Common use of Continued Healthcare Clause in Contracts

Continued Healthcare. (i) If Executive and Executive’s eligible dependents then participating in the Company’s group health insurance plans timely elect to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay the premiums for such coverage for Executive and Executive’s covered dependents through the earlier of (i) the date that is eighteen (18) months following the Termination Date and (ii) the first date on which Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s) (the “COBRA Payment Period”). After the Company ceases to pay premiums pursuant to the preceding sentence, Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA.

Continued Healthcare. (i) If Executive and Executive’s eligible dependents then participating in the Company’s group health insurance plans timely elect to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay the premiums for such coverage premium for Executive and Executive’s covered dependents on a monthly basis through the earlier of (i) the date that is eighteen one (181) months following year anniversary of the Termination Date and (ii) the first date on which Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s) (the “COBRA Payment Period”). After the Company ceases to pay premiums pursuant to the preceding sentence, Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance with the provisions of COBRA.