Optional Plan Sample Clauses

The optional-plan clause allows parties to choose whether to participate in a specific plan or program offered under the agreement. In practice, this means that a party is not automatically enrolled or obligated to join the plan; instead, they must actively opt in if they wish to take advantage of its benefits or services. This clause provides flexibility and autonomy, ensuring that participation is voluntary and tailored to each party's needs, thereby preventing unwanted obligations or costs.
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Optional Plan. Each employee may apply for an additional one hundred thousand dollars ($100,000) Group Life and one hundred thousand dollars ($100,000) Accidental Death and Dismemberment Insurance. This insurance requires medical evidence of insurability from each applicant and coverage will become effective only with the written approval of the insurer. No employee shall have present benefits reduced by a change in carrier.
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Optional Plan. Each employee may apply for up to an additional $300,000.00 Group Life and $300,000.00 Accidental Death and Dismemberment Insurance. The Optional Group Life insurance requires medical evidence of insurability from each applicant and coverage will become effective only with the written approval of the insurer. No employee shall have their present benefits reduced by a change in carrier.
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Optional Plan. Lump sum payment of 75% of accrued sick leave with a maximum of $l8,000.00.
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Optional Plan. The Optional Plan is a defined contribution plan and is intended to meet the qualification requirements of Section 401(a) of the Internal Revenue Code of 1986. The University will make contributions each year to your account in the Optional Plan. You will have the ability to direct the investment of your account among the Optional Plan’s selected investment options. The benefits to be provided through the Optional Plan are not the obligations of the State of Oklahoma but are the obligation of the University. The only benefit to be provided under the Optional Plan is the vested portion of contributions (and investment earnings thereon) made to the Plan by the University. All contributions by the University are fully vested after three consecutive years of service in the plan.
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Optional Plan. A. An additional $10,000 life with AD & D.
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Optional Plan. Each employee may elect to take optional Group Life Insurance and/or optional Accidental Death & Dismemberment Insurance, at their own cost, in multiples of ten thousand dollars ($10,000) to a maximum of two hundred and fifty thousand dollars ($250,000.00). The optional group life insurance requires medical evidence of insurability from each applicant and coverage will become effective only with the written approval of the insurer. No employee shall have their present benefits reduced by a change in carrier. The cost of the basic plan shall be paid one hundred percent (100%) by the employer. The cost of the optional plan shall be paid one hundred percent (100%) by the employee through payroll deductions.
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Related to Optional Plan

  • Meal Plan 18. Residents are required to purchase a meal plan for both semesters. Refer to ▇▇▇.▇▇▇▇▇▇▇▇.▇▇/▇▇▇▇ for details on meal plan rates. Residents may contract for a meal plan of a higher value than stipulated in the fee schedule. 19. The meal plan may only be used to purchase food and beverages at Food Service outlets designated by the University. Meal plans cannot be used to purchase alcohol or gift certificates from any of our Off Campus Partners or to pay any other fees owed to the University of Windsor. 20. Selling of unused meal plan money is not permitted. 21. The University accepts no liability for lost, misplaced or stolen student cards and reserves the right to confiscate without recourse, any student card which bears evidence of alterations. 22. Any unused balance remaining in the meal plan accounts of the Resident on the termination date of this Agreement, will be subject to the University of Windsor Meal Plan Carry-Forward Policy. 23. Residents may add money to their meal plan at the Food Services office, J01 in Vanier Hall or the UwinCard Office in the CAW Student Centre (lower level). 24. The meal plan account is HST exempt on most purchases made at Food Service outlets on campus, except on taxable items at the Bru in Alumni Hall or with our Off Campus Partners. This is a current meal plan tax policy and is subject to change in accordance with provincial or federal legislation. 25. Meal plan fees or hours of operation are subject to change as deemed necessary or when due to circumstances beyond Food Services' control. The University reserves the right to increase or otherwise change the prices of items available for purchase in its Food Service outlets. Residents will be given reasonable notice of changes to the plan and such changes will be made fairly and in due consultation with student representatives.

  • 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.

  • Option Plan This Option is subject to certain additional terms and ----------- conditions set forth in the Plan pursuant to which this Option has been issued. Optionee acknowledges receipt of a copy of the Plan on file with the Secretary of the Company and, by acceptance hereof, agrees to and accepts this Option subject to the terms of the Plan. Except as otherwise defined herein, defined terms used in this Agreement shall have the meaning ascribed thereto in the Plan.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Stock Incentive Plan Executive shall be eligible for awards under the Employer’s Stock Incentive Plan. The type, timing and size of awards will be at the discretion of the Board of Directors.