RETIREMENT AGE AND BENEFITS Sample Clauses

RETIREMENT AGE AND BENEFITS. Retirement age and benefits are governed under the Ontario Municipal Employees Retirement System. Specific information is available to each employee through the Employer.
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RETIREMENT AGE AND BENEFITS. A An employee, upon retirement, shall be paid a retirement benefit of one hundred sixty- five dollars ($165) for each year of district seniority as defined in Article 9. Employees hired on or after July 1, 2013 shall not be eligible for the retirement benefit of one hundred sixty-five dollars ($165) for each of district seniority. 1. Employees upon retirement from the district shall have termination payments (including unused sick days, vacation payoff, years of service retirement benefit and retirement incentive if applicable) deposited to an employer sponsored special pay deferral plan (Special Pay 403b).
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RETIREMENT AGE AND BENEFITS. 17.1 An employee, upon retirement, shall be paid a retirement benefit of one hundred sixty- five dollars ($165) for each year of district seniority as defined in Article 9. If such employee does not qualify for retirement benefits with regard to length of service as specified by the Public School Employees Retirement System, the Xxxxxxxxxx retirement benefit shall be calculated and paid on the basis of creditable service according to the Public School Employees Retirement System. 17.2 Retirement shall be defined as:
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RETIREMENT AGE AND BENEFITS. 24 ARTICLE 18 Insurance........................................................................ 25 ARTICLE 19 Longevity........................................................................ 28
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RETIREMENT AGE AND BENEFITS. 17.1 An employee, upon retirement, shall be paid a retirement benefit of one hundred sixty- five dollars ($165) for each year of district seniority as defined in Article 9. Employees hired on or after July 1, 2013 shall not be eligible for the retirement benefit of one hundred sixty-five dollars ($165) for each of district seniority.
Sample 1
RETIREMENT AGE AND BENEFITS. 17.1 An employee, upon retirement, shall be paid a retirement benefit of one hundred sixty- five dollars ($165) for each year of district seniority as defined in Article 9. Employees hired on or after July 1, 2013 shall not be eligible for the retirement benefit of one hundred sixty-five dollars ($165) for each of district seniority. If such employee does not qualify for retirement benefits with regard to length of service as specified by the Public School Employees Retirement System, the Xxxxxxxxxx retirement benefit shall be calculated and paid on the basis of creditable service according to the Public School Employees Retirement System. 17.2 Retirement shall be defined as:
Sample 1
RETIREMENT AGE AND BENEFITS. A. Employee retirement age shall be in accordance with School Board Policy and Article 14A of the N.Y.S.
Sample 1
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Related to RETIREMENT AGE AND BENEFITS

  • Compensation and Benefits Subject to the terms and conditions of this Agreement, during the Employment Period, while Executive is employed by the Employer, the Employer shall compensate Executive for Executive’s services as follows for periods following the Effective Date: (a) Executive shall be compensated at an annual rate of $290,000 (the “Annual Base Salary”), which shall be payable in accordance with the Employer’s normal payroll practices as are in effect from time to time. Beginning on January 1, 2012 and on each anniversary of such date, Executive’s rate of Annual Base Salary shall be reviewed by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the “Board”), and following such review, the Annual Base Salary may be adjusted upward but in no event will it be decreased. (b) Executive shall be entitled to receive performance based annual incentive bonuses (each, the “Incentive Bonus”) from the Employer for each fiscal year ending during the Employment Period. Any such Incentive Bonus shall be paid to Executive within thirty (30) days of the completion of the annual audit by the Company’s auditor, but in no event later than two and one-half months after the close of each such fiscal year. Executive’s target Incentive Bonus shall be not less than forty percent (40%) of the Annual Base Salary, which Incentive Bonus shall be determined by specific performance criteria established from time to time by the Compensation Committee. (c) Executive shall be eligible to participate, subject to the terms and conditions thereof, in all other incentive plans and programs, including such cash and deferred bonus programs and equity incentive plans as may be in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. Executive and Executive’s dependents, as the case may be, shall be eligible to participate in all pension and similar benefit plans (qualified, non-qualified and supplemental), profit sharing, 401(k), as well as all medical and dental, disability, group and executive life, accidental death and travel accident insurance, and other similar welfare benefit plans and programs of the Employer, subject to the terms and conditions thereof, as in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. (d) Executive shall be entitled to accrue vacation at a rate of no less than four (4) weeks paid vacation for each calendar year, subject to the Employer’s vacation programs and policies as may be in effect during the Employment Period. (e) Executive shall be reimbursed by the Employer, on terms and conditions that are substantially similar to those that apply to other similarly situated executives of the Employer, for reasonable out-of-pocket expenses for entertainment, travel, meals, lodging and similar items which are consistent with the Employer’s expense reimbursement policy and actually incurred by Executive in the promotion of the Employer’s business.

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