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<br />© 2019 Hitesman & Wold, P.A. MEDSURETY, LLC <br />Cafeteria Plan 1-888-816-4234, www.medsurety.com <br />Basic Plan Document <br />53 <br />ARTICLE XV. <br />CASH PAYMENT <br />15.1 Purpose. The purpose of this Article is to describe the cash payment, if any, available under <br />this Plan as an Optional Benefit. All or a portion of the Employer Contribution that is not <br />allocated for the purposes of purchasing Optional Benefits may be available to the Participant in <br />cash. <br />15.2 Terms, Conditions and Limitations. <br />(a) Cash Out of Employer Contribution. If provided in the Adoption Agreement, a <br />Participant who is entitled to allocate the Employer Contribution to pay for Optional <br />Benefits and who does not allocate all of the Employer Contributions to other Optional <br />Benefits available under this Plan shall receive a Cash Payment equal to the amount of <br />the unallocated Employer Contribution, subject to any restrictions specified in the <br />Adoption Agreement. <br />(b) Cash In Lieu Of Coverage. If provided in the Adoption Agreement, if an Employee is <br />eligible for coverage under a group benefit plan sponsored by the Employer and the <br />Employee waives such coverage, the Employee will receive a Cash Payment in lieu of <br />such coverage. The amount of the Cash Payment and the conditions of receiving it shall <br />be as described in the Adoption Agreement. <br />15.3 Payment. Cash Payments shall be made as provided in the Adoption Agreement. If a <br />Participant ceases to meet the eligibility requirements, then Cash Payments cease. <br />15.4 Tax Consequences. Any cash payment received through the Plan is taxable income to the <br />Participant.