Supplemental Benefit Plan. “Supplemental Benefit Plan,” when immediately preceded by “Clearwater,” means the Potlatch Forest Products Corporation Salaried Employees’ Supplemental Benefit Plan II. When immediately preceded by “Potlatch,” “Supplemental Benefit Plan” means the non-qualified supplemental excess benefit retirement plan to be established by Potlatch pursuant to Sections 2.2 and 5.1 that corresponds to the Clearwater Supplemental Benefit Plan.
Supplemental Benefit Plan. EMPLOYEE shall be entitled to participate, either individually or through a separate trust or entity, in a Supplemental Death Benefit Agreement (“Plan”) with an insurer of EMPLOYEE’s election, as follows:
A. LSU, TAF, EMPLOYEE and any other participating entity shall enter into separate agreements, including a Supplemental Death Benefit Agreement, Collateral Assignment and Promissory Note, to secure this benefit and the rights of LSU and TAF accordingly. To the extent there is conflict with this Section, the provisions of the Supplemental Death Benefit Agreement, Collateral Assignment and Promissory Note (collectively “Plan Documents”) shall prevail.
B. LSU, through TAF, will advance premium loans of no more than $5,000,000 toward the Plan, payable in two installments of $2,500,000 each. The first installment shall be payable upon execution of the Plan Documents, which shall occur not more than 15 days after execution of this Agreement. The second installment shall be payable no later than January 15, 2021. The obligation to make the premium loans shall be determined by the Plan Documents.
C. LSU and TAF shall retain an interest in any proceeds payable under the life insurance policy obtained and maintained in connection with the Plan for the total amount of the “Liability” (as that term is defined in the Supplemental Death Benefit Agreement) and such interest shall survive the termination of this Agreement for any reason.
D. It is the intention of the parties that the Plan and associated documents will satisfy the requirements of federal tax law governing loan regime split-dollar arrangements and all reporting of income, benefits or other amounts shall be made by the parties, as well as any trust or entity established by EMPLOYEE, in a manner that is in accordance with applicable Internal Revenue Service rules and regulations governing loan regime split-dollar arrangements.
E. EMPLOYEE shall be entitled to one-time compensation of up to $20,000, as established with appropriate documentation, for legal expenses associated with the Plan Documents, including without limitation, its negotiation and documentation in the context of this Agreement.
Supplemental Benefit Plan. (a) On an annual basis (first week of September), the University will provide $275,000 a pool of money for the supplemental benefits plan for employees covered by the terms of the Unit 1 and 2 Agreements. The value of the pool will be as follows: (Clarification note: the amount noted above is the combined total for both the Unit 1 and Unit 2 Agreements). Members apply through the Union to receive benefits.
Supplemental Benefit Plan. The Company shall provide the Executive various retirement benefits under the provisions of the Company’s Supplemental Benefit Plan as described in Exhibit A attached hereto. The Company may, from time to time, amend the Supplemental Benefit Plan prospectively.
Supplemental Benefit Plan. 21.01 The Company agrees to provide for each hourly paid employee, a layoff, sickness, injury or short week benefit plan. In order to be entitled to benefits under the Supplemental Benefit Plan an individual must have been an employee of the Company for a minimum period of twelve (12) months. The details of the plan are as follows: Layoff benefits
[a] An employee that meets the above service requirements shall be eligible to receive during layoff, up to four (4) weeks pay calculated at the rate of Ten Dollars ($10.00) per day. For the purpose of calculation, a week shall be defined as five (5) days. For an employee with over twelve
Supplemental Benefit Plan. In addition to the above contribution, the District will contribute the following amount per month for the supplemental benefit plan. See accompanying chart for specific contributions based on an individual’s percentage of contract. District Contribution SY 2017 - 18 & 2018 - 19 Effective with the 2006 - 2007 school year, nurses newly hired may use the supplemental benefit contribution for the following options in the benefit program: medical insurance, dental insurance, vision insurance, cancer insurance, accident insurance, cost of dependent coverage, healthcare reimbursement, or dependent care reimbursement. Nurses who were under contract during the 2005 - 2006 school year and continuously thereafter shall have the additional option to convert unused benefit contributions to additional compensation. Effective July 1, 2014, according to federal law, employees who participate in the Flexible Spending Account (FSA) will have up to $41.66 per month, ($500.00 Employer Contribution) of the supplemental benefit contributed to their FSA. Additionally, employee may elect to contribute an additional $2,500.00 to their FSA (an additional $208.33 per month) from their salary for a total of $3,000.00 annually.
