Welfare Benefit Amount

Welfare Benefit Amount. An amount equal to the product of (1) 24 months multiplied by (2) the monthly cost of maintaining medical, dental, disability and life insurance coverages for the Executive (and the Executive's spouse and eligible dependents), in each case as in effect immediately prior to the Date of Termination (under a group health insurance plan of the Company for purposes of the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") to the extent such coverages are available via COBRA), with such... amount divided into equal monthly portions and payable in accordance with the Company's regular pay practices for 24 months from the Date of Termination; provided, however, that the Company shall have the right to cease making payments in respect of the Welfare Benefit Amount upon or at any time following the earlier of (A) the expiration of the period for which the Executive receives severance pay pursuant this Agreement or (B) the date the Executive has commenced new employment and has thereby become eligible for comparable benefits. View More