Income Continuation. The Executive will be entitled to continue to receive his Base Salary until the last day of the twelfth complete calendar month beginning after the termination date. Such amounts shall be payable in accordance with the regularly scheduled payroll for similarly situated employees. These payments shall be treated as “separation pay” (within the meaning of Section 409A of the Code) to the maximum extent permitted by Treasury Regulation §1.409A-1(b)(9). Any payments in excess of the maximum amount that can be treated as separation pay pursuant to Treasury Regulation §1.409A-1(b)(9) shall be subject to the provisions of Section 5.08.
Income Continuation. The Executive will be entitled to continue to receive his Base Salary until the last day of the twelfth complete calendar month beginning after the termination date.
Income Continuation. The Employer agrees to make the Wisconsin Public Employer’s Group Income Continuation Insurance Program available to eligible regular full-time and regular part time employees. The District will pay the premium for coverage benefits equal to a one hundred eighty (180) day waiting period. Employees may purchase at their own expense coverage to decrease the waiting period in thirty (30) day increments and the District will deduct such additional premiums through payroll deduction.
Income Continuation. Income continuation benefits will be paid in 16 80-hour increments. Income continuation benefits shall immediately cease upon the ear- 17 lier of any of the following events: exhaustion of the employee’s total income continuation 18 benefit, re-employment with the Company or any of its subsidiaries or affiliates, failure to 19 accept a formal offer of recall from layoff within ten workdays after it is extended; failure 20 to report to work on the date designated by the Company or change in the employee’s 21 employment status from layoff to resignation, dismissal, retirement, death, or leave of 22 absence. 23 Section 7.16(d) No employee shall be paid an income continuation benefit more than 25 once during any two year period; provided, however, if an employee is re-employed by 26 the Company before payment of the employee’s total income continuation benefit and is 27 subsequently laid off in such two-year period under conditions which make the employee 28 eligible for a benefit, any unused benefit will be payable to the employee under the provi- 29 sions of this Section. 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 1 ARTICLE 8 2 CONTRACT LABOR AND SUBCONTRACTING 3 4 Section 8.1 Intent Regarding Non-Employee Sources of Engineering Services 6 It is the Company’s intent that non-employee sources of engineering services (e.g., Contract Labor, 7 Industry Assist, Joint Ventures, Partnerships, and Purchased Services) will be used as a buffer to lessen 8 the need for layoffs of engineering employees during times of reductions in force and as a resource 9 not readily available to the Company otherwise. During the time of a general reduction in force in at 10 the Company’s plants in Sedgwick County, Kansas among engineering employees involving two (2) 11 percent or more of the bargaining unit, the Company will consider whether engineering work per- 12 formed by non-employee sources of engineering services that was previously performed by bargaining 13 unit members may be reassigned to Company engineers. Prior to layoffs pursuant to Sections 7.3, 7.4 14 and 7.5, the Company will meet with the Union to review subcontracted work that was previously 15 performed by the Unit at the Company’s plants in Sedgwick County, Kansas. This review shall be 16 completed within sixty (60) days of the first layoff notices to the affected skill management code. If 17 all five (5) of the following conditions can be fully satisfied, the previously subc...
Income Continuation. Income continuation benefits will be paid in 40-hour increments. Income continuation benefits shall immediately cease upon the earlier of any of the following events: exhaustion of the employee’s total income continuation benefit, re-employment with the Company or any of its subsidiaries or affiliates, failure to accept a formal offer of recall from layoff within ten workdays after it is extended; failure to report to work on the date designated by the Company or change in the employee’s employment status from layoff to resignation, dismissal, retirement, death, or leave of absence.
Income Continuation. The Executive will be entitled to receive an income continuation payment equal to $6,731 per calendar week until the last day of the twenty-eighth complete calendar week beginning after the termination date.
