Percentage in Lieu of Benefits Payment Sample Clauses

Percentage in Lieu of Benefits Payment. (a) Commencing the first of the month following or coincident with the completion of three (3) months of continuous employment, a part-time Employee or term Employee who is employed for a term of less than one year’s duration shall receive in lieu of all fringe benefits (being those benefits to an Employee, paid in whole or part by the Employer, as part of direct compensation or otherwise, including holiday pay, SUB payments and pension, save and except salary and vacation pay) an amount equal to thirteen percent (13%) of his regular straight time hourly rate for all straight time hours paid.
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Percentage in Lieu of Benefits Payment. Commencing the first of the month following or coincident with the completion of three
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Percentage in Lieu of Benefits Payment. Commencing the first of the month following or coincident with the completion of three (3) months of continuous employment, a part-time Employee who regularly works less than twenty-one (21) hours per week or term Employee who is employed for a term of less than one year’s duration shall receive in lieu of all fringe benefits (being those benefits to an Employee, paid in whole or part by the Hospital, as part of direct compensation or otherwise, including holiday pay, pregnancy SUB payments and pension, save and except salary and vacation pay) an amount equal to thirteen (13%) percent of his regular straight time hourly rate for all straight time hours paid. Subject to the terms and conditions of the HOOPP, any part-time Employee who is eligible may elect to participate in the Pension Plan. A part-time Employee who elects to participate in the pension plan shall have her percentage in lieu of benefits payment reduced by 4%. It is understood and agreed that the part-time Employee's hourly rate (or straight time hourly rate) in this Agreement does not include the percentage in lieu of benefits payment as applicable which is paid in lieu of fringe benefits. Accordingly the applicable percentage in lieu of benefits payment in lieu of fringe benefits will not be included for the purpose of computing any premium or overtime payments.
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Related to Percentage in Lieu of Benefits Payment

  • Payment in Lieu of Benefits a) All employees not transferred to the Trust who received pay in lieu of benefits under a collective agreement in effect as of August 31, 2014, shall continue to receive the same benefit.

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • 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.

  • Payment of Benefits a) In computing the amount of disability benefits, disability will be considered as starting from the first day of disability; however, an employee must be certified by a medical practitioner for the disability within the first three days of disability. In the event that the employee is not certified within the first three days, disability will be considered as starting two complete days prior to the day that the employee is actually certified by a medical practitioner.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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