Options Program Sample Clauses
The Options Program clause establishes the terms under which one party is granted the right, but not the obligation, to purchase or sell certain assets, securities, or products at predetermined conditions within a specified timeframe. Typically, this clause outlines the scope of the options available, eligibility requirements, exercise procedures, and any associated fees or limitations. Its core practical function is to provide flexibility and strategic opportunities for the option holder, while clearly defining the rights and obligations of both parties to prevent misunderstandings and disputes.
Options Program. This program allows a member to buy specifically designated OTC drugs at no cost. To participate in this program, you must agree to use the alternative OTC drug instead of the prescription drug. The OTC drug must be purchased at a network retail pharmacy. The OTC drug is subject to the benefit limits shown in the Summary of Pharmacy Benefits. A current list of the prescription drugs included in the OTC options program is available by visiting our website or calling our Customer Service Department.