Medical Benefit Continuation. (i) It is the intention of the parties hereto that Executive's status as an active participant under the Company's basic group medical, life insurance and long term disability programs will continue insofar as permitted by the contracts with the Company's group insurance providers and by applicable law through the first anniversary of the date hereof. Any required employee contribution to the medical plan premium will be deducted from Executive's monthly salary continuation payments.
Medical Benefit Continuation. If the Executive is not permitted to continue participation in the Company's medical insurance plan pursuant to the terms of such plan or pursuant to a determination by the Company's insurance providers or such continued participation in any plan would result in the imposition of an excise tax on the Company pursuant to Section 4980D of the Intemal Revenue Code of 1986, as amended (the "Code"), the Company shall use reasonable efforts to obtain individual insurance policies providing medical benefits to the Executive during the Medical Benefits Continuation period, but shall be required to pay for such policies only an amount equal to the amount the Company would have paid had the Executive continued participation in the Company's medical plans; provided, that, if such coverage cannot be obtained, the Company shall pay to the Executive monthly during the Medical Benefit Continuation period an amount equal to the amount the Company would have paid had the Executive continued participation in the Company's medical plan. (d)
Medical Benefit Continuation. During the Severance Period, IE agrees to provide Cook full coverage under the Company's comprehensive group medicxx benefits program, subject to the terms of the plan. Any required employee contribution to the medical plan will be deducted from Cook's Salary Continuation payments. In addition, IE agrees thax xxx of the benefits that are to be provided to Cook pursuant to this Agreement will be provided to his heirs ix xxe event of his death during the period in which such benefits are being provided. Cook's statutory rights under COBRA to continue participation ix XX'x group medical coverage for a period of up to eighteen (18) months, at his own cost, shall begin at the termination of such twelve month period. IE's obligation to continue medical coverage will cease if Cook becomes eligible to participate in a comparable medical plxx xith a new employer. In this case, Cook agrees immediately to notify IE by written notice to W. Evxxxx Walker, Vice President of Human Resources, or her successxx.
Medical Benefit Continuation. (5) 100% acceleration of vesting of any outstanding time-based equity awards (including the remaining outstanding portion of the Sign-On RSUs); provided, however, that with respect to the Sign-On RSUs, notwithstanding the foregoing, if the consummation of a Change in Control occurs prior to the three month anniversary of the Effective Date, no more than 50% of the original number of Two Year RSUs and no more than 50% of the original number of Four Year RSUs will vest;
Medical Benefit Continuation. Upon any termination of employment with the Company for any or no reason, then subject to Executive entering into and not revoking a Release and such Release becoming effective within thirty (30) days thereafter, the Executive shall be entitled to receive continued medical benefits as provided in Section 6(e).
Medical Benefit Continuation. If at the time of any termination of the Executive’s employment with the Company, the Executive is covered by any Company-paid health plans or programs, then subject to the Executive timely electing continued group health coverage under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay the 100% of the cost, on behalf of Executive, for Executive’s continued group health, dental and vision coverage under COBRA for the Executive and the Executive’s eligible and covered spouse and/or dependents until the earlier of the end of the period to which the Executive, his spouse and/or dependents, as the case may be, are entitled to coverage (including as a result of any subsequent qualifying event that occurs and extends coverage for a person covered hereunder following the termination date) with respect to the Company’s group health, dental and vision plans under COBRA following the Termination Date, or the date that the Executive and his spouse and/or dependents become covered under another employer’s group health plans or programs that provide the Executive and his or her spouse and/or dependents with comparable benefits and levels of coverage.
Medical Benefit Continuation. The Company agrees to continue paying for a period of one year, beginning on September 28, 1998, Xxxxxxx'x group medical coverage through his former employer which he retained upon separation from his former employer pursuant to his statutory rights under COBRA. The Company's obligation to continue paying for such medical coverage under Xxxxxxx'x former employer group medical plan will cease if Xxxxxxx becomes eligible to participate in a comparable medical plan with a new employer. In this case, Xxxxxxx agrees to immediately provide written notification of this fact to the Vice President of Human Resources of the Company and the (acting) Chief Executive Officer of the Company.
Medical Benefit Continuation. The Company will provide a period of Medical Benefit Continuation to you, as set forth in the applicable severance plan document, consistent with your 2019 Enrollment Election (subject to change in a manner consistent with any similar changes permitted for then-current employees of the Company), from the date that your active employee medical coverage terminates through August 31, 2021, and this continued group medical coverage will reduce the duration of your eligibility for continued group medical coverage under COBRA on a co-extensive basis. This continuation of group medical coverage is intended as a continuation of medical benefits only and does not include a continuation of dental and vision benefits. Additionally, all Company contributions into your Health Savings Account (HSA) will cease upon the effective date of your termination. The Medical Benefit Continuation referenced above provides financial support to you with respect to required COBRA medical coverage premiums. During the Medical Benefit Continuation period provided for in this Section 3(b), the Company will assume the obligation for the COBRA medical premium costs. Please note that you must take affirmative action in order to receive this Medical Benefit Continuation, so it is important that you read the attached “At a Glance” document.
Medical Benefit Continuation. If Executive’s employment pursuant to this Agreement is terminated in accordance with Section 4.4, Executive shall receive a lump sum cash payment equal to the Company’s contribution to the monthly cost of the medical and dental benefits provided to Executive pursuant to Section 3.7 of this Agreement multiplied by twenty-four (24). If Executive’s employment pursuant to this Agreement is terminated in accordance with Section 4.5, the Executive shall receive a lump sum cash payment equal to the Company’s contribution to the monthly cost of the medical and dental benefits provided to Executive pursuant to Section 3.7 of this Agreement multiplied by thirty-six (36). Payment pursuant to this section shall be made at the same time and in the same manner as payments made pursuant to Sections 4.4 and 4.5.
Medical Benefit Continuation. The Company will provide a period of Medical Benefit Continuation to you, consistent with your 2018 Enrollment Election (subject to change in a manner consistent with any similar changes permitted for then-current employees of the Company), from the date that your active employee medical coverage terminates through December 31, 2018, and this continued group medical coverage will reduce the duration of your eligibility for continued group medical coverage under COBRA on a co-extensive basis. This continuation of group medical coverage is intended as a continuation of medical benefits only and does not include a continuation of dental and vision benefits. Additionally, all Company contributions into your Health Savings Account (HSA) will cease upon your Termination Date. The Medical Benefit Continuation referenced above provides financial support to you with respect to required COBRA medical coverage premiums. During the Medical Benefit Continuation period provided for in this Section 3(b), the Company will assume the obligation for the COBRA medical premium costs through December 31, 2018. Please note that you must take affirmative action in order to receive this Medical Benefit Continuation. The following disclosure pertains to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and how it may affect payments of deferred compensation under this Separation Agreement. The Code governs the taxation of deferred compensation, and contains provisions that accelerate income recognition and impose interest and additional taxes on payments and awards subject to Code Section 409A that fail to conform or are modified inconsistent with the requirements of Code Section 409A. You should review the content of this Agreement, specifically this paragraph 3, with your attorney and/or tax advisor for Section 409A compliance. You are solely liable for all tax, interest and penalties that might be imposed under Section 409A. The Company agrees to discuss modifying the terms of this paragraph 3 at your request, if necessary, to comply with the requirements of Section 409A and the regulations promulgated thereunder. Such request must be made within 21 days from the date of this letter. For purposes of this Agreement, each payment is intended to be excepted from Section 409A to the maximum extent provided under Section 409A as follows: each severance payment, including each individual installment payment, shall be treated as a separate payment. Each payme...
