Manner of Payment During Leave. The time and manner of payment to the participant during the leave of absence shall be in installments commencing one month following the start of the leave of absence, being applied equal to one-twelfth of the monies held by the Board for the participant, determined at the beginning of the leave of absence. In no event shall payment be made more frequently than monthly and all of the Deferred Compensation Amount will be paid to the participant no later than the end of the first taxation year of the year that commences after the end of the deferral period.
Appears in 5 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
