Health Care Continuation Coverage. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you may be eligible to continue your group health insurance benefits at your own expense (after any period during which the Company is reimbursing for certain medical costs pursuant to the terms of the Employment Agreement) regardless of whether you sign this Agreement. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish.
Health Care Continuation Coverage. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will remain eligible to continue your group health insurance benefits following the Separation Date. You have already elected COBRA coverage and have been paying your full share of the premiums since the Separation Date. Accordingly, provided that you sign and do not revoke this Agreement and that you remain eligible for and enrolled in COBRA, the Company will pay the portion of the monthly COBRA premiums due for such coverage above at the active employee rate to continue your coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) ending on the earliest to occur of: (i) June 21, 2020; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA prior to June 21, 2020 you must immediately notify the Company of such event. Upon receipt of documentation of the expenses you have paid since the Separation Date towards your COBRA premiums, the Company will reimburse you for such amounts paid up until the time it commences payment of such premiums on your behalf in connection with this Section 4.
Health Care Continuation Coverage. With respect to all health plans maintained for Transferred U.S. Employees, Purchaser agrees to provide (directly or through its Affiliates) continuation coverage required by COBRA to all Transferred U.S. Employees and their covered beneficiaries who are entitled to COBRA coverage with respect to qualifying events that occur after the Closing Date. Purchaser agrees to pay and be responsible for all liability, cost, expense, taxes and sanctions under Section 4980B of the Code, and interest and penalties imposed upon, incurred by, or assessed against Purchaser or an Employee Transferor that arise with respect to the Transferred U.S. Employees and their covered beneficiaries after the Closing Date by reason of, or relating to, any failure by Purchaser and its Affiliates to comply with the health care continuation coverage requirements of COBRA.
Health Care Continuation Coverage. Purchaser agrees to provide Transferred Employees and their covered beneficiaries with continuation coverage required by Section 4980B of the Code or Sections 601 through 608 of ERISA (“COBRA”) as a result of “qualifying events” (as defined in Section 4980B of the Code) which occur on or after the Closing.
Health Care Continuation Coverage. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If you timely elect continued coverage under COBRA, the Company will pay your COBRA premiums to continue your coverage (including coverage for eligible dependents, if applicable) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on the earliest to occur of: (i) the eighteen (18) month anniversary of the Separation Date; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event you become covered under another employer's group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company in writing of such event.
Health Care Continuation Coverage. Sellers shall be responsible for compliance with all requirements under Section 4980B of the Code and Section 601 et seq. of ERISA with respect to any (a) Transferred Employee or (b) family member of such Transferred Employee, in each case who becomes a qualified beneficiary within the meaning of Section 4980B(g)(1) of the Code as a result of any "qualifying event" within the meaning of Section 4980B(f)(3) of the Code which occurs on or prior to the Closing Date. Buyer shall be responsible for compliance with all requirements under Section 4980B of the Code and Section 601 et seq. of ERISA with respect to any (a) Transferred Employee or (b) family member of such Transferred Employee, in each case who becomes a qualified beneficiary within the meaning of Section 4980B(g)(1) of the Code as a result of any "qualifying event" within the meaning of Section 4980B(f)(3) of the Code which occurs after the Closing Date.
Health Care Continuation Coverage. The Seller shall remain liable for any group health plan continuation coverage required under Code Section 4980B(f) which is attributable to any “qualifying event” (within the meaning of Code Section 4980B(f)(3)) occurring with respect to any current or former employee of the Company or any Subsidiary prior to or on the Closing Date and the Buyer shall be responsible for providing any such group health plan continuation coverage to any US Transferred Employee attributable to any qualifying event occurring after the Closing Date; provided, however, that Buyer shall not be responsible to provide any such group health plan continuation coverage to any US Transferred Employee to the extent such Transferred Employee is entitled to receive and elects to receive such coverage under any of Seller’s Benefit Plans.
