Examples of Consolidated Omnibus Budget Reconciliation Act in a sentence
If you are subject to an Involuntary Termination and you elect to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following your Separation, then the Company will pay your full monthly premium under COBRA for the 12 months following your Separation (12 months if the Involuntary Termination is in connection with a Change in Control).
If Employee wishes to continue healthcare insurance benefits coverage beyond such date at his own expense, Employee must timely elect such coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).
Following the Initial Transition Date, Executive shall have the option to continue medical, dental and/or vision insurance coverage under the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).
If Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of Executive for Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for Executive’s eligible dependents, for nine (9) months following the last date on which Executive was eligible for such coverage as an active employee of the Company.
In lieu of providing Executive with any premiums or insurance coverage under any continued healthcare benefits, including the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or applicable state law, or other similar benefits, Company will pay Executive, no later than ten (10) business days following the expiration of the Revocation Period, the lump sum amount of Fifty-Seven Thousand dollars ($57,000), approximating the value of such coverage for a 12-month period (the “Healthcare Consideration”).
In the event Executive elects to continue Company group medical, dental and/or vision benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), following termination, the Company will continue to contribute toward the cost of such coverage for up to eighteen (18) months as if Executive were an active employee unless doing so violates applicable law or is inconsistent with the coverage arrangement.
Pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), Employer will provide Executive with written notice of the right to elect to continue health coverage, effective on the first day after the Separation Date.
The Company shall pay the premium payments for COBRA coverage in an amount equal to the Company-paid portion for such benefits as of immediately prior to the Separation Date for a period of up to the first twelve (12) full calendar months following the Separation Date, provided Employee timely elects and pays the employee’s portion for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.
No Employee Benefit Plan provides or promises, or at any time provided or promised, retiree health, life insurance, or other retiree welfare benefits except as may be required by the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or similar state law.
If Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of Executive for Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for Executive’s eligible dependents, for twelve (12) months following the last date on which Executive was eligible for such coverage as an active employee of the Company.