Elective Benefits Clause Samples

The Elective Benefits clause defines the optional benefits that a party, typically an employee or insured individual, can choose to add to their standard coverage or compensation package. This clause outlines the specific benefits available for selection, such as additional insurance coverage, wellness programs, or retirement plan enhancements, and may detail the process for electing these options, including any associated costs or eligibility requirements. Its core practical function is to provide flexibility and customization, allowing individuals to tailor their benefits to better suit their personal needs and circumstances.
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Elective Benefits. ‌ Article 23: Compensation‌‌‌
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Elective Benefits. Association Members are entitled to College-wide elective benefits, with additional cost paid by the Association Member.
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Elective Benefits. Faculty are entitled to collegewide elective benefits, with additional cost paid by the employee.
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Elective Benefits. Employees who meet the minimum FTE eligibility criteria for participation established in the annual contracts with the insurance carriers may elect to take medical insurance coverage. For those employees who elect medical insurance coverage, the District shall next apply the remaining Allocation to pay the premiums or appropriate pro-rata portion of the premiums, less the employee minimum contribution specified in D.1.a below.
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Related to Elective Benefits

  • Leave Benefits Paid leave is available to the Superintendent when the following specific conditions are met: (1) the Superintendent is currently employed by the District and (2) the paid leave day is taken on a day Superintendent would otherwise be expected to be at work.

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Plan Benefits Each year, prior to the annual enrollment period, EMPLOYEES will receive Enrollment information that will outline the benefits offered next calendar year. Information relative to specific health insurance benefits and limitations will be updated regularly and contained in the SPD. In the event there is a conflict between the provisions of the collective bargaining agreement and the SPD, the District's SPD shall control.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.