INCOME SECURITY PLAN Sample Clauses

INCOME SECURITY PLAN. Section 1. If during the term of this Agreement, the Company notifies the Union in writing that technological change (defined as changes in equipment or methods of operation) has or will create a surplus in any job title in a work location which will necessitate layoffs or involuntary permanent reassignments of regular employees to different job titles involving a reduction in pay or to work locations requiring a change of residence, or if a force surplus necessitating any of the above actions exists for reasons other than technological change and the Company deems it appropriate, regular employees who have at least one (1) year of net credited service may elect, in the order of seniority, and to the extent necessary to relieve the surplus, to leave the service of the Company and receive Income Security Plan (ISP) benefits described in this Article, subject to the following conditions: (a) The Company shall determine the job titles and work locations in which a surplus exists, the number of employees in such titles and locations who are considered to be surplus, and the period during which the employee may, if he or she so elects, leave the service of the Company pursuant to this Article. Neither such determinations by the Company nor any other part of this Article shall be subject to arbitration. (b) The number of employees who may make such election shall not exceed the number of employees determined by the Company to be surplus. (c) An employee’s election to leave the service of the Company and receive ISP payments must be in writing and transmitted to the Company within thirty (30) calendar days from the date of the Company’s offer in order to be effective and it may not be revoked after such thirty (30) calendar day period. (a) For an employee who so elects in accordance with this Article, the Company will pay an ISP Termination Allowance of One Thousand One Hundred Dollars ($1,100.00), less withholding taxes, for each completed year of net credited service up to and including thirty (30) years for a maximum of Thirty-Three Thousand Dollars ($33,000.00) prior to withholding taxes. (b) If the total amount of the ISP Termination Allowance prior to deductions for taxes does not exceed Ten Thousand Dollars ($10,000.00), that allowance shall be paid in a single lump sum within thirty (30) calendar days after the employee has left the service of the Company. (c) Except when (b) above applies, an employee may select one of the following irrevocable payment o...
Sample 1
AutoNDA by SimpleDocs
INCOME SECURITY PLAN. The Company may make Special EISP offers to associates to voluntarily leave the service of the Company with the benefits listed below. The Special EISP offers may be made whenever under the applicable collective bargaining agreement the Company is permitted to offer either an ISP or an EISP, except that each associate may only be offered one Special EISP offer per calendar year unless the associate moves to a different title or to a different location. The Company will not involuntarily assign to a receiving work location any associate on a board and lodging assignment, if at the receiving work location, any associate who normally performed the work assigned left employment within the previous twelve (12) months pursuant to a Special EISP. This limitation does not apply to emergencies.
Sample 1
INCOME SECURITY PLAN. Following your resignation as an Executive Officer effective September 19, 2000 and until your Termination Date, you will be eligible for change in control benefits under the Alliant Income Security Plan.
Sample 1
INCOME SECURITY PLAN. You will continue to be eligible for change in control benefits under the Alliant Income Security Plan until your Termination Date.
Sample 1
INCOME SECURITY PLAN. As of the date hereof, you waive any and -------------------- all right to receive payments and/or benefits under, and release Alliant from any and all obligation to you under, Alliant's Income Security Plan (the "Income Security Plan"), and agree that you shall not be deemed a Participant (as defined in the Income Security Plan) for any purpose.
Sample 1
INCOME SECURITY PLAN. After March 31, 2002, you will not be eligible for benefits under the Amendment and Restatement of Alliant Techsystems Inc. Income Security Plan.
Sample 1
INCOME SECURITY PLAN. (ISP) 1. Frontier Communications Inc. and IBEW Local Union No. 543 recognize the need for technological change in the business and hereby enter into this agreement. In order to lessen the economic impact upon regular employees who become surplus due to technological change, the Company and the Union agree to establish the Income Security Plan (the Plan). “Technological change” shall be defined as a change in plant or equipment, or change in a method of operation, diminishing the total number of regular employees required to supply the same services to the Company or its subscribers. “Technological change” shall not include layoffs or force realignments caused by business conditions, variations in subscribers’ requirements, or temporary or seasonal interruptions of work. When technological change brings about any of the following conditions, the Plan shall apply:
Sample 1
AutoNDA by SimpleDocs

