Special Benefits. Executive shall be allowed additional employer-paid benefits of his choice (“Special Benefits”), including the lease of automobiles, social, golf or athletic club memberships and other benefits not specifically provided for in this Agreement, provided, however, that the annual cost to ARC shall not exceed $10,000. Any employer taxes imposed upon ARC by reason of the furnishing of such Special Benefits shall be included in the annual $10,000 limitation. Any unused allowance for Special Benefits shall not be carried over to a subsequent year.
Special Benefits. A. Special Benefit in the Event of a Termination Event and Change in Control. Employee shall be entitled to a Change of Control benefit of $283,333 in the event that a “Change in Control” occurs within six months after, or within twelve months prior to a Termination Event (as defined herein). For purposes hereof, a “Change in Control” is defined as:
(a) The transfer or sale by Employer of all or substantially all of the assets of Employer whether or not this Agreement is assigned or transferred as a part of such sale;
(b) The transfer or sale of more than fifty percent (50%) of the outstanding shares of Common Stock of Employer;
(c) A merger or consolidation involving Employer in a transaction in which the shareholders of Employer immediately prior to the merger or consolidation own less than fifty percent (50%) of the company surviving the merger or consolidation; or
(d) A merger or consolidation involving Employer in a transaction in which the board members of Employer after the merger or consolidation constitute less than fifty percent (50%) of the board of the company surviving the merger or consolidation; or
(e) The voluntary or involuntary dissolution of Employer.
B. Special Benefit in the Event of
Special Benefits. (i) Subject to the availability of supplemental life insurance at commercially reasonable rates, the Company will pay the annual premiums, in an annual amount not to exceed $15,000, for a supplemental life insurance policy for Executive’s benefit with a policy payable value of not less than $500,000. Executive shall be subject to all required tax withholding in respect of such benefit.
(ii) The Company will reimburse Executive for up to $10,000 annually for reasonable financial planning and income tax services, subject to applicable tax withholdings and submission of the necessary receipts within thirty (30) days after the incurrence of the expense.
Special Benefits. The provisions of this agreement must not reduce any special benefits specified by verbal or written agreement.
Special Benefits. 8.01 Teachers, excluding newly hired Teachers who were provided with benefits in Article 8.03, are provided with personal travel allowance with the September pay cheque for themselves and each eligible dependent.
a) The September payment will be $400 for themselves and $325 for each eligible dependent.
8.02 Teachers are provided personal travel allowance with the June pay cheque for themselves and each eligible dependent. No part of this benefit shall be payable to teachers who leave the employment of the Board other than as defined in Article 19.04.
a) The June payment will be $400 for themselves and $325 for each eligible dependent.
8.03 Transportation charges equal to 90% of the total cost for furniture and personal belongings will be paid for by the Board for teachers coming to Yellowknife on the condition that the teacher completes this move within six (6) months of the teacher’s commencement of employment with the Board. If circumstances reasonably prevent the teacher from completing the move within the required six (6) months, the teacher may seek an extension of this allowable time period from the Superintendent which the Superintendent may grant at the Superintendent’s reasonable discretion. The maximum weight will be 2,250 kilograms (5,000 pounds) for a teacher without dependents; and 3,600 kilograms (8,000 pounds) for a teacher with dependents.
a) Personal travel will be paid for by the Board for Teachers and their eligible dependents coming to Yellowknife. Personal travel includes airfare or travel by privately owned car. If the teacher chooses to travel by car, allowable costs will include mileage, lodging and meal costs. The amount paid for travel by car shall not exceed the amount paid for travel by air.
b) Teachers not remaining with the Board for two (2) years shall be required to repay part of this special benefit pro-rated over two (2) years. The Board may waive this repayment requirement at their sole discretion. Repayment shall not apply when termination is caused by layoff.
Special Benefits. 8.01 For the school year 2016-2017, teachers, excluding newly hired Teachers who were provided with benefits in Article 8.03, are provided with $325 towards personal travel with the September pay cheque for themselves and each eligible dependent.
a) Commencing the school year 2017-2018, the September payment will be $350 for themselves and $325 for each eligible dependent.
b) Commencing the school year 2018-2019, the September payment will be $375 for themselves and $325 for each eligible dependent.
c) Commencing the school year 2019-2020, the September payment will be $400 for themselves and $325 for each eligible dependent.
8.02 For the school year 2016-2017, teachers are provided with $325 towards personal travel with the June pay cheque for themselves and each eligible dependent. No part of this benefit shall be payable to teachers who leave the employment of the Board other than as defined in Article 19.04.
a) Commencing the school year 2017-2018, the June payment will be $350 for themselves and $325 for each eligible dependent.
b) Commencing the school year 2018-2019, the June payment will be $375 for themselves and $325 for each eligible dependent.
c) Commencing the school year 2019-2020, the June payment will be $400 for themselves and $325 for each eligible dependent.
