Intent of the Plan Sample Clauses

The "Intent of the Plan" clause defines the overarching purpose and objectives of the plan as set out in the agreement. It typically outlines the goals the plan aims to achieve, such as providing benefits, incentives, or guidance for participants, and may clarify the guiding principles or desired outcomes. By clearly stating the plan's intent, this clause helps ensure all parties have a shared understanding of its purpose, reducing ambiguity and supporting consistent interpretation throughout the agreement.
Intent of the Plan. The Plan is intended to meet the requirements of a cafeteria plan under Section 125 of the Internal Revenue Code of 1986, as amended (the “Code”) and is to be interpreted in a manner consistent with the requirements of applicable law. This Plan and the Benefit Plans ancillary hereto are to be treated as a single Plan.
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Intent of the Plan. The Plan is intended to meet the requirements of a dependent care assistance flexible spending account plan under Sections 125 and 129 of the Internal Revenue Code of 1986, as amended (the “Code”) and is to be interpreted in a manner consistent with the requirements of those laws.
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Intent of the Plan. The Plan is intended to meet the requirements of a health care flexible spending account plan under Sections 125, 105 and 223 of the Internal Revenue Code of 1986, as amended (the “Code”) and ERISA (to the extent ERISA applies to this Plan) and is to be interpreted in a manner consistent with applicable laws. The Plan permits both general purpose Benefit elections and limited purpose Benefit elections (by Participants who participate in a Health Savings Account).
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Intent of the Plan 
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Related to Intent of the Plan

  • Intent of the Parties Except as provided in the next sentence, the sole procedure to resolve any claim arising out of or relating to this Agreement or any related agreement is the dispute resolution procedure set forth in this Article Eighteen. Either Party may seek a preliminary injunction or other provisional judicial remedy if such action is necessary to prevent irreparable harm or preserve the status quo, in which case both Parties nonetheless will continue to pursue resolution of the dispute by means of this procedure.

  • Termination of the Plan Any other provi- sion of this plan to the contrary notwith- standing, no benefit will be paid for charges incurred by a participant or former par- ticipant after the termination of this plan.

  • Effect of the Plan This Award is subject to all of the provisions of the Plan and this Agreement, together with all of the rules and determinations from time to time issued by the Committee and/or the Board pursuant to the Plan, including the restrictions in the Plan on the transferability of awards. In the event of a conflict between any provision of the Plan and this Agreement, the provisions of this Agreement shall control but only to the extent such conflict is permitted under the Plan. By accepting this Award, the Participant acknowledges that he or she has received a copy of the Plan and agrees that the Participant will enter into such written representations, warranties and agreements and execute such documents as the Company may reasonably request in order to comply with applicable securities and other applicable laws, rules or regulations, or with this document or the terms of the Plan.

  • Term of the Plan The Plan, as set forth herein, shall come into existence on the date of its adoption by the Board of Directors; provided, however, that no Award may be granted hereunder prior to the Effective Date. The Board of Directors may suspend or terminate the Plan at any time. No ISOs may be granted after the tenth anniversary of the earlier of (i) the date the Plan is adopted by the Board of Directors, or (ii) the date the Plan is approved the stockholders of the Company.

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.