MEDICAL CARE PLAN MINUTES OF SPECIAL MEETING OF DIRECTORS
A special meeting of the Board of Directors of the
Corporation was held on _____________________, 19__ at _______.M
All of the Directors being present, it was moved to
approve and adopt a medical care expense reimbursement plan. A
copy of the plan was presented to those present and upon motion
duly made, seconded and unanimously voted, it was
VOTED, that the "Medical Care Reimbursement Plan"
presented to the meeting is hereby approved and adopted,
that a copy of the plan shall be attached to these
minutes, and that the proper officers of the Corporation
are hereby authorized to take whatever action is
necessary to implement the plan, and it is further
VOTED, that the signing of these minutes by the Directors
shall constitute full ratification thereof and waiver of
notice of the meeting by the signatories.
There being no further business to come before the
meeting, upon motion duly made, seconded and unanimously voted,
the meeting was adjourned.
MEDICAL CARE REIMBURSEMENT PLAN OF
The Corporation will reimburse all eligible
employees for expenses incurred by themselves and their
dependents, as defined in IRC #152, as amended, for medical care,
as defined in IRC #213(e), as amended, subject to the conditions
and limitations as hereinafter set forth. It is the intention of
the Corporation that the benefits payable to eligible employees
hereunder shall be excluded from their gross income pursuant to
IRC #105, as amended.
(a) The Corporation shall reimburse any eligible
employee not more than $____________ in any fiscal year for
medical care expenses.
(b) Reimbursement or payment provided under this Plan
shall be made by the Corporation only in the event and to the
extent that such reimbursement or payment is not provided under
any insurance policy(ies), whether owned by the Corporation or
the employee, or under any other health and accident or wage
continuation plan. In the event that there is such an insurance
policy or plan in effect, providing for reimbursement in whole or
in part, then to the extent of the coverage under such policy or
plan, the Corporation shall be relieved of any and all liability
4. SUBMISSION OF PROOF
Any eligible employee applying for reimbursement under
this Plan shall submit to the Corporation, at least quarterly,
all bills for medical care, including premium notices for
accident or health insurance, for verification by the Corporation
prior to payment. Failure to comply herewith, may at the
discretion of the Corporation, terminate such eligible employee's
right to said reimbursement.
This Plan shall be subject to termination at any time by
vote of the Board of Directors of the Corporation; provided,
however, that medical care expenses incurred prior to such
termination shall be reimbursed or paid in accordance with the
terms of this Plan.
The president shall determine all questions arising from
the administration and interpretation of the Plan except where
reimbursement is claimed by the president. In such case
determination shall be made by the Board of Directors.
Adopted by the Board of Directors
on __________, 19__