Common use of Health & Welfare Benefits Coverage Clause in Contracts

Health & Welfare Benefits Coverage. (a) Following the occurrence of a Termination Event described in this Article III, to the extent permitted by COBRA and by the Company’s group health insurance policies, Executive and/or Executive’s covered dependents will be eligible to continue their health insurance benefits at their own expense. However, if Executive and/or Executive’s covered dependents timely elects COBRA continuation for Executive and/or Executive’s covered dependents, the Company shall reimburse Executive’s and/or Executive’s covered dependents’ COBRA continuation premiums for group health coverage for 24 months, provided that the Company’s obligation to make such reimbursements shall cease immediately to the extent that Executive and/or Executive’s covered dependents are no longer entitled to receive COBRA continuation coverage. Executive agrees to notify a duly authorized officer of the Company, in writing, immediately upon Executive’s and/or a covered dependent’s beginning to receive health benefits from another source, or as otherwise required by COBRA. This Section 3.6(a) provides only for the Company’s reimbursement of COBRA continuation premiums for the periods specified above. This Section 3.6(a) does not affect the rights of Executive or Executive’s covered dependents under any applicable law with respect to health insurance continuation coverage. Such reimbursement shall be made as soon as administratively feasible following the Company’s receipt of appropriate documentation.

Health & Welfare Benefits Coverage. (a) Following the occurrence of a Termination Event described in this Article IIISection 2.1, to the extent permitted by COBRA the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended and codified in Section 4980B of the Code and the regulations thereunder (“COBRA”) and by the Company’s group health insurance policies, Executive and/or Executive’s covered dependents will be eligible to continue their health insurance benefits at their own expense. However, if Executive and/or Executive’s covered dependents timely elects elect COBRA continuation for Executive and/or Executive’s covered dependents, the Company shall reimburse Executive’s Executive and/or Executive’s covered dependents’ COBRA continuation premiums for group health coverage for 24 12 months, provided that the Company’s obligation to make such reimbursements shall cease immediately to the extent that Executive and/or Executive’s covered dependents are no longer entitled by law to receive COBRA continuation coverage. Executive agrees to notify a duly authorized officer of the Company, Company in writing, writing immediately upon Executive’s and/or a covered dependent’s beginning to receive health benefits from another source, or as otherwise required by COBRA. This Section 3.6(a2.7(a) provides only for the Company’s reimbursement of COBRA continuation premiums for the periods specified above. This Section 3.6(a) , and does not affect the rights of Executive or and/or Executive’s covered dependents under any applicable law with respect to health insurance continuation coverage. Such reimbursement reimbursements shall be made as soon as administratively feasible following the Company’s receipt of appropriate documentation.