Other Benefit Plans and Programs Clause Samples
The "Other Benefit Plans and Programs" clause defines the employer's obligation to provide employees with access to additional benefits beyond standard compensation, such as health insurance, retirement plans, or wellness programs. This clause typically outlines which specific benefits are available, eligibility requirements, and the employer's right to modify or discontinue these programs at their discretion. Its core function is to clarify the scope and limitations of non-salary benefits, ensuring both parties understand what supplemental benefits are offered and under what conditions they may change.
Other Benefit Plans and Programs. In addition to the Base Salary and other compensation provided for in Section 3 and Section 4 above, the Executive shall be eligible to participate in such health and welfare benefit plans (including Executive’s eligible dependents) and any qualified and/or non-qualified retirement plans of DeVry as may be in effect from time to time; provided, however, that participation shall be subject to all of the terms and conditions of such plans, including, without limitation, all waiting periods, eligibility requirements, vesting, contributions, exclusions and other similar conditions or limitations. Any and all benefits under any such plans shall also be payable, if applicable, in accordance with the underlying terms and conditions of such plan document. Executive’s participation in the foregoing plans and any perquisite programs will be on terms no less favorable than afforded to executives at the Executive’s level, as in effect from time to time. DeVry, however, shall have the right in its sole discretion to modify, amend or terminate such benefit plans and/or perquisite programs at any time. DeVry will reimburse the Executive for all reasonable business expenses incurred by Executive in the course of performing Executive’s duties and responsibilities under this Agreement which are consistent with DeVry’s policies and procedures in effect from time to time.
Other Benefit Plans and Programs. Employee shall also be entitled to participate in the Standex Management Stock Purchase Program, the Standex Retirement Savings Plan and such other incentive, welfare and defined contribution retirement benefit plans as are made available, from time to time to senior divisional management employees of the Employer.
Other Benefit Plans and Programs. In addition to the Base Salary and other compensation provided for in Section 3 above, the Executive shall be eligible to participate in such health and welfare benefit plans (including Executive’s eligible dependents) and any qualified and/or non-qualified retirement plans of the Company as may be in effect from time to time; provided, however, that participation shall be subject to all of the terms and conditions of such plans, including, without limitation, all waiting periods, eligibility requirements, vesting, contributions, exclusions and other similar conditions or limitations. Any and all benefits under any such plans shall also be payable, if applicable, in accordance with the underlying terms and conditions of such plan document. Executive’s participation in the foregoing plans and any perquisite programs will be on terms no less favorable than afforded to executives at the Executive’s level in the Executive’s country of residence, as in effect from time to time. The Company, however, shall have the right in its sole discretion to modify, amend or terminate such benefit plans and/or perquisite programs at any time except as otherwise provided pursuant to the terms of such plans or programs.
Other Benefit Plans and Programs. Employee shall also be entitled to participate in the Standex Long Term Incentive Program, the Standex Management Stock Purchase Program, and such other incentive, welfare and defined contribution retirement benefit plans as are made available, from time to time to senior divisional management employees of the Employer. Employee shall be entitled to use of an automobile furnished at the expense of Employer in accordance with Employer’s policy on this subject, as such policy shall be revised from time to time.
Other Benefit Plans and Programs. Executive shall also be entitled to participate in the Standex Long Term Incentive Program, the Standex Annual Incentive Program, the Standex Retirement Savings Plan, the Standex Deferred Compensation Plan, and in such other benefit plans and programs as are made available from time to time to senior executives of the Employer. Executive shall be entitled to use of an automobile furnished at the expense of Employer in accordance with Employer’s policy on this subject, as such policy shall be revised from time to time.
Other Benefit Plans and Programs. Except as expressly provided in Paragraph 4 and this Paragraph 5, commencing the first day after ▇▇. ▇▇▇▇▇▇'▇ Retirement Date, ▇▇. ▇▇▇▇▇▇ will not be eligible to participate in any employee benefit or compensation plans or programs offered by Occidental. Any benefits or compensation will be subject to the terms and conditions governing the applicable benefit or compensation plan, including, without limitation, the right of Occidental to modify, amend, change or terminate such plan.
(a) Occidental Savings Plan (401(k)) and Retirement Plan: After ▇▇. ▇▇▇▇▇▇'▇ Retirement Date: (i) ▇▇. ▇▇▇▇▇▇ will be eligible to receive distributions or make withdrawals from the Occidental Savings Plan (401(k)) and Occidental Retirement Plan in accordance with the terms of such plans, and; (ii) ▇▇. ▇▇▇▇▇▇ will not be eligible to make or receive contributions to such plans.
Other Benefit Plans and Programs. Except as expressly provided in Paragraphs 3 or 4 and this Paragraph 5, commencing the first day after your Separation Date, you will cease to be eligible to participate in any employee benefit or compensation plans or programs offered by OPC. Any benefits or compensation will be subject to the terms and conditions governing the applicable benefit or compensation plan, including, without limitation, the right of OPC to modify, amend, change or terminate such plan at any time.
(a) Executive Incentive Compensation Plan (the “EICP”): In accordance with the terms of your Offer Letter:
Other Benefit Plans and Programs. Except as expressly provided in Paragraphs 3 or 4 or this Paragraph 5, commencing the first day after your Retirement Date, you will not be eligible to participate in any employee benefit or compensation plans or programs offered by OPC. Any benefits or compensation will be subject to the terms and conditions governing the applicable benefit or compensation plan, including, without limitation, the right of OPC to modify, amend, change or terminate such plan at any time.
(a) Occidental Petroleum Corporation Savings Plan (the “PSA”) and Occidental Petroleum Corporation Savings Retirement Plan (the “PRA”): After your Retirement Date: (i) you will be eligible to receive distributions or make withdrawals from the PSA and PRA in accordance with the terms of such plan, and; (ii) you will not be eligible to make or receive contributions to either the PSA or the PRA.
(b) Deferred Compensation Plan and Supplemental Retirement Plan (“Deferral Arrangements”): If you are a participant in any of the Deferral Arrangements, you will receive distributions according to the provisions of the applicable Deferral Arrangement. After December 31, 2022, you will not be eligible to make or receive further contributions to such Deferral Arrangements.
(c) Health Savings Account (“HSA”): If you participate in a high deductible health plan and you also elect to contribute to an HSA, Employer contributions and automatic payroll deductions for your HSA will cease as of your Retirement Date. After your Retirement Date, you may contribute directly to your HSA provider.
Other Benefit Plans and Programs. Except as expressly provided in Paragraphs 3 or 4 or this Paragraph 5, commencing the first day after your Separation Date, you will not be eligible to participate in any employee benefit or compensation plans or programs offered by OPC. Any benefits or compensation will be subject to the terms and conditions governing the applicable benefit or compensation plan, including, without limitation, the right of OPC to modify, amend, change or terminate such plan at any time.
(a) Executive Incentive Compensation Plan (the “EICP”): With respect to the 2017 plan year, you will be eligible to receive a prorated lump sum payment, subject to the terms of the EICP, prorated based on (i) your months of service during the plan year to and including your Separation Date, and (ii) your 2017 target bonus of $900,000. The amount of any prorated EICP bonus, reduced by appropriate deductions for applicable taxes, will be paid in accordance with the terms of the EICP, with payment made no later than March 14, 2018, and the amount based on the Compensation Committee’s determination of the payout percentage for your award.