Health Plan Coverage. In satisfaction of the provisions of [Section 4.02(d)] of the Severance Plan, the Company shall provide Executive and his eligible family members with continued medical, dental and accident insurance benefits under the applicable benefit programs of the Companies (the "health and welfare benefits"). If Executive makes timely application for such health and welfare benefits pursuant to Executive's benefit continuation rights under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), the Company shall pay the premiums for such coverage to the same extent paid by the Company immediately prior to the Termination Date for the first 18 months following the Termination Date, or the date on which Executive becomes eligible for comparable health and welfare benefits through a new employer, whichever is earlier. For the avoidance of doubt, the Company and Executive agree that the premiums paid for the benefit of Executive by the Company hereunder shall be taxed as imputed income to Executive.

Health Coverage Payment. The Corporation will make a cash payment (the "Health Coverage Payment") to Executive equal to 24 times the Corporation’s monthly pre-tax cost of contribution towards Executive’s then current employee and dependent health, prescription drug and dental coverage. If Executive is not enrolled in the Corporation’s health, prescription drug and dental plans, then the monthly amount will be equal to the Corporation’s contribution towards family coverage for such plans determined at the time employment terminates. Although the right to payment under this paragraph is based on the Corporation’s health, prescription drug and dental plan at the time employment terminates and is intended to fund payment for health coverage, the Health Coverage Payment is not required to be used for health coverage and Executive may use the Health Coverage Payment for any purpose. The Health Coverage Payment shall be paid to Executive in a single lump sum with the Cash Payment provided by Section 2(a).

Group Health Insurance Coverage. Employee’s group health insurance shall continue through the Separation Date. After such date, the Employee may elect to continue group health insurance at Employee’s own expense to the extent permitted by applicable law and in accordance with the group health insurance plan. Additional information about continuation coverage will be provided separately by the plan administrator.

Continuation of Health Coverage. You will receive information, under separate cover, regarding your rights under COBRA to a temporary extension of your group health coverage, as well as timeframes necessary for continuations, conversions and/or distribution of benefits under the Company’s benefit programs after your Termination Date and otherwise in accordance with the terms thereof.

Continuing Plan Coverage. For a period of two years following the Employment Termination Date, ​ will maintain in full force and continue to provide full benefits to Employee under all life insurance, health (medical and dental), accidental death and dismemberment, pension, and disability plans and programs in which Employee was entitled to participate immediately before the Employment Termination Date, except that # if Employee’s continued participation is not possible under the general terms and provisions of any such plan or program, ​ will provide Employee with benefits equivalent to those provided by each such plan and program, and # ​ will not be required to maintain any of these plans and programs, or the equivalent thereof, after Employee has either reached the normal retirement date under the retirement or pension plan in effect immediately before the Change in Control Date or secured full time employment with another employer that provides benefits to Employee under a comparable plan or program that are at least substantially equal to the benefits provided by ​. To assure compliance with Section 409A of the Internal Revenue Code, the timing of the provision of any benefits under this Section 6(c)(iii) will be subject to [Section B of Exhibit A] to this Agreement if and to the extent any part of that section is applicable according to its terms.

“COBRA Continuation Coverage” shall mean the continuation of group health plan coverage required under [Sections 601 through 608] of ERISA, and Section 4980B of the Code and any comparable continuation of group health plan coverage required by applicable state or local Law.

You are not eligible for a full Health Benefits Payment if you are eligible for coverage under a group health plan of your Employer or a Related Company after your Termination Date. For example, you are not eligible for the Health Benefits Payment if you are eligible for coverage under the Postretirement Welfare Benefits Plan for Employees of Hawaiian Electric Company, Inc. and Participating Employers. However, you will still be eligible for a partial Health Benefits Payment if the successor group health plan coverage for which you are eligible after your Termination Date does not include all of the benefit coverages which you received under your Employer’s group health plan or if not all of the dependents who were covered under your Employer’s group health plan are eligible for coverage under the successor group health plan. In such a case, the Health Benefits Payment will be calculated on the basis of the cost of coverages that are not included in the successor plan or the cost of covering dependents on a COBRA basis who are not eligible for coverage under the successor plan.

premiums for such continued Health Care Coverage, provided that if the Covered Officer shall become eligible to participate in Health Care Plans provided by another employer during the period, the Company shall be relieved of the requirement to provide such continued Health Care Coverage under this Plan;

Compensation shall include elective contributions as defined in Section 1.2(a) and elective contributions under a Code section 501(c)(18) plan. Elective contribution amounts under a cafeteria plan excludable under Code section 125 shall include any amounts not available to a participant in cash in lieu of group health coverage solely because the participant is unable to certify that he has other health coverage (deemed [section 125] compensation). Amounts are deemed [section 125] compensation only if the employer does not request or collect information regarding the participant's other health coverage as part of the enrollment process for the health plan.

Health Benefit Stipend: The health benefit stipend shall consist of the payment in a lump sum of an amount equal to the excess of 18 months’ COBRA premiums for continued group medical coverage (for the Executive Officer and his or her eligible dependents covered by the applicable HP group medical plan immediately prior to termination of employment) over the amount payable by active employees in the same plan with the same level of coverage for such premiums for a period of 18 months.