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Cobra Severance
Cobra Severance contract clause examples

COBRA. Should Mr. Haak timely elect and be eligible to continue receiving group health insurance pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will, until the twelve (12)-month anniversary of the Separation Date (the “COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on his behalf immediately prior to the Separation Date. The remaining balance of any premium costs during the COBRA Contribution Period, and all premium costs thereafter, shall be paid by Mr. Haak on a monthly basis for as long as, and to the extent that, he remains eligible for COBRA continuation.

COBRA. Should Mr. O’Donnell timely elect and be eligible to continue receiving group health insurance pursuant to the “COBRA” law, the Company will, until the eighteen (18)-month anniversary of the Separation Date (the “COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on his behalf immediately prior to the Separation Date. The remaining balance of any premium costs during the COBRA Contribution Period, and all premium costs thereafter, shall be paid by Mr. O’Donnell on a monthly basis for as long as, and to the extent that, he remains eligible for COBRA continuation.

COBRA. Should Executive timely elect and be eligible to continue receiving group health insurance pursuant to the “COBRA” law, the Company will, until the earlier of # the date that is twelve (12) months following the Separation Date, and # the date on which Executive obtains alternative coverage (as applicable, the “COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on Executive’s behalf immediately prior to the Separation Date. The remaining balance of any premium costs during the COBRA Contribution Period, and all premium costs thereafter, shall be paid by Executive on a monthly basis for as long as, and to the extent that, Executive remains eligible for COBRA continuation. Executive agrees that, should Executive obtain alternative medical and/or dental insurance coverage prior to the date that is twelve (12) months following the Separation Date, Executive will so inform the Company in writing within five (5) business days of obtaining such coverage.

Reimbursement of COBRA Premiums – Should Executive be eligible for and timely elect to continue receiving group health insurance coverage under the law known as COBRA, the Company shall, commencing on the Separation Date, and continuing until the earlier of # the date that is nine (9) months following the Separation Date, and # the end of the calendar month in which Executive commences other full time employment (or becomes eligible through any other employment to receive group healthcare benefits substantially comparable to those provided by the Company) (the “COBRA Contribution Period”), reimburse Executive for the premiums for such coverage. All premium costs after the COBRA Contribution Period, shall be paid by Executive on a monthly basis during the elected period of health insurance coverage under COBRA for as long as, and to the extent that, he remains eligible for and elects to remain enrolled in COBRA continuation coverage. Executive agrees that, should he commence full time employment with another employer (or become eligible through any other employment to receive group healthcare benefits substantially comparable to those provided by the Company) prior to the date that is nine (9) months following the Separation Date, he will so inform the Company in writing within five (5) business days of becoming eligible for such coverage.

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