PROGRAMME ELECTIONS Clause Samples
The 'Programme Elections' clause defines the process by which parties select or designate specific programs, services, or options available under an agreement. Typically, this clause outlines the timing, method, and conditions for making such elections, such as submitting written notice or completing a selection form. Its core practical function is to ensure that both parties clearly understand which programs are being chosen and to formalize these choices, thereby reducing ambiguity and potential disputes regarding the scope of participation or service delivery.
PROGRAMME ELECTIONS. The deferral period over which salary is deferred and accumulated, the amount thereof and the period in which leave is granted and repayment of such deferred salary and interest occurs shall be one of the following programmes:
(a) Two (2) years deferral of up to one third (1/3) of annual salary in each year followed by one (1) year of leave;
(b) Three (3) years deferral of up to one quarter (1/4) of annual salary in each year followed by one (1) year of leave;
(c) Four (4) years deferral of up to one fifth (1/5) of annual salary in each year followed by one (1) year of leave;
(d) Five (5) years deferral of up to one sixth (1/6) of annual salary in each year followed by one (1) year of leave.
(e) When mutually agreed between the Employer and the employee, a prepaid leave plan may be devised which allows for a deferral period different from those proposed in 4(a) - 4(d) above, provided that the percent and amount of monies being deferred during the deferral period does not exceed the ratio of the period of the leave of absence (measured in months) divided by the total period of participation in the Plan (i.e. the fraction of the leave of absence over the sum of the deferral period and the leave period).
(f) No plan devised under section 4(e) shall have a deferral period in excess of seventy-two (72) months or a leave period in excess of twelve (12) months.
(g) Following the Employer's approval, the employee and the Employer shall enter into a written agreement which states that the employee waives the right to receive the deferred portion of the salary as defined in accordance with the above. The agreement shall further set out all other terms of the Plan agreed to in accordance with the conditions herein.
PROGRAMME ELECTIONS. The period over which salary is saved and accumulated, the amount thereof, the period for which leave is granted, and the payment of the plan savings and interest, shall be as follows:
(i) Four (4) years savings of up to one fifth (1/5) of net annual salary in each year followed by one (1) year of leave, and not less than six (6) months leave.
(ii) Payment of accumulated savings, plus accrued interest, shall be made in full at the commencement of the leave period, or biweekly throughout the leave period, at the employee's discretion. If the employee chooses to have biweekly payment periods, then interest shall be paid on the balance withheld. All monies saved, including accrued interest, must be paid out by the end of the leave period, less any premiums for the benefits as noted.
PROGRAMME ELECTIONS. The deferral period over which salary is deferred and accumulated, the amount thereof and the period in which leave is granted and repayment of such deferred salary and interest occurs shall be one of the following programmes: two (2) years deferral of up to one third (1/3) of annual salary in each year followed by one (1) year of leave; three (3) years deferral of up to one quarter (1/4) of annual salary in each year followed by one (1) year of leave;
PROGRAMME ELECTIONS. The period over which salary is deferred and accumulated, the amount thereof, the period for which leave is granted, and the payment of the deferred salary and interest, shall be as follows:
(i) Four (4) years deferral of up to one fifth (1/5) of annual salary in each year followed by one (1) year of leave, and not less than six (6) months leave.
(ii) Payment of deferred salary, plus accrued interest, shall be made in full at the commencement of the leave period, or biweekly throughout the leave period, at the employee's discretion. If the employee chooses to have biweekly pay periods, then interest shall be paid on the balance withheld. All monies deferred, including accrued interest, must be paid out by the end of the leave period, less any premiums for the benefits as noted.