Common use of Payment Formula and Leave Clause in Contracts

Payment Formula and Leave. The payment of salary, fringe benefits and the timing of the one (1) year leave of absence shall be as follows: i) In all five (5) years of the plan, an employee will be paid 80% of his/her proper salary and applicable allowances. The remaining 20% will be accumulated, and this amount plus interest earned shall be retained by the Board for the employee. ii) The calculation of interest under the terms of this Plan shall be done monthly (not in advance) at the non-chequing savings account rate in effect, at the bank with which the Board deals, on the last Friday of each month. iii) The employee will be responsible for arranging with the Board, the payment of premiums for employee benefits. Any benefits tied to salary level shall be structured according to the actual salary paid.

Payment Formula and Leave. The payment of salary, fringe benefits and the timing of the one (1) year leave of absence shall be as follows: i) i. In all five (5) years of the plan, an employee will be paid 80% of his/her proper salary and applicable allowances. The remaining 20% will be accumulated, and this amount plus interest earned shall be retained by the Board for the employee. ii) . The calculation of interest under the terms of this Plan shall be done monthly (not in advance) at the non-chequing savings account rate in effect, at the bank with which the Board deals, on the last Friday of each month. iii) . The employee will be responsible for arranging with the Board, the payment of premiums for employee benefits. Any benefits tied to salary level shall be structured according to the actual salary paid.

Payment Formula and Leave. The payment of salary, fringe benefits and the timing of the one (1) year leave of absence shall be as follows: i) In all five (5) years of the plan, an employee will be paid 80% of his/her their proper salary and applicable allowances. The remaining 20% will be accumulated, and this amount plus interest earned shall be retained by the Board for the employee. ii) The calculation of interest under the terms of this Plan shall be done monthly (not in advance) at the non-chequing savings account rate in effect, at the bank with which the Board deals, on the last Friday of each month. iii) The employee will be responsible for arranging with the Board, the payment of premiums for employee benefits. Any benefits tied to salary level shall be structured according to the actual salary paid.

Payment Formula and Leave. The payment of salary, fringe benefits and the timing of the one (1) year leave of absence shall be as follows: i) i. In all five (5) years of the plan, an employee will be paid 80% of his/her their proper salary and applicable allowances. The remaining 20% will be accumulated, and this amount plus interest earned shall be retained by the Board for the employee. ii) . The calculation of interest under the terms of this Plan shall be done monthly (not in advance) at the non-chequing savings account rate in effect, at the bank with which the Board deals, on the last Friday of each month. iii) . The employee will be responsible for arranging with the Board, the payment of premiums for employee LTD benefits. Any LTD benefits tied to salary level shall be structured according to the actual salary paid.