Reimbursements”); provided, however, that (x) Employee shall notify the Company in writing within five days after he becomes eligible after the Date of Termination for group medical, hospitalization, or dental plan insurance coverage, if any, through subsequent employment or otherwise and Employer shall have no further obligation to provide the COBRA Reimbursements after Employee becomes eligible for group medical, hospitalization, or dental insurance plan coverage due to subsequent employment or otherwise; and (y) if Employee (or his spouse) is eligible for Medicare or a similar type of governmental medical benefit, such benefit shall be the primary provider before Employer medical benefits are provided. Employee shall send monthly invoices to the Company reflecting COBRA premiums paid by the last day of the month following the month in which the applicable premiums were paid by Employee and any COBRA Reimbursements due shall be made within 15 days of receipt of such invoices. For the avoidance of doubt, the COBRA Reimbursements are taxable and subject to withholding.
COBRA Reimbursements. The Company shall reimburse the Executive for COBRA health benefits paid for the period of the Term prior to the Executive's eligibility for medical benefits pursuant to Section 3.5 of the Agreement.
COBRA Reimbursements. To receive reimbursement of COBRA premiums under Sections 4(a)(iii) and 4(b)(iii), above, the Executive (or the Executive’s estate or beneficiaries, as applicable) must submit satisfactory proof of payment of COBRA premiums within 30 days of making the applicable payment (except that in the case of COBRA coverage for the month during which the Executive’s employment is terminated, the Executive shall have 60 days from the date of payment of such premiums to submit such proof). To the extent reimbursement is due hereunder, the Company will make such reimbursement within 30 days of receiving such proof from the Executive. If the payment of any amounts under this Section 4(e) is delayed pending the Executive’s (or the Executive’s estate’s or beneficiaries’) execution of the Release, on the next payroll date first following the date the Release becomes effective, the Company will pay the Executive a lump-sum amount equal to the cumulative amounts that would have otherwise been previously paid to the Executive under this Section 4(e) prior to the execution of such Release. Payments and benefits provided pursuant to this Section 4(e) shall be subject to the terms of Sections 24 and 25 below. Notwithstanding any other provision to the contrary, the Company’s reimbursement of COBRA continuation coverage may cease at any time the Executive (or the Executive’s family members or dependents, as applicable) is deemed eligible for group medical and/or dental coverage from another employer.
COBRA Reimbursements. If the Employee timely elects continued coverage under the Employer’s group medical and/or dental plan pursuant to section 4980B of the Internal Revenue Code of 1986, as amended, and Part 6 of Subtitle B of Title I of ERISA (COBRA”), for the “Premium Reimbursement Period” the Employer will reimburse the Employee each month for the difference between the amount the Employee pays for COBRA continuation coverage (for the Employee and the Employee’s covered spouse/dependents) compared to what the Employee paid (or would have paid if the Employee’s level of coverage changes — for example, from family to single coverage - during the Premium Reimbursement Period) for such coverage as of the day immediately preceding the Termination Date (“COBRA Reimbursements”). For purposes of this section, the “Premium Reimbursement Period” is the period that begins on the Termination Date and ends on the earliest of: (i) the last day of the nine (9) month period that begins on the first day of the month coincident with or first following the Termination Date, (ii) the date on which the Employee’s eligibility for COBRA continuation coverage ends or (iii) the date on which the Employee becomes covered by another group medical plan or group dental plan, as the case may be, sponsored by the Employee’s subsequent employer that does not contain any exclusion or limitation with respect to any pre-existing condition of the Employee’s or the Employee’s spouse/dependents. The Employer will make such COBRA Reimbursement payments no later than thirty (30) days after the date the Employee submits the reimbursement request to the Employer; provided, the Employee must submit requests (if at all) so that payment is made no later than March 15th of the calendar year following the calendar year during which the Employee incurs the COBRA expense.
COBRA Reimbursements. The “nine (9) month period” referenced in the definition of the “Premium Reimbursement Period” in paragraph B is changed to a “twelve (12) month period.”
COBRA Reimbursements. The Company shall reimburse the Individual for monthly premium costs he incurs for continuing his group health, dental, and vision coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), provided that the Individual timely elects insurance continuation coverage under COBRA by completing and returning the insurance continuation election form that will be provided under separate cover and that the Individual notifies the Company’s Board of Directors in writing within 30 days after he becomes eligible for health insurance coverage, if any, through subsequent employment. The Company shall reimburse the monthly amounts just mentioned for up to 18 months or until the Individual obtains subsequent employment that provides health insurance coverage, whichever is sooner.
COBRA Reimbursements. If the Company determines in its sole discretion that it cannot, without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), provide any COBRA reimbursements that otherwise would be due to Executive under this Section 6, the Company will, in lieu of any such reimbursements to which Executive is entitled under Section 6(a) or (b), as applicable, provide to Executive a taxable monthly payment over the applicable COBRA reimbursement period in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue his group health coverage at coverage levels in effect immediately prior to Executive’s termination (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage.
COBRA Reimbursements. If the Individual timely elects to continue group health insurance for himself, his spouse, and/or his dependents under COBRA, the Company shall reimburse him the monthly premium costs he incurs for such coverage under COBRA for up to four months (expected to be February 2015 - May 2015) or until the Individual becomes eligible for group health insurance coverage due to subsequent employment or otherwise, whichever is sooner. Individual agrees to notify the Company in writing within five (5) days after he becomes eligible for group health insurance coverage, if any, through subsequent employment or otherwise, and failure to so notify will invalidate the Company’s obligations pursuant to the foregoing and result in a right of the Company to recoup from the Individual any erroneous reimbursement made as a result of the failure to timely notify. Any reimbursements due under this subparagraph shall be made by the last day of the month following the month in which the applicable premiums were paid by the Individual.
