Deferral Benefits Sample Clauses

Deferral Benefits. (a) In the years or semesters preceding the year or semester leave, a teacher will be paid an appropriate portion of his/her grid salary and any applicable allowances as per section The remaining amount shall be retained by the Board to be paid to the teacher in the year or semes- ter of the leave, in accordance with para- graph a teacher is enrolled in the plan and not on leave, the proportionate increase in coverage for Long Term Disability and Life Insurance benefits shall be maintained at of salary at the teacher’s expense. The portion of salary that is held back in the deferred salary leave plan shall be placed in an account with a chartered Canadian bank (acting as agent). Throughout the teacher’s participation in a deferred salary leave plan, the control of the account shall be vested solely in the Board on behalf of the participant as herein set out. While a teacher is enrolled in a deferred salary leave plan, the Board shall, on the following dates, pay to the teacher the interest earned on his/her account: the last pay day in December as pre- scribed in the Teachers’ Collective Agreement; and
Sample 1
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Deferral Benefits. As stated herein, if the Executive should suffer a Termination of Service pursuant to this Subparagraph II (D), the Executive shall be entitled to Deferral Benefits as set forth in Paragraph III, and said benefits shall be payable within thirty (30) days from the date of said Termination of Service.
Sample 1
Deferral Benefits. Executive and the Company acknowledge that Executive has previously elected to defer compensation pursuant to one or more Participation Agreements under the Deferral Plan. Consistent with these elections and Executive's timely execution of this Agreement under paragraph 21, and to the extent permitted by the Deferral Plan, on January 31, 1997, the Company shall credit Executive's account under the Deferral Plan with an amount up to, but not to exceed, the total of his unfulfilled deferral commitments under those Participation Agreements. For purposes of this paragraph, unfulfilled deferral commitments of Executive's Value Share Plan award for 1996 shall be equivalent to the amount of the 1995 deferral commitment for the Value Share Plan. The amount to be deferred shall include payments under paragraphs 2 and 6 and an amount up to the total lump sum value of Executive's special supplementary benefit under the Lyondell SERP, as determined in accordance with paragraph 3. The amount of any special supplementary benefit in excess of the amount credited to Executive's account under the Deferral Plan, if any, shall be paid to Executive in the same form of payment Executive has elected for payment of his general benefit payment from the Lyondell SERP. Executive understands that if this Agreement is not executed in a timely basis, in accordance with paragraph 21, the Company may be unable to credit these sums to Executive's account under the Deferral Plan and they will be paid to him directly after the Effective Date. Executive's outstanding deferrals shall be subject to the Designation of Distribution Options which he has made for those deferrals regarding the time and form of payment of his deferred compensation.
Sample 1
Deferral Benefits 
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Related to Deferral Benefits

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Plan Benefits Each year, prior to the annual enrollment period, EMPLOYEES will receive Enrollment information that will outline the benefits offered next calendar year. Information relative to specific health insurance benefits and limitations will be updated regularly and contained in the SPD. In the event there is a conflict between the provisions of the collective bargaining agreement and the SPD, the District's SPD shall control.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

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