PENSIONS PROVISION AND LIFE ASSURANCE Sample Clauses

PENSIONS PROVISION AND LIFE ASSURANCE. 7.1 The Executive is a member of the 1964 Pension Scheme section of the Barclays Bank UK Retirement Fund which is a final salary arrangement contracted-out of the State Earnings Related Pension Scheme. The Executive’s membership of and participation in the 1964 Pension Scheme shall be subject to the Trust Deed and Rules of the scheme in force from time to time. 7.2 Under the current rules of the Barclays Bank UK Retirement Fund, in the event of the Executive’s death whilst in the service of Barclays, a lump sum of 4 x Basic Salary is payable, plus a spouse’s pension and children’s pension. For the purposes of this clause “Basic Salary” shall mean the Executive’s basic salary at the date of his death, subject to any Inland Revenue limits that may apply. The Executive shall continue to participate in this scheme subject to the rules of the scheme from time to time.
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PENSIONS PROVISION AND LIFE ASSURANCE. 8.1 There is a pension scheme in operation in relation to your employment called the afterwork section of the Barclays Bank UK Retirement Fund (the “Fund”), afterwork is a cash balance hybrid arrangement which is contracted-in to the State Second Pension. Therefore, a contracting out certificate is not currently in force. 8.1.1 You will join afterwork automatically on commencement of your employment unless you opt out under Clause 8.2 below. Your membership of and participation in afterwork shall be subject to the Trust Deed and Rules of the Fund in force from time to time. 8.1.2 On condition that you make a minimum contribution of 3% of your Basic Salary up to the Earnings Cap to your Investment Account of afterwork, Barclays will make an Additional Payment. The Additional Payment will be equal in value to 25% of your Basic Salary less the value of the employer contribution in respect of you to afterwork under the Rules of the Fund. The Additional Payment will be made in the form of an additional employer contribution to your Investment Account of afterwork or, subject to Barclays consent, as a cash sum which will be subject to deduction for income tax at your marginal rate and National Insurance Contributions. 8.1.3 You acknowledge that joining afterwork may affect the validity of any Enhanced Protection which you have taken or intend to take and that Barclays will not be liable for any tax charge which you may suffer as a consequence of this. 8.2 As an alternative to the benefits provided under Clause 8.1 above, you may opt out of joining afterwork and elect to take a cash option equal to 25% of your Basic Salary, which will be taxed at your marginal rate and be subject to National Insurance Contributions. 8.3 In the event of your death whilst in the service of Barclays, a lump sum of 4 x Basic Salary is payable subject to the Trust Deed and Rules of the Fund in force from time to time. You will be liable for tax on the Insurance Premium for: 8.3.1 the cover above your Lifetime Allowance, if you join afterwork under Clause 8.1; and 8.3.2 the full amount of the cover if you take the cash option under Clause 8.2. If the lump sum payable causes your Lifetime Allowance to be exceeded, your estate will be liable for any applicable tax charge on the excess. For the purposes of this clause 8:
PENSIONS PROVISION AND LIFE ASSURANCE. 7.1 The Executive is a member of the 1964 Pension Scheme section of the Barclays Bank UK Retirement Fund, which is a final salary arrangement, contracted out of the State Earnings Related Pension Scheme The Executive’s membership of and participation in the 1964 Pension Scheme shall be subject to the Trust Deed and Rules of the scheme in force from time to time. 7.2 Under the current rules of the Barclays Bank UK Retirement Fund, in the event of the Executive’s death whilst in the service of Barclays, a lump sum of 4 x Basic Salary is payable, subject to Inland Revenue limits if applicable, plus a spouse’s pension and children’s pension. For the purposes of this clause “Basic Salary” shall mean the Executive’s basic salary at the date of his death. The Executive shall continue to participate in this scheme subject to the rules of the scheme from time to time.

