Health and Dental Insurance/Death Benefit
Third Wave Technologies, Inc. (TWT) and you have mutually agreed to terminate your employment effective March 16, 2006. Between now and March 16, 2006, you will remain available to assist TWT with its February earnings call, its 10-K filing and as otherwise needed. In consideration for your agreement to the terms of the attached Agreement, TWT will pay you severance pay at your current salary level through December 31, 2006. In addition, you will receive a supplemental transition payment and an amended stock option grant. Details regarding these items are fully set forth in the attached Agreement. If you agree to its terms after you have read and considered the Agreement that follows, please sign it in the space provided at the end of the Agreement and return it to TWT. Please note that Section 13 of the Agreement requires you to represent that, between the time you receive this Agreement and up until the time you sign this Agreement and as part of this Agreement, you have not and agre
Health and Dental Insurance/Death Benefit. Your COBRA continuation rights with respect to health and dental insurance will begin on March 16, 2006. TWT will pay the premiums for your health and dental insurance coverage from March 16, 2006 through December 31, 2006. You are responsible for paying the premiums for any health and dental insurance coverage after December 31, 2006, whether through TWTs group health and dental policy pursuant to COBRA continuation rights or through any other employer or individual plan. In the event you secure alternative employment that provides health and dental insurance coverage, you will notify TWT, and TWTs obligations under this Section 7 will cease. TWT will not be responsible for any lapse in COBRA coverage. In the event of your death, TWT will pay any remaining severance and supplemental transition payments during the period covered by this agreement.