Income Tax Act, Pension Plans and Regulations Sample Clauses

Income Tax Act, Pension Plans and Regulations. The Parties agree that they will make any modifications to this Plan that are necessary in order to comply with the Income Tax Act and the appropriate pension plans legislation and their regulations. It is hereby agreed that Clause 5.01(e) of the Collective Agreement between the Camosun College Board of Governors and the Camosun College Faculty Association shall be administered by an Advanced Placement Review Committee to facilitate overall College-wide consistency and fairness. The CCFA and the College President shall each appoint two (2) members to the Committee. The term of office shall normally be two (2) years with staggered terms to ensure continuity. Initially, some members will be appointed for one (1) year terms by mutual agreement. The Committee will include one (1) Xxxx, one (1) Human Resources Department representative and two (2) CCFA members. Alternates will also be appointed for each committee position by the respective parties. Committee members must represent different schools. Committee members will not adjudicate applications from Faculty Members within their own School; a named alternate member will substitute. Content specialists, mutually agreed to by the applying Faculty Member and the Committee, may be invited to serve on the Committee as non-voting ex-officio members during specific application reviews. The Advanced Placement Review Committee will be the representative body to process all applications from CCFA members related to Clause 5.01(e) of the Collective Agreement and to make recommendations to the appropriate Vice-President. Faculty members will make application to the Committee for advanced placement under the terms of the Committee's guidelines relating to Clause 5.01(e). In reviewing applications, the Committee may meet with the applicants or return the application for clarification, additional information or documentation. The Committee will forward its decision, as recommendations to the appropriate Vice-President who will review the Committee's recommendations and inform each applicant, in writing, of his/her decision. The process of review, inclusive of the decision of the appropriate Vice-President, will occur in response to applications for advanced placement under Clause 5.01(e) at the request of either party. SIGNED ON BEHALF OF: Camosun College Camosun College Faculty Association Xxxxxx Xxxx Xxxx Xxxxx President President Date Date Xxxx Xxxxxxx Xxxxxx Xxxx Executive Director, HR Contract Negotiations Chair Date...
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Income Tax Act, Pension Plans and Regulations. Within 90 days of the signing of this agreement the Parties will submit this Letter of Agreement for review to ensure that it complies with the requirements of the Income Tax Act and the appropriate pension plans legislation and their regulations. The Parties agree that they will make any modifications to this Letter of Agreement that are necessary in order to comply with the Income Tax Act and the appropriate pension plans legislation and their regulations.
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Income Tax Act, Pension Plans and Regulations. The Parties agree that they will make any modifications to this Plan that are necessary in order to comply with the Income Tax Act and the appropriate pension plans legislation and their regulations. Camosun College, Coast Mountain College, College of New Caledonia, College of the Rockies, North Island College, Okanagan College, and Selkirk College. Academic Workers’ Union (FPSE Local 11), Faculty Association of the College of New Caledonia (FPSE Local 3), Camosun College Faculty Association (FPSE Local 12), College of the Rockies Faculty Association (FPSE Local 6), North Island College Faculty Association (FPSE Local 16), Okanagan College Faculty Association (FPSE Local 9), and Selkirk College Faculty Association (FPSE Local 10). Table of Contents 1.1 Purpose of Common Agreement 78 1.2 Future Legislation 78 1.3 Conflict with Policies 78 1.4 Singular and Plural 78 2.1 Statement of Commitment 78 2.2 Definitions 79 2.3 Procedures 79 2.4 Findings 81 2.5 Rights of the Parties 81 2.6 False Complaints, Breaches of Confidentiality and Retaliatory Action 82
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Related to Income Tax Act, Pension Plans and Regulations

  • Code Section 409A Compliance Each payment under this Agreement shall be considered a separate payment for purposes of Section 409A. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amount or benefit upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Internal Revenue Code Section 409A (“Section 409A”) and, for purposes of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this Agreement, if the Executive is a “specified employee” (within the meaning of Section 409A) on the date of the Executive’s separation from service, then any payments or benefits that otherwise would be payable under this Agreement within the first six months following the Executive’s separation from service (the “409A Suspension Period”), shall instead be paid in a lump sum within fourteen (14) days after the end of the sixth month period following the Executive’s separation from service, or Executive’s death, if sooner, but only to the extent that such payments or benefits provide for the “deferral of compensation” within the meaning of Section 409A, after application of the exemptions provided in Sections 1.409A-1(b)(4) and 1.409A-1(b)(9)(ii)-(v) thereof. After the 409A Suspension Period, the Executive will receive any remaining payments and benefits due pursuant to this Agreement in accordance with its terms (as if there had not been any suspension beforehand). To the extent that severance payments or benefits under this Agreement are conditioned on the execution of a release by Executive, Executive shall forfeit all rights to such payments and benefits unless such release is signed and delivered to the Company within the time required by this Agreement. Whenever a payment under this Agreement specified a payment period with respect to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company. The Company will cooperate with the Executive in making any amendments to this Agreement that the Executive reasonably requests to avoid the imposition of taxes or penalties under Section 409A of the Code provided that such changes do not provide the Executive with additional benefits (other than de minimus benefits) under this Agreement.

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