Modification of Benefits. Without by implication limiting the foregoing, during the two (2) years following a Change in Control, the Executive’s compensation, including Base Salary, incentive compensation opportunity, SERP opportunity, other benefits and fringe benefits shall not be reduced. Notwithstanding the foregoing, the Company shall be entitled to modify the group health benefits provided such modifications are applicable to all similarly situated management employees. To the extent that the Company is not able to continue life, group health or similar benefits as a result of the terms of the applicable plans or insurance policies, the Company shall pay the Executive the cost, no less frequently than monthly, that the Executive must incur to obtain such benefits privately.
Modification of Benefits. Notwithstanding anything to the contrary contained herein, the Company reserves the right with respect to any benefit set forth in this Section or in Section 3(d) above to modify such benefit or not to provide such benefit. Changes in any benefit provided solely to Executive Officers of the Company shall be subject to approval of the Compensation Committee. 7.
Modification of Benefits. The Company reserves the right from time to time to alter, modify or eliminate benefits offered to it Executives under any of the Company’s policies or plans.
Modification of Benefits. 1. The details of each benefit program have been independently communicated to CUE and eligible employees.
2. The University may, at its option during the term of this Agreement, establish new coverage, alter or delete current coverage, alter employee and University rates of contribution, or change the carrier of established plans and, if the University does so, such changes will apply to employees eligible for benefits under this Agreement to the same extent as they apply to other eligible staff employees at the same campus/hospital/laboratory.
3. Specific eligibility and benefits under each of the various plans are governed entirely by the terms of the applicable Plan Documents, custodial agreement, University of California Group Insurance Regulations, group insurance contracts, and applicable state and federal laws. Employees in an ineligible classification are excluded from coverage, regardless of appointment percent and average regular paid time. Specific eligibility for each program is set forth in the applicable documents, agreements, regulations, or contracts.
Modification of Benefits. Except with respect to the Additional ------------------------ Benefits, Employer reserves the right at all times to modify, suspend or discontinue any and all Compensation Plans and any other benefits, plans, practices, policies and programs (whether before or after termination of employment) without notice to or recourse by Employee so long as such action is taken with respect to Employer' employees generally and does not single out Employee.
Modification of Benefits. If there is a need to modify benefits, coverage's and/or premiums as determined by the insurer or the AWC Benefits Trust Board or a successor provider, those modifications to benefits, coverage 's and/or premiums shall be implemented in accordance with the timeline directed by the insurer or the AWC Benefits Trust Board or a successor provider, without any negotiations.
Modification of Benefits. 1. The maximum for a health care flexible spending account is $2,500 annually.
2. The maximum for a dependent care flexible spending account is the statutory maximum allowed by law. The current maximum is $5,000 annually.
3. Faculty Members may participate in the Education Management Corporation Qualified Transportation Reimbursement Plan for a Parking Expense Account and/or a Mass Transportation/Commuting Expense Account. The maximum monthly pre-tax contribution for the Parking Expense Account is $220.00, and the maximum monthly Mass Transportation/Commuting Expense Account contribution is $115.00. These pre-tax limits are subject to change if prescribed by changes in governmental regulations.
4. Wherever a benefit provided pursuant to this Article is applicable to an Instructor’s spouse, husband or wife it shall also be applicable to an Instructor’s domestic partner, unless specifically prohibited by the terms of an insurance policy. To access such domestic partner benefits the Faculty Member will be required to execute an Affidavit of Domestic Partnership on a form provided by the Employer, which is set forth in Appendix 2.
5. The Employer shall promptly inform the Union Chapter Leader of any changes in EDMC Signature Benefits, whether they occur through amendment, interpretation or otherwise, and shall meet with the Union as soon as possible to discuss the effects of the changes. Written documentation of such changes will be provided to the Union prior to these discussions.
Modification of Benefits. Employee recognizes that it is within the ------------------------- sole discretion of Employer's Board of Directors to modify the benefits of Employer from time-to-time and agrees that no claim will arise against Employer by virtue of its Board of Directors' exercise of its rights to modify Employer's benefits package. In addition, Employee shall be entitled to five (5) weeks paid vacation time and an automobile or an automobile allowance and such benefits shall not be reduced during the term of this Agreement (including any extensions thereof).
Modification of Benefits. The Association is able to provide the benefits described in paragraphs 2, 3 and 4 and Schedule A of this Agreement in part because of currently applicable State and Federal tax statutes and regulations, particularly as they relate to the investments contemplated by the Association in support of this plan. If such statutes or regulations, or the judicial interpretations of such statutes and regulations, change such that, in the sole discretion of the Association, it is no longer beneficial to the interests of the Association to continue to plan, the Association may terminate the plan pursuant to paragraph 9 of this Agreement, or it may accelerate or postpone the payment of benefits as provided in paragraph 5 of this Agreement, or it may modify the amount of the benefits listed in Schedule A or pursuant to the provisions of paragraph 4 hereof, whether or not such benefits are already being paid (except that no benefit already paid may be recovered by reason of a reduction in benefits under this provision), but such benefits may not be reduced to an amount such that the total benefits paid to the Director or his beneficiary are less than an amount equal to the total amount deferred by the Director pursuant to paragraph 10 of this Agreement plus interest at a rate to be determined by the Association, but not less than the Association's average cost of funds, compounded annually on the unpaid balance.
Modification of Benefits. The University of Toledo reserves the right to modify or discontinue any benefit plan upon notice to the Resident.
