Retired Unit Members Sample Clauses

Retired Unit Members. A. The District’s monetary contribution in retirement for health insurance will be equal to the same percentage that the District contributed for BluePoint2 Value on the unit member’s last day of employment as applied to the single or two-person premium for BluePoint2 Value until the unit member is first eligible for Medicare. The district shall pay its percentage of the premiums for the district’s health plan, major medical, dental and vision care insurance at the co-payment rate it was contributing prior to retirement for retiring unit members who have completed 20 consecutive, full-time equivalent years (16 of which shall be full-time and 4 years of pro-rated equivalent service) of service in the district and are retiring from the district, are at least 55 years of age at the date of retirement, and have applied for retirement benefits from the New York State Employees’ Retirement System at the time of retirement. At age 65, Medicare Part B will be the retiree’s primary carrier for health insurance. When first Medicare eligible, unit members must enroll in Medicare Part B. The District’s monthly monetary contribution will be based on the aforementioned percentage as applied to the premium for the Medicare Blue Choice insurance plan with a prescription rider initially set at $10/$25/$40. The retired unit member will be billed for their share of the premiums. The retired unit member can apply the equivalent dollar amount towards any of the available plans that coordinate with Medicare Part B, not to exceed the percentage paid by the District for Medicare Blue Choice as applied to the premium for the plan selected by the unit member. The retired unit member will be billed on a semi-annual basis by the District for their share of the premium. Coverage will be terminated should the retired unit member fail to provide payment within 30 days of billing. B. These benefits shall not be paid for the survivors of any retiree.
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Retired Unit Members. 40.6.1 Permanent unit members working fifty percent (50%) time or more at the time of their retirement, and have rendered ten (10) years or more of regular, permanent service, and are between the age of fifty-five (55) and sixty-five (65), shall be paid the following benefit: Premium cost of medical insurance coverage for the unit member only for benefits provided under section 40.1.2, up to a maximum amount of one thousand ($1,000) per year until age sixty-five (65). Upon attaining age sixty-five (65), retired unit members shall be eligible to maintain District sponsored retiree benefits at their cost. 40.6.2 Unit members hired prior to October 7, 1982 as regular permanent unit members, and working fifty percent (50%) time or more at the time of their retirement, and who have rendered twenty (20) or more years of regular, permanent service, and are fifty-five (55) years of age or older, shall be paid the following benefit: Premium cost for medical insurance coverage for the unit member only for benefits provided under section 40.1.2 up to a maximum of five hundred ($500) per year. This section shall not apply to any unit member hired on or after October 7, 1982.
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Retired Unit Members. The District also agrees to permit unit members who have retired (up to 34 age 65) to continue on the District hospitalization medical and dental plans in order that the unit member may 35 continue at the established group rate for that member’s age classification. Such hospitalization/medical and 1 dental coverage will be subject to any limitations imposed by the insurance carrier. The retired unit member 2 will be responsible for submitting payments for health plan premium coverage to the Business Office of the 3 District on the time schedule established by the District.
