Option No. 1 to Choose $1,000 in Cash in Exchange for Waiver of Medical Insurance with Proof of Alternative Qualifying Medical Coverage This option is an eligible opt-out arrangement under City’s FBP. It is the only means for an eligible employee to have $1,000 in taxable cash paid out to them in increments over 24 pay periods of the fiscal year so long as they remain employed and eligible. However, an employee who chooses this option is also forfeiting the opportunity to have thousands of additional Flex Credits available for other qualifying benefit opportunities under the FBP. During open enrollment, this eligible opt-out arrangement allows an eligible employee to decline medical benefits coverage under the FBP for the upcoming Plan Year and instead receive a $1,000 cash payment. An eligible employee can waive coverage without restriction, but to receive the $1,000 cash payment, the eligible employee must provide during open enrollment reasonable evidence of enrollment in "minimum essential coverage" under another employer-sponsored group medical plan (a spouse’s plan, for example), or under a qualifying government program, which covers the employee and their tax dependents for the upcoming Plan Year. Individual coverage, including insurance purchased through the Affordable Care Act (ACA) Exchange, will not qualify as minimum essential coverage under the eligible opt-out arrangement. If an eligible employee selects the Waiver and certifies that they have and will maintain qualifying coverage for themselves and their tax dependents during the Plan Year, the City will pay the $1,000 “waiver” cash over 24 pay periods if the employee remains employed and eligible. However, the employee’s failure to have or maintain this minimum essential coverage outside the FBP will disqualify the employee from eligibility in City’s opt-out arrangement and no cash payments will be made or continue to be made. To elect and enroll in this opt-out arrangement, an eligible employee must complete and execute an online Election Form and file the completed form -- together with the employee's certification that they and their tax dependents have (or will have) other minimum essential coverage (other than individual coverage) during the Plan Year -- with the City’s Risk Management Department during open enrollment before the Plan Year begins for which the opt-out election is to be effective. Once made, an employee’s election to participate in this opt-out arrangement is irrevocable until the...
Option No. 324229 Initial Term: 60 months Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). The terms of the Agreement will continue to apply during any service-specific commitments that extend beyond the Term. Annual Volume Commitment (“AVC”): $0.00 in Total Service Charges (“AVC”) during each contract year of the Term.
Option No. 52660501
Option No. 1: All necessary expenditures for the drilling, Deepening or Sidetracking, testing, Completing, and equipping of the well, including necessary tankage and/or surface facilities.
Option No. 1: So long as any of the Oil and Gas Leases subject to this agreement remain or are continued in force as to any part of the Contract Area, whether by production, extension, renewal or otherwise.
Option No. 2: All necessary expenditures for the drilling, Deepening or Sidetracking, and testing of the well. When the well has reached its authorized depth, and all logs, cores, and other tests have been completed, and the results furnished to the parties, Operator shall give immediate notice to the Non-Operators having the right to participate in a Completion attempt whether or not Operator recommends attempting to Complete the well, together with Operator’s AFE for Completion costs if not previously provided. The parties receiving the notice shall have forty-eight (48) hours (exclusive of Saturday, Sunday, and legal holidays) in which to elect, by delivery of notice to Operator, to participate in a recommended Completion attempt or to make a Completion proposal with an accompanying AFE. Operator shall deliver any completion proposal, or any Completion proposal conflicting with Operator’s proposal, to the other parties entitled to participate in the Completion in accordance with the procedures specified in Article VI.B.6. Election to participate in a Completion attempt shall include consent to all necessary expenditures for the Completing and equipping of the well, including necessary tankage and/or surface facilities but excluding any stimulation operation not contained on the Completion AFE. Failure of any party receiving a notice to reply within the specified period shall constitute an election by that party not to participate in the cost of the Completion attempt; provided, that Article VI.B.6. shall control in the case of conflicting Completion proposals. If one or more, but less than all of the parties, elect to attempt a Completion, the provisions of Article VI.B.2. (the phrase “Reworking, Sidetracking, Deepening, Recompleting or Plugging Back” as contained in Article VI.B.2. shall be deemed to include “Completing”) shall apply to the operations then conducted by less than all parties; provided, however, that Article VI.B.2 shall apply separately to each separate Completion or Recompletion attempt undertaken, and an election to become a Non-Consenting Party as to one Completion or Recompletion attempt shall not prevent a party from becoming a Consenting Party in subsequent Completion or Recompletion attempts regardless whether the Consenting Parties as to earlier Completions or Recompletions have recouped their costs pursuant to Article VI.B.2.; provided further, that any recoupment of costs by a Consenting Party shall be made solely from the production att...
Option No. 2: The Employer shall provide the Employee with a single room plus a daily meal allowance of sixty-five dollars ($65.00). For camp jobs where meal service is in place, there shall be no allowance. The amount of the daily lump sum living-out allowance and daily meal allowance shall be as mutually agreed by the Union and the Employer on a “project-by- project” basis. Notwithstanding the foregoing, the industrial standard shall apply in the event that mutual agreement cannot be reached. Notwithstanding the above, nothing in this Agreement prevents the Employer and the Union, by mutual agreement, from altering any of the above. Preferably this will be done prior to commencement of the project at the pre-job conference.
Option No. 2. Under Option No. 2, Minnesota Power's entitlement to Net Capability shall decrease by 5.2083% of the Net Capability. Minnesota Power's entitlement to energy associated with its entitlement to Net Capability shall decrease by a corresponding amount. Minnesota Power's entitlement to such Net Capability and associated energy under this Option No. 2 shall decrease as of the later of January 1, 2007, or the date that is one (1) year after the Option No. 1 Exercise Date, upon receipt of notice from Minnkota of its exercise of such Option. If Minnesota Power's entitlement decreases as a result of the exercise by Minnkota of Option No. 2, the date of such decrease shall be the "Option No. 2 Exercise Date."
Option No. 1: The Employer shall provide the Employee with a daily lump sum Living-Out Allowance (LOA) of one hundred and twenty-five dollars ($125.00).
