Benefit Option Plan Sample Clauses

A Benefit Option Plan clause defines the range of employee benefits that an employer offers, outlining the specific options available for selection. Typically, this clause details choices such as health insurance plans, retirement savings programs, or other perks, and may specify eligibility requirements or enrollment procedures. Its core function is to provide employees with clear information about their benefit choices, ensuring transparency and helping both parties understand the scope and limitations of available benefits.
Benefit Option Plan. (13.2). In addition to the application of section 13.2 to part-time nurses, full-time Home Care nurses maintaining participation in EH’s PTO, Holiday and EIB plans shall continue to be eligible for the Benefit Option Plan.
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Benefit Option Plan. In lieu of all benefits except for shift differential, call back pay, standby pay, and longevity increments, a full-time or part-time nurse may elect a fifteen percent (15%) wage differential. This election must occur when first eligible for benefits at hire or within ten (10) days of the signing of this Agreement, whichever is later, or annually on dates designated in advance by the Employer, providing enrollment is approved by the carrier. Nurses will be given advance notice of such dates. Thereafter, no change in benefit compensation shall be granted during the term of this Agreement. Any accrued vacation shall be paid to the nurse at the time the nurse elects the fifteen percent (15%) wage differential.
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Benefit Option Plan. In-lieu of all benefits except for shift differential, call back pay, standby pay and weekend differential, a regular non-exempt employee may elect a fifteen percent (15%) wage differential. To be eligible for this differential, an employee must provide proof of medical coverage through another group employer medical plan. This election must occur when first eligible for benefits or within ten (10) days of the signing of this Agreement, whichever is later, or annually on dates designated in advance by the Employer, providing enrollment is approved by the carrier. Employees will be given advance notice of such dates. Thereafter, no change in benefit compensation shall be granted during the term of this Agreement. Any accrued Paid Time Off shall be paid to the employee at the time the employee elects the fifteen percent (15%) wage differential.
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Related to Benefit Option Plan

  • Benefit Options Employees must elect a plan administrator and primary care clinic. Those elections will determine the Benefit Level through Advantage. Enrolled dependents must elect a primary care clinic that is available through the plan administrator chosen by the employee.

  • Share Option Plans Each share option granted by the Company under the Company’s share option plan was granted (i) in accordance with the terms of the Company’s share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such share option would be considered granted under GAAP and applicable law. No share option granted under the Company’s share option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.