Incentive to Opt Out. The Employer shall pay employees an incentive of $3,000 ($1,500 for part-time employees) per year for those employees who opt out of the Employer’s medical/dental/vision program. An employee must work at least through the 15th of a month to receive a month’s credit. The incentive shall be accrued on a calendar year basis and paid no later than February 28 following the end of the calendar year in which the incentive was earned. Employees who choose to opt out must sign a waiver during the open enrollment period, unless there is a family qualifying event for coverage under COBRA. The incentive is not available to spouses of the Employer’s employees when both spouses are employees of the Employer.
Appears in 9 contracts
Samples: Settlement Agreement, Settlement Agreement, Settlement Agreement
