Compensation Payment definition

Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –
Compensation Payment has the meaning given to it in the Limited Assignment of Construction Contract.
Compensation Payment means either the Default Termination Payment or the Non-Default Termination Sum as defined in Schedule B.

Examples of Compensation Payment in a sentence

  • In the event of an Employee accident on the job that qualified for payment under Industrial Insurance - Medical Aid (Workmen’s Compensation), earned sick leave may, at the Employee’s discretion, be paid equal to the difference between the Workmen’s Compensation payment and the Employee’s regular salary until the Employee returns to work or the Employee’s earned sick leave has been exhausted.

  • When an Employee is absent as a result of an accident, occupational illness or disease in connection with the Employee s employment and benefits are being paid by the Workers Compensation Board, the difference between the Employee s regular net pay and the Workers Compensation payment will be paid by the Employer for a period not to exceed one (1) year and shall not reduce the Employee's accumulated sick leave credits.

  • When an Employee is absent as a result of an accident, occupational illness or disease in connection with the Employee’s employment and benefits are being paid by the Workers” Compensation Board, the difference between the Employee’s regular net pay and the Workers’ Compensation payment will be paid by the Employer for a period not to exceed two (2) years and shall not reduce the Employee’s accumulated sick leave credits.

  • For each day of absence the bargaining unit member will be charged with that portion of sick leave day which represents the difference between the Worker's Compensation payment and his/her regular pay.

  • You acknowledge that it is the sole decision of ATC whether to accept or reject any offer of a partial Compensation payment made by the Airline.


More Definitions of Compensation Payment

Compensation Payment means a payment by Xxxxxxx to or for the benefit of Executive in the nature of compensation, whether paid or payable pursuant to this Agreement or otherwise.
Compensation Payment has the meaning given in Schedule 7.2 (Payments on Termination);
Compensation Payment means a payment, other than a goodwill payment, made by us to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of our contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where we accept liability for having caused the loss concerned. Compensation payment excludes
Compensation Payment shall have the meaning set forth in Section 6(a) of this Agreement.
Compensation Payment has the meaning given in Clause 46.6;
Compensation Payment means a payment, including a payment in money’s worth, made—
Compensation Payment means a sum calculated as follows: