Group Benefit Plans and Programs Sample Clauses
The 'Group Benefit Plans and Programs' clause defines the employer's provision of collective benefits, such as health insurance, retirement plans, or other welfare programs, to eligible employees. Typically, this clause outlines which employees qualify for participation, the types of benefits offered, and the employer's right to modify or discontinue these programs at their discretion. Its core practical function is to clarify the scope and terms of employee benefits, ensuring both parties understand what is provided and under what conditions, thereby reducing misunderstandings and potential disputes regarding benefits.
Group Benefit Plans and Programs. The Employee will be entitled to participate, in accordance with the provisions thereof, in any group health, disability and life insurance, and any bonus, pension, retirement and other employee benefit plans and programs made available by the Bank or FNB to their employees generally.
Group Benefit Plans and Programs. The Employee will be entitled to participate, in accordance with the provisions thereof, in any group health, disability and life insurance, and any bonus, pension, retirement and other employee benefit plans and programs made available by the Bank or FNB to their employees generally. Without limiting the generality of the foregoing, the Employee shall be entitled to participate, in accordance with the provisions thereof, in the Bank’s or FNB’s arrangement for performance compensation for stakeholders (or any successor plan) and the FNB United/CommunityONE Executive Short-Term Incentive Plan (hereinafter together referred to as the “Stakeholders Plan”).