Flex Benefits Sample Clauses

Flex Benefits. 1. With the flex budget employees can do the following in Flex Benefits: – Purchase leave hours; – Participate in the bicycle scheme; – Settle the trade union contribution in a tax-friendly manner; – Reserve the budget for later; 2. Spending in Flex Benefits cannot be higher than the current balance in Flex Benefits. Leave Wellbeing, sickness and invalidity Pension and death Other schemes Appendix 3. At the end of a calendar year a potential positive balance in Flex Benefits is, for tax reasons, paid out to the employee. Purchased leave hours that the employee did not use or sell will also be paid out in January of the following calendar year. At the start of the sceme the demotion supplement amounts to less than € 600.00 gross per month At the start of the sceme the demotion supplement amounts to € 600.00 gross or more per month 1st year, immediately upon start of demotion 75% of the supplement 1st year, immediately upon start of demotion 75% of the supplement 2nd year, first half of the year 50% of the supplement 2nd year 50% of the supplement 2nd year, second half of the year 25% of the supplement 3rd year 25% of the supplement From the 3rd year 0% (supplement has fully been phased out) From the 4th year 0% (supplement has fully been phased out) General Working at Aegon Training and development
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Flex Benefits. Each full-time employee will be provided the opportunity to purchase a Pre-Tax Premium and Reimbursement Account Plan.
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Flex Benefits. The Company shall provide a paramedical “flex” care benefit package to a maximum of $750.00 per year per individual comprised of Massage Therapy, Naturopath, Physiotherapy, Registered/Licensed Social Worker, Registered Psychologist, Osteopath and Acupuncture.
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Flex Benefits. Bargaining Unit members will participate in the Employer's flexible benefits plan. During the 1st quarter of 2002, each employee coded 20 hours or greater will receive a $500 payment to defray any increases in benefit costs to the employee. This plan would be limited to the 2002 plan year. If there is a national resolution to flexible benefits, that plan will be considered for adoption prior to the next open enrollment. Should a national resolution not be available, discussions would be reopened on July 1, 2002 to decide on continuing participation in the flexible benefit plan offered or the creation of a traditional benefit plan. These discussions would be completed by September 16, 2002 to allow time for implementation during open enrollment. The union would retain the right to economic sanctions. Effective January 1, 2006 all bargaining unit members who become benefit eligible through Benefit Average Hours, will be placed on the same Flexible Benefits Plan as those whose eligibility is determined by coded scheduled hours.
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Flex Benefits. The Executive will be eligible to participate in the Flexible Benefits scheme. The Executive will receive 4% of the Executive’s basic salary which may be taken as cash or used to select benefits under the scheme. Membership of the scheme will commence on the first day of the month following the commencement of employment and will be subject to the scheme rules.
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Flex Benefits. An employee is eligible to participate in the Company Flex Benefit Plan on the first of the month following three (3) months of employment, which includes: Life Insurance, Accidental Death, Long Term Disability, Extended Health, Dental and Vision care.
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Flex Benefits. Employees may waive group health insurance coverage upon submission of proof that they are covered under another group health insurance plan. Grandfathered employees, those who receive flex benefits in lieu of base insurance coverage, must have been hired by the District prior to July 1, 2004. Employees hired after June 30th, 2004 will not receive the $1,500 from the District even if they are eligible to waive District coverage. Under a cafeteria plan, any flexible benefit deposits made by employees that remain unspent at the end of a benefit year must, by law, be returned to the District. However, it is the practice of the District to add these unspent funds, to reduce health insurance premiums in subsequent years.
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Flex Benefits. The Parties agree to form a committee to explore the possibility of implementing a flexible benefit program for the firefighters without there being any increase in cost to the Employer to provide this option. Costs will be measured against the current premium costs paid by the Employer on behalf of the bargaining unit for the current base benefit plan plus the enhancements offered by the Employer of glass subsidy increased to months, hearing aids increased to months and increased to per two pair per year maximum. The committee will consist of a representative from the Association, a representative the Employer, support from a representativefrom the Employer's benefits provider, and, if the Association chooses, a financial advisor to assist them in the discussions. If the parties are unable to reach agreement, either party may request the of a neutral, third party financial advisor to assist in the discussion. The Parties will endeavor to hold this meeting prior to March In the event that it is not possible for the Employer to provide a flex benefit plan to the fire fighters at no appreciable increase in its costs, the existing benefit plans will be maintained except to the extent modified in the first paragraph of this article. The Parties agree there will be no change to Retiree benefits during the term of this collective bargaining agreement.
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Flex Benefits. 1. With the Flex Budget, employees can do the following with Flex Benefits: – Purchase leave hours; – Participate in the bicycle scheme; – Settle the trade union contribution in a tax-friendly manner; – Reserve the budget for later; 2. Spending in Flex Benefits cannot be higher than the current balance in Flex Benefits. 3. At the end of a calendar year a potential positive balance in Flex Benefits is, for tax reasons, paid out to the employee. Purchased leave hours that the employee did not use or sell will also be paid out in January of the following calendar year.
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Related to Flex Benefits

