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Cobra Severance
Cobra Severance contract clause examples
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COBRA. If Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA, the Company shall pay the COBRA premium to provide Employee with such coverage until the earliest of the following: # July 1, 2023; # the DocuSign Envelope ID: [[Identifier]]-A83AF74A5718

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. If the payment of any COBRA or health insurance premiums by Stoke on behalf of Executive as described herein would otherwise violate any applicable nondiscrimination rules or cause the reimbursement of claims to be taxable under the Patient Protection and Affordable Care Act of 2010, together with the Health Care and Education Reconciliation Act of 2010 (collectively, the “Act”) or Section 105(h) of the Code, the COBRA premiums paid by Stoke shall be treated as taxable payments (subject to customary and required taxes and employment- related deductions) and be subject to imputed income tax treatment to the extent necessary to eliminate any discriminatory treatment or taxation under the Act or Section 105(h) of the Code. If Stoke determines in its sole discretion that it cannot provide the COBRA benefits described herein under Stoke’s health insurance plan without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), Stoke shall in lieu thereof provide to Executive a taxable lump-sum payment in an amount equal to the sum of the monthly (or then remaining) COBRA premiums that Executive would be required to pay to maintain Executive’s group health insurance coverage in effect on the Separation Date for the remaining portion of the period for which Executive shall receive the payments described in Section 4(b) above.

COBRA. If Employee elects to receive continued medical and dental insurance coverage provided by [[Verso:Organization]] for Employee and Employee’s eligible dependents, pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then Employee will be reimbursed by [[Verso:Organization]] for the amount of Employee’s COBRA premiums to continue the coverage that was in effect immediately prior to Employee’s termination of employment with [[Verso:Organization]], for eighteen (18) months; provided, however, that such period shall be twenty-four (24) months in the case of a Change in Control Termination. If elected, such coverage will begin on the first day of the month immediately following the date of termination of Employee’s employment, and [[Verso:Organization]]’s obligations with respect to such continued coverage will cease upon the first to occur of Employee’s death, the date that Employee becomes eligible for coverage under the health plan of a future employer, or the date that [[Verso:Organization]] ceases to offer group health coverage to its active executive employees or [[Verso:Organization]] is otherwise under no obligation to offer COBRA continuation coverage to Employee; provided, further, that [[Verso:Organization]]’s obligations with respect to such continued coverage are subject to [[Verso:Organization]]’s ability to comply with applicable [[Organization B:Organization]] and provide such benefit without resulting in adverse tax consequences.

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. For purposes of this Agreement, “COBRA” shall mean the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

COBRA. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish.

COBRA. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish.

COBRA. The Company shall pay directly to the applicable plan administrator the full cost for continuation of medical, dental and vision insurance coverage for Employee, Employee’s spouse and other eligible dependents under COBRA or similar federal, state or local law for a period of nine (9) months commencing on March 1, 2021, or until Employee has secured health insurance coverage through another employer, whichever occurs first, provided Employee timely elects such continuation coverage within the time period prescribed by applicable law. Notwithstanding the preceding, if the Company determines, in its sole discretion, that it cannot provide the foregoing COBRA benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or having the COBRA benefit be subject to tax, the Company will, in lieu thereof, instead provide the Employee a taxable payment in an amount equal to the monthly COBRA premium that the Employee would be required to pay to continue the Employee’s group health coverage in effect on the date of termination of employment (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether the Employee elects COBRA continuation coverage and will commence in the month following the month of the Termination Date and continue for the period of months indicated in this section.

COBRA. The Company shall reimburse Executive for the premium payments Executive makes for COBRA coverage for Executive and his eligible dependents for a period of twelve (12) months, or until Executive has secured comparable replacement health insurance coverage through another employer, whichever occurs first, provided Executive timely elects and pays for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA. COBRA reimbursements shall be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy, provided that Executive submits documentation to the Company substantiating Executive’s premium payments for COBRA coverage.

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