Benefit Percentage. As of the Effective Date and subject to the forfeiture and vesting requirements of the Plan as supplemented by this Participation Agreement, the Executive is a Participant in the Plan and is entitled to a SERP Benefit equal to 50% of Final Annual Salary, as described in Section 4 of the Plan, subject to the applicable reduction factor as set forth in Section 4.8 of the Plan for payments provided before Executive’s Normal Retirement Date.
Benefit Percentage. With respect to each of the first 60 months of Continuous Service, five twelfths of one percent (5/12%); with respect to each of the next 60 months of Continuous Service, one quarter of one percent (1/4%), and with respect to each month of Continuous Service after the first 120 months of Continuous Service, one sixth of one percent (1/6%).
Benefit Percentage. The percentages of payment applicable to Covered Expenses for the various categories of services payable under this Policy are shown in the "SCHEDULE OF BENEFITS". The Benefit Percentages will also be applied to expenses submitted for satisfaction of the Deductible, so that only that portion of the Covered Expenses which would have been payable but for the Deductible will be applied to the satisfaction of the Deductible.
Benefit Percentage shall be equal to 3.89 percentage points (3.89%), multiplied by the Executive’s Years of Service, calculated as of the date of termination of employment. The Benefit Percentage shall not exceed 70%.
Benefit Percentage. With respect to each month of Continuous Service from the Effective Date (as defined in the Employment and Severance Agreement) through the date the Executive attains age 65, a benefit of one-twelfth of 2.8%. The Benefit Percentage shall not increase further once the Executive attains age 65.
Benefit Percentage. After application of the Cash Deductible, the covered expenses listed on the following pages are reimbursed at 100%. Paramedical Care Limits Eligible charges are subject to the following limits: $20 per visit (waived if visit is for surgical procedure) and $400 incurred in any continuous period of 12 months for each category of practitioner per person (20 visits per year). Maximum Benefit Unlimited in respect of each insured person. APPENDIX F DENTAL EXPENSE BENEFIT FOR EMPLOYEES AND DEPENDENTS Covered Items Subject To Cash Deductible Benefit Percentage Provincial Dental Assoc. Code Numbers BASIC BENEFITS Diagnostic and preventive services Restorative services 100% 100% 00001 to 19999 plus 43310 20000 to 23999 Surgical services 100% plus 39930 70000 to 72399 (extractions) General services 100% 90000 to 99999 Endodontic services 100% 30000 to 39999 Periodontic services 100% 40000 to 49999 Extensive surgical services 100% 72400 to 79999 Prosthodontic services 100% 55000 to 59999 (repair) plus 54250 MAJOR BENEFITS Prosthodontic services 80% 50000 to 54999 extensive restorations 80% 24000 to 29999 and 60000 to 69999 Schedule of Fees Current Ontario Dental Association Fee Schedule. Cash Deductible: Cash Deductible applicable to each individual insured hereunder is $25 (subject to an overall family limit of $50). The accumulated period with respect to the Cash Deductible is 12 months on a calendar year basis. Annual Maximum Benefit $2,000 in respect of each insured person as per current plan. APPENDIX G Standard Vehicle – 2001 Chev. Cavalier Location: GTA Operating Standard Costs: Km/litre 11.7 Fuel Cost per Litre Ful & Oil C/Km 78.4 7.2c Maintenance per Kilometre Tire Per Kilometre Taxes Total Operating Costs 2.15c 0.5930c 0.4115c 10.36c Insurance Costs 1472.40 License 90.00 Depreciation and Interest 5893.32 Taxes 957.62 Total Fixed Costs 71.4% of Monthly Reimbursement 8413.34 500.59 Assumptions – Fixed Costs: 36 month lease, 8% interest 32,000 business km (71.4% business usage) LETTERS OF UNDERSTANDING The following letters were agreed to and/or renewed. Letter of Understanding RE: CONTRACTING OUT - Article 3 (Renewed) The following outlines the agreement reached between the Company and the Union with respect to contracting out work.
Benefit Percentage. Prior to the annual out-of-pocket maximum being reached, the percentage of covered drug expenses payable under this benefit will be as follows:
Benefit Percentage. The percentage of a Participant's Final Compensation used to determine the benefit provided in accordance with the Plan.
Benefit Percentage. The percentage of the Eligible Amount used to calculate the Benefit. This amount is indicated by you when the Benefit is applied for.
Benefit Percentage. 1. If the Participant is at the time his or her employment with the Company and its Affiliates terminates, the Chief Executive Officer, the Chairman of the Board or the Chief Financial Officer of the Company, the Benefit Percentage with respect to that Participant shall be determined in accordance with the following chart: Normal Retirement Age* Benefit Percentage 65 60.0% 64 57.6% 63 55.2% 62 52.8% 61 50.4% 60 48.0% 59 45.6% 58 43.2% 57 40.8% 56 38.4% 55 36.0%
