Definition of Benefit Sample Clauses

Definition of Benefit. Teachers will be eligible to cash in one (1) day of sick leave, calculated at the daily rate of pay at the time the teacher requests reimbursement, to reimburse for the costs of eligible wellness-related expenses. To qualify for the wellness incentive, teachers must have a sick leave balance based on the following table, as of June 30th each year: Years of Service Sick Leave Balance 0 – 1 year 40 hours (5 days) 2 years 80 hours (10 days) 3 years 120 hours (15 days) 4 years 160 hours (20 days) 5 years 200 hours (25 days) 6-10 years 360 hours (45 days) 11-15 years 560 hours (70 days) 16-20 years 760 hours (95 days) 21+ years 840 hours (105 days)
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Definition of Benefit. The expense allowance and reimbursement of expenses provided for in Section 3.2, the benefits provided for in this Section 3.3 and any other benefits hereafter granted to Employee by the Employer are herein referred to as the "Benefits."
Definition of Benefit. Eligible Dependent includes a unit member’s legal spouse, registered domestic partner, and children to age 26. Children are defined as, natural children, adopted children and stepchildren. Fully disabled children over age 26 who are incapable of self-sustaining employment by reason of mental or physical handicap and chiefly dependent on employee for economic support.
Definition of Benefit. Major Medical Expense Benefits is an extension of basic hospital benefits provided under the Hospital Care Benefit of the Ontario Health Insurance Plan, Ambulance Expense Benefit, and the Industrial Alliance Semi-Private Supplementary Hospital and Green Shield Prescription Drug Plans to cover substantial expenses for serious illness or injuries. Benefits are also payable for many other expenses for which no benefits are payable under the basic medical plans described elsewhere in this Group Insurance and Health Care Benefits booklet. If you or your dependents incur Eligible Medical Expenses in excess of "Basic Benefits" and a deductible of $35 single and $60 family in any calendar year, the Major Medical plan pays 80% of the excess. Notwithstanding any other provision or term of this Group Insurance and Health Care Benefits booklet, an employee will be reimbursed for 100% of all eligible Major Medical expenses incurred while the employee is travelling out of the employee's province of residence in fulfilment of the employee's duties. Effective July 1, 2006, the maximum benefit for all Eligible Medical Expenses for each eligible individual during his lifetime is $35,000. Provision is made for an annual automatic restoration of benefits not to exceed $1,000. Benefits are not payable in respect to an accident or illness for which the employee is entitled to care or compensation from the Workplace Safety and Insurance Board. An international medical organization will provide special Travel Assistance to facilitate claim payments and funds transfers when an out-of- province medical emergency occurs. Under such circumstances, the organization may guarantee the provider (hospital, clinic or physician) that the patient has both Ontario Health Insurance Plan and private health care benefits.
Definition of Benefit. Teachers will be eligible to cash in one (1) day of sick leave, calculated at the daily rate of pay at the time the teacher requests reimbursement, to reimburse for the costs of eligible wellness-related expenses. To qualify for the wellness incentive, teachers must have a sick leave balance based on the following table, as of June 30th each year: Years of Service Sick Leave Balance 0 – 1 year 40 hours (5 days) 2 years 80 hours (10 days) 3 years 120 hours (15 days) 4 years 160 hours (20 days) 5 years 200 hours (25 days) 6-10 years 360 hours (45 days) 11-15 years 560 hours (70 days) 16-20 years 760 hours (95 days) 21+ years 840 hours (105 days) Eligible Expenses for Reimbursement. The following wellness-related expenses are eligible for reimbursement by cashing in one (1) sick leave day: Health club memberships (single, dual, or family) provided the teacher is included in the membership. Reimbursement would be made at the end of the fiscal year when the membership was active. Exercise equipment, new or used, including but not limited to outdoor or stationary bicycles, snow shoes and bindings, treadmills, stair climbers, rowing machines, skiing machines, home gym equipment, hockey/ice skates, personal trainers, skis (including poles, mountings and bindings,) sales tax on equipment, weights, exercise balls, inline skates, protective gear, etc. Exercise classes. Behavior modification programs (e.g. smoking, diet, etc.)
Definition of Benefit. The Employer agrees to provide the following benefit. It is understood that this provision provides for costs of business transportation. To the extent lawful, this is not considered wages and therefore no retirement will be paid nor shall employment taxes be withheld on the allowance set forth below. Although the Employers and the USU consider this to be a reasonable approach for an accountable plan for business transportation, the IRS may not, and it may create a tax liability. Should the IRS hereafter determine that such a tax liability exists, as a result of the operation of the provisions of the Collective Bargaining Agreement; Employees agree to pay the tax liability that would have been and is theirs to pay. Employees authorize the Employer to withhold from salary over a six (6) month period, any amount of taxes they pay on the Employees’ behalf. If not still employed, the previous Employee will immediately reimburse the Employer, and in the event the Employee does not reimburse, the Employer has a right to collect the taxes paid on the Employees' behalf and reasonable legal fees necessary to collect the money from the Employee. Employees are not agreeing to pay any fines or penalties entered against the Employer due to their failure to withhold taxes from salary. They are agreeing to pay the tax amount which the IRS may in the future determine should have been their responsibility. In order to provide Employees with ground transportation for business purposes, the Employer agrees to provide the following:

Related to Definition of Benefit

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company or any of its direct and/or indirect subsidiaries to or for the benefit of Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 18) (such benefits, payments or distributions are hereinafter referred to as “Payments”) would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then, prior to the making of any Payments to Employee, a calculation shall be made comparing (i) the net after-tax benefit to Employee of the Payments after payment by Employee of the Excise Tax, to (ii) the net after-tax benefit to Employee if the Payments had been limited to the extent necessary to avoid being subject to the Excise Tax. If the amount calculated under (i) above is less than the amount calculated under (ii) above, then the Payments shall be limited to the extent necessary to avoid being subject to the Excise Tax (the “Reduced Amount”). The reduction of the Payments due hereunder, if applicable, shall be made by first reducing cash Payments and then, to the extent necessary, reducing those Payments having the next highest ratio of Parachute Value to actual present value of such Payments as of the date of the change of control, as determined by the Determination Firm (as defined in Section 18(b) below). For purposes of this Section 18, present value shall be determined in accordance with Section 280G(d)(4) of the Code. For purposes of this Section 18, the “Parachute Value” of a Payment means the present value as of the date of the change of control of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Determination Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment.

  • 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.

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