The Executive may continue coverage with respect to the Company’s group health plans as permitted by the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for himself and each of his “Qualified Beneficiaries” as defined by COBRA (“COBRA Coverage”). The Company shall reimburse the amount of any COBRA premium paid for COBRA Coverage timely elected by and for the Executive and any Qualified Beneficiary of the Executive, and not otherwise reimbursed, during the period that ends on the earliest of # the date the Executive or the Qualified Beneficiary, as the case may be, ceases to be eligible for COBRA Coverage, # the last day of the consecutive eighteen (18) month period following the date of the Executive’s termination of employment and # the date the Executive or the Qualified Beneficiary, as the case may be, is covered by another group health plan. To reimburse any COBRA premium payment under this paragraph, the Company must receive documentation of the COBRA premium payment within ninety (90) days of its payment.

COBRA Benefits. “COBRA” as used herein shall mean the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended. Executive shall receive a lump sum payment in an amount equal to the cost of COBRA continuation for a period of not less than twelve (12) months.

COBRA. “COBRA” means the provisions regarding healthcare continuation coverage set forth in [Section 601] et seq. of ERISA and Section 4980B of the Code.

COBRA Reimbursement: Kohl’s health benefits are available to all newly hired Executives on the first of the month following 60 days of employment. Executives may continue their prior medical coverage through their previous employer under the COBRA law. Details regarding your COBRA rights will be provided by your prior employer. For the period between your start date and eligibility date, we will provide you with full COBRA assistance minus the applicable Kohl’s monthly premium.

expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. As an additional severance benefit, if you timely elect continued coverage under COBRA, the Company will reimburse you for or pay directly (at the Company’s discretion) the COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on the earliest to occur of: # December 31, 2023; # the date you become eligible for group health insurance coverage through a new employer; or # the date you cease to be eligible for COBRA continuation coverage for any reason. If the Company elects to reimburse you, you must timely pay your premiums, and then provide the Company with proof of same to obtain reimbursement for your COBRA premiums under this [Section 3(b)]. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay you, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums for that month for the remainder of the COBRA Premium Period, which you may (but are not obligated to) use toward the cost of COBRA premiums.

Medical/Dental Coverage: The Employers shall make the payments for COBRA Premiums provided for in [Section 4.3] of the Plan during the Participant’s COBRA Severance Period.

All Officers who are SMC members at the time of Job Elimination shall be reimbursed for any premiums paid by the Officer for continuation of coverage under COBRA with respect to any benefit plans maintained by the Corporation for which the Officer is eligible to elect COBRA coverage and does elect COBRA coverage.

Following your Termination Date, if you are eligible for and timely elect coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the cost of your medical benefits under COBRA, minus the cost of coverage for an active employee at level of Executive Vice President, for a period of 18 months, beginning in the month following your Termination Date. You will only be able to take the COBRA coverage if you pay the applicable employee cost on a monthly basis, and otherwise continue to remain eligible for COBRA. ​ will not withhold your share of these costs from any cash amounts owed to you. After the applicable 18-month period, you will be responsible for the full cost of any remaining COBRA coverage at the rate charged for non-subsidized COBRA coverage.

COBRA premium payments will begin on the Qualifying Employee’s COBRA start date and will be rounded to the end of the month in which the Severance Period ends.

If Lammersfeld was covered by the Bank's group health and/or dental insurance plans as of the Separation Date, and Lammersfeld timely elects COBRA continuation coverage, then the Bank will pay toward such COBRA continuation coverage and reimburse Lammersfeld at least monthly, an amount equal to the difference between the total cost of premiums for COBRA coverage and the Bank's normal employee share of health and/or dental insurance premiums, for the period beginning as of the first of the month following the Separation Date and expiring and ending on the earlier to occur of: # the end of the fifteenth # month following the date of the severance payment; or # the date on which Lammersfeld becomes eligible for other group health and/or dental insurance coverage. Lammersfeld will be responsible for timely payment of the full cost of premiums toward COBRA coverage pursuant to the mandates of COBRA. During such period of Bank-subsidized COBRA coverage, Lammersfeld agrees and acknowledges that the Bank's reimbursement towards such coverage shall be reported as taxable compensation to Lammersfeld. Should Lammersfeld wish to continue COBRA coverage after the period of time during which the Bank subsidizes such coverage under this Paragraph 3(B), Lammersfeld acknowledges and agrees that he will be solely responsible for payment of any and all amounts required to continue coverage in accordance with the mandates of COBRA. Lammersfeld agrees that within five (5) calendar days of becoming eligible for other group health or dental insurance, he will inform the Bank of such fact in writing;