Reimbursement for COBRA Premiums. Subject to paragraph 4.3 below, if Executive’s termination of employment is for Good Reason, or by Company for any reason other than the expiration of the term as described in paragraph 4.1 or for any reason other than a reason encompassed by paragraph 2.2(i) (Executive’s death or presumed death), 2.2(ii) (Executive’s disability), or 2.2(iii) (for Cause), and Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) in accordance with the COBRA materials that will be provided to Executive by the Company or the Company’s third party COBRA administrator, the Company shall reimburse Executive the full COBRA premium and applicable administrative fee (if any) for the same medical, dental and vision benefit plan coverage (“Group Health Plan Coverage”) Executive and Executive’s dependents had as of the termination of employment (“Termination Date”) for a period of 18 months, or until Executive elects to receive group medical, dental and vision insurance from another source, whichever occurs first (such payments referred to herein as “COBRA Reimbursements”). COBRA Reimbursements will be made by the Company promptly upon proof of payment of Executive’s COBRA coverage and will be subject to usual and customary withholdings. Company will pay Executive such additional amount as is necessary to “gross up” the anticipated income tax liability resulting from such taxable income. Executive will be mailed a COBRA packet at his last known address. Such packet will contain additional information about Executive’s COBRA rights and responsibilities.
Reimbursement for COBRA Premiums. After the Termination Date, Executive may continue Executive's medical coverage on the same terms and conditions as any other employee entitled to elect COBRA continuation coverage under the Xxxxxxx Medical Plan. If Executive does elect COBRA continuation coverage, Xxxxxxx will reimburse Executive the costs of monthly COBRA coverage through the earlier of December 31, 2008 or the date Executive secures employment that provides health benefits.
Reimbursement for COBRA Premiums. If the Executive elects to receive continued coverage under the Company’s group health plans(s) after the Date of Termination pursuant Part 6 of Title I of the Employee Retirement Income Security Act of 1974, as amended, and Section 4980B of the Code (COBRA), the Company shall pay or promptly reimburse Executive for the cost of required premiums payable by the Executive for such Coverage during the period of such coverage, but not for a period extending beyond ___ months after the Date of Termination.
Reimbursement for COBRA Premiums. Provided Employee elects to continue health and/or welfare benefit insurance pursuant to COBRA, the Company will reimburse Employee for premiums to the same extent that it paid Employee’s premiums as of the Separation Date, for Employee and Employee’s dependents, for 12 months following the Separation Date, or until Employee cancels the underlying coverage. In order to receive reimbursement, Employee must submit proof of payment to the Company within 30 days of payment and the Company will remit payment for reimbursement no more than 30 days after timely submission of proof of payment.
