Statutory Deductions Sample Clauses
Statutory Deductions. All payments required to be made to the Executive, his beneficiaries, or his estate under this Section shall be made net of all deductions required to be withheld by applicable law and regulation. The Executive shall be solely responsible for the satisfaction of any taxes (including employment taxes imposed on employees and taxes on nonqualified deferred compensation). Although the Company intends and expects that the Plan and its payments and benefits will not give rise to taxes imposed under Code Section 409A, neither the Company nor its employees, directors, or their agents shall have any obligation to hold the Executive harmless from any or all of such taxes or associated interest or penalties.
Statutory Deductions. The Company shall deduct from the Salary, any bonus remuneration and any other payments and allowances provided for herein, all such amounts as are required by law to be withheld and deducted at source and shall remit the same to the required governmental authority or agency.
Statutory Deductions. The Company shall have the right to deduct and withhold from the Executive’s compensation any amounts required to be deducted and remitted under the applicable provincial laws or federal laws of Canada.
Statutory Deductions. 6.1 The Base Salary, any payments under the Bonus Plan or under Part 10 or 14, and any other payment, award, or benefit made or provided to the Executive under this Agreement or otherwise are subject to all required statutory deductions and withholdings, and any other amount required by law to be deducted or withheld from such payment.
Statutory Deductions. All payments required to be made to the Employee, his beneficiaries, or his estate under this Section shall be made net of all deductions required to be withheld by applicable law and regulation. The Employee shall be solely responsible for the satisfaction of any taxes (including employment taxes imposed on employees and taxes on nonqualified deferred compensation). Although the Company intends and expects that the Plan and its payments and benefits will not give rise to taxes imposed under Code Section 409A, neither the Company nor its employees, directors, or their agents shall have any obligation to hold the Employee harmless from any or all of such taxes or associated interest or penalties.
Statutory Deductions i. E.I. EI premiums are to be based on the employee's gross salary before deferrals during the period of deferral and no premiums are to be withheld from the deferred amounts when paid to the employee during the leave period.
ii. C.P.P. CPP premiums are to be based on the salary the employee actually receives - during both the deferral period and the leave period.
iii. INCOME TAX income Tax deductions are to be based on the salary the employee actually receives – during both the deferred period and the leave period.
Statutory Deductions. 13.1 All payments made under this Agreement are subject to any deductions required by law.
Statutory Deductions. (a) Pension deductions are to be continued as provided by the current ruling of the Teacher's Pension Plan Board during the terms of the teacher's participation in the above leave plan.
(b) Subject to the approval of the Teacher's Pension Board a teacher may, on return from the leave, make payment to the Teacher's Pension Board on the difference, if any, between the amount received in the term of absence and the amount which would represent 100% of the salary for the term of the absence.
(c) Income tax shall be deducted on the amounts received by the teacher during each year of the Plan in accordance with the income tax regulations in effect at that time. Canada Pension and E.I. deductions and credits shall similarly be determined by the regulations in effect at that time.
(a) Except by mutual consent, an election to participate in the Plan shall be irrevocable, provided however, that a teacher may withdraw from the Plan prior to March 1st of the calendar year in which the leave is to be taken. Repayment shall be as provided in 28.06(b) hereof.
(b) In the event that a suitable replacement cannot be hired for a teacher who has been granted a leave, the Board may defer the year of the leave by notifying the teacher prior to March 1st. In the event of such deferral, the teacher may choose to remain in the Plan or receive repayment as provided in 28.06(b) as aforesaid.
(c) Should any such deferral result in a leave of absence being taken past the final year of the Plan, any monies accumulated at the expiry date of the Plan shall continue to accumulate interest as provided in 28.04(c) hereof, until the leave of absence is granted, and subject to the one year maximum deferral limitation set out in 28.08(b) as aforesaid.
(d) In the event of a teacher's death while participating in the Plan, any monies accumulated, plus interest accrued [see 28.04(c)] at the time of death shall be paid to the teacher's estate or a beneficiary as designated by the teacher. In the event that the teacher has not made such a designation, the monies accumulated shall be paid to the teacher's estate.
Statutory Deductions. The obligation of the Corporation to make any payment hereunder shall, in each case, be subject to any and all withholdings and deductions required by law to be made by the Corporation.
Statutory Deductions a) During the funding period i) tax withholdings on the net salary after the deferred portion;