Related to PENSIONS PROVISION AND LIFE ASSURANCE

  • Health and Life Insurance In the event Employee’s employment is terminated hereunder, the Company shall provide the following health and life insurance benefits: (a) Upon Employee’s termination of employment under this Agreement other than upon Employee’s termination for Cause or upon Employee’s death, the Company shall be responsible for a one-year period following Employee’s Termination Date, the scheduled premium payments (on or before their due dates) on any universal life insurance policy covering Employee’s life which is in force immediately prior to the Termination Date; provided, however, that the Company shall be obligated to pay any such premiums only to the extent that, and on the same basis as, payments are made by the Company on the universal life insurance policies covering officers of the Company with same or similar coverage and further provided that during the period of six months immediately following the Employee’s Termination Date, the Employee shall be obligated to pay the Company the full cost for any such premium payments, and the Company shall reimburse the Employee for any such payments on the first business day that is more than six months after the Employee’s Termination Date, together with interest on such amount from the Termination Date through the date of payment at the Interest Rate. (b) Upon Employee’s termination of employment under this Agreement other than upon a Change of Control (which shall be governed by the COC Severance Plan), Employee’s termination for Cause, or upon Employee’s death, the Company shall, at its expense, provide such medical and dental coverage as in effect immediately prior to the Termination Date for Employee and Employee’s then covered dependents until the end of the period designated for payments to be made hereunder. Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (c) In the event of Employee’s death during the Term of Employment for a twelve-month period after his death the Company shall make available at its expense medical and dental insurance covering Employee’s spouse and his dependents (collectively, “Employee’s Beneficiaries”) who would have been covered (if the Term of Employment had continued) by the Company’s medical and dental insurance policies as then in effect, and (ii) thereafter for an additional six-month period, such medical and dental insurance in effect from time to time shall be provided to Employee’s Beneficiaries, with Employee’s Beneficiaries (or estate if applicable) to reimburse the Company for the cost of comparable coverage under the provisions of this clause (ii), unless otherwise prohibited by applicable law Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (d) Any taxable welfare benefits provided pursuant to this Section 13 that are not “disability pay” or “death benefits” within the meaning of Treasury Regulation Section 1.409A-1(a)(5) (collectively, the “Applicable Benefits”) shall be subject to the following requirements in order to comply with Section 409A of the Code. The amount of any Applicable Benefit provided during one taxable year shall not affect the amount of the Applicable Benefit provided in any other taxable year, except that with respect to any Applicable Benefit that consists of the reimbursement of expenses referred to in Section 105(b) of the Code, a limitation may be imposed on the amount of such reimbursements over some or all of the applicable severance period, as described in Treasury Regulation Section 1.409A-3(i)(iv)(B). To the extent that any Applicable Benefit consists of the reimbursement of eligible expenses, such reimbursement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. No Applicable Benefit may be liquidated or exchanged for another benefit.

  • SAVINGS PROVISIONS If any provisions of this Agreement are held to be contrary to law by a court of competent jurisdiction, such provisions will not be deemed valid and subsisting except to the extent permitted by law, but all other provisions will continue in full force and effect.

  • Benefit to Citizens of Xxxxxxx County The safety of the citizens of Xxxxxxx County is enhanced through this Agreement, which promotes safe boating conditions and reduces costs associated with patrols of recreational waterways.

  • ’ Compensation and Employer’s Liability Coverage The Grantee shall provide workers’ compensation, in accordance with Chapter 440, F.S. and employer liability coverage with minimum limits of $100,000 per accident, $100,000 per person, and $500,000 policy aggregate. Such policies shall cover all employees engaged in any work under the Grant.

  • Please see the current Washtenaw Community College catalog for up-to-date program requirements Conditions & Requirements

  • CRIMINAL PROVISIONS AND SANCTIONS The Contractor agrees to perform the Agreement in conformance with safeguards against fraud and abuse as set forth by the H-GAC, the State of Texas, and the acts and regulations of any related state or federal agency. The Contractor agrees to promptly notify H-GAC of any actual or suspected fraud, abuse, or other criminal activity through the filing of a written report within twenty-four (24) hours of knowledge thereof. Contractor shall notify H-GAC of any accident or incident requiring medical attention arising from its activities under this Agreement within twenty-four (24) hours of such occurrence. Theft or willful damage to property on loan to the Contractor from H-GAC, if any, shall be reported to local law enforcement agencies and H-GAC within two (2) hours of discovery of any such act. The Contractor further agrees to cooperate fully with H-GAC, local law enforcement agencies, the State of Texas, the Federal Bureau of Investigation and any other duly authorized investigative unit, in carrying out a full investigation of all such incidents. The Contractor shall notify H-GAC of the threat of lawsuit or of any actual suit filed against the Contractor pertaining to this Agreement or which would adversely affect the Contractor’s ability to perform services under this Agreement.

