Document ID: 12002

Text:
| (c)| The Company will pay or reimburse the Executive for his premiums charged to continue medical coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act ( COBRA ), at the same or reasonably equivalent medical coverage for the Executive (and, if applicable, the Executives eligible dependents) as in effect immediately prior to the Severance Date, to the extent that the Executive elects such continued coverage; provided that the Companys obligation to make any payment or reimbursement pursuant to this clause (c) shall commence with continuation coverage for the month following the month in which the Executives Severance Date occurs and shall cease with continuation coverage for the twelfth (12th) month following the month in which the Executives Severance Date occurs (or, if earlier, shall cease upon the first to occur of the Executives death, the date the Executive becomes eligible for coverage under the health plan of a future employer, or the date the Company ceases to offer group medical coverage to its active executive employees or the Company is otherwise under no obligation to offer COBRA continuation coverage to the Executive). To the extent the Executive elects COBRA coverage, he shall notify the Company in writing of such election prior to such coverage taking effect and complete any other continuation coverage enrollment procedures the Company may then have in place. ---|---|---

Named Entities:
24
28
Act
30
30
Act
196
196
Act
210
210
Act

Tokenized Text:
|
(
c
)
|
The
Company
will
pay
or
reimburse
the
Executive
for
his
premiums
charged
to
continue
medical
coverage
pursuant
to
the
Consolidated
Omnibus
Budget
Reconciliation
Act
(
COBRA
)
,
at
the
same
or
reasonably
equivalent
medical
coverage
for
the
Executive
(
and
,
if
applicable
,
the
Executives
eligible
dependents
)
as
in
effect
immediately
prior
to
the
Severance
Date
,
to
the
extent
that
the
Executive
elects
such
continued
coverage
;
provided
that
the
Companys
obligation
to
make
any
payment
or
reimbursement
pursuant
to
this
clause
(
c
)
shall
commence
with
continuation
coverage
for
the
month
following
the
month
in
which
the
Executives
Severance
Date
occurs
and
shall
cease
with
continuation
coverage
for
the
twelfth
(
12th
)
month
following
the
month
in
which
the
Executives
Severance
Date
occurs
(
or
,
if
earlier
,
shall
cease
upon
the
first
to
occur
of
the
Executives
death
,
the
date
the
Executive
becomes
eligible
for
coverage
under
the
health
plan
of
a
future
employer
,
or
the
date
the
Company
ceases
to
offer
group
medical
coverage
to
its
active
executive
employees
or
the
Company
is
otherwise
under
no
obligation
to
offer
COBRA
continuation
coverage
to
the
Executive
)
.
To
the
extent
the
Executive
elects
COBRA
coverage
,
he
shall
notify
the
Company
in
writing
of
such
election
prior
to
such
coverage
taking
effect
and
complete
any
other
continuation
coverage
enrollment
procedures
the
Company
may
then
have
in
place
.
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