Common use of Payment of Salary and Benefits Clause in Contracts

Payment of Salary and Benefits. The payment of salary, benefits and the timing of the one (1) year of leave of absence shall be as follows: a) In each year of the plan, preceding the year of leave, the employee will be paid an agreed upon percentage of their regular base salary. The remaining percentage of salary will be deferred and this amount will be retained for the employee by the Board to finance the year of leave. The percentage of salary deferred each year cannot exceed thirty-three and one-third (33 1/3 %) of the employee’s regular base salary. b) The deferred salary will be deposited in an individual trust account established by the Board. The interest credited to the accounts will be at rates determined by the financial institution. Any interest credited to the account during a calendar year will be paid to the employee at the end of the calendar year if required by Revenue Canada. c) Salary payments will be made on the employee’s regular pay day. Deposits to the trust accounts will be made on the employee’s regular month end pay date. d) During the year leave, the employee may continue to participate in the Board’s group insurance plans provided the insurance carrier allows continued participation and the employee pays one hundred percent (100%) of the applicable premiums. e) All amounts deferred shall be paid to the employee by the end of the taxation year following the year that the salary deferral period ended.

Payment of Salary and Benefits. The payment of salary, benefits and the timing of the one (1) year of leave of absence shall be as follows: a) In each year of the plan, preceding the year of leave, the employee will be paid an agreed upon percentage of their regular base salary. The remaining percentage of salary will be deferred and this amount will be retained for the employee by the Board to finance the year of leave. The percentage of salary deferred each year cannot exceed thirty-three and one-third (33 1/3 %) of the employee’s regular base salary. b) The deferred salary will be deposited in an individual trust account established by the Board. The interest credited to the accounts will be at rates determined by the financial institution. Any interest credited to the account during a calendar year will be paid to the employee at the end of the calendar year if required by the Canada Revenue CanadaAgency. c) Salary payments will be made on the employee’s regular pay day. Deposits to the trust accounts will be made on the employee’s regular month end pay date. d) During the year of leave, the employee may continue to participate in the Board’s group insurance plans provided the insurance carrier allows continued participation and the employee pays one hundred percent (100%) of the applicable premiums. e) All amounts deferred shall be paid to the employee by the end of the taxation year following the year that the salary deferral period ended.

Payment of Salary and Benefits. The payment of salary, benefits and the timing of the one (1) year of leave of absence shall be as follows: a) In each year of the plan, preceding the year of leave, the employee will be paid an agreed upon percentage of their regular base salary. The remaining percentage of salary will be deferred and this amount will be retained for the employee by the Board to finance the year of leave. The percentage of salary deferred each year cannot exceed thirty-three and one-one- third (33 1/3 %) of the employee’s 's regular base salary. b) The deferred salary will be deposited in an individual trust account established by the Board. The interest credited to the accounts will be at rates determined by the financial institution. Any interest credited to the account during a calendar year will be paid to the employee at the end of the calendar year if required by Revenue Canada. c) Salary payments will be made on the employee’s 's regular pay day. Deposits to the trust accounts will be made on the employee’s 's regular month end pay datepaydate. d) During the year leave, the employee may continue to participate in the Board’s 's group insurance plans provided the insurance carrier allows continued participation and the employee pays one hundred percent (100%) of the applicable premiums. e) All amounts deferred shall be paid to the employee by the end of the taxation year following the year that the salary deferral period ended.

Payment of Salary and Benefits. The payment of salary, benefits and the timing of the one (1) year of leave of absence shall be as follows: a) In each year of the plan, preceding the year of leave, the employee will be paid an agreed upon percentage of their regular base salary. The remaining percentage of salary will be deferred and this amount will be retained for the employee by the Board to finance the year of leave. The percentage of salary deferred each year cannot exceed thirty-three and one-third (33 1/3 %) of the employee’s =s regular base salary. b) The deferred salary will be deposited in an individual trust account established by the Board. The interest credited to the accounts will be at rates determined by the financial institution. Any interest credited to the account during a calendar year will be paid to the employee at the end of the calendar year if required by Revenue Canada. c) Salary payments will be made on the employee’s =s regular pay day. Deposits to the trust accounts will be made on the employee’s =s regular month end pay date. d) During the year leave, the employee may continue to participate in the Board’s =s group insurance plans provided the insurance carrier allows continued participation and the employee pays one hundred percent (100%) of the applicable premiums. e) All amounts deferred shall be paid to the employee by the end of the taxation year following the year that the salary deferral period ended.