Benefit Adjustments Clause Samples
The Benefit Adjustments clause defines how and when the benefits provided under an agreement may be modified or recalculated. Typically, this clause outlines the circumstances—such as changes in law, regulatory requirements, or company policies—that could trigger an adjustment to the benefits received by a party, and it may specify the process for determining the new benefit amounts. Its core function is to ensure that the benefits remain fair and compliant with external changes, thereby protecting both parties from unforeseen shifts that could otherwise create inequity or legal issues.
Benefit Adjustments. Certain benefits will be adjusted when employees are away on an unpaid leave of absence (as opposed to paid sick leave, vacation, holidays, etc.) as follows:
Benefit Adjustments. Benefit payments may be increased as provided in Section 2.1.3.
Benefit Adjustments. Notwithstanding the amount of Benefits described in Section 2.l(a), Benefits shall be limited in the event that Employee would realize less income on the receipt of Benefits and other “change in control payments” (as defined in section 280G of the Code), net of taxes, after deducting the amount of excise taxes that would be imposed pursuant to section 4999 of the Code. In such an event, the Benefits payable hereunder shall be reduced so that Benefits received in combination with all other change in control payments to be received by Employee equal the maximum amount that does not result in the receipt of a “parachute payment” (as defined by section 280G(b)(2) of the Code) by Employee. This reduction shall not apply if the amount of Benefits and other change in control payments received by Employee exceed such reduced amount after deducting the excise tax that would be imposed pursuant to section 4999 of the Code.
Benefit Adjustments. Commencing on the first anniversary of the first benefit payment, and continuing on each subsequent anniversary, the Bank's Board of Trustees, in its sole and absolute discretion, may increase the benefit due hereunder; however, any increase in the such benefit due hereunder shall require the recalculation of all the amounts on Schedule A attached hereto. Such revision shall not require the consent of the Executive.
Benefit Adjustments. Notwithstanding anything to the contrary in these Rules and Regulations, the Benefits payable to an Employee of a Production or Industrial Employer shall be adjusted and paid as provided in this Article. To the extent this Article XII does not specify eligibility or other requirements, the provisions set out elsewhere in these Rules and Regulations apply. The separate schedule of benefits for Employees of Production or Industrial Employers in the SASMI Production or Industrial Rules and Regulations was terminated as of December 31, 2013 and the provisions herein shall apply thereafter.
Benefit Adjustments. Effective August 1, 2016, ODM covers SRS for individuals who are 21 years of age or older, under 150% FPL and meet specific Severe and Persistent Mental Illness (SPMI) criteria. The only population groups to be effected are the community well populations, because a Medicaid enrollee cannot be covered under a 1915(c) HCBS Waiver and also receive 1915(i) services. Also, individuals who gain eligibility under 1915(i) standards rather than traditional Medicaid eligibility will be covered under fee-for-service until January 1, 2018 which further reduces the potential impact on the 2017 MyCare capitation rates. A more detailed description of the methodology regarding the addition of SRS is outlined in Section I.2.B of this report.