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ARTICLE II - DEFINITIONS AND CONSTRUCTION <br /> <br /> 2.1 Definition - Whenever used in this Plan, the following words and phrases shall have the <br />meanings set forth below unless the context clearly indicates otherwise: <br /> <br /> (1) "Administrator" - The person or persons, or committee as may be appointed <br />from time to time to supervise the administration of the Plan. Any person or persons so appointed shall <br />serve at the pleasure of the Company and may be subject to termination at any time. In the absence of <br />appointment, the Administrator shall be the Company. <br /> <br /> (2) "Code" - The Internal Revenue Code of 1986, as amended from time to time. <br />Reference to any section or subsection of the Code includes reference to any comparable or succeeding <br />provision of any legislation, which amends, supplements, or replaces such section or subsection. <br /> <br />(3) "Company" - The City of Martinsville and Martinsville City Schools. <br /> <br /> (4) "Compensation" - Total Compensation paid to a Participant during the Plan <br />Year which would be reportable as taxable wages on the Participant's Form W-2 for the Plan Year if <br />the Form W-2 was prepared on a Plan Year basis instead of a calendar year basis. <br /> <br />(5) "Effective Date" - January 1, 1988, Amended July 1, 2002. <br /> <br /> (6) "Employee" - Any individual employed by the Company working on a full <br />time basis who is eligible for coverage in accordance with Article III. <br /> <br /> (7) "Highly Compensated Employee" - A participant who is: (a) an officer; (b) a <br />shareholder owning more than 5% of the voting power or value of all classes of stock of the Company; <br />(c) highly compensated; or (d) a spouse or dependent (within the meaning of Code 152) of an individual <br />who is listed in subsections (a) through (c) above. <br /> <br /> (8) <br />Section 416(i)(1). <br /> <br />"Key Employee" - Any person who is a key employee as defined in Code <br /> <br />(9) "Participant" - Any individual who participates in the Plan in accordance with <br /> <br />Article III. <br /> <br /> (10) "Plan" - The Company Cafeteria Plan as set forth herein, together with any and <br />all amendments and supplements hereto. <br /> <br /> (I 1) "Plan Year" - Unless otherwise specified, the period beginning on the Effective <br />Date and ending on December 31 of each year thereafter. <br /> <br /> (12) "Underlying Plans" - The following plans sponsored by the Company which <br />provide benefits that may be offered through a plan under Code Section 125: <br /> <br />1. Voluntary Medical <br />2. Voluntary Dental Plan <br />3. Voluntary Vision Plan <br />4. Flexible Spending Accounts <br /> 2 <br /> <br /> <br />