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Retired Unit Members. A. For unit members employed by the District as a school nurse on June 30, 2007 who were initially hired as a school nurse on or after July 1, 1991: 1. The District will provide 180 months (15 years) of retirement health insurance coverage for unit members who have completed a minimum of 20 consecutive full-time years of service in the District, are retiring from the District, and have applied and are eligible for retirement benefits from the New York State Employees Retirement System at the time of retirement from the District. 2. Prior to the retiree first becoming Medicare eligible, the District shall contribute the monetary equivalent of 100% of the District’s monthly contribution for single or employee-spouse medical insurance as paid on the unit member’s last day of employment. As an example, if the District paid $300 per month for employee-spouse coverage on the unit member’s last day of employment, the District will continue to pay $300 per month for employee-spouse coverage until the retiree first becomes Medicare eligible. The District’s monetary contributions for health insurances will not increase year-to-year. 3. When the unit member first becomes Medicare eligible, the District’s monetary contribution will be equal to the same percentage paid by the District for BluePoint2 Select on the unit member’s last day of employment as applied to the Medicare Blue Choice premium. As an example, if the District was paying 70% of the BluePoint2 Select premium on the unit member’s last day of employment, the District will pay the monetary equivalent of 70% of the Medicare Blue Choice premium. This monetary contribution will remain unchanged for the duration of the unit member’s retirement coverage. 4. After 180 months of retirement coverage, the District’s monetary contributions for health insurance(s) will end. B. For unit members employed by the District as a school nurse on June 30, 2007 who were hired by the District as a school nurse prior to July 1, 1991: 1. The District shall pay its share of the premiums for the District’s medical, dental and vision plans at the co-payment rate it was contributing prior to retirement for retiring employees who have completed 20 consecutive full- time years of service in the District, are retiring from the District, and have applied and are eligible for retirement benefits from the New York State Employees Retirement System at the time of retirement from the District. 2. At age 65, Medicare Part B will be the retir...
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Retired Unit Members. Nothing in this contract shall be interpreted to preclude a retired unit member from applying for service as a part-time faculty member for the District. In order to retain rehire preference provided under section 11.3.5., a written declaration of intent to teach and a medical certificate (Reference Education Code 87408.5) must be submitted within one (1) year of the effective date or retirement and exercised within three (3) semesters of retirement. A retired unit member who elects to teach shall be subject to the same evaluation procedure as a new part-time instructor.
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Retired Unit Members i. Retired unit members who are offered employment and elect to come out of retirement to work for the District must pay back incentive monies prior to reemployment except for participants in the District Retirement Plan A. ii. Part-Time Support Retired unit members working as part-time support teachers will be rated in as if they were new to the District, with credit for prior experience, as described in 2.a above. This category is exempt from paying back incentive monies. iii. District Determined Staffing Emergency When the District determines that it has an emergency staffing situation where the only person qualified and available to fill a bargaining unit position is a District retired employee, the returning bargaining unit member is exempt from paying back incentive monies.
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Retired Unit Members. For unit members employed by the District as a school nurse on June 30, 2007 who were initially hired as a school nurse on or after July 1, 1991:
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Retired Unit Members. The District also agrees to permit unit members who have retired (up to 34 age 65) to continue on the District hospitalization medical and dental plans in order that the unit member may 1 continue at the established group rate for that member’s age classification. Such hospitalization/medical and 2 dental coverage will be subject to any limitations imposed by the insurance carrier. The retired unit member 3 will be responsible for submitting payments for health plan premium coverage to the Business Office of the 4 District on the time schedule established by the District. 5 Failure of the retired unit member to meet the established premium payment schedule will result in the retired 6 unit member being terminated from the hospitalization/medical-dental plan.
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Related to Retired Unit Members

