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ARTICLE XVIII. <br /> CASH PAYMENT <br /> 18.1 Purpose. The purpose of this Article is to describe the Cash Payment available under this Plan <br /> as an Optional Benefit. The Employer Contribution that is not allocated for the purposes of <br /> benefits under this Plan may be available to the Participant in cash as provided herein. <br /> 18.2 Terms, Conditions and Limitations. A Participant is required to allocate the Employer <br /> Contribution to pay for Core Benefits and may allocate the Employer Contribution for Optional <br /> Benefits. To the extent a Participant waives Group Medical Benefits and does not allocate all of <br /> the Employer Contribution to Benefits available under this Plan, a Participant shall receive a Cash <br /> Payment of the unused Employer Contribution. <br /> 15.3 Payment. Cash Payments shall be made at least monthly and within the month that the <br /> Employer Contribution would otherwise have been used for benefits. Cash Payments shall be <br /> made only to Participants. If a Participant ceases to meet the eligibility requirements, then Cash <br /> Payments shall cease. <br /> 15.4 Tax Consequences. Any cash payment received through the Plan is taxable income to the <br /> Participant. <br /> ©2012 Hitesman&Wold, P.A. 44 City of Elk River <br /> Flexible Benefits Plan <br />