Common use of Health Care Benefit Clause in Contracts

Health Care Benefit. Following an Involuntary Termination, Parent shall pay to the Executive a monthly taxable cash payment in an amount equal (on an after tax basis, taking into account federal, state, local and foreign taxes) to the monthly COBRA (Consolidated Omnibus Budget Reconciliation Act) premium(s) in effect as of immediately prior to the Executive’s Involuntary Termination for the most expensive level of coverage under the group health plan(s) applicable to the Executive at the time of the Executive’s Involuntary Termination. The monthly payments will commence with the first month following the Executive’s Involuntary Termination and will terminate upon the earlier of (i) the Executive having received eighteen monthly payments and (ii) the Executive becoming re-employed and entitled to coverage under the new employer’s group health plan. The Executive agrees to notify Parent in writing immediately upon becoming re-employed and entitled to coverage under a new employer’s group health plan.

Health Care Benefit. Following an Involuntary Termination, Parent shall the Company will pay to the Executive a monthly taxable cash payment in an amount equal (on an after tax basis, taking into account federal, state, local and foreign taxes) to the monthly COBRA (Consolidated Omnibus Budget Reconciliation Act) premium(s) in effect as of immediately prior to the Executive’s Involuntary Termination for the most expensive level of coverage under the group health plan(s) applicable to the Executive at the time of the Executive’s Involuntary Termination. The monthly payments will commence with the first month following the Executive’s Involuntary Termination and will terminate upon the earlier of (ia) the Executive having received eighteen twelve monthly payments and (iib) the Executive becoming re-employed and entitled to coverage under the new employer’s group health plan. The Executive agrees to notify Parent the Company in writing immediately upon becoming re-employed and entitled to coverage under a new employer’s group health plan.

Health Care Benefit. Following an Involuntary Termination, Parent shall the Company will pay to the Executive a monthly taxable cash payment in an amount equal (on an after tax basis, taking into account federal, state, local and foreign taxes) to the monthly COBRA (Consolidated Omnibus Budget Reconciliation Act) premium(s) in effect as of immediately prior to the Executive’s Involuntary Termination for the most expensive level of coverage under the group health plan(s) applicable to the Executive at the time of the Executive’s Involuntary Termination. The monthly payments will commence with the first month following the Executive’s Involuntary Termination and will terminate upon the earlier of (ia) the Executive having received eighteen monthly payments and (iib) the Executive becoming re-employed and entitled to coverage under the new employer’s group health plan. The Executive agrees to notify Parent the Company in writing immediately upon becoming re-employed and entitled to coverage under a new employer’s group health plan.