Common use of Cash in Lieu Clause in Contracts

Cash in Lieu. Employees enrolled in Package C will receive a payment of Twelve Hundred ($1,200.00) Dollars at the end of the fiscal year (prorated if they are employed for less than a full year or if they are only eligible for partial coverage for only part of the year) in lieu of any other benefits under Package A or B. The amount of the life insurance premium will be deducted from the aforementioned amount.

Cash in Lieu. Employees enrolled in Package C will receive a payment of Twelve Hundred twelve hundred ($1,200.001,200) Dollars at the end of the fiscal year (prorated if they are employed for less than a full year or if they are only eligible for partial coverage for only part of the year) in lieu of any other benefits under Package A or B. The amount less the cost of the life insurance premium will be deducted from the aforementioned amountpremium.