Continuing Medical Coverage. If your employment is terminated as a result of an Involuntary Termination, whether or not a Change in Control Period, and you sign a release of claims (in a form satisfactory to Borland, an example of which is attached hereto as Appendix B), then you shall be entitled to payment for your premiums for health (i.e., medical, vision and dental) continuation coverage under COBRA; provided, however, that (i) you are eligible for COBRA on the Termination Date and (ii) you elect continuation coverage pursuant to COBRA, within the required time period. Borland shall continue to provide you with health coverage pursuant to this paragraph until the earliest of (i) the date you are no longer eligible to receive continuation coverage pursuant to COBRA, (ii) twelve (12) months from the Termination Date or (iii) the date on which you obtain comparable health coverage. You agree to notify Borland promptly after you obtain alternative health coverage.
Continuing Medical Coverage. For a period of two (2) years from Executive’s Date of Termination, or such longer period as may be provided by the terms of the appropriate medical and/or welfare benefit plan, program, practice or policy, the Company shall provide benefits to Executive and/or Executive’s eligible dependents equal to those that would have been provided to them in accordance with the plans, programs, practices and policies if Executive’s employment had not been terminated; provided, however, that with respect to any of such plans, programs, practices or policies requiring an employee contribution, Executive shall continue to pay the monthly employee contribution for same, and provided further, that if Executive becomes employed by another employer and is eligible to receive medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility.
Continuing Medical Coverage. If Executive incurs a Qualifying Termination of Employment, for a period of two (2) years following Executive’s Date of Termination, or such longer period as may be provided by the terms of the appropriate medical and/or welfare benefit plan, program, practice or policy, subject to Executive’s valid election of COBRA continuation coverage, the Company shall provide benefits to Executive and/or Executive’s eligible dependents equal to those that would have been provided to them in accordance with the plans, programs, practices and policies if Executive’s employment had not been terminated; provided, however, that with respect to any of such plans, programs, practices or policies requiring an employee contribution, Executive shall continue to pay the monthly employee contribution for same; provided, further, that if Executive becomes employed by another employer and is eligible to receive medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. Notwithstanding the previous sentence, with regard to such COBRA continuation coverage, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s and Executive’s covered dependents’ group insurance coverage as in effect on the Date of Termination (which amount shall be based on the premiums for the first month of COBRA coverage). EXTERRAN HOLDINGS, INC. PAGE 2 OF 10 CHANGE OF CONTROL AGREEMENT
Continuing Medical Coverage. Following the expiration of the Welfare Period, if Executive was participating in a Retiree Plan during the Welfare Period and if Executive has not become eligible, as a full time employee, for group insurance from another employer, then Executive may continue participation in the Retiree Plan for Executive and any eligible dependents (including Executive’s spouse) through Executive’s 65th birthday subject to the terms and conditions of such plan, so long as Executive pays for the full cost of such participation. Notwithstanding the foregoing sentence, if following the expiration of the Welfare Period, a Retiree Plan is no longer offered or is terminated, and Executive has not become eligible for group insurance coverage from another employer or otherwise obtained medical coverage, the Company shall use commercially reasonable efforts to assist Executive in obtaining medical insurance coverage reasonably equivalent to the medical benefits provided to then-active employees of the Company who are not covered under a collective bargaining agreement for Executive and his eligible dependents (including Executive’s spouse) through Executive’s 65th birthday, so long as Executive pays for the full cost of such coverage. Notwithstanding the foregoing, in the event fulfilling its commitments under this Section 4.7 by reason of change in applicable law, may, in the Company’s reasonable view, result in tax or other penalties on the Company, this provision shall terminate and the parties shall, in good faith, negotiate for a substitute provision which does not result in such tax or other penalties. For the avoidance of doubt, should Executive have a surviving spouse at the time of his death, such spouse shall have the same rights as Executive with respect to the Welfare Benefit, and after the expiration of the Welfare Period as provided for in this Section 4.7, as Executive would have had under this Agreement and further, the rights such Executive would have had through any such surviving spouse’s 65th birthday; provided, however, that if any such Retiree Plan does not permit independent elections by a spouse, the Company will provide payment for other coverage during the Welfare Period and for both the remaining Welfare Period and after the Welfare Period will use commercially reasonable efforts to assist such spouse in obtaining medical insurance coverage as would have been provided to Executive under this Agreement through such spouse’s 65th birthday.
Continuing Medical Coverage. For a period of two (2) years following Executive’s Date of Termination, or such longer period as may be provided by the terms of the appropriate medical and/or welfare benefit plan, program, practice or policy, subject to Executive’s valid election of COBRA continuation coverage, the Company shall provide benefits to Executive and/or Executive’s eligible dependents equal to those that would have been provided to them in accordance with the plans, programs, practices and policies if Executive’s employment had not been terminated; provided, however, that with respect to any of such plans, programs, practices or policies requiring an employee contribution, Executive shall continue to pay the monthly employee contribution for same; provided, further, that if Executive becomes employed by another employer and is eligible to receive medical or other welfare benefits under such employer’s plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. Notwithstanding the previous sentence, with regard to such COBRA continuation coverage, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s and Executive’s covered dependents’ group insurance coverage as in effect on the Date of Termination (which amount shall be based on the premiums for the first month of COBRA coverage).
Continuing Medical Coverage. Upon Xx. Xxxxxxxxxx’ termination of employment for any reason, he and his spouse will continue to be eligible to participate in the Company’s group health plan until Xx. Xxxxxxxxxx’ death or, in the event Xx. Xxxxxxxxxx predeceases his spouse, his spouse’s death, subject to the conditions of such group health plan, so long as Xx. Xxxxxxxxxx or his spouse, as applicable, pays taxes on the value of the benefits provided (the “Continuing Medical Coverage Benefit”). Notwithstanding the foregoing, in the event fulfilling its commitments to provide the Continuing Medical Coverage Benefit by reason of change in applicable law, may, in the Company’s reasonable view, result in tax or other penalties on the Company, this provision shall terminate and the parties shall, in good faith, negotiate for a substitute provision which does not result in such tax or other penalties.
Continuing Medical Coverage. The Company shall pay the Executive a lump-sum amount on the sixtieth (60th) day after the Separation Date equal to twenty-four (24) months of the portion of the monthly premiums that would be payable by the Company under the Company’s group health plan following the Separation Date had the Executive’s employment not terminated, based upon the Executive’s elections as in effect on the Separation Date, together with the monthly administrative fee that would be assessed under COBRA. Should the Executive elect to continue health insurance coverage through COBRA beyond the Separation Date (for as long as COBRA permits), the Executive will be solely responsible for enrolling in such coverage, the cost of that coverage (including the associated administrative fee), and for ensuring the full amount of the premium payments are timely made. The Executive acknowledges that the lump-sum payment representing the Company’s monthly portion of the premiums and administrative fees paid to the Executive will constitute taxable income to the Executive.