  • HEALTH AND INSURANCE BENEFITS 22.01 All health and insurance benefit premium costs paid by the Employer shall prorate in accordance with the proration formula under Article 22.12 of this Agreement. Same sex spouse is eligible to be a dependent for insured benefits.

  • Workers’ Compensation and Employer’s Liability Coverage The insurer shall agree to waive all rights of subrogation against the City, its directors, officials, officers, employees, agents and volunteers for losses paid under the terms of the insurance policy which arise from work performed by the Consultant.

  • Community Benefits 31.1. The potential to take in to account social considerations (also referred to as Community Benefits) in public procurement is firmly established and set out in European Directive 2014/24/EU, the Public Contracts (Scotland) Regulations 2015 (“the Regulations”) and European case law. 31.2. The Authority is interested in measures that the Contractor proposes to take to encourage:  The targeted recruitment and training of the long-term unemployed and those further from the job market (by way of apprenticeships, work placements etc.);  Educational benefits to communities, including working closely with educational establishments and community groups to maximise educational opportunities that arise through performance of the agreement, increase awareness, skills and digital accessibility;  Awareness of opportunities, either in a prime or a sub-contracting role, for small to medium (SME) sized businesses and social enterprises. This should include opportunities for organisations with expertise in: o Provision of the requirement o Service delivery o Hyper-Scale Public Cloud

  • CERTIFICATION PROHIBITING DISCRIMINATION AGAINST FIREARM AND AMMUNITION INDUSTRIES (Texas law as of September 1, 2021) By submitting a proposal to this Solicitation, you certify that you agree, when it is applicable, to the following required by Texas law as of September 1, 2021: If (a) company is not a sole proprietorship; (b) company has at least ten (10) full-time employees; (c) this contract has a value of at least $100,000 that is paid wholly or partly from public funds; (d) the contract is not excepted under Tex. Gov’t Code § 2274.003 of SB 19 (87th leg.); and (e) governmental entity has determined that company is not a sole-source provider or governmental entity has not received any bids from a company that is able to provide this written verification, the following certification shall apply; otherwise, this certification is not required. Pursuant to Tex. Gov’t Code Ch. 2274 of SB 19 (87th session), the company hereby certifies and verifies that the company, or association, corporation, partnership, joint venture, limited partnership, limited liability partnership, or limited liability company, including a wholly owned subsidiary, majority-owned subsidiary parent company, or affiliate of these entities or associations, that exists to make a profit, does not have a practice, policy, guidance, or directive that discriminates against a firearm entity or firearm trade association and will not discriminate during the term of this contract against a firearm entity or firearm trade association. For purposes of this contract, “discriminate against a firearm entity or firearm trade association” shall mean, with respect to the entity or association, to: “ (1) refuse to engage in the trade of any goods or services with the entity or association based solely on its status as a firearm entity or firearm trade association; (2) refrain from continuing an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association; or (3) terminate an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association. See Tex. Gov’t Code § 2274.001(3) of SB 19. “Discrimination against a firearm entity or firearm trade association” does not include: “ (1) the established policies of a merchant, retail seller, or platform that restrict or prohibit the listing or selling of ammunition, firearms, or firearm accessories; and (2) a company’s refusal to engage in the trade of any goods or services, decision to refrain from continuing an existing business relationship, or decision to terminate an existing business relationship to comply with federal, state, or local law, policy, or regulations or a directive by a regulatory agency, or for any traditional business reason that is specific to the customer or potential customer and not based solely on an entity’s or association’s status as a firearm entity or firearm trade association.” See Tex. Gov’t Code § 2274.001(3) of SB 19.

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