Related to INCOME SECURITY PLAN

  • Security Plan The Business Continuity Plan and the Disaster Recovery Plan may be combined into one document. Additionally, at the beginning of each State Fiscal Year, if the MCO modifies the following documents, it must submit the revised documents and corresponding checklists for HHSC’s review and approval:

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • Service Plan 2.1 The Customer shall use the following applicable Service Plan and services during the Term: a) the Service Plan specified in the Sales and Services Agreement or a service plan with monthly fee above the Service Plan amount specified in the Sales and Agreement (not applicable to SIM Only service plan & SuperCare Unbundled Smartphone Plan); and any of the services (“Selected Services”) specified in the Company’s web site “Terms and Conditions” relating to this offer and the aggregate monthly fee (after deduction of any rebate) of such Selected Services is equal to or above the amount specified in the Sales and Services Agreement (if applicable); or b) A Service Plan within the “iPhone SuperCare Smartphone Plans” (applicable to upgrade to a higher monthly fee during the Term) as specified in the Company’s web site “Terms and Conditions” relating to this plan group. 2.2 Service Plan with specified data usage 2.2.1 Whenever the local data usage of the Customer under the relevant Service Plan nearly reaches the specified local data usage (“Specified Data Usage”) the Company will notify the Customer by SMS. The Customer may by return SMS purchase a top-up at the charge as specified in the SMS received (“Top Up”). If the Customer does not wish to purchase the Top Up, local data service under the relevant Service Plan will be automatically suspended when the data usage has reached the Specified Data Usage. The Customer may purchase the Top Up at that time or wait until the beginning of the next bill month for the new Specified Data Usage allowance under the relevant Service Plan. Any unused top-up local mobile data can be carried forward for free and can be used before the end of the next bill month. This is only applicable to designated service plans (1GB or above) with an “Advise & Consent” mechanism for the purchase of top-up data. 2.2.2 Where the Customer has registered more than one Service Plan in an Account, the Company will notify Customer's primary service number (i.e. the first registered service number) by SMS whenever a Top Up is confirmed. 2.3 Applicable to Customer who stacks a new iPhone Contract： 2.3.1 Under Term (i.e. outstanding months under unexpired Previous Contract Term + iPhone Contract Term), the monthly fee and entitlement of new iPhone Contract takes effect immediately and will apply until the expiration of the new iPhone Contract. 2.3.2 If Customer has an existing contract of FUP Unlimited Data Plan stacks a new iPhone Contract, Customer is required to sign a new contract for FUP Unlimited Data Plan. The monthly fee of new FUP Unlimited Data Plan specified in the Sales and Services Agreement takes effect simultaneously when the new iPhone Contract commences and will apply until the expiration of the Term. 2.3.3 (If applicable) If the Customer has a Multi-SIM Plan under an unexpired Previous Contract Term stacks a new iPhone Contract, the monthly fee and service entitlement under the unexpired Previous Contract Term will be superseded and replaced by the monthly fee and service entitlement of the prevailing Multi-SIM Plan at the time of the stacking of the new iPhone Contract (“New Multi-SIM Plan”). The New Multi-SIM Plan shall take effect simultaneously when the new iPhone Contract commences and will apply until the expiration of the Previous Contract Term of the Multi-SIM Plan. 2.4 This Service Plan is charged on a monthly basis. The monthly charges for the first month will be charged on a pro-rata basis from the service effective date to the first bill date. The monthly charges are payable in advance and non-refundable under whatever circumstances. 2.5 This Service Plan is not applicable to 2G phones / connected devices or any phones / connected devices which have manually opted for 2G network. However, if customers opt for FUP unlimited data, in addition to the above conditions, the plan will also not applicable to other connected devices (including but not limited to USB modem / pocket wi-fi / TV box). 2.6 Offer detail Credit offer Credit Amount Wi-Fi Service Plan* full credit back during the Term WiFi Service monthly fee $60 *Customer is required to register for WiFi service 2.7 If the Customer does not notify the Company of termination of the WiFi services specified above prior to the expiry of the Term, the Company shall automatically charge the Customer for the free services specified above at the prevailing monthly fee after the expiry of the Term. 2.8 The Customer shall use Credit Card auto pay to settle monthly fee during the Term. If the Customer does not settle his monthly payment by credit card autopay or uses a 3rd party credit card for payment, a prepayment is required (if applicable).

