Benefit Protection. The Board shall continue to maintain premium payments of any benefits as per this Agreement, on behalf of a teacher, during the period the teacher is on medical leave of absence and is in receipt of Salary Indemnity Plan - Short Term Benefits, and for a period of twelve (12) calendar months from the effective date of coverage of a teacher on medical leave of absence and in receipt of Salary Indemnity Plan - Long Term Benefits.
Benefit Protection. 22.01 A group term death benefit in the amount of $50,000 will be carried on all teachers. The death benefit will have an accidental death or dismemberment rider and a waiver of premium rider.
Benefit Protection. A. A group term life benefit policy with AD&D in the amount of $40,000 will be provided for full-time permanent, seniority employees. The selection of the benefit carrier shall be made by the Board of Education.
Benefit Protection a. The Board will pay its share of the cost of premiums of each of the plans the teacher was a participant in at the time the absence began, during the period a person is on medical leave of absence and is in receipt of Salary Indemnity Plan Benefits, and for a period of one year when a person is on medical leave and in receipt of benefits from a salary continuance plan.
Benefit Protection. A group term death benefit policy and an Accidental Death and Dismemberment policy shall be provided for all full-time, permanent, seniority employees working five (5) or more hours per day or twenty-five (25) hours or more per week; and for all permanently assigned seniority employees working two (2) to five (5) hours per day or ten (10) hours to twenty-five (25) hours per week. The selection of the benefit carrier will be made by the Employer. Hours: 10 25 $ 20,000 $25,000
Benefit Protection. It is agreed that, or understood, that should any employee group receive benefits/insurance coverage that are greater than those contained herein, the Pilots will automatically receive such benefits or coverage. 108
Benefit Protection. Employees of the Company as of immediately prior to the Closing who continue their employment with the Buyer immediately following the Closing are referred to herein as the “Continuing Employees.” During the period commencing on the Closing Date and ending on December 31, 2021 (the “Benefit Protection Period”) (or such earlier date as the applicable Continuing Employee’s employment terminates for any reason), Buyer shall, or shall cause a Subsidiary (including the Surviving Company) to, provide to each Continuing Employee with: (a) an annual base salary or base wages, as applicable, which is no less than the annual base salary or base wages, as applicable, provided to such Company Employee immediately prior to the First Effective Time; (b) short-term cash-incentive commission opportunities which are made pursuant to a commission plan substantially similar to the Company’s plan providing such cash-incentive commissions to Company Employees immediately prior to the First Effective Time; and (c) employee benefits (excluding equity or equity-based compensation, defined benefit pension or post-retiree medical benefits) in the aggregate which are substantially comparable in the aggregate to the employee benefits (excluding equity or equity-based compensation, defined benefit pension or post-retirement benefits) provided to such Company Employee immediately prior to the First Effective Time. Buyer shall, or shall cause a Subsidiary (including the Surviving Company) to, continue to maintain each medical and pharmaceutical insurance policy which the Company sponsored or maintained immediately prior to the First Effective Time in which the Continuing Employees shall remain eligible to participate and shall not amend the network of providers or benefits provided thereunder, in each case, through the end of the Benefit Protection Period. As soon as practicable following the Closing, Buyer shall provide each Continuing Employee (other than Key Executives) who holds unvested Company Options as of immediately prior to the First Effective Time with an equity award relating to shares of Buyer’s Class A common stock with an aggregate value (based on either Buyer’s most recent Internal Revenue Code Section 409A valuation or the publicly traded price of the Buyer’s Class A common stock, as applicable) that has been agreed upon between the Parties as memorialized in the email dated as of March 27, 2021 at 17:49 p.m. from the Company to Buyer.
Benefit Protection. It is understood and agreed that the following employees are entitled to maintain their current enrolment in the Employers Benefits (as described in Article 23), Sick Leave Benefits (as described in Article 24), Statutory Holidays (as described in Article 21) and Vacation Entitlement (as described in Article 22) while maintaining employment during the term of this Collective Agreement. Should the employee terminate their benefit coverage or request a reduction in their normally scheduled hours they will revert to all of the terms and conditions of the Collective Agreement. Xxxx Xxxxxxx Xxxxxxxx Xxxxxxx Xxx Xxxxxx Xxxxx Villas Xxxx Xxxxxx This Letter of Understanding may not be used as past practise or a precedent in the event that any other seventy-five (75) hours biweekly employee’s hours are reduced (for whatever reason). No other employee may receive benefit protection.
Benefit Protection
