50 of the Top 250 law firms use our Products every day
BOB EVANS FARMS, INC.
DIRECTOR MEDICAL REIMBURSEMENT PROGRAM
The Director
Medical Reimbursement Program (the “Program”)
maintained by Bob Evans Farms, Inc. (the “Company”) is
maintained for certain non-employee members of the Board of
Directors of the Company (the “Board”), effective as of
January 1, 2008.
The non-employee
directors set forth on Exhibit A , attached hereto,
made a part hereof and which may be amended from time to time by
the Board in its sole discretion, are eligible to participate in
the Program.
2. Medical
Reimbursement Payment
Within
30 days following a participant’s retirement from the
Board (as defined below), such participant shall receive a single
lump sum payment equal to the present value of the projected
Company contributions in calendar year 2000 required to allow the
participant to retain coverage under the Company’s group
health plan. The present value will be given 10% interest annually
from calendar year 2000 to the date it is paid. Changes in plan
design, medical inflation, assumptions, or other items after
calendar year 1999 will not be included in the calculation. Such
lump sum payment shall be determined by an actuary retained by the
Company for such purpose.
For purposes of
the Program, “retirement from the Board” shall mean a
“separation from service” within the
|
