Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.
Standard Company Benefits Executive shall be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time.
Vacation Pay Paid Union leaves. All other payments, premiums, allowances etc. are excluded.
Separation Pay (a) A core employee shall be entitled to separation pay as set out in subsection “c” provided they have not been excluded by subsection “b” and provided they meet any of the following eligibility provisions: (i) if they are terminated for a reason other than set out in subsection “b”. (ii) if they are laid off and on any date during their layoff the hours scheduled for them during the previous twelve (12) consecutive months were less than fifty (50%) percent of normal full-time hours provided they are not eligible for any Company or Government pension or for benefits under the Company’s insured Weekly Indemnity or Long Term Disability Plans; (iii) in special cases where a laid off employee appear to have little prospect of recall to regular work within a period of six months they may request immediate termination and separation pay, and with the concurrence of the Company and the Union this may be granted notwithstanding the eligibility clause in (ii) above; (iv) if they are ultimately designated for indefinite layoff as a result of a major technological change as provided in Section 10.10. An employee eligible for a separation payment hereunder must apply for it not later than six months after they first become eligible therefore, otherwise their right to such payment shall be cancelled. Notwithstanding the above if the Company permanently discontinues an operation, an employee laid off as a result thereof must apply for and shall receive any separation pay to which they are entitled without waiting the six month period. Operation will be interpreted as meaning: 1. plant, branch or warehouse 2. department or part department in which ten (10) or more employees are permanently laid off. (b) Notwithstanding subsection “a”, an employee shall be excluded from separation pay eligibility if: (i) They quit; (ii) They are terminated for just cause; (iii) They are terminated under Section 5.03 (loss of seniority provision) of this Collective Agreement. (iv) They have been terminated because of specific direction or decree from any Government authority which has the effect of curtailing any of the Company’s operations; unless (1) the direction or decree is the result of an illegal act committed by the Company or one of its representatives, or (2) the direction or decree purports to change the method of beer retailing within the Province; (v) They have been laid off because of any act of war or the hostile act of any foreign power or by any act of sabotage or insurrection or by any act of God; (vi) They are laid off and have arranged with the Company to take leave of absence without pay for a specific period in lieu of their layoff; (vii) They are in receipt of income replacement benefits under the Weekly Indemnity or Long Term Disability Plans or the Workers Compensation Act; (viii) the employee is entitled to receive full pension under the Company or Government Pension Plan. At no time will the number of weeks of separation pay exceed the number of weeks to an employee’s normal retirement date (NRD as of June 1st, 2014 age 65) and/or the date the employee has announced as their retirement date. (c) The amount of the separation payment of an eligible employee shall be equal to: (i) one week’s base earnings (computed on the basis of their hourly rate in effect as of time of layoff) multiplied by the number of their completed years of seniority (as used for vacation entitlement) as of the last day they actively worked in the Bargaining Unit, plus (ii) for employees classified as probationary or core employees prior to July 22, 1988, an additional three hundred and seventy-five ($375.00) dollars multiplied by their completed years of seniority used in (i) above to a maximum of 15 years. However, such eligible employee who applies for separation pay at the time they first becomes eligible therefore shall have their separation pay under this part (ii) calculated as seven hundred and fifty ($750.00) dollars multiplied by their completed years of seniority used in (i) above to a maximum of 15 years. If there is a permanent closure of the complete operations of B.D.L. the 15 year maximum is replaced with a 22 year maximum. (d) If an employee applies for and accepts a separation payment hereunder, their employment is terminated and their seniority and other rights under the Collective Bargaining Agreement are cancelled.
Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.
Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.
Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.
Compensation and Benefit Plans During the period from the date of this Agreement and continuing until the Effective Time, XM agrees as to itself and its Subsidiaries that, except as set forth in Section 4.1(k) of the XM Disclosure Schedule, it will not: (i) other than in the ordinary course of business consistent with past practice, enter into, adopt, amend (except for such amendments as may be required by law) or terminate any XM Benefit Plan, (ii) except as required by any XM Benefit Plan as in effect as of the date hereof and except for normal payments, awards and increases in the ordinary course of business consistent with past practice, increase in any manner the compensation or fringe benefits of any director, officer, employee, independent contractor or consultant or pay any benefit not required by any XM Benefit Plan as in effect as of the date hereof or enter into any contract, agreement, commitment or arrangement to do any of the foregoing, (iii) enter into or renew any contract, agreement, commitment or arrangement (other than a renewal occurring in accordance with the terms of an XM Benefit Plan) providing for the payment to any director, officer, employee, independent contractor or consultant of compensation or benefits contingent, or the terms of which are materially altered, upon the occurrence of any of the transactions contemplated by this Agreement, or (iv) provide, with respect to the grant of any stock option, restricted stock, restricted stock unit or other equity-related award on or after the date hereof to the extent permitted by Section 4.1(c), that the vesting of any such stock option, restricted stock, restricted stock unit or other equity-related award shall accelerate or otherwise be affected by the occurrence of any of the transactions contemplated by this Agreement.
Travel Compensation The Contractor shall not be compensated or reimbursed for travel time, travel expenses, meals, or lodging.
Severance Pay Notwithstanding the provisions of Article 62 (Severance Pay) of this Agreement, where the period of continuous employment in respect of which severance benefit is to be paid consists of both full and part-time employment or varying levels of part-time employment, the benefit shall be calculated as follows: the period of continuous employment eligible for severance pay shall be established and the part-time portions shall be consolidated to equivalent full-time. The equivalent full-time period in years shall be multiplied by the full-time weekly pay rate for the appropriate group and level to produce the severance pay benefit.