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Welfare Benefits Subject to the terms and conditions of this Agreement, for a period of twelve (12) months following the date of Involuntary Termination (and an additional twelve (12) months if the Executive provides consulting services under Section 14(f) hereof), the Executive and his dependents shall be provided with life, disability, accident and group medical benefits which are substantially similar to those provided to the Executive and his dependents immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Without limiting the generality of the foregoing, the continuing benefits described in the preceding sentence shall be provided on substantially the same terms and conditions and at the same cost to the Executive as in effect immediately prior to the date of Involuntary Termination or the Change in Control Date, whichever is more favorable to the Executive. Such benefits shall be provided in a manner that complies with Treasury Regulation Section 1.409A-1(a)(5). Notwithstanding the foregoing, if Sempra Energy determines in its sole discretion that the portion of the foregoing continuing benefits that constitute group medical benefits cannot be provided without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or that the provision of such group medical benefits under this Agreement would subject Sempra Energy or any of its Affiliates to a material tax or penalty, (i) the Executive shall be provided, in lieu thereof, with a taxable monthly payment in an amount equal to the monthly premium that the Executive would be required to pay to continue the Executive’s and his covered dependents’ group medical benefit coverages under COBRA as then in effect (which amount shall be based on the premiums for the first month of COBRA coverage) or (ii) Sempra Energy shall have the authority to amend the Agreement to the limited extent reasonably necessary to avoid such violation of law or tax or penalty and shall use all reasonable efforts to provide the Executive with a comparable benefit that does not violate applicable law or subject Sempra Energy or any of its Affiliates to such tax or penalty.