Health Care Continuation Coverage. Citizens shall be responsible for compliance with all requirements under Section 4980B of the Code and Section 601 et seq. of ERISA (collectively "COBRA") with respect to any (a) Transferred Employee and (b) family member of such Transferred Employee, in each case who becomes a "qualified beneficiary" within the meaning of Section 4980B(g)(1) of the Code as a result of any "qualifying event" within the meaning of Section 4980B(f)(3) of the Code which occurs on or prior to the Closing Date. Citizens also shall remain responsible for compliance with COBRA with respect to any (c) former employee of the Business or current employee of the Business who is not a Transferred Employee and (d) family member of such former employee or current employee, in each case who becomes a qualified beneficiary as a result of any qualifying event, whether such event occurs on, prior to or after the Closing Date. Citizens covenants and agrees that Buyer shall have no liability or responsibility for any of Citizens' COBRA obligations as described in this Section 10.12. Buyer shall be responsible for compliance with COBRA with respect to any (a) Transferred Employee and (b) family member of such Transferred Employee, in each case who becomes a qualified beneficiary as a result of any qualifying event which occurs after the Closing Date. In the event Seller shall fail or refuse to provide COBRA coverage as described in this Section 10.12 to the Transferred Employees and their family members who become qualified beneficiaries, Seller shall immediately so notify Buyer of such failure or refusal and shall provide Buyer a list of (a) each person employed in the Business within the 36 months immediately preceding the Closing Date and (b) each such employee and all dependents of such employee, in each case who had coverage at any time during such period and the dates during which he or she had coverage during the 36 months immediately preceding the Closing Date. For each person who had coverage from any of Seller's group health plans and lost such coverage at any time during the 36 months immediately preceding the Closing Date, Seller shall provide to Buyer a copy of the COBRA notice and election provided to each at the time of his/her qualifying event (as defined in IRC (S) 4980B(f)), copies of procedures used to notify each such qualified beneficiary of the qualifying event, evidence of any election of COBRA coverage, evidence of the reason for termination of each such COBRA coverage,...
Health Care Continuation Coverage. Sellers shall pay and be solely liable for all liability, cost, expense, taxes and sanctions under Section 4980B of the Code, and interest and penalties imposed upon, incurred by, or that arise by reason of or relate to any failure to comply with the health care continuation coverage requirements of Section 4980B of the Code and Sections 601 through 608 of ERISA, as amended ("COBRA Liabilities") (i) for any Employees who do not become Transferred Employees, (ii) for any qualified beneficiary (as defined in Section 4980B(g)(1) of the Code and Section 607(3) of ERISA) of individuals described in (i) above, (iii) for any Transferred Employee or qualified beneficiary of a Transferred Employee who does not elect to become covered under IMNM's group health plan in connection with the Transferred Employee's offer of employment with IMNM, provided that Sellers' obligation to provide group health plan coverage to any such individual shall terminate upon the date the individual becomes covered under the IMNM group health plan, and (iv) for any other qualified beneficiary (as defined above) who became such prior to the Closing Date. IMNM shall be responsible for all COBRA Liabilities with respect to any Transferred Employee who becomes covered under an IMNM group health plan (as defined previously) upon employment with IMNM, and any qualified beneficiary (as defined previously) of that Transferred Employee who becomes a qualified beneficiary after the Transferred Employee becomes covered under IMNM's group health plan.
Health Care Continuation Coverage. Your active employee health coverage will end on November 1, 2022. You will be eligible to continue your health insurance benefits via continued coverage under COBRA at your option. Other health insurance options may be also available on the health insurance marketplace. More information is available at xxxxx://xxx.xxxxxxxxxx.xxx/get-coverage. To assist you with obtaining health insurance coverage the Company will provide you with a one-time additional taxable cash payment of $24,000 in the first full regular payroll period after November 1, 2022. This health insurance subsidy may be used towards COBRA costs, marketplace coverage costs or to offset your future healthcare expenses. The payments and benefits described in Sections 1(a) and 1(b) above will be provided only if YOU sign and do not revoke this Agreement within the applicable revocation period and, at all times, YOU are in compliance with YOUR obligations under this Agreement and any other applicable documents (otherwise, such payments and benefits will be forfeited). Any payments held up pending the effluxion of the revocation period will be paid on the first regular payroll date after it expires. Upon receipt of the consideration provided for under this Agreement, YOU acknowledge YOU will have been paid all compensation and reimbursable expenses to which YOU are or may be entitled.
