THRX » Topics » 2. Group Insurance Coverage

This excerpt taken from the THRX 10-Q filed Aug 7, 2008.

2.             Group Insurance Coverage

 

If an Eligible Executive becomes entitled to a Severance Payment under this Plan, then the Corporation shall continue to provide all welfare benefits provided on the date of termination to the Eligible Executive and, if applicable, to the Eligible Executive’s dependents for the following periods:

 

·                  12 months if you were an officer of the Corporation immediately before the Change in Control

 

·                  18 months if you were a senior vice president of the Corporation immediately before the Change in Control

 

·                  24 months if you were the chief executive officer or an executive vice president of the Corporation immediately before the Change in Control

 

The Corporation’s obligation to pay premiums or make contributions shall cease when the Eligible Executive obtains new employment offering comparable welfare benefits.  All welfare benefits, other than pursuant to COBRA, shall cease on the last day of the second calendar year following the year in which the separation from service occurs. The Corporation will pay the monthly premium under COBRA for the Eligible Executive and, if applicable, his or her dependents until the earliest of (a) the end of the period of 12, 18 or 24 months (as applicable based on the formula set forth above) following the month in which the Eligible Executive’s employment terminates or (b) the expiration of the Eligible Executive’s continuation coverage under COBRA.

 

This excerpt taken from the THRX 10-K filed Mar 1, 2007.

2.             Group Insurance Coverage

If an Eligible Executive becomes entitled to a Severance Payment under this Plan, then the Corporation shall continue to provide all welfare benefits provided on the date of termination to the Eligible Executive and, if applicable, to the Eligible Executive’s dependents for the following periods:

2




·                  12 months if you were an officer of the Corporation immediately before the Change in Control

·                  18 months if you were a senior vice president of the Corporation immediately before the Change in Control

·                  24 months if you were the chief executive officer or an executive vice president of the Corporation immediately before the Change in Control

The Corporation’s obligation to pay premiums or make contributions shall cease when the Eligible Executive obtains new employment offering comparable welfare benefits.

EXCERPTS ON THIS PAGE:

10-Q
Aug 7, 2008
10-K
Mar 1, 2007
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