Common use of Initial Election Clause in Contracts

Initial Election. Each Employee shall complete and return an Election Form to Employer before the date he becomes a Participant. If an Employee does not deliver a completed Election Form to Employer before the date the Employee becomes a Participant, the Employee shall generally be deemed to have elected to receive Employer-provided group health coverage for the Plan Year. However, if as of September 30, 2011, a Participant is receiving contributions to a tax-sheltered annuity in lieu of health, dental and/or vision coverage, the Participant shall receive additional Compensation in lieu of health, dental and/or vision coverage if the Participant fails to complete an Election Form and return it to Employer.