Loss of Benefit Sample Clauses

Loss of Benefit. The principal/assistant principal must contribute to deferred compensation election during the eligible period/Agreement year or he/she loses the benefit of the District matching dollars for that year.
Sample 1Sample 2Sample 3See All (5)
Loss of Benefit. The IAA principal or administrative xxxx must contribute to deferred compensation election during the eligible period/Agreement year or he/she loses the benefit of the District matching dollars for that Agreement year.
Sample 1Sample 2Sample 3
Loss of Benefit. Notwithstanding the provisions of Section 5.1, the Participant will lose his or her Vested Insurance Benefit if: (1) the Participant is Terminated for Cause; (2) the Participant violates the non-competition provisions described in Article 8; (3) the Participant commits suicide within two years of the date of this Agreement, (4) the Participant has made any material misstatement of fact on any application for life insurance purchased by the Company; or (5) in the case of a Disabled Participant, if such Participant becomes gainfully employed by an entity other than the Company.
Sample 1Sample 2
Loss of Benefit. The administrative xxxx must contribute to deferred compensation election during the eligible period/Agreement year or he/she loses the benefit of the District matching dollars for that Agreement year.
Sample 1Sample 2
Loss of Benefit. Neither the execution nor the performance of this Agreement will: (i) To the Knowledge of Xxxxxx, cause Xxxxxx to lose the benefit of any asset, right or privilege which it currently enjoys or cause any person who normally does business with Xxxxxx to be entitled not to continue to do so on the same basis as previously; or (ii) relieve any person of any obligation to Creagh or enable any person to determine any such obligation or any right or benefit enjoyed by Creagh or to exercise any other right whether under any agreement with or otherwise in respect of Xxxxxx; or (iii) result in the loss or impairment of, or any default under, any licence, authorisation or consent required by Xxxxxx for the purposes of its business; or (iv) result in any present indebtedness of Xxxxxx becoming due or capable of being declared due and payable prior to its stated maturity date or cause any loan facility to be terminated or withdrawn; or (v) result in the creation, imposition, crystallisation or enforcement of any encumbrance on any of the assets of Xxxxxx; or (vi) result in any Key Employee leaving Xxxxxx.
Sample 1

Related to Loss of Benefit

  • Loss of Benefits Employees who are separated from the service by a discharge under other than honorable conditions, bad conduct, or dishonorable discharge shall not be entitled to any of the benefits of Section 3 through Section 9 of the Article (relating to military leaves without pay) except such vested rights as they may have acquired thereto by virtue of payments made into their retirement accounts.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • 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.

  • 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.

  • 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.