Salary Exchange definition

Salary Exchange means the implementation and/or administration of any contractual arrangement (or purported contractual arrangement) whereby a Worker gives up the right to receive part of his or her cash remuneration, in return for the agreement of the employer to provide some form of non-cash benefit;
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Salary Exchange means the implementation and/ or administration of any contractual arrangement (or purported contractual arrangement) whereby a Worker gives up the right to receive part of his or her cash remuneration, in return for the agreement of the employer to provide some form of non-cash benefit;
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Salary Exchange means an arrangement whereby a Fitness Suite Member who is an employee of the University agrees with the University to give up part of their pay in return for the University providing Fitness Suite Membership, and “Salary Exchange Scheme” shall be the scheme under which this is organised.
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Examples of Salary Exchange in a sentence

  • Effective November 6, 2016, in addition to the contributions in Section 59.6, New Members will contribute eight percent (8.0%) towards the City’s CalPERS employer share of pension through a 20516 CalPERS amendment that allows such contributions as pre-tax via automatic payroll deduction, in exchange for the City granting the salary increase set forth in Section 13.1.5 (CalPERS Salary Exchange) of this MOU.

  • Effective November 6, 2016, employees will contribute eight percent (8.0%) toward the City’s CalPERS employer share of pension through a 20516 CalPERS amendment that allows such contributions via automatic payroll deduction on a pre-tax basis, in exchange for the City granting the salary increase set forth in Section 13.1.5 (CalPERS Salary Exchange) of this MOU.

  • The Employee acknowledges that entering into the Salary Exchange Agreement could affect other benefits such as, but not limited to, Statutory Sick Pay, Statutory Maternity Pay and Working Tax Credits.

  • Salary Exchange enables participating employees to achieve a reduction in their National Insurance contributions, resulting in an increase in your ‘take-home’ pay.

  • Employees who do not participate in Salary Exchange will continue to pay to OSPS the personal contributions as described above.

  • Salary sacrifice (Salary Exchange scheme) All employees who join OSPS, save for those who are earning close to the National Insurance contributions lower earnings limit, are automatically enrolled into Salary Exchange on joining the pension scheme, unless they give notice in writing to the Payroll Manager that they do not wish to be enrolled.

  • Under Salary Exchange, the deduction for an employee’s personal pension contributions is reduced to nil.

  • This Salary Exchange / Hire Agreement constitutes a notice of a variation to your Terms and Conditions of Employment for a Fixed Period of Hire in accordance with the provisions of Section 4 of the Employment Rights Act 1996.

  • Salary Exchange may not be of benefit to employees whose initial contract is for less than two years and who are expecting a refund of pension contributions at the end of the contract.

  • The Post Office is unable to process the increase and arrears in November salaries due to the implications for the payroll system of the recent Salary Exchange Agreement.

Related to Salary Exchange

  • Primary Exchange means, with respect to each Index constituent or each constituent underlying a Successor Index, the primary exchange or market of trading such Index constituent or such constituent underlying a Successor Index.

  • SIX Swiss Exchange means SIX Swiss Exchange AG and any successor thereto; and

  • Optional Exchange means the exchange of the Certificates by the Trust for the Underlying Securities pursuant to Section 7(a) hereof.

  • Optional Exchange Date means any date on which Underlying Securities subject to Optional Exchange are distributed to a Certificateholder.

  • National Exchange means the Nasdaq National Market or any other national exchange on which the Common Stock of the Corporation is listed.

  • Applicable Exchange means the New York Stock Exchange or such other securities exchange as may at the applicable time be the principal market for the Common Stock.

  • Designated Exchange means any of The New York Stock Exchange, The NASDAQ Global Select Market, The NASDAQ Global Market, or any successor to any of the foregoing.

  • Currency exchange means receipt of compensation from the exchange of money of one government for money of another government.

  • Currency Exchange Protection Agreement means, in respect of a Person, any foreign exchange contract, currency swap agreement, currency option or other similar agreement or arrangement designed to protect such Person against fluctuations in currency exchange rates.

  • Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying (the "Derivatives") are mostly liquidly traded, such options and/or futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith by way of notice pursuant to § 6 of the General Conditions.In the case of a material change in the market conditions at the Determining Futures Exchange, such as a final discontinuation of derivatives' quotation linked to the Underlying at the Determining Futures Exchange or a considerably restricted number or liquidity, it shall be substituted as the Determining Futures Exchange by another options and/or futures exchange that offers satisfactorily liquid trading in the Derivatives (the "Substitute Futures Exchange"); such options and/or futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith. In the event of such substitution, any reference to the Determining Futures Exchange in the Terms and Conditions of these Securities shall be deemed to refer to the Substitute Futures Exchange.

  • Applicable Exchange Rate means with respect to any Collateral Obligation denominated and payable in Euros, GBPs, AUDs or CADs on any day, the lesser of (a) the applicable currency-Dollar spot rate used by the Borrower (as determined by the Investment Manager) to acquire such currency on the related Cut-Off Date and (b) the Applicable Conversion Rate for such currency.

  • Principal Exchange means, in respect of a Share, any stock exchange or quotation system on which such Share is listed. As of the date of this Information Statement, the Principal Exchange for each Share is as set forth under "Summary Information Regarding the Companies".

  • Daily Exchange Value means, for each of the 20 consecutive Trading Days during the Observation Period, one-twentieth (1/20) of the product of (a) the applicable Exchange Rate and (b) the Daily VWAP of the Common Stock (or the Reference Property, if applicable) on such day.

  • Designated Stock Exchange means any United States national securities exchange on which the securities of the Company are listed for trading, including the Nasdaq Capital Market.

  • Canadian-U.S. Exchange Rate means, on any date, the inverse of the U.S. - Canadian Exchange Rate in effect on such date;

  • Futures Exchange means the exchange or trading system with the highest trading volume of options or futures contracts relating to the Share. If options or futures contracts on the Share are not traded on any exchange, the Futures Exchange shall be the options or futures exchange with the highest amount of options or futures contracts relating to shares of companies having their residence in the country in which the Company has its residence. If there is no options or futures exchange in the country in which the Company has its residence on which options or futures contracts on shares are traded, the Calculation Agent will determine the Futures Exchange in its reasonable discretion (billiges Ermessen) (§ 317 BGB) and will make notification thereof in accordance with § 6 of the General Terms.

  • Designated Eurodollar Market means, with respect to any Eurodollar Rate Advance, the London Eurodollar Market.

  • Equity Award Exchange Ratio means the sum of (i) the Share Consideration, plus (ii) the quotient of (x) the Cash Consideration divided by (y) the Parent Stock Price, rounded to the nearest one thousandth.

  • Two-party exchange means a transaction in which fuel is transferred from one licensed supplier to

  • Securities Exchange means, at any time, the registered national securities exchange on which the Corporation’s equity securities are then principally listed or traded, which shall be the New York Stock Exchange or NASDAQ Global Market (or similar national quotation system of the NASDAQ Stock Market) (“NASDAQ”) or any successor exchange of either the New York Stock Exchange or NASDAQ.

  • the London Stock Exchange means London Stock Exchange plc;

  • National Securities Exchange means an exchange registered with the Commission under Section 6(a) of the Exchange Act (or any successor to such Section).

  • Approved Stock Exchange means the New York Stock Exchange, NASDAQ or such other stock exchange in the United States of America, the United Kingdom or Hong Kong as is approved in writing by the Facility Agent or, in each case, any successor thereto.

  • Private Exchange means the offer by the Company, pursuant to a Registration Rights Agreement, to the Initial Purchasers to issue and deliver to each Initial Purchaser, in exchange for the Initial Securities held by the Initial Purchaser as part of its initial distribution, a like aggregate principal amount of Private Exchange Securities.

  • LIBOR Deadline has the meaning set forth in Section 2.13(b)(i).