Monetary Benefit. Teachers employed by the SECPSD will have the opportunity to earn a monetary benefit in lieu of EDO’s through the following ways: i) For every one (1) hour of noon hour supervision teachers will earn not less than $18/hr. and/or ii) For every twenty (20) hours of extracurricular activity (ECA) a payout of 50 percent of the teacher’s day rate on the Provincial Grid to a maximum of 200 hours. All monetary benefits will be paid out no later than August 25.

Monetary Benefit. Teachers who choose a monetary benefit in lieu of Supervisory Leave Days shall be compensated in the following ways:  For each supervised lunch period, a teacher shall receive $20.00 prorated for the amount of time spent supervising students.  The Principal shall submit a monthly report to the appropriate Payroll Officer to facilitate the payroll process.  For each day earned, the rate of pay shall be the daily salary of minimum Class IV in accordance with the Provincial Collective Bargaining Agreement.  Supervisory Leave Days in excess of five (5) shall be submitted to Payroll on or before June 15 for inclusion on the June payroll, or shall be included on the next possible pay period if notice is provided after the June 15 deadline.

Monetary Benefit. An amount equal to the Executive=s Base Pay, paid as a lump sum. Notwithstanding the foregoing, although Meridian and Executive intend that no portion of the compensation provided to Executive by Meridian or any affiliate (including the payments provided for in this Subparagraph 2(a) and any payments to Executive under any employee benefit plan or other arrangement) be considered an Excess Parachute Payment (defined below), if any portion of such compensation constitutes an Excess Parachute Payment and is subject to the Excise Tax (defined below), then Meridian shall, in addition to providing such compensation, pay the Gross-Up Payment (defined below) to Executive on or before the tenth day after Executive provides written notice of the amount of the Gross-Up Payment to Meridian. For purposes of this Subparagraph 2(a): (i) "EXCESS PARACHUTE PAYMENT" means an excess parachute payment as defined in section 280G(b) of the Code; (ii) "EXCISE TAX" means the tax imposed pursuant to section 4999 of the Code; and (iii) "GROSS-UP PAYMENT" means with respect to any compensation provided to Executive by Meridian or any affiliate of Meridian (including the payments provided for under this Agreement and any payments to Executive under any employee benefit plan or other such arrangement) that is subject to the Excise Tax, an amount that, after reduction of the amount of such Gross-Up Payment for all federal, state and local taxes to which the Gross-Up Payment is subject (including the Excise Tax to which the Gross-Up Payment is subject), is equal to the amount of the Excise Tax to which such compensation is subject. For purposes of determining the amount of the Gross-Up Payment, Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made, and shall be deemed to pay state and local income taxes, if applicable, at the highest marginal rate of taxation in the state and locality of Executive's residence on the date of his termination of employment with Meridian, net of the maximum reduction in federal income taxes that could be obtained from deduction of state and local taxes, if any.

Monetary Benefit. Teachers who choose a monetary benefit in lieu of Supervisory Leave Days shall be compensated in the following ways: • For each supervised lunch period, a teacher shall receive $20.00 prorated for the amount of time spent supervising students. • The Principal shall submit a monthly report to the appropriate Payroll Officer to facilitate the payroll process. • For each day earned, the rate of pay shall be the daily salary of minimum Class IV in accordance with the Provincial Collective Bargaining Agreement. • Supervisory Leave Days in excess of five (5) shall be paid out on June’s pay cheque.

Monetary Benefit. A provincial task force will be examining outstanding issues around teacher time, including the length of the school day. Both parties to this agreement recognize that pay for noon is not equitable between schools due to differences in noon period lengths and have agreed to review this clause in the future, pending the task force’s report. Supervisory Leave Days in excess of six (6) should be the correct wording for this sub-point, and will be corrected when the teams meet in January to review questions, concerns or issues arising (this should align with 7.4 (a).

Monetary Benefit. Sharing The RECIPIENT pays to CANADA a royalty of 3.5 cents per pound of certified seed resulting from the use of the Line Ten in the RECIPIENT breeding program, sold by the RECIPIENT for domestic sales and sold for export sales . The royalty shall be paid by the RECIPIENT to CANADA by August 1 of each calendar year.Another way of looking at the royalty is 2.5% of retail price of the certified seed sold by the company for an exclusive license to the line (parent). Model Model Contracts/Clauses: AAFC uses templates for licenses.

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Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20
Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.
Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.
Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.
Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.
Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.
Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).
PERSONAL INJURY BENEFITS A. 1. Whenever a teacher is absent from duty as a result of personal injury caused by an accident or an assault and/or battery upon the teacher arising out of and in the course of employment, the teacher will be paid full salary (less the amount of any worker's compensation paid for said injury) for the period of such absence not to exceed 189 working days.
Severance Benefit (a) If the employment of the Employee with the Company is terminated by the Company for any reason other than Cause (as defined below) or if the Employee terminates his or her employment with the Company for Good Reason (as defined below), the Company shall pay the Employee, from the date of termination, in addition to any payments to which the Employee is entitled under the Company’s severance pay plan, twelve (12) months of base salary at the Employee’s annual base salary level in effect at the time of such termination or immediately prior to the salary reduction that serves as the basis for termination for Good Reason. Employee will also be entitled to payment of an amount of cash equal to $20,000. The aggregate base salary and other cash amount payable shall be paid by the Company to the Employee in one lump sum on the first day following the six (6) month anniversary of the date of the Employee’s termination. For purposes of this Agreement, the term “termination” when used in the context of a condition to, or timing of, payment hereunder shall be interpreted to mean a “separation from service” as that term is used in Section 409A of the Code. (b) Employee will also be entitled to twelve (12) months of health benefits continuation if terminated under circumstances described in subpart (a) above. To the extent any such benefits cannot be provided to the Employee on a non-taxable basis and the provision thereof would cause any part of the benefits to be subject to additional taxes and interest under Section 409A of the Code, then the provision of such benefits shall be deferred to the earliest date upon which such benefits can be provided without being subject to such additional taxes and interest. (c) Solely for purposes of this Agreement, “Cause” shall include: i. the conviction of a felony, a crime of moral turpitude or fraud or having committed fraud, misappropriation or embezzlement in connection with the performance of his duties hereunder, ii. willful and repeated failures to substantially perform his assigned duties; or iii. a violation of any provision of this Agreement or express significant policies of the Company. (d) Solely for purposes of this Agreement, termination for “Good Reason” shall mean termination of employment by the Employee within ninety (90) days after:
Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

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