Document ID: 14577

Text:
(e) subject to Executives timely election of continuation coverage under Part 6 of Title I of the Employee Retirement Income Security Act of 1974 , as amended, and Section4980B of the Internal Revenue Code of 1986, as amended (COBRA), the Company shall pay to Executive each month an after-tax amount equal to the monthly amount of the COBRA continuation coverage premium under the Companys group medical plans as in effect from time to time, less the amount of Executives portion of the premium as if Executive were an active employee until the earliest of: (i)twelve (12)months after the date of Executives termination of employment; (ii)the date Executive is no longer eligible for benefits under COBRA; or (iii)the date Executive obtains other employment that offers medical benefits, provided that the first payment of any amount described in this Section6.1(e) shall be paid following Executives termination of employment as described in Section6.5 or Section12.7 and shall include any amounts due prior thereto.

Named Entities:
19
25
Act
34
38
Act
43
43
Act
64
64
Act
133
133
Act

Tokenized Text:
(
e
)
subject
to
Executives
timely
election
of
continuation
coverage
under
Part
6
of
Title
I
of
the
Employee
Retirement
Income
Security
Act
of
1974
,
as
amended
,
and
Section4980B
of
the
Internal
Revenue
Code
of
1986
,
as
amended
(
COBRA
)
,
the
Company
shall
pay
to
Executive
each
month
an
after-tax
amount
equal
to
the
monthly
amount
of
the
COBRA
continuation
coverage
premium
under
the
Companys
group
medical
plans
as
in
effect
from
time
to
time
,
less
the
amount
of
Executives
portion
of
the
premium
as
if
Executive
were
an
active
employee
until
the
earliest
of
:
(
i
)
twelve
(
12
)
months
after
the
date
of
Executives
termination
of
employment
;
(
ii
)
the
date
Executive
is
no
longer
eligible
for
benefits
under
COBRA
;
or
(
iii
)
the
date
Executive
obtains
other
employment
that
offers
medical
benefits
,
provided
that
the
first
payment
of
any
amount
described
in
this
Section6
.
1
(
e
)
shall
be
paid
following
Executives
termination
of
employment
as
described
in
Section6
.
5
or
Section12
.
7
and
shall
include
any
amounts
due
prior
thereto
.