Document ID: 11230

Text:
(ii) provided Executive and his eligible dependents timely and properly elect to continue health care coverage under the Consolidated Omnibus Reconciliation Act of 1985 ( COBRA ), continued participation by Executive and Executives eligible dependents in the standard group medical, dental and vision plans of the Company as in effect from time to time, on substantially the same terms and conditions as such benefits are provided to employees during the applicable period, and reimbursement by the Company of the monthly COBRA premium paid by Executive for him and his eligible dependents for nine (9)months or, if earlier, until the date Executive is no longer eligible to receive COBRA continuation coverage; provided, however, in the event the Company determines that such provisions would subject Executive to taxation under Section105(h)of the Internal Revenue Code of 1986, as amended (the Code), or otherwise violate any healthcare law or regulation, then, in lieu of reimbursing Executive, the Company shall pay to Executive an amount equal to the amount Executive would be required to pay for continuation of group health coverage for Executive and his eligible dependents through an election under COBRA for nine (9)months , which amount shall be paid in a lump sum at the same time payments under Section5(e)(i)commence and is intended to assist Executive with costs of health coverage, which Executive may (but is not required to) obtain through an election to continue health care coverage under COBRA ; and

Named Entities:
20
25
Act
27
27
Act
86
86
Act
118
118
Act
147
151
Act
211
211
Act
274
274
Act

Tokenized Text:
(
ii
)
provided
Executive
and
his
eligible
dependents
timely
and
properly
elect
to
continue
health
care
coverage
under
the
Consolidated
Omnibus
Reconciliation
Act
of
1985
(
COBRA
)
,
continued
participation
by
Executive
and
Executives
eligible
dependents
in
the
standard
group
medical
,
dental
and
vision
plans
of
the
Company
as
in
effect
from
time
to
time
,
on
substantially
the
same
terms
and
conditions
as
such
benefits
are
provided
to
employees
during
the
applicable
period
,
and
reimbursement
by
the
Company
of
the
monthly
COBRA
premium
paid
by
Executive
for
him
and
his
eligible
dependents
for
nine
(
9
)
months
or
,
if
earlier
,
until
the
date
Executive
is
no
longer
eligible
to
receive
COBRA
continuation
coverage
;
provided
,
however
,
in
the
event
the
Company
determines
that
such
provisions
would
subject
Executive
to
taxation
under
Section105
(
h
)
of
the
Internal
Revenue
Code
of
1986
,
as
amended
(
the
Code
)
,
or
otherwise
violate
any
healthcare
law
or
regulation
,
then
,
in
lieu
of
reimbursing
Executive
,
the
Company
shall
pay
to
Executive
an
amount
equal
to
the
amount
Executive
would
be
required
to
pay
for
continuation
of
group
health
coverage
for
Executive
and
his
eligible
dependents
through
an
election
under
COBRA
for
nine
(
9
)
months
,
which
amount
shall
be
paid
in
a
lump
sum
at
the
same
time
payments
under
Section5
(
e
)
(
i
)
commence
and
is
intended
to
assist
Executive
with
costs
of
health
coverage
,
which
Executive
may
(
but
is
not
required
to
)
obtain
through
an
election
to
continue
health
care
coverage
under
COBRA
;
and