Flexible Spending Account Plan. Paragraph 1: The Board shall provide a Flexible Spending Account Plan estab- lished pursuant to Section 125 of the Internal Revenue Code which will allow voluntary payroll deduction. The substance and procedures of the Plan, and any changes thereto, are in each instance to be determined by the Board after consul- tation with the UTW. The Plan shall include only dependent care assistance and non-reimbursed medical expenses. Health insurance premiums will be deducted from wages on a pre-tax basis through the use of a Section 125 Cafeteria Plan.
Flexible Spending Account Plan. A. All full-time and part-time employees in Union represented classifications shall be eligible to participate in the Flexible Spending Account Plan. Said plan shall be administered in compliance with Section 125 of the Internal Revenue Code (IRC). The Flexible Spending Account Plan will include salary reduction options for the following:
1. Pre-Tax Health Insurance Premium(s) for employees and their dependents;
2. Pre-Tax Health Care Spending Account;
3. Pre-Tax Dependent Care Spending Account;
4. Pre-Tax Life Insurance Premium (for amounts up to $50,000);
5. Pre-Tax Personal Accident Insurance
6. Pre-Tax Catastrophic Care Programs. These options are described in detail in the Flexible Spending Plan legal document which is available to all employee organizations. Compensation received in accordance with Article 13 (Cafeteria Dollars) may be used by employees to fund the options described above. All salary reduction amounts are included in base salaries for the purpose of computing retirement earnings and are subject to appropriate Internal Revenue Service regulations. The APCD shall meet and confer with the Union prior to revising the benefit options unless mandatory by law to change benefit options.
B. Benefits selected under this Plan cannot be changed during the plan year except for a change in family status consistent with the benefit change. Enrollment in the Plan shall be offered on an annual basis at the beginning of the Plan year. New employees may enroll within the first thirty (30) days of employment. Continued operation of the program shall be subject to APCD administrative procedures and the IRC.
Flexible Spending Account Plan. The District will offer a flexible spending, dependent care/excess medical cost reimbursement account plan under Section 125 of the Internal Revenue Code (IRC). (A Flexible Spending Account (FSA) allows unit members to designate a certain amount of taxable income on a pre-tax basis to pay for out-of-pocket medical and dependent care expenses.)
Flexible Spending Account Plan. The Board will make available for the duration of the Agreement the opportunity for employees, who are eligible for health insurance, to participate in a Flexible Spending Account Plan. Employees enrolled in this Plan will be allowed to contribute up to $2,500.00 for the payment of non-covered medical expenses and $5,000.00 for dependent care costs on a pre-tax basis.
Flexible Spending Account Plan. A. All full-time and part-time employees in Association represented classifications shall be eligible to participate in the County sponsored Flexible Spending Account Plan. The Flexible Spending Account Plan will include the following salary reduction options:
1. Pre-Tax Health Insurance Premium Option - for employees and their dependents;
2. Pre-Tax Health Care Spending Account Option;
3. Pre-Tax Dependent Care Spending Account Option;
4. Pre-Tax Life Insurance Premium Option;
5. Pre-Tax Personal Accident Insurance Program. The options are described in detail in the Flexible Spending Plan brochure and in the Legal Plan Document which is available to all employee organizations. All salary reduction amounts are included in base salaries for the purpose of computing retirement earnings and are subject to appropriate Internal Revenue Service regulations. The County shall meet and confer with the Association prior to revising the benefit options. The County agrees not to implement plan revisions unless a majority of recognized employee organizations agree to the proposed changes.
B. Benefits selected under this plan cannot be changed during the plan year except for a change in family status consistent with the benefit change. Enrollment in the plan shall be offered on an annual basis at the beginning of the plan year. New employees may enroll within the first thirty (30) days of employment. Continued operation of the program shall be subject to County administrative procedures.
