Document ID: 15234

Text:
(D) continuation of applicable medical, dental and life insurance benefits (based on the coverage in effect for Executive and his dependents at the time of such termination or resignation, but excluding any supplemental medical expense reimbursement insurance provided by the Company), from the date of termination or resignation until the earlier to occur of (1) one year from the date of termination or (2) the date Executive becomes eligible for comparable benefits provided by a third party (in either case, the Continuation Period); provided, however, that the continuation of such benefits shall be subject to the respective terms of the applicable plan, as in effect from time to time, if applicable the provisions under the Consolidated Omnibus Budget Reconciliation Act of 1986 , as amended (COBRA), and the timely payment by Executive of his applicable share of the applicable premiums in effect from time to time during the Continuation Period. Notwithstanding the previous sentence, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue his and his covered dependents group health coverage in effect on the Date of Termination (which amount shall be based on the premium for the first month of COBRA coverage), less the amount the Executive would have had to pay to receive group health coverage for himself and his covered dependents based on the cost sharing levels in effect on the Date of Termination, which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the later of the: (i) month in which the Date of Termination occurs; or (ii) month such determination is made, and shall end on the earlier of (x) the date upon which Executive obtains other employment or (y) the last day of the 12th calendar month following the month in which the Date of Termination occurs. To the extent that reimbursable medical and dental care expenses constitute deferred compensation for purposes of Section 409A of the Internal Revenue Code of 1986 , as amended (the Code), the Company shall reimburse the medical and dental care expenses as soon as practicable consistent with the Companys practice, but in no event later than the last day of the calendar year next following the calendar year in which such expenses are incurred.

Named Entities:
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65
TerminationDate
134
140
Act
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145
Act
204
205
Regulation
208
211
Act
234
234
Act
274
274
Act
323
323
Act
421
425
Act

Tokenized Text:
(
D
)
continuation
of
applicable
medical
,
dental
and
life
insurance
benefits
(
based
on
the
coverage
in
effect
for
Executive
and
his
dependents
at
the
time
of
such
termination
or
resignation
,
but
excluding
any
supplemental
medical
expense
reimbursement
insurance
provided
by
the
Company
)
,
from
the
date
of
termination
or
resignation
until
the
earlier
to
occur
of
(
1
)
one
year
from
the
date
of
termination
or
(
2
)
the
date
Executive
becomes
eligible
for
comparable
benefits
provided
by
a
third
party
(
in
either
case
,
the
Continuation
Period
)
;
provided
,
however
,
that
the
continuation
of
such
benefits
shall
be
subject
to
the
respective
terms
of
the
applicable
plan
,
as
in
effect
from
time
to
time
,
if
applicable
the
provisions
under
the
Consolidated
Omnibus
Budget
Reconciliation
Act
of
1986
,
as
amended
(
COBRA
)
,
and
the
timely
payment
by
Executive
of
his
applicable
share
of
the
applicable
premiums
in
effect
from
time
to
time
during
the
Continuation
Period
.
Notwithstanding
the
previous
sentence
,
if
the
Company
determines
in
its
sole
discretion
that
it
cannot
provide
the
foregoing
benefit
without
potentially
violating
applicable
law
(
including
,
without
limitation
,
Section
2716
of
the
Public
Health
Service
Act
)
,
the
Company
shall
in
lieu
thereof
provide
to
Executive
a
taxable
monthly
payment
in
an
amount
equal
to
the
monthly
COBRA
premium
that
Executive
would
be
required
to
pay
to
continue
his
and
his
covered
dependents
group
health
coverage
in
effect
on
the
Date
of
Termination
(
which
amount
shall
be
based
on
the
premium
for
the
first
month
of
COBRA
coverage
)
,
less
the
amount
the
Executive
would
have
had
to
pay
to
receive
group
health
coverage
for
himself
and
his
covered
dependents
based
on
the
cost
sharing
levels
in
effect
on
the
Date
of
Termination
,
which
payments
shall
be
made
regardless
of
whether
Executive
elects
COBRA
continuation
coverage
and
shall
commence
in
the
month
following
the
later
of
the
:
(
i
)
month
in
which
the
Date
of
Termination
occurs
;
or
(
ii
)
month
such
determination
is
made
,
and
shall
end
on
the
earlier
of
(
x
)
the
date
upon
which
Executive
obtains
other
employment
or
(
y
)
the
last
day
of
the
12th
calendar
month
following
the
month
in
which
the
Date
of
Termination
occurs
.
To
the
extent
that
reimbursable
medical
and
dental
care
expenses
constitute
deferred
compensation
for
purposes
of
Section
409A
of
the
Internal
Revenue
Code
of
1986
,
as
amended
(
the
Code
)
,
the
Company
shall
reimburse
the
medical
and
dental
care
expenses
as
soon
as
practicable
consistent
with
the
Companys
practice
,
but
in
no
event
later
than
the
last
day
of
the
calendar
year
next
following
the
calendar
year
in
which
such
expenses
are
incurred
.