Common use of Health Coverage Clause in Contracts

Health Coverage. If the Executive is entitled to the Payment under Section 2(a), the Company shall either (i) maintain the Executives health care coverage at a level of benefit equal to or better than the level of benefit enjoyed by the Executive immediately prior to the Change in Control, or (ii) if the Executive’s employment with the Company is terminated for any reason during the 18-month period following a Change in Control, reimburse the Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) until the earlier of the date that (A) the Executive becomes covered by comparable health coverage offered by another employer, or (B) is eighteen months (18) months after the Payment Date. In addition, the Company shall pay to the Executive, in a lump sum on the Payment Date, an amount equal to the difference between (A) the Company’s reasonable determination of present value of the continuation of the benefits described in this Section 2(f) for 24 months and (B) the Company’s reasonable determination of the present value of the benefits the Executive will receive under Section 2(f)(ii) above.

Health Coverage. If the Executive is entitled to the Payment under Section 2(a), the Company shall either (i) maintain the Executives Executive’s health care coverage at a level of benefit equal to or better than the level of benefit enjoyed by the Executive immediately prior to the Change in Control, or (ii) if the Executive’s employment with the Company is terminated for any reason during the 18-month period following a Change in Control, reimburse the Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) until the earlier of the date that (A) the Executive becomes covered by comparable health coverage offered by another employer, or (B) is eighteen months (18) months after the Payment Date. In addition, the Company shall pay to the Executive, in a lump sum on the Payment Date, an amount equal to the difference between (AX) the Company’s reasonable determination of present value of the continuation of the benefits described in this Section 2(f) for 24 months and (BY) the Company’s reasonable determination of the present value of the benefits the Executive will receive under Section 2(f)(ii) above.