Common use of Post-Employment Health Coverage Clause in Contracts

Post-Employment Health Coverage. During the portion, if any, of the 18-month period following the Termination Date (the “COBRA Reimbursement Period”) that Executive elects to continue coverage for Executive, Executive’s spouse and/or Executive’s eligible dependents under the Company’s group health plans under COBRA, the Company will promptly reimburse Executive on a monthly basis for the COBRA Reimbursement Amounts; provided, however, that payment of the COBRA Reimbursement Amounts will cease immediately upon the date that Executive begins providing services to a subsequent employer (and any such provision of services shall be promptly reported to the Company by Executive); and provided, further, that the election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain the sole responsibility of Executive, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage. If Executive has elected to continue coverage for his spouse and/or eligible dependents and dies while he is receiving payment of the COBRA Reimbursement Amounts, his spouse and/or eligible dependents will continue to receive coverage and payment of the COBRA Reimbursement Amounts during the remainder, if any, of the COBRA Reimbursement Period, subject to his spouse’s and/or eligible dependent’s compliance with the terms of this Agreement, as applicable. Nothing contained herein is intended to limit or otherwise restrict any rights to continued group health plan coverage pursuant to COBRA following the COBRA Reimbursement Period, including, for the avoidance of doubt, the ability of Executive’s spouse and/or eligible dependents to elect to continue COBRA coverage if Executive dies or becomes incapacitated as a result of disability following termination of employment.