Salary Fund Sample Clauses

Salary Fund. (1) General As of October 22, 2015, all Company contribution provisions and requirements under the 1988, 1990, 1993, 1996, 1999, 2003, 2007 and 2011 (as amended per the 2009 Settlement Agreement) SUB Plans shall cease and no further contributions as previously required shall be placed into the Salary Fund. The Salary Fund balance shall be used to pay Regular Benefits and Separation Payments due and payable under this 2015 Plan.
Sample 1
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Salary Fund. The Company’s total financial liability for the cost of the SUB Plan, including Company contributions (as determined under Section 2(b)(2)) to the Salary Fund for the payment of Regular Benefits (including amounts owed to the Company or trustees of other Company plans or programs, as applicable, which were offset against Regular Benefits), Automatic Short Week Benefits and payments under the Letter Agreements (excluding any VTEP payments) attached to this Plan paid by the Company, shall be limited to the amount of the SUB Maximum Financial Liability Cap for Salaried Employees. Such Cap shall be established at $26 million on the Effective Date of the Agreement. If and when that amount is spent, the Company’s total remaining financial liability during the term of the Agreement shall be equal to the greater of (aa) the average monthly expenditure up to that point in the Agreement, or (bb) the average monthly expenditure for the 12 full months immediately prior thereto, times the lesser of the number of months, and fraction thereof, remaining until expiration of the Agreement, or 12. Notwithstanding the foregoing, the Company’s total remaining financial liability after such calculation shall not exceed $5 million.
Sample 1
Salary Fund. The Maximum Funding of the Salary Fund for each calendar month shall be determined by multiplying the Average Full Benefit Rate by 9 and this result by the sum of the average number of Salaried Employees:
Sample 1

Related to Salary Fund

  • Salary/Wages Grantee shall list personnel involved, position classification, direct salary rates, and hours spent on the Project in accordance with Attachment 3, Grant Work Plan in their documentation for reimbursement or match requirements.

  • SALARY LIMITATION The Grantee cannot use the SAPT Block Grant to pay salaries in excess of Level I of the Federal Senior Executive pay scale.

  • Salary Sacrifice Employees may sacrifice their pre-tax earnings, subject to such arrangements being made for legitimate purposes such as additional superannuation contributions. The amount of salary sacrifice being deducted from pre-tax earnings shall be deducted from gross earnings with each pay period. Any such arrangements must be requested, varied or amended in writing, providing no les than one months notice to the Company. A Salary Sacrifice Request Form is attached as a schedule to this Agreement for this purpose. The Company recommends that employees seek independent financial advice prior to entering into salary sacrifice arrangement. The amount of any salary sacrifice income requested must be a fixed sum, without variation from one pay period to the next. The company shall implement employee requests to commence salary sacrifice arrangements at four (4) times a year, on the first full pay period on or after the 1st July, 1st October, 1st January and 1st April. Where adverse tax and/or superannuation changes occur, the Company or employee may terminate these salary sacrifice arrangements. Where a decision to terminate is made, employees will be given one month’s notice in writing.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Deferred Salary Scheme Employees may apply to have their salary payments deferred in accordance with the provisions of this clause.

  • Employee Contribution Eligible employees shall contribute one percent (1%) of their salary on a per pay period basis to the HCSP.

  • Salary and bonus ii. Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.

  • Salary Grids Classifications and salary rates are attached as Schedule "A" and forms part of this Collective Agreement. The years referred to in the salary schedules shall mean years of continuous service with the Employer in the designated classification, plus the applicable allowances under 23.04. Years of service on the new grid may not relate to the employee’s service level as a result of April 1, 2007 harmonization of the grids and blending the bargaining units.

  • SALARY STEP PLAN AND SALARY ADJUSTMENTS 198. Appointments to positions in the City and County Service shall be at the entrance rate established for the position except as otherwise provided herein.

  • Employee Contributions (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.

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