Employee Considerations. The employee must request this leave in advance and at that time arrange to have money deposited in a trust account that will provide income during the leave. Approved leaves must be set up for processing internally at least 4 months before the deferral begins. • When operational circumstances permit, such leave may be approved on more than one occasion. It is mutually exclusive of other types of leave such as that for family-related needs or education. • The employee may request in writing a change to the amount of salary deferred. Such a request would have to be received at least four months before the date on which the change is requested and not later than six months before the date the leave is due to begin. • Payroll will deduct funds and transfer them to the trust account established for the employee at the financial institution. The trust account will generate interest that the financial institution must pay annually to the employee. The employee is then responsible for reporting this interest in his or her annual income tax return. • An employee may, no later than six months before the planned leave date, request in writing a change to the duration of the leave if the leave period requested remains between 6 and 12 months. • Because of the financial implications for the employee, denying leave after the maximum six-year deferral period or recalling an employee from leave requires a manager to obtain the prior written authorization of the President. If an employee is recalled to work before the end of an approved period of SFDL, the Employer will normally reimburse the employee for all necessary and reasonable expenses incurred as a result of being called back. • When the employee’s trust agreement matures, the financial institution is to release the money to an account to which the employee has access, without further Employer involvement, no later than the end of the first taxation year that begins after the end of the deferral period. The employee arranges the manner of payment directly with the financial institution. When the funds are released to the employee, a deduction will be made at source for income tax and other statutory purposes. • All amounts held for the employee's benefit in the trust account, must be paid to the employee. Reference Documents − Income Tax Act and Regulations − Ontario (Ontario Income Tax Act) − Canada (Canada Income Tax Act) − Public Service Superannuation Act (Public Service Superannuation Act) − Code of Ethics an...
Employee Considerations. During the term of this MOU some employee performance measures may require consideration for an adjustment proportionate to the number of work days spent in temporary layoff status. With this in mind, Employees’ workload will be decreased to accommodate their furlough days. For example an employee will not be expected to do in 32 hours what they normally are expected to do in 40 hours. Per FLSA standards, overtime exempt employees whose work hours are reduced by furlough will become overtime eligible during the week they are reduced in hours. Any hours worked over 40 would be subject to xxxxxxxx.Xx administering the assignment of Employer-directed furloughs the employer will strive to identify the largest employee pool possible in order to spread the burden of salary reductions over the widest population while also taking into consideration the operational and service delivery requirements of the agencies. The parties have a mutual commitment to patient and staff safety and thus the employer will ensure that sufficient staffing is in place to meet program needs when determining which employees are furloughed. The employer will make every attempt to not schedule an Agency nurse to fill in the absence of a nurse who is subject to furlough. Nurses who have preapproved vacation, may have the vacation rescinded for the day they are subject to furlough. The remainder of their vacation would remain approved. A furlough day will not fall on a designated or observed holiday.. Alternate work schedules may be temporarily changed by the Employer during the furlough time up until July 31, 2020. Alternate work schedules will revert back to previous schedules after August 1, 2020. The employer will provide the union the names of members who have been in furlough status for each pay period on an ongoing basis.
Employee Considerations. Buyer shall offer comparable grade employment at one of Buyer’s offices and at a salary comparable to their current wage, to all Employees of the Branches who are in good standing with Seller. Following the Closing Date, all Employees to whom employment has been offered will become at will employees of Buyer and shall be eligible for all employee benefits of Buyer with vesting credit for service at Seller or its predecessors.
Employee Considerations. All Employees of Seller shall be terminated on or before the Closing Date at the expense of Seller. Following the Closing Date or at such other time as may be agreed upon by the parties, Buyer will in good faith interview the Employees for consideration as employees of Buyer.
Employee Considerations. (a) With respect to all employees of Seller affiliated with the Branch ("Employees"), as soon as reasonably practicable after the date hereof, and in any event within three (3) days after the date hereof, Seller shall provide notice to (the "Notification") to each Employee that the Seller and Buyer have entered into an agreement with respect to the Buyer's acquisition of the Branch. Seller shall also furnish to Buyer within the designated time period a schedule containing the name of each Employee, such Employee's salary and benefits, and a synopsis of each Employee's tenure with Seller and other information relevant to such Employee. Seller shall inform Buyer of the date of the Notification, and shall, with the Employee's consent, provide Buyer with an opportunity within five (5) business days before the Closing to inspect Seller's records with respect to the Employees and visit with the Employees for the purpose of discussing an offer of employment with each Employee as of the Closing.
Employee Considerations. 6 ----------------------- ARTICLE 5 REPRESENTATIONS AND WARRANTIES.................................... 9 5.1 Seller's Representations..................................... 9 ------------------------ 5.2 Purchaser's Representations.................................. 12 --------------------------- ARTICLE 6
Employee Considerations. (a) Purchaser shall offer employment, through written offer letter, to become effective as of the Closing Date, to all current employees of the Department whose names appear on a list attached hereto as Exhibit 4.1(a) and incorporated herein for all purposes (the "Employees"). To the extent consistent with Purchaser's existing compensation structure for comparable positions and comparable officer titles and its current policies regarding officer titles, all Employees shall be offered employment at base wages and salaries no less favorable than the wages and salaries currently being paid by Seller to such Employees and in positions with comparable responsibilities and officer titles, and, unless agreed upon by such Employee before the Closing Date, within a reasonable geographic proximity to such Employees' current work location. As a condition of acceptance of employment with Purchaser, each Employee will be required to resign their employment with Seller, effective as of the close of business on the Closing Date, and Purchaser shall make this requirement a condition of employment in Purchaser's offer letter to Employees.
Employee Considerations. (a) Buyer shall offer employment as of the Closing Date to all Employees. Following the Closing Date, such Employees will be "at will" employees of Buyer under the same conditions as Buyer's other employees. All Employees shall be offered employment at base wages and salaries no less favorable than the wages and salaries currently being paid by Seller to such Employees. To the extent consistent with Buyer's existing structure for comparable positions and comparable officer titles and its current policies regarding officer titles, Employees shall be offered positions with responsibilities and officer titles comparable to those they currently have with Seller and, unless agreed upon by any such Employee, within a reasonable geographic proximity to such Employee's work location before the Closing Date.
Employee Considerations. 18 2.5 Loans......................................................................................22
Employee Considerations. (a) Buyer shall offer employment as of the day after the Closing Date to all Employees described on Schedule 1.1(a)(1). Buyer shall have the opportunity to interview Employees -18- -------------------------------------------------------------------------------- BRANCH PURCHASE AGREEMENT described on Schedule 1.1(a)(2) and may offer employment as of the day after the Closing Date to any such Employee. All Employees shall be offered employment at base wages and salaries no less favorable than the wages and salaries currently being paid by Seller to such Employees. To the extent consistent with Buyer's existing structure for comparable positions and comparable officer titles and its current policies regarding officer titles, Employees shall be offered positions with responsibilities and officer titles comparable to those they currently have with Seller. Unless agreed upon by an Employee, the position offered by the Buyer will not create a commute that is greater than 35 miles one way, and if the Employee's current commute is in excess of 35 miles one way, the position will not increase the Employee's commute.
