Document ID: 11028

Text:
(B) if the Employee then participates in the Companys medical and/or dental plans and the Employee timely elects to continue and maintain group health plan coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 , as amended ( COBRA ), then the Company shall reimburse the Employee for the healthcare continuation payments under COBRA actually made by the Employee for the coverage period beginning on the day following the Termination Date and ending on the earlier of: (A) the three (3) month anniversary of the Termination Date; and (B) the date the Employee becomes eligible to obtain alternate healthcare coverage from a new employer (the COBRA Assistance). The Employee agrees to immediately inform the Company if he becomes eligible to obtain alternate healthcare coverage from a new employer. The Employee also agrees to remit to the Company on a monthly basis and within thirty (30) days of the date of payment, paid invoices for each such monthly COBRA premium for which he seeks reimbursement pursuant to this Section 4.1(d)(iii)(B) and such reimbursement (to the extent required pursuant to this Section 4.1(d)(iii)(B)) shall be made to the Employee within thirty (30) days following the Employees delivery to the Company of each such invoice. Notwithstanding anything set forth in this Section 4.1(d)(iii)(B), if and to the extent that the Company may not provide such COBRA Assistance without incurring tax penalties or violating any requirement of the law, the Company shall use its commercially reasonable best efforts to provide substantially similar assistance in an alternative manner provided that the cost of doing so does not exceed the cost that the Company would have incurred had the COBRA Assistance been provided in the manner described above or cause a violation of Section 409A (as defined in Section 5.16).

Named Entities:
33
39
Act
44
44
Act
60
60
Act
89
94
TerminationDate
121
121
Act
179
179
Act
189
192
Regulation
283
283
Act
335
335
Act
349
350
Regulation

Tokenized Text:
(
B
)
if
the
Employee
then
participates
in
the
Companys
medical
and
/
or
dental
plans
and
the
Employee
timely
elects
to
continue
and
maintain
group
health
plan
coverage
pursuant
to
the
Consolidated
Omnibus
Budget
Reconciliation
Act
of
1985
,
as
amended
(
COBRA
)
,
then
the
Company
shall
reimburse
the
Employee
for
the
healthcare
continuation
payments
under
COBRA
actually
made
by
the
Employee
for
the
coverage
period
beginning
on
the
day
following
the
Termination
Date
and
ending
on
the
earlier
of
:
(
A
)
the
three
(
3
)
month
anniversary
of
the
Termination
Date
;
and
(
B
)
the
date
the
Employee
becomes
eligible
to
obtain
alternate
healthcare
coverage
from
a
new
employer
(
the
COBRA
Assistance
)
.
The
Employee
agrees
to
immediately
inform
the
Company
if
he
becomes
eligible
to
obtain
alternate
healthcare
coverage
from
a
new
employer
.
The
Employee
also
agrees
to
remit
to
the
Company
on
a
monthly
basis
and
within
thirty
(
30
)
days
of
the
date
of
payment
,
paid
invoices
for
each
such
monthly
COBRA
premium
for
which
he
seeks
reimbursement
pursuant
to
this
Section
4
.
1
(
d
)
(
iii
)
(
B
)
and
such
reimbursement
(
to
the
extent
required
pursuant
to
this
Section
4
.
1
(
d
)
(
iii
)
(
B
)
)
shall
be
made
to
the
Employee
within
thirty
(
30
)
days
following
the
Employees
delivery
to
the
Company
of
each
such
invoice
.
Notwithstanding
anything
set
forth
in
this
Section
4
.
1
(
d
)
(
iii
)
(
B
)
,
if
and
to
the
extent
that
the
Company
may
not
provide
such
COBRA
Assistance
without
incurring
tax
penalties
or
violating
any
requirement
of
the
law
,
the
Company
shall
use
its
commercially
reasonable
best
efforts
to
provide
substantially
similar
assistance
in
an
alternative
manner
provided
that
the
cost
of
doing
so
does
not
exceed
the
cost
that
the
Company
would
have
incurred
had
the
COBRA
Assistance
been
provided
in
the
manner
described
above
or
cause
a
violation
of
Section
409A
(
as
defined
in
Section
5
.
16
)
.