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1.        Purpose

The Fringe Benefit Incentive Plan is offered as a means of cost containment. Any employee having adequate medical insurance coverage through his/her spouse's policy or any employee not desiring medical coverage may voluntarily elect to receive a monthly payment in lieu of medical insurance benefits.

2.        Guidelines

Should circumstances change at any time for an employee who has voluntarily waived the right to medical fringe benefits, the employee may request that his/her medical benefits be reinstated on a specific date in accordance with the provisions of the insurance carrier with no questions asked as long as the request is made prior to any incurred medical expenses. Medical fringe benefits referred to in this policy include the Blue Cross, Blue Shield and Major Medical currently in effect or equal to or better than the coverage currently in effect.

This incentive plan is strictly voluntary in nature.

Any employee eligible for fringe benefits may elect to receive or waive medical fringe benefits as per his/her own decision.

The plan is renewable on July 1 of each year at the discretion of the Board. If the plan is not renewed, participating employees will receive fifteen (15) days notice that the plan will be terminated.