In-Lieu of Payment Sample Clauses

In-Lieu of Payment. In each plan year, full-time employees who are eligible for medical insurance, who have group healthcare elsewhere, and who do not participate shall receive a one-time “in-lieu of” payment in the amount of $1,500.00. Payment shall be paid in October following the plan year. The payment will not be prorated for partial participation. The employee must work the full plan year to receive the payment. In each plan year where the district has a total of 15 or more employees who qualify for the plan but who do not participate, the “in-lieu of” payment will be $2,000.00, paid to qualified employees who did not participate in the medical insurance. The payment will not be prorated for partial participation. In each plan year, if a full-time employee who is eligible for medical insurance opts out, but retains dental insurance, the in-lieu of payment will be reduced by $250.00. In order to be eligible for “in-lieu of” payment, an employee must work a minimum of six (6) hours each day.
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In-Lieu of Payment. In lieu of payment, a Part-Time Unit Member may take time off during a regularly scheduled work day, without any loss of compensation. Bargaining Unit Members can use extra time earned any time during the 12-month period from July 1 to June 30, as mutually agreed upon in writing by the Bargaining Unit Member and the supervisor or designee. Such time off shall be earned on an hour for hour basis or fraction thereof. Time off can be taken as time off in units of one half (½) hour or more. Any unused “in lieu of payment” extra hours will be paid to the employee at end of the 12-month period.

Related to In-Lieu of Payment

  • MODE OF PAYMENT Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee Cheque / Demand Draft or Online Payment (as applicable) in favour of ' ' payable at .

  • Terms of Payment 16.1 The Supplier shall request for payment by submitting invoice(s), delivery note(s) and any other relevant documents as specified in the SCC to the Procuring Entity.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

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