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: 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 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: 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. 1. All UniServ Directors, as a result of their assignment, automatically qualify for a BGTA allowance below. 2. All Professional Employees who do not qualify for BGTA allowance shall receive mileage at the rate as indexed in 23.02 below. Effective 1/1/2008 this is $0.723. 3. Employees receiving the mileage reimbursement above, who are covered by this article, may qualify for an allowance as follows: Initial Qualification Period: Professional staff members who have driven at least fourteen thousand (14,000) business miles (IRS definition) in the period December 2007November 2009 shall be eligible for a BGTA allowance beginning January 1, 2010 and ending December 31, 2011. Re-qualification Period: Professional staff members who have driven at least fourteen thousand (14,000) business miles (IRS definition) in the succeeding two-year periods ending the November 30th of the odd year shall be provided an allowance. Professional staff members who fail to re- qualify shall revert to the mileage rate described in paragraph 2 above in the January following the qualification or re-qualification period. 4. Employees eligible for an allowance may choose (between 8/15 and 8/31 of each year) to receive mileage or a BGTA allowance. 5. An Employee who is eligible for an allowance may choose mileage. However, mileage reimbursement may not exceed the amount of the allowance for which he/she would have been eligible. 6. New employees, except for UniServ Directors, shall receive BGTA or mileage based on the experience of the prior employee in that position. For new positions, except for UniServ Directors, if the employee is expected to travel, then the employee will receive BGTA until the end of the qualifying period, and then a re-qualification shall be based on a pro-ration. 7. In order to be eligible to receive mileage or an allowance, Employees must file a completed UEA mileage report form and other necessary documents (proof of insurance, lease, etc.) with WEAC. WEAC will continue to compute the value of an allowance for tax purposes. Employees must submit this form by the 15th day of each month to be eligible for the following month’s allowance. For example, if an Emplo...

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. (b) All determinations required to be made under this Section 18, including whether an Excise Tax would otherwise be imposed, whether the Payments shall be reduced, the amount of the Reduced Amount, and the assumptions to be used in arriving at such determinations, shall be made by an independent, nationally recognized accounting firm or compensation consulting firm mutually acceptable to the Company and Employee (the “Determination Firm”) which shall provide detailed supporting calculations both to the Company and Employee. All fees and expenses of the Determination Firm shall be borne solely by the Company. Any determination by the Determination Firm shall be binding upon the Company and Employee. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Determination Firm hereunder, it is possible that Payments hereunder will have been unnecessarily limited by this Section 18 (“Underpayment”), consistent with the calculations required to be made hereunder. The Determination Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of Employee, but no later than March 15 of the year after the year in which the Underpayment is determined to exist, which is when the legally binding right to such Underpayment arises.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • No Duplication of Benefits For the avoidance of doubt, in no event will Executive be entitled to benefits under Section 4.4.3(i) and Section 4.4.3(ii). If Executive commences to receive benefits under Section 4.4.3(i) due to a qualifying termination prior to a Change in Control and thereafter becomes entitled to benefits under Section 4.4.3(ii), any benefits previously provided to Executive under Section 4.4.3(i) shall offset the benefits to be provided to Executive under Section 4.4.3(ii) and shall be deemed to have been provided to Executive pursuant to Section 4.4.3(ii).

  • 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.

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates: 1.09.01 the date the member is no longer disabled from performing the duties of their regular position, or any alternative employment made available to the member by the City. 1.09.02 the date the member's Income Protection benefits have been expended. 1.09.03 the date the member dies.

  • Duplication of Benefits Grantee shall not carry out any of the activities under this Agreement in a manner that results in a prohibited duplication of benefits as defined by Section 312 of the Xxxxxx X. Xxxxxxxx Disaster Relief and Emergency Assistance Act (42 U.S.C. 5155) and in accordance with Section 1210 of the Disaster Recovery Reform Act of 2018 (division D of Public Law 115-254; 132 Stat. 3442), which amended section 312 of the Xxxxxx X. Xxxxxxxx Disaster Relief and Emergency Assistance Act (42 U.S.C. 5155). In consideration of Grantee’s receipt or the commitment of CRF funds by Florida Housing, Grantee hereby assigns to Florida Housing all of Grantee’s future rights to reimbursement and all payments received from any grant, subsidized loan or any other reimbursement or relief program related to the basis of the calculation of the portion of the funds committed to the Grantee under this Agreement and determined to be a Duplication of Benefits (DOB). Any such funds received by the Grantee shall be referred to herein as “additional funds.” Grantee agrees to immediately notify Florida Housing of the source and receipt of additional funds received by the Grantee that are determined to be a DOB. Grantee agrees to reimburse Florida Housing for any additional funds received by Grantee if such additional funds are determined to be a DOB by Florida Housing, the Federal awarding agency or an auditing agency.

  • Cessation of Benefits An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates: (a) at the end of the month in which the employee reaches his/her sixty-fifth (65th) birthday; (b) on the date of commencement of paid absence prior to retirement; (c) on the date of termination of employment with the Employer. Benefits will not be paid when an employee is serving a prison sentence. Cessation of active employment as a regular employee shall be considered termination of employment except when an employee is on authorized leave of absence with or without pay.

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