Service and Benefits Sample Clauses

Service and Benefits. Professional Employees shall retain credit for their length of service up to the time of termination or nonrenewal under Section 1 of this Article, but shall not be entitled to earn additional credit for service or receive benefits, thereafter.
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Service and Benefits. Professional Employees shall retain credit for their length of service up to the time of the reduction in force, but shall not be entitled to earn additional credit for service or receive benefits during the reduction in force.
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Service and Benefits. An employee on military leave with pay for emergency National Guard duty shall receive all benefits related to employment which are granted when an employee is on pay status. If not on pay status, the employee shall receive length-of-service credit provided that the employee returns to University service immediately after the emergency service is over. Such employee shall accrue vacation and sick leave and receive holiday pay in accordance with Article 14, Vacation, Article 13, Xxxx Leave, and Article 12, Holidays. Such employee may receive retirement benefits and service credit only in accord with the provisions of the applicable retirement system; may continue health plan coverage at the employee’s request and expense for a limited period of time as described in the University Group Insurance Regulations.
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Service and Benefits. An employee returning from a maternity or parental leave of absence within twelve (12) months will be reinstated to the job held at the time the leave commenced provided the job still exists. If the former job no longer exists, the employee will be placed in a comparable position with the same wages and benefits the employee would have received if the employee had not been granted maternity or parental leave. During periods of absence on maternity or parental leave, all regular benefit plan coverages will remain in force provided that the employee continues to pay her or his share. Long-term disability coverage and all voluntary or optional coverage must be maintained by the employee while on maternity or parental leave. Company service and trade seniority of an employee on approved maternity or parental leave shall be deemed continuous.
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Service and Benefits. Recall within an employee's period of recall eligibility does not create a break in service. Benefits and seniority accrue only when an employee is on pay status.
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Related to Service 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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