Supplemental Benefit Plan. (a) Establishment of Southern Energy Supplemental Benefit Plan. Effective as of the Group Status Change Date, Southern Energy shall establish the Southern Energy Supplemental Benefit Plan which shall be comparable to the Southern Supplemental Benefit Plan. As of the Group Status Change Date, Southern Energy shall assume all Liabilities to or relating to the Southern Energy Employees under the Southern Supplemental Benefit Plan. As of the Group Status Change Date, Southern shall assume all Liabilities to or relating to Southern Energy Retired Employees under the Southern Supplemental Benefit Plan.
Supplemental Benefit Plan. (a) On an annual basis (first week of September), the University will provide a pool of money for the supplemental benefits plan for employees covered by the terms of the Unit 1 and 2 Agreements. The value of the pool will be as follows: 2019/20 - $300,000 2020/21 - $325,000 2021/22 - $350,000 2022/23 and every year thereafter - $375,000 (Clarification note: the amount noted above is the combined total for both the Unit 1 and Unit 2 Agreements). Members apply through the Union to receive benefits.
(b) The Union will provide, to the University, on an annual basis, a report summarizing the allocations of the University’s contributions.
(c) The University’s sole obligation under Art. 19.02 (a) and 19.02 (b) is to provide the above- noted payments to the Union within the relevant time periods. The Union will indemnify and save the University harmless from any and all claims which may be made against it by an employee(s) for amounts provided in this Article.
Supplemental Benefit Plan. 21.01 The Company agrees to provide for each hourly paid employee, a layoff, sickness, injury or short week benefit plan. In order to be entitled to benefits under the Supplemental Benefit Plan an individual must have been an employee of the Company for a minimum period of twelve Layoff benefits
[a] An employee that meets the above service requirements shall be eligible to receive during layoff, up to four (4) weeks pay calculated at the rate of Ten Dollars ($10.00) per day. For the purpose of calculation, a week shall be defined as five (5) days. For an employee with over twelve (12) months service, one (1) week's lay-off benefit shall be added for each three (3) months of service in excess of the initial twelve (12) months. Examples of these payments are set out in the schedule which follows: [b] An employee must have been on lay-off for five (5) consecutive days. Once the employee has been on lay-off for five (5) days, payment shall be calculated from the first day of lay-off. [c] Payment shall be made only to an employee who is not working elsewhere. Short Week Benefit
[a] An employee that meets the service requirements referred to above shall be entitled to receive a short week benefit for any week in which some, but less than thirty-two (32) hours are worked, according to the following formula; [b] Benefits shall be calculated by multiplying the employee's hourly wage rate by the difference between thirty-two (32) hours and the sum of the hours, [i] he/she worked during the week, and [ii] he/she did not work, but for which he/she was paid by the Company, and [iii] he/she did not work for reasons other than lack of work. In no event shall payments be made where the lay-off has occurred due to work stoppage which was caused by fire, flood, earthquake, explosion, act of God, insurrection, riot, etc. or any work stoppage beyond the control of the Company.
21.02 When an employee who has been receiving benefits, with the exception of short week benefits, under the provisions of this Article returns to work, he/she shall be required to work thirty (30) working days before becoming entitled to receive such benefits for a successive time.
21.03 SERVICE SCHEDULE OF BENEFITS MAXIMUM ENTITLEMENT MAXIMUM LAY-OFF BENEFIT
21.04 [a] Lay-off and short week benefits are paid out of current revenue. [b] A laid off employee must file a claim for unemployment insurance benefits. [c] A laid off employee who is disqualified or disentitled under the Unemployment Insurance A...
Supplemental Benefit Plan. A. An additional supplemental benefit plan will be established on October 1, 2019 for eligible participants as provided in paragraph 3B. This supplemental benefit plan is in addition to the benefits provided under the Firefighters’ Retirement System defined benefit pension plan. The supplemental benefit plan shall be funded solely and entirely by excess Ch. 175 premium tax revenues, as provided in paragraph 2 above, and earnings (or losses) on the premium tax revenues allocated to the supplemental benefit plan.