  • Management Members and Shares 8 2.1 Rights and Duties of the Manager. 8 2.2 Officers 9 2.3 Members. 9

  • Membership Units The Company is initially organized with One (1) class of Membership Interests, designated in Units, which Units are initially the only class of equity in the Company. The Units shall have no par value and shall be of a single class with identical rights. The Company shall have a first lien on the Units of any Member for any debt or liability owed by such Member to the Company. Additional and different classes of Membership Interests represented by different Units may be created and issued to new or existing Members on such terms and conditions as the Governors may determine. Such additional and different classes may have different rights, powers and preferences (including, without limitation, voting rights and distribution preferences), which may be superior to those of existing Members. Members shall have no preemptive rights to acquire additional or newly created Units.

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

  • Partnership Units Each Partner shall own Partnership Units in the amounts set forth for such Partner in Exhibit A and shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to the extent necessary to reflect accurately redemptions, additional Capital Contributions, the issuance of additional Partnership Units or similar events having an effect on the number of Partnership Units held by, and the Percentage Interest of, any Partner. Each Partnership Unit shall entitle the holder thereof to one vote on all matters on which the Partners (or any portion of the Partners) are entitled to vote under this Agreement.

  • Ltip Units (a) The General Partner may from time to time issue LTIP Units to Persons who provide services to the Partnership, for such consideration as the General Partner may determine to be appropriate, and admit such Persons as Limited Partners. Subject to the following provisions of this Section and the special provisions of Sections 4.5, 5.1(e), and 8.6, LTIP Units shall be treated as Limited Partnership Units, with all of the rights, privileges and obligations attendant thereto. For purposes of computing the Partners’ Percentage Interests, LTIP Units shall be treated as Common Units. (b) The Partnership shall maintain at all times a one-to-one correspondence between LTIP Units and Limited Partnership Units for conversion, distribution and other purposes, including without limitation complying with the following procedures: If an Adjustment Event (as defined below) occurs, then the General Partner shall make a corresponding adjustment to the LTIP Units to maintain a one-for-one conversion and economic equivalence ratio between Limited Partnership Units and LTIP Units. The following shall be “Adjustment Events:”

  • Transfers of Partnership Interests Except as the Partners may otherwise agree from time to time, a Partner may not Transfer all or any part of its Partnership Interest without the Consent of each other Partner, which Consent may be withheld in the sole discretion of each such other Partner.

  • Right to Acquire Limited Partner Interests (a) Notwithstanding any other provision of this Agreement, if at any time the General Partner and its Affiliates hold more than 80% of the total Limited Partner Interests of any class then Outstanding, the General Partner shall then have the right, which right it may assign and transfer in whole or in part to the Partnership or any Affiliate of the General Partner, exercisable at its option, to purchase all, but not less than all, of such Limited Partner Interests of such class then Outstanding held by Persons other than the General Partner and its Affiliates, at the greater of (x) the Current Market Price as of the date three days prior to the date that the notice described in Section 15.1(b) is mailed and (y) the highest price paid by the General Partner or any of its Affiliates for any such Limited Partner Interest of such class purchased during the 90-day period preceding the date that the notice described in Section 15.1(b) is mailed. As used in this Agreement, (i) “Current Market Price” as of any date of any class of Limited Partner Interests means the average of the daily Closing Prices (as hereinafter defined) per Limited Partner Interest of such class for the 20 consecutive Trading Days (as hereinafter defined) immediately prior to such date; (ii) “Closing Price” for any day means the last sale price on such day, regular way, or in case no such sale takes place on such day, the average of the closing bid and asked prices on such day, regular way, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal National Securities Exchange (other than the Nasdaq Stock Market) on which such Limited Partner Interests are listed or admitted to trading or, if such Limited Partner Interests of such class are not listed or admitted to trading on any National Securities Exchange (other than the Nasdaq Stock Market), the last quoted price on such day or, if not so quoted, the average of the high bid and low asked prices on such day in the over-the-counter market, as reported by the Nasdaq Stock Market or such other system then in use, or, if on any such day such Limited Partner Interests of such class are not quoted by any such organization, the average of the closing bid and asked prices on such day as furnished by a professional market maker making a market in such Limited Partner Interests of such class selected by the General Partner, or if on any such day no market maker is making a market in such Limited Partner Interests of such class, the fair value of such Limited Partner Interests on such day as determined by the General Partner; and (iii) “Trading Day” means a day on which the principal National Securities Exchange on which such Limited Partner Interests of any class are listed or admitted for trading is open for the transaction of business or, if Limited Partner Interests of a class are not listed or admitted for trading on any National Securities Exchange, a day on which banking institutions in New York City generally are open.