  • ▇▇▇▇▇▇▇▇▇ Benefits (1) In addition to the salary and benefits described in Paragraph 7A, if the Executive’s employment is terminated pursuant to Paragraphs 6C or 6D, the Executive shall be entitled to the following: (i) the continuation of his Base Salary at the annual salary rate then in effect (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), for a period of one year following the termination of the Executive’s employment (the “Severance Period”), payable in accordance with the Employer’s payroll policy from time to time in effect and subject to the limitations imposed under subparagraph 7B(3); (ii) a pro-rata portion of the Bonus for the year in which the Executive’s employment terminates, if such Bonus would have been earned had the Executive been employed and in good standing as of the date the Bonus otherwise is paid to other senior level executive of the Employer, and payable at the time the Bonus otherwise is paid to other senior level executives of the Employer; (iii) the Bonus attributable to the calendar year prior to the calendar year in which the Executive’s employment terminates, if such Bonus would have been earned had the Executive been employed and in good standing as of the date the Bonus otherwise is paid to other senior level executive of the Employer, and provided such Bonus had not yet been paid in accordance with the timing provisions set forth in Paragraph 4B, and payable at the time the Bonus otherwise is paid to other senior level executives of the Employer; (iv) a payment equal to one hundred percent (100%) of the Target Bonus (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), based upon the Base Salary for such year, to be paid at the same time that performance bonuses are generally paid by the Employer to its executives for the year in which such termination occurs; (v) equity compensation, if any, subject to the terms of the Executive’s award agreement; (vi) professional outplacement services by a company selected by, and paid by, the Employer within one (1) year after the date of termination, in an amount not to exceed $32,000; and (vii) continued coverage of the Executive and his dependents in the medical and dental insurance plans sponsored by the Employer, as mandated by COBRA, which may continue to the extent required by applicable law and the Employer shall pay for such coverage, at the same rate the Employer pays for health insurance coverage for its active employees under its group health plan (with the Executive required to pay for any employee-paid portion of such coverage), through the earlier of (a) the last day of the Severance Period or (b) the date the Executive becomes eligible for coverage under another group health plan that does not impose preexisting condition limitations on the Executive’s coverage, provided, however, that nothing herein shall be construed to extend the period of time over which such COBRA continuation coverage may be provided to the Executive and his dependents beyond that mandated by law and, provided further, that the Executive shall be required to pay the entire cost of such COBRA continuation coverage for any time following the last day of the Severance Period. (2) The foregoing notwithstanding, if at any time within one hundred twenty (120) days immediately preceding or one (1) year immediately following a “Change in Control,” the Executive’s employment is terminated pursuant to Paragraph 6C or 6D, the Executive shall be entitled to the following compensation, in lieu of any payments otherwise set forth in Paragraph 7B(1) above, and payable within sixty (60) days following the later of the Change in Control or the termination, subject, however, to the limitations imposed under subparagraph 7B(3): two (2.0) times the Executive’s Base Salary at the annual rate then in effect (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated) and two (2.0) times the Target Bonus (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), based upon the Base Salary for such year. In addition, upon the termination of the Executive’s employment as set forth in this subparagraph 7B(2) the Executive and his dependents shall be offered continued coverage under the Employer’s group health plan for the duration of the COBRA continuation period on the same financial terms as described above in subparagraph 7B(1)(vii) and shall also be entitled to the compensation and benefits, if any, set forth in subparagraphs 7B(1)(ii), (iii), (v) and (vi), above. (3) Notwithstanding the foregoing, if the Executive is a “specified employee” as such term is defined under Section 409A of the Code and the regulations and guidance promulgated thereunder, any payments described in this Paragraph 7B shall be delayed for a period of six (6) months following the Executive’s separation of employment to the extent and up to an amount necessary to ensure such payments are not subject to the penalties and interest under Section 409A of the Code. The payments to be made under this Paragraph 7B shall be further conditioned upon the Executive’s execution of an agreement acceptable to the Employer that (i) waives any rights the Executive may otherwise have against the Employer, and (ii) releases the Employer from actions, suits, claims, proceedings and demands related to the period of employment and/or the termination of employment. For purposes of this Paragraph 7B, “Change in Control” shall be as defined under the 2006 Incentive Compensation Plan, as in effect on the date hereof, which definition is incorporated herein by reference; provided, however, the definition of Change in Control as set forth herein is not intended to be broader than the definition of a “change in control event” as defined by reference to the regulations under Section 409A of the Code, and the payments described in Paragraph 7B(2) shall not be payable unless the applicable Change in Control constitutes a change in control event in accordance with Section 409A of the Code and the regulations and guidance promulgated thereunder.

  • Health Benefits For the eighteen (18) month period following the Termination Date, provided that Executive is eligible for, and timely elects COBRA continuation coverage, the Company will pay on Executive’s behalf, the monthly cost of COBRA continuation coverage under the Company’s group health plan for Executive and, where applicable, her spouse and dependents, at the level in effect as of the Termination Date, adjusted for any increase in such level paid by the Company for active employees, less the employee portion of the applicable premiums that Executive would have paid had she remained employed during the such eighteen (18) month period (the COBRA continuation coverage period shall run concurrently with the eighteen (18) month period that COBRA premium payments are made on Executive’s behalf under this subsection 1(a)(ii)). The reimbursements described herein shall be paid in monthly installments, commencing on the sixtieth (60th) day following the Termination Date, provided that the first such installment payment shall include any unpaid reimbursements that would have been made during the first sixty (60) days following the Termination Date. Notwithstanding the foregoing, the Company’s payment of the monthly COBRA premiums in accordance with this subsection 1(a)(ii) shall cease immediately upon the earlier of: (A) the end of the eighteen (18) month period following the Termination Date, or (B) the date that Executive is eligible for comparable coverage with a subsequent employer. Executive agrees to notify the Company in writing immediately if subsequent employment is accepted prior to the end of the eighteen (18) month period following the Termination Date and Executive agrees to repay to the Company any COBRA premium amount paid on Executive’s behalf during such period for any period of employment during which group health coverage is available through a subsequent employer. Notwithstanding the foregoing, the Company reserves the right to restructure the foregoing COBRA premium payment arrangement in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to the Company or Executive (including, without limitation, to avoid any penalty imposed for violation of the nondiscrimination requirements under the Patient Protection and Affordable Care Act or the guidance issued thereunder), as determined by the Company in its sole and absolute discretion.

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.