AMOUNTS OF BENEFITS. 4.01 A participant may elect out of participation in the employer's medical insurance program and receive instead a payment of an amount per month negotiated. This benefit shall be paid from the general assets of the Employer. This benefit shall be payable only for those months in which the Participant would otherwise be eligible for 100% of the Employer-paid medical premium amount in the Employer's medical insurance program (solely on the basis of eligibility determined with respect to regularly scheduled hours of work under Article 17., B., 6.). The terms and conditions of the Medical Insurance Waiver Allowance Election Form are incorporated herein by reference.
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