8.03 Transportation charges equal to 90% of the total cost for furniture and personal belongings will be paid for by the Board for teachers coming to Yellowknife. The maximum weight will be 2,250 kilograms (5,000 pounds) for a teacher without dependents; and 3,600 kilograms (8,000 pounds) for a teacher with dependents.
a) Personal travel will be paid for by the Board for Teachers and their eligible dependents coming to Yellowknife. Personal travel includes airfare or travel by privately owned car. If the teacher chooses to travel by car, allowable costs will include mileage, lodging and meal costs. The amount paid for travel by car shall not exceed the amount paid for travel by air.
b) Teachers not remaining with the Board for two (2) years shall be required to repay part of this special benefit pro-rated over two (2) years. The Board may waive this repayment requirement at their sole discretion. Repayment shall not apply when termination is caused by layoff.
8.04 a) Teachers leaving Yellowknife within one (1) year of the date of resignation, after completing a minimum of two (2) years experience with the Board, will receive removal assistance to a maximum of $1,500 plus $400 for eac...
Special Benefits. A. Special Benefit in the Event of a Change in Control. Employee shall be entitled to a Change of Control benefit of $500,000 in the event of a "Change in Control", defined as:
(a) The transfer or sale by Employer of all or substantially all of the assets of Employer whether or not this Agreement is assigned or transferred as a part of such sale;
(b) The transfer or sale of more than fifty percent (50%) of the outstanding shares of Common Stock of Employer;
(c) A merger or consolidation involving Employer in a transaction in which the shareholders of Employer immediately prior to the merger or consolidation own less than fifty percent (50%) of the company surviving the merger or consolidation; or
(d) A merger or consolidation involving Employer in a transaction in which the board members of Employer after the merger or consolidation constitute less than fifty percent (50%) of the board of the company surviving the merger or consolidation; or
(e) The voluntary or involuntary dissolution of Employer. However, if a Change in Control occurs, the Term shall be modified to end one (1) year from the date the Change in Control occurs, regardless of the remaining Term immediately prior to the Change of Control.
Special Benefits. Special benefits that have been practised or promised to the individual or all those covered by this agreement may not be impaired during the wage agreement period.
Special Benefits. A. Special Benefit in the Event of a Change in Control. Employee shall be entitled to a Change of Control benefit of $500,000 in the event of a "Change in Control", defined as:
(a) The transfer or sale by Employer of all or substantially all of the assets of Employer whether or not this Agreement is assigned or transferred as a part of such sale;
(b) The transfer or sale of more than fifty percent (50%) of the outstanding shares of Common Stock of Employer;
(c) A merger or consolidation involving Employer in a transaction in which the shareholders of Employer immediately prior to the merger or consolidation own less than fifty percent (50%) of the company surviving the merger or consolidation; or
(d) A merger or consolidation involving Employer in a transaction in which the board members of Employer after the merger or consolidation constitute less than fifty percent (50%) of the board of the company surviving the merger or consolidation; or
(e) The voluntary or involuntary dissolution of Employer. In addition, in the event of a Change in Control, all Restricted Stock owned by Employee shall immediately become Vested Shares, as such term is defined in the applicable grant agreement and plan documents.
B. Special Benefit in the Event of
Special Benefits. Notwithstanding the expiration of the Term on the Final Date or any earlier expiration of the Term,
(i) during the period beginning on the Final Date or, if earlier, the Date of Termination (such date, the "BEGINNING DATE") and ending on the three year anniversary of the Effective Time (the "EXTENDED PERIOD"), the Executive (and his eligible dependents) shall be entitled to receive continued Welfare Benefits to the extent provided to other peer executives who are actively employed by the Company during such period; provided that (i) such benefits are at least equal in the aggregate to those provided to the Executive immediately prior to the Beginning Date and (ii) if the Executive becomes employed by another employer and is eligible to receive medical and other welfare benefits under another employer provided plan, the Welfare Benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. For purposes of determining eligibility (but not the time of commencement) of the Executive for retiree benefits pursuant to the plans, practices, programs and policies of the Company, the Executive shall be considered to have remained employed with the Company during the Extended Period and to have retired on the last day of such period; and
(ii) the Company shall pay to the Executive in a lump sum in cash within 15 days of the Beginning Date, an amount equal to (x) the present value of the Executive's accrued benefits under The Dial Corporation Retirement Income Plan and The Dial Corporation Supplemental Pension Plan, or successor plans, in which the Executive was participating at the Effective Time (collectively, the "PENSION PLANS"), determined after giving effect to a period of additional years of pension credit under the Pension Plans equal to the Extended Period and assuming the Executive's age is the age he would have obtained as of the last day of the Extended Period, less (y) the present value of the Executive's accrued benefits under the Pension Plans at the Beginning Date, determined without regard to any additional years of age or pension service credit. Such FINAL present value shall be determined using actuarial assumptions and discount rates consistent with the Company's practice for financial reporting purposes in effect immediately prior to the Beginning Date. The continued Welfare Benefits, the period for determining eligibility for retiree benefits referred to in Section 4(l)(i) and pr...
