As of the Termination Date # the vested portion of each option award will be exercisable for 90 days thereafter, or any longer period specified in the Plan or the applicable option award agreement, subject to the maximum term applicable to such option, and the unvested portion of all option awards shall be forfeited to the Company, and # with respect to unvested restricted stock awards, all restrictions on unvested shares shall continue to lapse as if your termination had not occurred.

new employment or self-employment (such period from the termination date through the earliest of [(A) through (C)], the “COBRA Payment Period”). Notwithstanding the foregoing, if the Company determines, in its sole discretion, that the payment of the COBRA premiums could result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of providing the COBRA premiums, the Company, in its sole discretion, may elect to instead pay you on the first day of each month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), for the remainder of the COBRA Payment Period. You may, but are not obligated to, use such Special Severance Payment toward the cost of COBRA premiums. On the sixtieth (60th) day following your Separation from Service, the Company will make the first payment under this clause (and, in the case of the Special Severance Payment, such payment will be you, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date had such payments commenced on the Separation from Service through such sixtieth (60th) day, with the balance of the payments paid thereafter on the schedule described above. If you become eligible for coverage under another employer’s group health plan or otherwise cease to be eligible for COBRA during the period provided in this clause, you must immediately notify the Company of such event, and all payments and obligations under this clause shall cease;

be discontinued on the effective date of his new health, dental and/or vision coverage. Notwithstanding the forgoing, the Company may, in lieu of making the COBRA Contribution, pay to Executive a lump-sum amount equivalent to such payments, based on the employer portion of the COBRA premiums applicable at the time of the Retirement Date.

Cash and COBRA Severance. The aggregate amount of the Cash and COBRA Severance (as defined in the Offer Letter) will be equal to Nine Hundred Thousand Dollars ($900,000), plus an amount equal to the cash bonus Employee otherwise would have received under [[Organization A:Organization]]’s fiscal year 2021 bonus plan in which Employee participated as of the Termination Date, based on # Employee’s target bonus opportunity of $865,000 for [[Organization A:Organization]]’s fiscal year 2021, and # actual performance for [[Organization A:Organization]]’s fiscal year 2021 compared to the applicable performance metrics set forth under such plan, but with such resulting amount prorated to reflect the portion of [[Organization A:Organization]]’s 2021 fiscal year during which Employee was an employee of the Company.

Renewal Premiums. The Ceding Company shall not accept additional premium in accordance with [Section 3.02] with respect to any tax sheltered Reinsured Policy, except as required by the express terms of such Reinsured Policy.

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.

the COBRA eligible health care insurance benefits (e.g., health, dental) being provided by the Company [[Organization B:Organization]] Executive on the Date of Termination shall continue in place at the same cost [[Organization B:Organization]] Executive as applied to “active” participants on the Date of Termination for a period equal [[Organization B:Organization]] lesser of # the COBRA Benefit Period or # twelve (12) months (“Health Care Continuation Benefit”). The “COBRA Benefit Period” means the period of time after such termination during which COBRA benefits are available [[Organization B:Organization]] Executive as of the Date of Termination as set forth in the Company’s health care plan. The Executive shall be responsible for applying for the COBRA eligible health care insurance benefit, paying for the same and submitting evidence of such premium costs [[Organization B:Organization]] for reimbursement during the COBRA Benefit Period. The Company shall reimburse the Executive for the employer’s portion of such premiums (as applicable [[Organization B:Organization]] active rate) within 15 days of receipt of evidence of the payment of the premium costs [[Organization B:Organization]] (“Premium Reimbursement Payments”). Notwithstanding the foregoing, if the Company determines, in its sole discretion, that such reimbursement of the premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended (the “Code”) or any statute or regulation of similar effect (including but not limited [[Organization B:Organization]] 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of reimbursing the premiums, the Company, in its sole discretion, may elect to instead pay the Executive on the first day of each month of such period, a fully taxable cash payment equal [[Organization B:Organization]] premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), for the remainder of such period. The Executive may, but is not obligated to, use such Special Severance Payment toward the cost of premiums.

If Executive resigns without Good Reason, or the Company terminates Executive’s employment for Cause, or upon Executive’s death or disability, then # Executive will no longer vest in the Options, # all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), and # Executive will not be entitled to any severance benefits, including (without limitation) the Severance, COBRA Premiums, Special Cash Payments or Accelerated Vesting. In addition, Executive shall resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination.

Employee’s coverage under ​’s health and all other employee benefit programs will end January 31, 2015. If the Employee elects COBRA coverage with respect to ​’s health plan, then ​ will pay the Employee’s COBRA payments for the months of February, 2015 and March, 2015, after which the Employee will be solely responsible for the continued payment of monthly COBRA premiums.

Section # Medical, Dental and Vision Coverage. Unless otherwise provided in the applicable Schedule, if a Qualifying Employee is entitled to file, and does timely file, an election to continue any health benefits under a medical, dental and/or vision benefit program sponsored by McDonald’s Corporation in accordance with the provisions of COBRA, the Employer shall pay a portion of such COBRA Premiums, as specified in the next sentence, during the Severance Period, out of the total period of eighteen months normally provided for by COBRA. During the Severance Period, the Qualifying Employee shall be required to pay a portion of the COBRA Premiums equal to what he or she would pay for such health benefits under the applicable program of McDonald’s Corporation, if he or she had remained employed, and the Employer shall pay the balance of such COBRA Premiums. The Employer’s payments, as applicable, shall be made to the entity funding the applicable plan coverage, and not to the Qualifying Employee. The Qualifying Employee must pay his or her share of such COBRA Premiums and may not have such cost withheld from the Severance Pay nor contributed to any cafeteria or flexible spending account. After the Severance Period ends, any further COBRA to which the Qualifying Employee may be entitled shall continue only if the Qualifying Employee pays the full cost thereof at the rate of 102% of both the employee and the employer premium costs under the applicable plans. The Employers shall not pay any portion of the COBRA Premiums for more than twelve months, regardless of whether the Qualifying Employee or his or her eligible dependents have an additional qualifying event under COBRA. Notwithstanding the foregoing, if COBRA is no longer required to be provided to a Qualifying Employee under the federal laws governing COBRA during the Severance Period, all payments of COBRA Premiums for that Qualifying Employee under this Plan will also end.