Monetary Benefit Sample Clauses

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:
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Monetary Benefit. An amount equal to two times 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.
Sample 1
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.
Sample 1
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. Contract/Provisions
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Related to Monetary Benefit

  • 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.

  • 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.

  • Severance Benefit If the Employee’s employment is terminated by the Company for any reason other than Cause (as defined below) or if the Employee terminates his/her employment for Good Reason (as defined below), the Company shall provide Employee with the following:

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