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.6, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the adjustment occurs and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • Shares; Membership Interests (a) The total of the membership interests in the Company shall be divided into (i) Class A Ordinary Shares having the rights and preferences as set forth herein (the “Class A Ordinary Shares”), (ii) Class A Preferred Shares having the rights and preferences as set forth herein (the “Class A Preferred Shares” and, together with the Class A Ordinary Shares, the “Class A Shares”), (iii) Class B Ordinary Shares having the rights and preferences as set forth herein (the “Class B Ordinary Shares”), and (iv) Class C Ordinary Share having the rights and preferences as set forth herein (the “Class C Ordinary Share” and, together with the Class A Ordinary Shares, the Class A Preferred Shares and the Class B Ordinary Shares, the “Shares” and each a “Share”). Class A Ordinary Shares, Class A Preferred Shares and Class B Ordinary Shares shall have the same rights, powers and duties, except as otherwise set forth in this Agreement. The number of Class A Ordinary Shares shall be limited to the maximum number of Class A Ordinary shares offered in the Offering, plus (i) the number of Class A Ordinary Shares which may be issued upon conversion of the Class A Preferred Shares, plus (ii) the number of Class A Ordinary Shares which may be issued upon conversion of the Class B Ordinary Shares. The number of Class A Preferred Shares shall be limited to the number of Class A Preferred Shares which may be issued pursuant to the Management Services Agreement. The number of Class B Ordinary Shares shall be limited to up to 1,000. The number of Class C Ordinary Shares shall be limited to one. Class A Preferred Shares issued pursuant to the Management Services Agreement (“ASA Shares”) may be subject to vesting provisions as set forth in the Management Services Agreement. The Shares of the Members shall be as set forth on Exhibit A attached hereto, which may be updated as set forth herein. For the avoidance of doubt, in the event that all of the Class A Ordinary Shares are not sold pursuant to the Offering, the Board shall, upon the final closing of the Offering, issue a number of Class A Ordinary Shares to the Initial Member equal to the aggregate number of Class A Ordinary Shares that remain unsold in the Offering, as repayment in full of any and all obligations owing to the Initial Member in respect of advances made to acquire the Artwork and true-up fees payable to the Initial Member. The name and mailing address of each Member or such Member’s representative shall be listed on the books and records of the Company maintained for such purpose by the Company or the Transfer Agent. (b) Prior to the date hereof and as set forth in the Original Agreement, the Initial Member has been issued 100% of the membership interests in the Company in return for a capital contribution of $100 (the “Prior Interests”). Upon execution of this Agreement, the Prior Interests shall be automatically converted into 1,000 Class B Ordinary Shares. As of the date of such conversion, the Class B Ordinary Shares shall constitute all of the membership interests of the Company and, prior to the issuance of Class A Ordinary Shares, Class A Preferred Shares and Class C Ordinary Share, shall have all of the rights and privileges of 100% of the membership interests in the Company afforded pursuant to this Agreement and applicable law. (c) Notwithstanding any provision to the contrary in this Agreement, the Board shall have full power and authority to schedule one or more closings to issue Class A Ordinary Shares and admit Members to the Company in accordance with the provisions of this Agreement. Any Person that acquires Class A Ordinary Shares and is admitted as a Member of the Company after the date hereof, shall, in connection with such Member’s acquisition of such Class A Ordinary Shares, be deemed to pay to the Company such Member’s pro rata share of any amounts used to acquire the Artwork, including any true-up fees and any other amounts paid to the Company by the previously admitted Members. (d) The Class A Members may elect to convert their Class A Preferred Shares into Class A Ordinary Shares, in whole or in part, at any time prior to the consummation of the Sale of the Artwork, subject to the terms and conditions herein, for no additional consideration. Each Class A Preferred Shares will automatically convert to one Class A Ordinary Share upon any Transfer of such Class A Preferred Shares to an entity that is not an Affiliate of the Administrator. (e) The Class B Members may elect to convert their Class B Ordinary Shares into Class A Ordinary Shares, in whole or in part, at any time prior to the consummation of the Sale of the Artwork, subject to the terms and conditions herein, for no additional consideration pursuant and to the following conversion formula: The number of Class A Ordinary Shares issuable upon conversion of Class B Ordinary Shares shall equal (A) the Value Increase, multiplied by (B) the Conversion Percentage, multiplied by (C) 20%, divided by (D) the Class A Ordinary Share Value. For purposes herein:

  • Limited Partner The name and address of the New Limited Partner of the Partnership is 0000 X. Xxxx Xxxxx Xxxxxxxxx, 0xx Xxxxx, Xxxxx, Xxxxxxx 00000. The names and addresses of any other Limited Partners shall be set forth on Exhibit B, as amended from time to time, attached hereto and incorporated herein by this reference. The Partnership Interest of a Limited Partner shall be referred to herein as a “Limited Partnership Interest.”

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