Administration of Plan. The Plan is administered by the Committee appointed by the Company’s Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding awards pursuant to the Plan, and to require of any person receiving an award, at the time of such receipt or lapse of restrictions, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any State, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall in its discretion, deem necessary by reason of the Internal Revenue Code or any rule or regulation thereunder, or by reason of the tax laws of any State.
Administration of Plan. The Plan is administered by a Committee appointed by the Company's Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding options, and to require of any person exercising this option, at the time of such exercise, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any State, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall in its discretion, deem necessary by reason of the Internal Revenue Code or any rule or regulation thereunder, or by reason of the tax laws of any State.
Administration of Plan. The Plan Administrator has the power and discretion to construe the provisions of the Plan and to determine all questions relating to the eligibility of employees of Participating Employers to become Participants in the Plan, and the amount of benefits to which any Participant may be entitled thereunder in accordance with the Plan. Not in limitation, but in amplification of the foregoing and of the authority conferred upon the Plan Administrator, the Plan Sponsor specifically intends that the Plan Administrator have the greatest permissible discretion to construe the terms of the Plan and to determine all questions concerning eligibility, participation and benefits. Any such decision made by the Plan Administrator will be binding on all Employees, Participants, and Beneficiaries, and is intended to be subject to the most deferential standard of judicial review. Such standard of review is not to be affected by any real or alleged conflict of interest on the part of the Plan Administrator. The decision of the Plan Administrator upon all matters within the scope of its authority will be final and binding.
Administration of Plan. 9.4.5.1 During December of each year all regular employees shall receive an accounting of their Spending Account for the previous benefit year including an indication of additional amounts to be made available for the current benefits year and shall receive a confirmation of their benefit coverage as it existed at the end of the previous benefit year.
9.4.5.2 Not later than June 30 of each year temporary employees shall receive an accounting of their Spending Account for the previous benefit year including an indication of additional amounts to be made available for the current benefits year and shall receive a confirmation of their benefit coverage as it existed at the end of the previous benefit year.
9.4.5.3 Following receipt of the accounting in Article 9.4.5.1 or Article 9.4.5.2 above, each enrolled employee shall select at least one designation for the unspent money in the Spending Account. Such designation could include: • depositing it in the College’s group Registered Retirement Savings Plan, • directing it to be paid as taxable income, • directing it to other non-taxable purposes, or • allowing it to accumulate in their Spending Account.
9.4.5.4 The minimum cost to the College, per year, shall be based on the per coverage unit premium cost of the first year of the plan. At the end of four years that per unit cost multiplied by the number of units of coverage during each of the first four years shall be totalled and shall represent the College’s minimum commitment to the plan. Any difference between the minimum commitment and the actual premium cost to the college shall be held intact for future use under the Flexible Benefits Plan or used for the benefit of the plan participants in a mutually agreed manner.
9.4.5.5 Any employee may appeal to the Joint Benefits Review Subcommittee of the Joint Standing Committee about any aspect of the Flexible Benefits Plan, including eligibility for coverage, eligibility of particular expenses for reimbursement, and the amount of premium prepayment required. The committee may recommend any action that it feels is appropriate in the circumstances.
9.4.5.6 The Joint Benefits Review Subcommittee of the Joint Standing Committee shall annually review the service levels received by employees under this plan. Where satisfaction levels drop below an acceptable level the College shall take corrective action to bring the service levels up to an acceptable level. The Joint Benefits Review Subcommittee of the Joint Standing...
Administration of Plan. The Plan is administered by a Committee appointed by the Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding options, and to require of any person exercising this Option, at the time of such exercise, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any state, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall, in its discretion, deem necessary by reason of the Code or any rule or regulation thereunder or by reason of the tax laws of any state. All such Committee determinations shall be final, conclusive, and binding upon the Company and the Participant.
Administration of Plan. The Plan is administered by the Committee appointed by the Company’s Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, and to amend outstanding awards pursuant to the Plan.
Administration of Plan. 9.4.5.1 By June 8th, the University shall advise each enrolled employee with the annual amount in the Spending Account to be allocated to at least one designation. Such designation could include: depositing it in the University’s group Registered Retirement Savings Plan, directing it to be paid as taxable income, directing it to the Health Care Spending Account, or directing it to their Professional Development Account. in absence of any selection, all money in the spending account will be allocated to their Professional Development account.
9.4.5.1.1 By June 8th, the University shall also advise each enrolled employee of their accumulated funds in the employee’s PD account.
9.4.5.2 Any employee may appeal to the Joint Benefits Review Subcommittee of the Joint Standing Committee about any aspect of the Flexible Benefits Plan, including eligibility for coverage, eligibility of particular expenses for reimbursement, and the amount of notional premium prepayment required. The committee may recommend any action that it feels is appropriate in the circumstances.
9.4.5.3 The Joint Benefits Review Subcommittee of the Joint Standing Committee shall annually review the service levels received by employees under this plan. Where satisfaction levels drop below an acceptable level the University shall take corrective action to bring the service levels up to an acceptable level. The Joint Benefits Review Subcommittee of the Joint Standing Committee shall establish acceptable service levels and decide the appropriate means for measuring these levels.
Administration of Plan. The Board shall administer the Plan and this Agreement in accordance with their provisions and shall have full and final authority in its discretion to (a) interpret the provisions of the Plan and this Agreement and decide all questions of fact arising in their application, and its interpretation and decisions shall be in all respects final, conclusive and binding; and (b) make all other determinations, rules and regulations necessary or advisable for the administration of the Plan and this Agreement. Notwithstanding any provisions of this Agreement to the contrary, the Board shall have the power to permit, in its discretion, an acceleration of any previously determined Option exercise terms or to otherwise amend the terms of an Option, under such circumstances and upon such modified or different terms and conditions as it deems appropriate, subject, however, to the provisions of the Plan. No member of the Board shall be personally liable for any action or determination in respect to the administration of the Plan and this Agreement if made in good faith.
Administration of Plan. The provisions of this section shall be administered in accordance with the School District policy for tax-sheltered annuities.
Administration of Plan. The Plan shall be administered by the Committee. The express grant in the Plan of any specific power to the Committee shall not be construed as limiting any power or authority of the Committee. Any decision made or action taken by the Committee to administer the Plan shall be final and conclusive. No member of the Committee shall be liable for any act done in good faith with respect to this Plan or any Agreement or Award. The Company shall bear all expenses of Plan administration. In addition to all other authority vested with the Committee under the Plan, the Committee shall have complete authority to:
(a) Interpret all provisions of this Plan;
(b) Prescribe the form of any Agreement and notice and manner for executing or giving the same;
(c) Make amendments to all Agreements;
(d) Adopt, amend, and rescind rules for Plan administration; and
(e) Make all determinations it deems advisable for the administration of this Plan.
