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Redundancy pay schemes Sample Clauses

Redundancy pay schemes. (a) Where an employer terminates the employment of an employee and the employer incurs a redundancy pay obligation to the employee under this clause, some or all of the benefit the employee receives from a redundancy pay fund may be set off against the employer’s redundancy pay obligation under this clause, subject to the following conditions. (b) If the employee receives a benefit from the redundancy pay fund, the employer may set off any proportion of the benefit which is attributable to the employer’s contribution to the fund against its redundancy pay obligation under this clause. If the proportion so calculated is equal to or greater than the employer’s redundancy pay obligation under this clause the obligation will be fully satisfied. (c) If the employee does not receive a benefit from the redundancy pay scheme, contributions made by an employer on behalf of an employee to the scheme will, to the extent of those contributions, be set off against the liability of the employer under this clause and payments to the employee will be made in accordance with the rules of the redundancy pay scheme fund or any agreement relating thereto. If the contribution is equal to or greater than the employer’s redundancy pay obligation under this clause the obligation will be fully satisfied. The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992.
Redundancy pay schemesThe Employer may offset an Employee’s redundancy pay entitlement in whole or in part to a redundancy pay scheme; provided that where the employment of an Employee is terminated and the Employee receives a benefit from a redundancy pay scheme, the Employee will only receive the difference between the redundancy pay in this clause and the amount of the redundancy pay scheme benefit the Employee receives which is attributable to Employer contributions.
Redundancy pay schemes. (a) The Employer may offset an Employee’s redundancy pay entitlement in whole or in part by contributions to a redundancy pay scheme. (b) Provided that where the employment of an Employee is terminated and: (i) the Employee receives a benefit from a redundancy pay scheme, the Employee will only receive the difference between the redundancy pay in this clause and the amount of the redundancy pay scheme benefit the Employee receives which is attributable to Employer contributions. If the redundancy pay scheme benefit is greater than the amount payable under clause 10.5 then the Employee will receive no redundancy payment under clause 10.5; or (ii) the Employee does not receive a benefit from a redundancy pay scheme, contributions made by the Employer on behalf of an Employee to the scheme will, to the extent of those contributions, be offset against the liability of the Employer under clause 10.5, and payments to the Employee will be made in accordance with the rules of the redundancy pay scheme fund or any agreement relating thereto. The Employee will be entitled to the fund benefit or the Agreement benefit whichever is greater but not both. (c) The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992 (Cth). ACIRT is an approved worker entitlement fund. Protect is an approved worker entitlement fund.

Related to Redundancy pay schemes

  • Redundancy Pay A redundant employee will receive redundancy/severance payments, calculated as follows, in respect of all continuous service (as defined by this Agreement) with the employer. Period of continuous service with the employer Redundancy/severance pay

  • Redundancy 21.1 Subject to the following procedure, it is agreed that it is the Employer’s prerogative to determine the order of selection of Employees for employment or retrenchment. 21.2 All relevant legislation governing unfair dismissal, discrimination etc. will be observed. 21.3 Voluntary terminations will be encouraged as a first step. 21.4 The seniority of Employees - within classifications, experience or skills held - will be observed by the Employer in selecting Employees for retrenchment. 21.5 The dispute settlement procedures set out in Part 2 will apply in the event of any concerns arising regarding retrenchments. 21.6 An Employee is entitled to access their Redundancy payments when they cease to be employed by the Employer. The amount of the Redundancy payment shall be whichever is the greater of the entitlement due under the Award as in force from time to time or the entitlement of the Employee under the Nominated Redundancy Fund trust deed (or under the constituting documents of any fund nominated by Incolink under this clause). Note that the industry-specific Redundancy scheme prescribed by the Award as in force from time to time is expressly incorporated into this Agreement (including for clarity, in respect of work falling within the scope of clause 4.2).

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125 per hour.

  • Compensation Arrangements (a) Following receipt of an RoU Claim Notice in respect of a Type 2 Restriction of Use, Network Rail and the Train Operator shall (if they have not already done so) commence negotiations in respect of the RoU Direct Costs compensation to be paid by one party to the other in respect of such Type 2 Restriction of Use and, subject to paragraph 10, shall continue such negotiations in good faith until they are concluded. (b) Once the compensation referred to in paragraph 6.1(a) has been agreed or determined (and has been compared against any amounts calculated under paragraph 4 together with any other amounts paid or due to the Train Operator from Network Rail in relation to such Restriction of Use) then, in the event of: (i) a shortfall for the Train Operator, the compensation to be paid by Network Rail to the Train Operator shall be the full amount of the RoU Direct Costs actually incurred by the Train Operator less any amounts calculated under paragraph 4 which have already been paid or are due for such Restriction of Use and any other amounts in respect of any RoU Direct Costs received by the Train Operator from Network Rail in respect of such Restriction of Use; or (ii) an overpayment by Network Rail to the Train Operator, the compensation to be paid by the Train Operator to Network Rail shall be the difference between the amount received by the Train Operator which was calculated under paragraph 4 and the RoU Direct Costs actually incurred by the Train Operator in respect of such Restriction of Use. (c) Network Rail shall include in the statement provided by it in respect of each Period under paragraph 13.1(a) details of the compensation agreed or determined under this paragraph 6 and paragraph 10 to be payable in respect of any Type 2 Restriction of Use taken in that Period and that compensation shall be due and payable by the relevant party to the other in accordance with paragraph 13.1.