Plan Purpose Clause Samples
The Plan Purpose clause defines the main objective and intended use of a specific plan, such as an employee benefit or retirement plan. It typically outlines what the plan is designed to achieve, who it covers, and the types of benefits or services it provides. For example, it may state that the plan exists to provide health coverage to eligible employees and their dependents. This clause ensures all parties understand the scope and intent of the plan, helping to prevent misunderstandings and disputes about what the plan is meant to accomplish.
Plan Purpose. The Company, by means of the Plan, seeks to secure and retain the services of Employees, Directors and Consultants, to provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and to provide a means by which such persons may be given an opportunity to benefit from increases in value of the Common Stock through the granting of Awards.
Plan Purpose. The Corporate Profit Sharing Plan ("CPS") is designed to encourage and reward employees for their contribution to Company profits.
Plan Purpose. To optimize the Bank’s performance in accomplishing Board-approved goals.
Plan Purpose i. Measurably improve Latinx outcomes related to the reduction of stigma related to behavioral health.
ii. Develop leadership skills of members in the LC.
iii. Identify new strategies to improve Latinx mental wellness in San Mateo County.
Plan Purpose. The Plan has been established by the Adopting Employer and its Affiliates for the exclusive benefit of their Employees.
Plan Purpose. The Corporate Incentive Program (“CIP”) is designed to encourage and reward employees for their contribution to Company success.
Plan Purpose. The purpose of the Plan is to provide benefits to Qualified Employees whose employment is terminated in connection with a Change in Control.
Plan Purpose. This management recognition plan (the "Plan") and its related trust (the "Trust") is adopted by Mercer Ins▇▇▇▇▇▇ Group, Inc. (the "Company"). The purpose of the Plan is to retain employees of the Company with experience and ability in key positions by providing them with a proprietary interest in the Company through grants of shares of the common stock, no par value (the "Common stock"), of the Company. Awards of Common Stock will be made in recognition of service to the Company and its subsidiaries as encouragement to continue such contributions in the future, as well as to more closely align the interests of the Company's directors and officers with those of the Company's shareholders by causing all to directly benefit from increases in shareholder value.
Plan Purpose. This management recognition plan (the "Plan") is adopted by Old Guard Group, Inc. (the "Company"). The purpose of the Plan is to retain employees of the Company with experience and ability in key positions by providing them with a proprietary interest in the Company through grants of shares of common stock, no par value (the "Common stock"), of the Company. Awards of Common Stock will be made in recognition of service to the Company and its subsidiaries and affiliates and as encouragement to continue such contributions in the future.
Plan Purpose. The purpose of the Plan is to provide a measure of economic security to each eligible Employee by accumulating contributions for distribution upon retirement, as a supplement to other resources then available.