Common use of COBRA Severance Clause in Contracts

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicable, following the Qualifying Termination until the earliest of: (a) six (6) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 6 contracts

Samples: Change in Control and Severance Agreement (Nautilus Biotechnology, Inc.), Change in Control and Severance Agreement (ARYA Sciences Acquisition Corp III), Change in Control and Severance Agreement (ARYA Sciences Acquisition Corp III)

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COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicable, following the Qualifying Termination until the earliest of: (a) six (6) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 4 contracts

Samples: Change in Control and Severance Agreement (Paymentus Holdings, Inc.), Change in Control and Severance Agreement (Paymentus Holdings, Inc.), Change in Control and Severance Agreement (Paymentus Holdings, Inc.)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.35(c), the Company Executive will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the receive Company’s -paid group health, dental and vision care plans coverage for Executive and any of Executive’s eligible dependents, as applicableapplicable (the “COBRA Severance”), following the Non-CIC Qualifying Termination until the earliest of: (aA) six twelve (612) months following the date of the Non-CIC Qualifying Termination, (bB) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (cC) the expiration of Executive’s (and any of Executive’s eligible dependents, as applicable) eligibility for continuation coverage under COBRA.

Appears in 2 contracts

Samples: Change in Control and Severance Agreement (Kinnate Biopharma Inc.), Change in Control and Severance Agreement (Kinnate Biopharma Inc.)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicable, following the Qualifying Termination until the earliest of: (a) six twelve (612) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (ARYA Sciences Acquisition Corp III)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicable, following the Qualifying Termination until the earliest of: (a) six (6) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.. 4849-8103-8559 v.4.docx

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Nautilus Biotechnology, Inc.)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.35(d), the Company Executive will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the receive Company’s -paid group health, dental and vision care plans coverage for Executive and any of Executive’s eligible dependents, as applicableapplicable (the “COBRA Severance”), following the Qualifying Termination until the earliest of: (aA) six (6) months following the date of the Qualifying Termination, (bB) the date 4884-6009-7293.1 - 2/8/2022 3:59:01 PM on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (cC) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (MedAvail Holdings, Inc.)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.36.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicableapplicable (the “COBRA Severance”), following the Qualifying Termination until the earliest of: (a) six twelve (612) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Informatica Inc.)

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COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the Company’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicableapplicable (the “COBRA Severance”), following the Qualifying Termination until the earliest of: (a) six [— (6) —)] months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (HashiCorp, Inc.)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.36(c), the Company Executive will pay the employer portion of the premiums required for continued coverage pursuant to COBRA under the receive Company’s -paid group health, dental and vision care plans coverage for Executive and any of Executive’s eligible dependents, as applicableapplicable (the “COBRA Severance”), following the Qualifying Termination until the earliest of: (aA) [twelve (12) months][nine (9) months] [six (6) months months] following the date of the Qualifying Termination, (bB) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (cC) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Alx Oncology Holdings Inc)

COBRA Severance. Subject to Executive timely electing continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and further subject to Section 5.3, the Company will pay the Group-paid employer portion of the premiums required for continued coverage pursuant to COBRA under the CompanyCompany Group’s group health, dental and vision care plans for Executive and any of Executive’s eligible dependents, as applicable, following the Qualifying Termination until the earliest of: (a) six twelve (612) months following the date of the Qualifying Termination, (b) the date on which Executive and Executive’s eligible dependents (as applicable) become covered under similar plans, or (c) the expiration of Executive’s (and any of Executive’s eligible dependents’, as applicable) eligibility for continuation coverage under COBRA.

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Nautilus Biotechnology, Inc.)

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