Flexible Spending Account Plan. Effective as of the Closing Date, Purchaser (or one of its Affiliates) shall establish a Section 125 of the Code flexible spending account plan and related account for each Purchaser Employee (the “Purchaser FSAP”) for the then remaining portion of the calendar year in which the Closing occurs. The Purchaser FSAP will recognize the elections that each Purchaser Employee had in effect under Section 125 of the Code flexible spending account plan of Seller or one of its Subsidiaries or Affiliates (the “Seller FSAP”), subject to the applicable dollar limits of the Purchaser FSAP for the calendar year in which such Purchaser Employee becomes covered under the Purchaser FSAP. Purchaser (or one of its Affiliates) shall cause the Purchaser FSAP to assume the account balances (whether positive or negative) associated with the Purchaser Employees’ flexible spending accounts under the Seller FSAP (the “Transferred Account Balances”), and the Purchaser FSAP shall be responsible for reimbursement of all previously unreimbursed medical and dependent care claims incurred by the Purchaser Employees in such calendar year. As soon as practicable after the Closing Date, and in any event within ten (10) Business Days after the amount of the Transferred Account Balances is determined, as part of Purchaser’s assumption of the Purchaser Employees’ flexible spending account balances under the Seller FSAP, Seller (or one of its Affiliates) shall pay Purchaser (or one of its Affiliates) the net aggregate amount of the Transferred Account Balances, if such amount is positive, and Purchaser (or one of its Affiliates) shall pay Seller (or one of its Affiliates) the net aggregate amount of the Transferred Account Balances, if such amount is negative.
Flexible Spending Account Plan. Buyer or its Affiliates shall continue to employ all Hired Employees for at least six (6) months after the Date of Closing ("Employment Period"), and for Bonus Employees, through the 2003 calendar year ("Bonus Period"), provided that Buyer or its Affiliates shall be entitled to terminate the employment of any such Hired Employee (including a Bonus Employee) for cause as determined in accordance with Buyer's policies and any applicable state or federal law in the reasonable discretion of Buyer or its Affiliates. With respect to any Bonus Employees, Seller shall pay or credit to Buyer at Closing an amount equal to the average annual bonus paid to each of such employees for calendar years 2000 through 2002 as shown on the schedule initialed by the parties (the "Average Bonus") multiplied by one-third, and unless such Bonus Employee is terminated for cause, Buyer shall, with respect to any such employee who meets his or her performance goals, targets and objectives for 2003 established by Seller and approved by Buyer (which approval shall not be withheld except in extraordinary circumstances), pay to such employees, in the first quarter of 2004, a bonus at least equal to the Average Bonus for such employees. As of January 1, 2004, Buyer and its Affiliates may in their sole discretion establish bonus objectives and potentials for the Bonus Employees in accordance with Buyer's policies. If Buyer or its Affiliates terminate the employment of a Hired Employee other than for cause before the end of the Employment Period, or terminates the employment of a Bonus Employee other than for cause before the end of the Bonus Period, Buyer shall be obligated to indemnify Seller and its Affiliates from and against any Claim by such Hired Employee (i) for severance pay in the amount shown on Schedule 6.1 and (ii) as to Bonus Employees, also for the amount of such Employee's Average Bonus, together with Seller's costs of defense, including attorney's fees incurred in defending against any such claim.
Flexible Spending Account Plan. Until the Distribution Date, Roxio shall continue to be a Participating Company in the health care spending account and dependent care spending account (the "Adaptec Flexible Spending Accounts") of the Adaptec 125 Plan. Effective as of the Distribution Date, Roxio shall cause to be implemented and shall sponsor a Roxio health care spending account and dependent care spending account (the "Roxio Flexible Spending Accounts") for the benefit of Roxio Employees that is substantially similar to that of the Adaptec Flexible Spending Accounts.
Flexible Spending Account Plan. The Board will make available for the duration of the Agreement the opportunity for employees, who are eligible for health insurance, to participate in a Flexible Spending Account Plan. Employees enrolled in this Plan will be allowed to contribute up to the maximum allowable by law for the payment of non-covered medical expenses and the maximum allowable by law for dependent care costs on a pre-tax basis.
Flexible Spending Account Plan. Frontier Communications (“the Company”) agrees to continue the Flexible Spending Account (“FSA”).
