of earnings Sample Clauses

of earnings. An employee who is regularly scheduled to work two (2) days per week would receive six (6) days of vacation at six percent (6%) of earnings.)
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of earnings. (f) Employees with twenty (20) years of seniority or more as of their anniversary date, six (6) weeks with vacation pay of twelve percent (12%) of earnings. The Company has the option to give one (1) weeks' pay in lieu of time off.
of earnings. The Employer shall provide supplementary pension contribution, on behalf of each employee, as follows: Last Sunday of 2015 0.75% Last Sunday of 2016 0.25% Last Sunday of 2017 0.25% Last Sunday of 2018 0.25% Last Sunday of 2019 0.25% Participation in the Trust will be through a separate Division. It is agreed and understood that the Union and the Employer will request the Trustees of the Plan to create such separate Division by allocating it to the liabilities for accrued benefits in respect of active and disabled employees subject to the collective agreement, and retired and terminated vested employees who were subject to the collective agreement at their retirement or termination, along with a pro-rata share of the assets of the Division of the Trust in which they currently participate. Such allocation to be carried out as of August 15, 1999 on terms and conditions to be established by the Trustees on the advice of the Plan actuary. Employees who have transferred in from other banners under Letter of Understanding #2 who were members of the Trust immediately prior to the transfer shall continue to remit contributions to the Trust on the following basis: Age Last Birthday Percentage Less than 30 Nil 30 or more but less than 40 1% of earnings 40 ore more but less than 50 2% of earnings 50 or more 4% of earnings Employee contributions shall be made by payroll deductions and shall be remitted to the Trust along with Employer contributions. Changes in employee contributions shall be effective the Sunday following the date on which the employee becomes age 30, 40 and 50 respectively. The Trust will ensure sufficient funds are set aside to provide employees who transfer under Letter of Understanding #1 with the same benefits as provided to employees covered by the Overwaitea Division of the Trust. For each employee who is transferred under Letter of Understanding #1, the Employer shall contribute the following percentage of earnings, effective on the dates shown below: December 31, 2000 4% of earnings December 30, 2001 5% of earnings March 30, 2003 6% of earnings
of earnings. It will be a condition of employment for new employees to participate in the Company Pension Plan for which they are eligible after completing two (2) years of service. All members of the Company Pension Plan will contribute by payroll deduction of three percent (3%) of earnings. Effective February 20, 2006 all members of the Company Pension Plan will contribute by payroll deduction of four percent (3.68%) of earnings Normal retirement will be at age sixty-five (65). Early retirement is available with actuarial reduction from age fifty-five (55). The normal retirement pension will be fifty percent (50%) of the member’s required contributions as annual pension payable in monthly instalments for the lifetime of the member for service up to December 31, 2002 and will be fifty-five percent (55%) of the member’s required contributions as annual pension payable in monthly instalments for the lifetime of the member for service after January 1, 2003. In the event of death after retirement, the surviving spouse will receive a pension for life of sixty percent (60%) on the member’s normal pension. If death occurs prior to retirement, the surviving spouse will receive an immediate monthly pension for life of fifty percent (50%) of the member’s earned pension. If the member terminates from the company and has two more years of plan membership, the member will receive a deferred vested benefit equal to the earned pension at date of termination, or upon termination, employees who are vested according to the plan are eligible to transfer their contributions plus credited interest to a locked-in RRSP of their choice.
of earnings. The change from the Finning BC DC Plan to the Machinists Plan is not intended to increase the Company’s cost in any way. Should the Machinists Plan find itself in a position in the future where it cannot fulfill its promises to plan members, the Union will not request additional funding from the Company.
of earnings. The number of working days of vacation entitlement will be determined by dividing the gross vacation pay due by eight times the applicable basic straight time rate of pay as set forth in Article 16 of this Agreement. A year of service within the meaning of this Section shall be one in which an employee works a minimum of 500 hours between January 1st and December 31st. Due consideration will be given for broken service on account of sickness, injury or other reasonable causes. In order to qualify for service benefits, years of service must be consecutive. In the event an employee was absent and in receipt of wage loss benefits from Workers’ Compensation or Weekly Indemnity for a period of eight months or more during the previous calendar year and returns to work, such employee shall be credited with the number of working days of Vacation entitlement without pay as follows: 4% – 10 days 7% – 17 days 8% – 20 days 9% – 23 days 10% – 25 days 11% – 27 days 12% – 30 days 13% – 33 days An employee’s current entitlement to Vacation Pay shall not be reduced as a result of the employee’s failure to work the minimum hours required when such failure is due solely to lack of work opportunity in their Local port area. However, such employee shall not receive credit for any year in which the employee has failed to meet such minimum hours requirement. Amount of vacation pay shall be computed on the basis of earnings from January 1st to December 31st inclusive, in the year immediately preceding that in which vacations are being taken. When an employee leaves the Industry, vacation pay owing will be computed up to the date of termination of employment. The Union shall be responsible for arranging vacations in such a way that the number of members available for work shall not be unduly reduced at any one time. The Union agrees to see that its members take their vacations at the times scheduled for them. While an employee is on vacation the employee’s name shall be taken off the list of employees available for despatch. Vacations shall be scheduled throughout each year for individuals. Vacations may not be cumulative but must be taken in the year scheduled. The Association will not unreasonably deny the request of an employee to change the scheduled term of vacation. A Union member’s creditable service for vacation purposes shall date back to the time the employee was first registered for employment, subject to the qualifying requirements set forth herein. Employees who are n...

Related to of earnings

  • Payment of Earnings The Borrower undertakes with each Creditor Party to ensure that throughout the Security Period (subject only to provisions of the relevant General Assignment), all the Earnings of each Ship are paid to the Earnings Account for that Ship.

  • Sharing of Earnings The Borrower shall procure that no Owner shall:

  • STATEMENT OF EARNINGS AND PROFITS As promptly as practicable, but in any case within sixty days after the Closing Date, the Acquired Fund shall furnish the Acquiring Fund, in such form as is reasonably satisfactory to the Acquiring Fund, a statement of the earnings and profits of the Acquired Fund for federal income tax purposes that will be carried over by the Acquiring Fund as a result of Section 381 of the Code, and which will be certified by the Trust’s Treasurer.

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

  • Vacation Earnings for Partial Years (a) (1) During the first partial year of service a new employee will earn vacation at the rate of one and one-quarter (1¼) days for each month for which he/she earns ten (10) days' pay.

  • Earnings In the event of a Divorce, the Couple agrees that each Spouse’s earnings during the marriage shall be owned by: (check one) ☐ - Each Spouse separately. ☐ - The Couple jointly. Earnings shall include, but not be limited to, salaries, bonuses, personal payments, gifts, dividends, distributions, and any other income.

  • Delivery of Earnings Statements As soon as practicable, the Company will make generally available to its security holders and to the Representative an earnings statement or statements of the Company and its subsidiaries which will satisfy the provisions of Section 11(a) of the Act and Rule 158.

  • Accounting Period The Company’s accounting period shall be the calendar year.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

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