Calculating the death benefit Sample Clauses

Calculating the death benefit. Contrary to the provisions of Article 7:674 of the Dutch Civil Code, the amount of death benefit is calculated over the period from the day after the employee’s death up to and including the last day of the second month subsequent to the month in which the death took place.
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Calculating the death benefit. Contrary to the provisions of Article 7:674 of the Dutch Civil Code, the amount of death benefit is calculated over the period from the day after the employee’s death up to and including the last day of the second month subsequent to the month in which the death took place. scheme dated 1 January 2015, corresponding to the scheme the parties to this collective agreement have set out in the ‘Agreement on Voluntary Early Retirement, Pre- pension and Life-Course Savings (VPL) with regard to the Metalektro. The employer must subsequently continuously maintain said arrangements. Said arrangements to be made by the employer must also stipulate that, in the event of personal and collective change of employment within the Metalektro, no loss of conditional additional pension entitlements will occur, however only if and insofar as these entitlements have not yet been acquired (prior to retirement), making them unconditional. This transitional scheme can be financed through payment of a yet-to-be-determined contribution. The employee’s part in this contribution will be no more than 50% of the difference between this contribution and the contribution for Metalektro Pension Fund for the conditional additional pension as last determined in 2020.
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Related to Calculating the death benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

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