  • Flexible Benefit Plan The District will maintain, at no cost to the employee, a flexible spending benefit plan pursuant to Section 125 of the Internal Revenue Code, with operating procedures determined by the District in accordance with IRS regulations. This plan may be used for favorable income tax treatment of the employee’s health and dental premium contributions, deductibles, co-insurance amounts, other unreimbursed medical expenses, and dependent care assistance.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • Equity Plan For purposes of this Agreement, “Equity Plan” means the CS Disco, Inc. 2021 Equity Incentive Plan, as amended from time to time, or any successor plan thereto.

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the following incentive plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year. The threshold referred to in the immediately preceding sentence shall hereinafter be referred to as the “Annual Net Income Threshold.” For all purposes of this Employment Agreement, “Company Net Income” shall mean the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).

  • Group Insurance Plan The carriers, coverage, and terms and conditions of participation under the District’s Group Insurance Plan are subject to change in accordance with the applicable provisions of Title I, Division 4, Chapter 10 of the California Government Code (Section 3500 et seq.) (Xxxxxx‐Milias‐Xxxxx Act). a. The District contracts with CalPERS for health plan coverage for all regular and newly hired employees (eligibility to be defined by the “CalPERS health plan”). Booklets on the insurance plans will be available to all participants. b. Employees may choose from the available plans offered by CalPERS. Additional premiums will be borne by the employee through payroll deductions and paid to CalPERS by the District each month; and the additional cost for monthly premiums will be deducted evenly from the first and second payroll period of each month. To the extent allowed by law, the District will attempt to deduct the employee’s premium contribution from pre‐tax dollars.

  • Uniform Commercial Code Security Agreement (a) This Instrument is also a security agreement under the Uniform Commercial Code for any of the Mortgaged Property which, under applicable law, may be subjected to a security interest under the Uniform Commercial Code, whether such Mortgaged Property is owned now or acquired in the future, and all products and cash and non-cash proceeds thereof (collectively, "UCC Collateral"), and Borrower hereby grants to Lender a security interest in the UCC Collateral. Borrower hereby authorizes Lender to prepare and file financing statements, continuation statements and financing statement amendments in such form as Lender may require to perfect or continue the perfection of this security interest and Borrower agrees, if Lender so requests, to execute and deliver to Lender such financing statements, continuation statements and amendments. Borrower shall pay all filing costs and all costs and expenses of any record searches for financing statements and/or amendments that Lender may require. Without the prior written consent of Lender, Borrower shall not create or permit to exist any other lien or security interest in any of the UCC Collateral. (b) Unless Borrower gives Notice to Lender within 30 days after the occurrence of any of the following, and executes and delivers to Lender modifications or supplements of this Instrument (and any financing statement which may be filed in connection with this Instrument) as Lender may require, Borrower shall not (i) change its name, identity, structure or jurisdiction of organization; (ii) change the location of its place of business (or chief executive office if more than one place of business); or (iii) add to or change any location at which any of the Mortgaged Property is stored, held or located. (c) If an Event of Default has occurred and is continuing, Lender shall have the remedies of a secured party under the Uniform Commercial Code, in addition to all remedies provided by this Instrument or existing under applicable law. In exercising any remedies, Lender may exercise its remedies against the UCC Collateral separately or together, and in any order, without in any way affecting the availability of Lender's other remedies. (d) This Instrument constitutes a financing statement with respect to any part of the Mortgaged Property that is or may become a Fixture, if permitted by applicable law.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!