Common use of COBRA Severance Clause in Contracts

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If you timely elect continued coverage under COBRA, the Company will pay on your behalf the COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on the earliest to occur of: (i) twelve (12) months following the Separation Date; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay you, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums for that month for the remainder of the COBRA Premium Period, which you may (but are not obligated to) use toward the cost of COBRA premiums.

COBRA Severance. To the extent provided by the federal COBRA law orIf you are eligible for, and timely and properly elect, continuation coverage for yourself (and, if applicablethey are covered on your Termination Date, state insurance laws, and by your eligible dependents) under the Company’s current group health insurance policies, you will be eligible plan pursuant to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider Section 4980B of the Company’s health insurance, if you wish. If you timely elect continued coverage under Code (“COBRA”), the Company will pay on your behalf reimburse you for the monthly COBRA premiums to continue your health insurance paid by you for such continuation coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium PeriodSeverance”) starting on the Separation Date and ending on until the earliest to occur of: of (i) twelve (12) months following the Separation Dateend of the Severance Period; (ii) the date you become eligible for (or any of your dependents, as applicable) is no longer entitled to receive COBRA continuation coverage under the Company’s group health insurance coverage through a new employerplan; or and (iii) the date on which you cease to be eligible for COBRA continuation obtain substantially similar coverage for any reason. In from another source; provided, however, that the event you become covered under another employer’s group health plan Company may unilaterally amend or otherwise cease to be eligible for COBRA during eliminate the COBRA Premium Periodbenefits under this Section 4(b)(ii) if and to the extent it deems reasonably necessary to avoid imposition of excise taxes, you penalties or similar charges on the Company, any of its affiliates or any of their respective successors, including without limitation under Section 4980D or 4980H of the Code. You must immediately notify the Company within two (2) weeks if you obtain substantially similar coverage from a new source. This payment of such event. Notwithstanding the foregoing, if COBRA Severance by the Company determineswould not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. COBRA Severance will be paid, less applicable tax withholding, no later than the fifteenth (15th) day of the month commencing immediately after the date you submit evidence satisfactory to the Company of your timely payment of the COBRA premium; provided, however, that the initial payment of COBRA Severance will be made on the first installment of the cash severance and will include all amounts of COBRA Severance relating to periods prior to such date. You must submit evidence of your timely payment of the COBRA premium for a month no later than the end of the following month. In lieu of reimbursing you for your COBRA premiums, the Company may, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay you, on the first day of each calendar month, a fully taxable cash payment equal such premiums directly to the applicable COBRA premiums for that month for the remainder of the COBRA Premium Period, which you may (but are not obligated to) use toward the cost of COBRA premiumsinsurance company on your behalf.

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If you timely elect continued coverage under COBRA, the Company will continue to pay on the cost of your behalf health care coverage in effect at the time of your Separation from Service for a maximum of six (6) months, either under the Company’s regular health plan (if permitted), or by paying your COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium PeriodSeverance”) starting ). The Company’s obligation to pay the COBRA Severance on the Separation Date and ending on the earliest to occur of: your behalf will cease if you obtain health care coverage from another source (i) twelve (12) months following the Separation Date; (ii) the date you become eligible for group health insurance coverage through e.g., a new employer; employer or (iii) the date you cease to be eligible for COBRA continuation coverage for any reasonspouse’s benefit plan), unless otherwise prohibited by applicable law. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you You must immediately notify the Company within two (2) weeks if you obtain coverage from a new source. This payment of such eventCOBRA Severance by the Company would not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the foregoingabove, if the Company determines, determines in its sole discretion, discretion that it cannot pay provide the foregoing COBRA Premiums Severance without a substantial risk of potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay you, to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each calendar month, a fully taxable cash payment equal to month regardless of whether you elect COBRA continuation coverage and shall end on the applicable COBRA premiums for that month for earlier of (x) the remainder date upon which you obtain other coverage or (y) the last day of the COBRA Premium Period, which you may sixth (but are not obligated to6th) use toward the cost of COBRA premiumscalendar month following your Separation from Service date.