Income Continuation. The Executive will be entitled to continue to receive his Base Salary until the last day of the twenty-fourth (24th) complete calendar month beginning after the termination date. [4] Health Care. The Company will reimburse the Executive for the cost of continuing health coverage under COBRA, less the amount the Executive is expected to pay as an employee premium for this coverage, if any, until the earlier of [a] the last day of the twenty-fourth (24th) complete calendar month beginning after the termination date or [b] the date the Executive becomes eligible for the same or similar coverage under another benefit program. The Company will also promptly make a payment to the Executive in an amount rounded to the nearest $100.00 which is equal to any federal, state and local income, employment and wage taxes (using the individual tax rate applicable to the Executive for year for which the termination occurs) for which the Executive will be liable as a result of his receipt of the COBRA reimbursement (the additional cash payment provided for in this sentence being referred to as a “Gross-Up Payment”). In addition, the Executive shall be entitled to promptly receive from the Company a further Gross-Up Payment in respect of each prior Gross-Up Payment until the amount of the last Gross-Up Payment is less than $100.00.
Income Continuation. (a) Subject to the provisions of Section 7, upon termination of the employment pursuant to Section 4 of a Plan Member who is an Officer or who, on the Date of Termination, has at least one year of Service, the Company shall pay to him the sum of his annual base salary at the rate in effect at the time Notice of Termination is given plus his Annual Bonus (excluding Performance Stock/Cash Awards) under the I.C. Plan based on such rate, in equal monthly installments over a period of 12 months following the Date of Termination; provided that in the case of Notice of Termination given after a Change in Control, the payments shall consist of three times his annual base salary plus three times his Annual Bonus, payable over a 36 month period; and provided further that in the case of Notice of Termination given after a Special Change in Control, the payments shall consist of three times his annual base salary plus three times his Annual Bonus, payable in a single lump sum payment at the time of the Notice of Termination. As used in this Section 5, "Annual Bonus" means the greater of (i) the annual target bonus under the I.C. Plan attributable to the Plan Member or (ii) said annual target bonus times a fraction equivalent to the average percentage of said annual target bonus paid to said Plan Member for each of the two preceding fiscal years of the Company (or for such lesser period of time as such Plan Member participated in the I.C. Plan).
Income Continuation. A TOP participant will receive their termination payments in income continuation installments equal to their basic weekly wage rate (less appropriate taxes) at the time of layoff. Income continuation installments will continue until which- ever of the following occurs first: • The TOP participant refuses a lateral or upgrade job offer in their HJA. Termination payments will stop immediately and the balance will not be paid to the TOP partici- pant. • The TOP participant refuses a downgrade job offer in the HJA, a job offer in the EHJA or a job offer outside the EHJA and receives the balance of their termination payments. • The TOP participant obtains other full-time or part-time employment as defined by the Company with a non-SBC Midwest Company and receives the balance of their termination payments. • The TOP participant’s termination payments are exhausted. • The TOP participant fills a regular full-time job vacancy in another SBC Midwest Company. Termination payments will stop immediately and the balance will not be paid to the TOP participant. • The TOP participant fills a job vacancy with the Company in accordance with con- tractual reemployment rights. A TOP participant may be selected for recall from layoff to fill an available job opening for a job never held by the TOP participant utilizing a “most qualified” over basic qualified selection process, irrespective of the recall from layoff provisions as set forth in the Parties’ Collective Bargaining Agree- ment. • The TOP participant elects to voluntarily terminate participation in TOP and re- ceives the balance of the termination payments. Appendix A A2
Income Continuation. The Company will continue to make bi-weekly payments to you based on your current base salary ($550,000.00) and will subsidize your COBRA medical premium (collectively “Income Continuation”), for up to one year (“Income Continuation Period”), subject to the following conditions: (1) prior to receiving any Income Continuation you must execute this Agreement; (2) during the Income Continuation Period, you agree to abide by all terms of this Agreement; (3) if you accept new employment or establish any other professional relationship (e.g. a consulting relationship) for which you are compensated during the Income Continuation period or if you breach any of your obligations to the Company, Income Continuation payments will cease effective on your acceptance or breach as described herein; and (4) you agree to inform the Company within five days of your acceptance of new employment or other compensated relationship. However, if you wish to enter into new employment or accept other compensation, and the compensation (including salary, bonus, and fees) you will receive is less than what you would otherwise receive as Income Continuation, the Company, based on your request in advance, may consider and at its sole option elect to continue to pay to you the difference between what you would otherwise receive in Income Continuation payments and the new compensation amount for the remainder of the Income Continuation Period.
