Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if Executive elects continuation coverage pursuant to COBRA for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen (18) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 5 contracts
Samples: Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen (18) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 5 contracts
Samples: Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen twelve (1812) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 5 contracts
Samples: Severance and Change in Control Agreement (Shutterstock, Inc.), Severance and Change in Control Agreement (Shutterstock, Inc.), Severance and Change in Control Agreement (Fulcrum Bioenergy Inc)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a the three (3) month period following Executive’s termination of eighteen (18) months from the last date of employment of Executive with the Companyemployment, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 3 contracts
Samples: Employment Agreement (Flexible Solutions International Inc), Employment Agreement (Flexible Solutions International Inc), Employment Agreement (Flexible Solutions International Inc)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependentsdependents (including spouse), within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a the end of the six (6) month period of eighteen (18) months from following the last date of employment of Executive with the Companytermination date, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 3 contracts
Samples: Employment Agreement (OKYO Pharma LTD), Employment Agreement (OKYO Pharma LTD), Employment Agreement (OKYO Pharma LTD)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period the end of eighteen (18) months from the last date of employment of Executive with the CompanyStandard Severance Period, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the FORM ONLY - NOT FOR EXECUTION extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 3 contracts
Samples: Severance and Change in Control Agreement (Arcadia Biosciences, Inc.), Severance and Change in Control Agreement (Arcadia Biosciences, Inc.), Severance and Change in Control Agreement (Arcadia Biosciences, Inc.)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen (18) 12 months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Samples: Severance and Change in Control Agreement (Prosper Funding LLC)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen (18) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Samples: Severance and Change in Control Agreement (Fulcrum Bioenergy Inc)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of the eighteen (18) months from the last date month anniversary of employment of Executive with the CompanyExecutive’s termination date, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive FINAL consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Samples: Employment Agreement (Clover Health Investments, Corp. /De)
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period the end of eighteen (18) months from the last date of employment of Executive with the CompanyStandard Severance Period, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to FORM ONLY – NOT FOR EXECUTION avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen twelve (1812) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either applicable law, including, but not limited to Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen [MONTHS] (18x) months from following the last date of the Executive’s termination of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Continued Employee Benefits. In the case of a termination of Executive’s employment due to Disability only, if If Executive elects continuation coverage pursuant to COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of (A) a period of eighteen (18( ) months from the last date of employment of Executive with the Company, or (B) the date upon which Executive and/or Executive’s eligible dependents become becomes covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.
Appears in 1 contract
Samples: Severance and Change in Control Agreement (BrightSource Energy Inc)