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If you are eligible for and timely elect continued coverage under COBRA, the Company will pay on your behalf the COBRA premiums to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (including coverage “COBRA”) or the state equivalent, the Company will reimburse you for the cost of COBRA premiums for you and your eligible dependents, if applicableany, until the earlier of (A) eighteen (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on the earliest to occur of: (i) twelve (1218) months following the from Separation Date; , (iiB) the date expiration of your eligibility for the continuation coverage under COBRA, or (C) such time as you become employed by another employer or self-employed through which you are eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Periodthereafter, you must immediately notify will be responsible for the cost of all COBRA premium payments, if any). To receive this reimbursement, you will be required to remit timely payment to the Company’s COBRA provider and present proof of payment within ten (10) days, and the Company of such eventwill process the reimbursement to you in accordance with its ordinary expense reimbursement practices. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay you, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums Premiums for that month (including premiums for any dependents), subject to applicable tax withholdings (such amount the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You may, which you may (but are not obligated to) , use such Special Cash Payment toward the cost of COBRA premiumsPremiums.

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If Provided that you timely elect continued coverage under COBRA, then the Company will pay on your behalf shall reimburse you for the COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on the earliest to occur of: (i) twelve six (126) months following after the Separation Date; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage for any reason, including plan termination (the “COBRA Premium Period”). In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay you, on the first day of each calendar monthmonth for the remainder of the COBRA Premium Period, a fully taxable cash payment equal to the applicable COBRA premiums for that month for the remainder of the COBRA Premium Periodmonth, subject to applicable tax withholdings, which you may (may, but are not obligated to) , use toward the cost of COBRA premiums. You acknowledge and agree that upon receipt of the severance benefits set forth in this Section 3, you will be extinguishing any rights you may have to severance under the Offer Letter or otherwise, and that you are not entitled to, and will not receive, any further severance benefits from the Company (except as expressly provided herein).

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to As an individual policy through the provider of the Company’s health insurance, if you wish. If you timely elect continued coverage under COBRAadditional severance benefit, the Company will continue to pay on the cost of your behalf and your dependents’ health care coverage in effect at the time of your Separation from Service for a maximum of 9 months, either under the Company’s regular health plan (if permitted), or by reimbursing for or paying your and your dependents’ COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium PeriodSeverance”) starting ). The Company’s obligation to pay the COBRA Severance on the Separation Date and ending on the earliest to occur of: your behalf will cease if you obtain health care coverage from another source (i) twelve (12) months following the Separation Date; (ii) the date you become eligible for group health insurance coverage through e.g., a new employer; employer or (iii) the date you cease to be eligible for COBRA continuation coverage for any reasonspouse’s benefit plan), unless otherwise prohibited by applicable law. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you You must immediately notify the Company within two weeks if you obtain coverage from a new source. This payment of such eventCOBRA Severance by the Company would not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the foregoingabove, if the Company determines, determines in its sole discretion, discretion that it cannot pay provide the foregoing COBRA Premiums Severance without a substantial risk of potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay you, to continue your and your dependents’ group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each calendar monthmonth regardless of whether you elect COBRA continuation R▇▇▇▇▇ ▇▇▇▇▇▇▇, a fully taxable cash payment equal to M.D. January 3, 2024 coverage and shall end on the applicable COBRA premiums for that month for earlier of (x) the remainder date upon which you and your dependents obtain other coverage and (y) the last day of the COBRA Premium Period, which you may (but are not obligated to) use toward the cost of COBRA premiumsninth calendar month following your Separation from Service Date.

COBRA Severance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish. If you timely elect continued coverage under COBRA, the Company will continue to pay on the cost of your behalf health care coverage in effect at the time of your Separation from Service for a maximum of eighteen (18) months, either under the Company’s regular health plan (if permitted), or by paying your COBRA premiums to continue your health insurance coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium PeriodSeverance”) starting ). The Company’s obligation to pay the COBRA Severance on the Separation Date and ending on the earliest to occur of: your behalf will cease if you obtain health care coverage from another source (i) twelve (12) months following the Separation Date; (ii) the date you become eligible for group health insurance coverage through e.g., a new employer; employer or (iii) the date you cease to be eligible for COBRA continuation coverage for any reasonspouse’s benefit plan), unless otherwise prohibited by applicable law. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you You must immediately notify the Company within two (2) weeks if you obtain coverage from a new source. This payment of such eventCOBRA Severance by the Company would not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the foregoingabove, if the Company determines, determines in its sole discretion, discretion that it cannot pay provide the foregoing COBRA Premiums Severance without a substantial risk of potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay you, to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each calendar month, a fully taxable cash payment equal to month regardless of whether you elect COBRA continuation coverage and shall end on the applicable COBRA premiums for that month for earlier of (x) the remainder date upon which you obtain other coverage or (y) the last day of the COBRA Premium Period, which you may eighteenth (but are not obligated to18th) use toward the cost of COBRA premiumscalendar month following your Separation from Service date.