Document ID: 11681

Text:
(b) Continuation of Medical Insurance. Upon a timely election of the continuation coverage under COBRA , by Executive or, in the case of a termination due to his death, by his dependents who were covered dependents under the Companys group health insurance plan or program, the Company will pay one hundred percent (100%) of Executives COBRA premiums for the continuation of medical insurance coverage under the Companys group health insurance plan as in effect on the day immediately preceding the effective date of such termination without Cause or for Good Reason for the Insurance Continuation Period (the Medical Insurance Continuation Benefit). For purposes of this Section5.4(b), the term Insurance Continuation Period shall mean (i) the Salary Continuation Period (as defined above) or (ii) the period ending on the date on which Executive obtains employment with another employer that makes group health insurance available to him and his dependents, whichever is shorter. Each premium payment shall be paid when due and shall be considered a separate payment for purposes of Section 409A of the Code.

Named Entities:
17
17
Act
59
60
Percentage
64
64
Act

Tokenized Text:
(
b
)
Continuation
of
Medical
Insurance
.
Upon
a
timely
election
of
the
continuation
coverage
under
COBRA
,
by
Executive
or
,
in
the
case
of
a
termination
due
to
his
death
,
by
his
dependents
who
were
covered
dependents
under
the
Companys
group
health
insurance
plan
or
program
,
the
Company
will
pay
one
hundred
percent
(
100
%
)
of
Executives
COBRA
premiums
for
the
continuation
of
medical
insurance
coverage
under
the
Companys
group
health
insurance
plan
as
in
effect
on
the
day
immediately
preceding
the
effective
date
of
such
termination
without
Cause
or
for
Good
Reason
for
the
Insurance
Continuation
Period
(
the
Medical
Insurance
Continuation
Benefit
)
.
For
purposes
of
this
Section5
.
4
(
b
)
,
the
term
Insurance
Continuation
Period
shall
mean
(
i
)
the
Salary
Continuation
Period
(
as
defined
above
)
or
(
ii
)
the
period
ending
on
the
date
on
which
Executive
obtains
employment
with
another
employer
that
makes
group
health
insurance
available
to
him
and
his
dependents
,
whichever
is
shorter
.
Each
premium
payment
shall
be
paid
when
due
and
shall
be
considered
a
separate
payment
for
purposes
of
Section
409A
of
the
Code
.