Annual Credit. A permanent full-time or permanent part-time employee who has completed thirteen (13) pay periods of County service shall be credited with personal leave hours based on the percentage of time of the position allocation up to a maximum of thirty (30) hours. For example: 5/5 (40 hours per week) will receive 30 hours 4/5 (32 hours per week) will receive 24 hours ½ (20 hours per week) will receive 15 hours 2/5 (16 hours per week) will receive 12 hours Such hours shall be credited on the first pay period following completion of required service, and annually thereafter on the first day of pay period which includes January 1st.
Annual Credit. Schedule A sets forth the Participant’s Annual Credits to be made at the end of each of the first ten (10) Plan Years commencing with the Plan Year that ends on December 31, 2018. The Company will, on the last day of each such Plan Year, credit the Participant’s SERP Account with the Participant's Annual Credit only: (a) if the Participant is employed as of the last day of the Plan Year by the Company, and (b) if such employment is as the Company’s President. Notwithstanding the foregoing, after a Change in Control that occurs while the Participant is employed by the Company as its President, the Company: (a) will continue to credit the Participant's SERP Account with uncredited Annual Credits in accordance with Schedule A if the Participant is employed as of the last day of each relevant Plan Year by the Company or its Affiliates, and (b) will credit the Participant’s SERP Account with all of the uncredited (as of a Separation from Service described below) Annual Credits that are set forth in Schedule A if the Participant incurs (after such Change in Control) either: (i) an involuntary Separation from Service without Cause, or (ii) a voluntary Separation from Service with Good Reason.
Annual Credit. Schedule A sets forth the Participant’s Annual Credits to be made at the end of each of the Twenty-One (21) Plan Years commencing with the Plan Year that ends on December 31, 2024. The Company will, on the last day of each such Plan Year, credit the Participant’s SERP Account with the Participant's Annual Credit only: (a) if the Participant is employed as of the last day of the Plan Year by the Company, and (b) if such employment is as the Company’s Chief Financial Officer. Notwithstanding the foregoing, after a Change in Control that occurs while the Participant is employed by the Company as its Chief Financial Officer, the Company: (a) will continue to credit the Participant's SERP Account with uncredited Annual Credits in accordance with Schedule A if the Participant is employed as of the last day of each relevant Plan Year by the Company or its Affiliates, and (b) will credit the Participant’s SERP Account with all of the uncredited (as of a Separation from Service described below) Annual Credits that are set forth in Schedule A if the Participant incurs (after such Change in Control) either: (i) an involuntary Separation from Service without Cause, or (ii) a voluntary Separation from Service with Good Reason.
Annual Credit. A permanent full-time employee will be credited with management leave of up to forty-eight (48) hours per calendar year as per Section 8.2. Thereafter, forty-eight (48) hours per calendar year credited on the first day of the calendar year for every year thereafter.
Annual Credit. Sick and emergency leave shall be credited annually to each unit member as follows:
A. Twelve (12) days for employees working at least forty-eight (48) weeks during a fiscal year.
B. Part-time employees who regularly work twenty (20) or more hours per week for at least forty-eight (48) weeks during the fiscal year shall be credited with a prorated amount of sick and emergency leave time calculated by using their Benefit Eligibility Factor (See Article 19, Section 2).
Annual Credit. APG will repay the Payment by applying a credit to current and future commercial and samples Product orders and any future development work for Connetics at the rate of [*] (the "Annual Credit"), subject to acceleration as provided for in this Agreement. The Annual Credit will be applied each year as a [*] of Product orders and/or development work. The first Annual Credit, unless otherwise accelerated, shall be applied to all then-open and future Product orders and/or development work starting on the date that APG gets loan funding on the New Loan. All subsequent Annual Credits, unless otherwise accelerated, shall be applied to all open and future Product orders and/or development work each year starting on the anniversary date of this Agreement until fully credited to Connetics.
Annual Credit. (a) In accordance with and pursuant to Section 12-44-70 of the Act and Section 4-1- 175 of the MCIP Law, in order to reimburse the Company and the Sponsor Affiliate for qualifying capital expenditures incurred for costs of the Infrastructure Improvements, the Company and the Sponsor Affiliate shall be entitled to receive, and the County agrees to provide, total Annual Credits against the Payments-in-Lieu-of-Taxes due hereunder in the amounts provided for in Section 5.4(d) of this Agreement (“Annual Credits”).
(b) Unless otherwise specifically requested in writing by the Company and approved by the Sponsor Affiliate, the dollar amount of the Annual Credit shall be applied in its entirety against Payments-in-Lieu-of-Taxes to be made for the year in question on the real property portion of the Project, and not to any personal property, including any machinery or equipment. Pursuant to Section 4-29-68(A)(2)(ii)(a) of the Code, to the extent any Annual Credits shall be applied against both real property and personal property, including machinery and equipment investments by the Company, then for Annual Credit purposes, such credits will be presumed to be first used for real property, unless otherwise directed in writing by the Company. Pursuant to Section 4-29-68(A)(2)(ii) of the Code, to the extent any Annual Credits are applied against personal property, including machinery and equipment, and the personal property is removed from the Project at any time prior to the termination date of this Fee Agreement, then the amount of Payments-in-Lieu-of-Taxes due on such personal property for the year of such removal shall also be due for the two (2) years following the removal; provided, that if such removed personal property is replaced with Replacement Property, then such personal property shall not be considered removed from the Project for these purposes.
(c) In no event shall the aggregate amount of Annual Credits received or otherwise entitled to be received by the Company and the Sponsor Affiliate exceed, at any point in time, the aggregate amount of expenditures incurred by the Company and the Sponsor Affiliate in respect of the Infrastructure Improvements. Upon request of the County, the Company shall provide documentation reflecting the cost of the Infrastructure Improvements.
(d) Each Annual Credit shall be reflected by the County Auditor or other authorized County official or representative on each xxxx for Payments-in-Lieu-of-Taxes sent to the Company by ...
Annual Credit. Sick and emergency leave shall be credited annually to each employee as follows:
Annual Credit. For employees hired prior to April 1, 1998, sick leave (short term) shall be given as an annual (April 1 – March 31) credit of fifteen (15) days, and unused days shall be accumulated from year to year. For employees hired after April 1, 1998, sick leave (short term) shall be given as an annual (April 1 – March 31) credit of fifteen (15) days and unused days shall be accumulated from year to year to a maximum of thirty (30) days.
Annual Credit. Sick leave (short term) shall be given as an annual (April 1-March 31) credit of twelve (12) days. Unused days to a maximum of two (2) days may be carried over from year to year to a maximum of 14 sick days in any given year.