Supplemental Unemployment Benefit (SUB Sample Clauses

Supplemental Unemployment Benefit (SUB a) Upon submission of proof of coverage under Employment Insurance (EI) benefits for Maternity, Parental or Adoption Leave, the Employer will pay the difference between the EI benefit and ninety-three percent (93%) of the Teaching Faculty Member’s annual base salary for those weeks for which the EI benefit applies. The Employer will pay ninety-three percent (93%) of the Teaching Faculty Member’s annual base salary for the two (2) week waiting period required for an EI eligible leave. b) Proof of EI coverage is not available until after the Maternity, Parental or Adoption Leave has commenced and hence the Employer SUB payments will be retroactive. Proof of EI coverage must be provided within one calendar month of commencing the leave.
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Supplemental Unemployment Benefit (SUB a) Upon submission of proof of coverage under Employment Insurance (EI) benefits for maternity, parental or adoption leave, the Employer will pay the difference between the EI benefit and ninety-three percent (93%) of the Teaching Faculty Member’s annual base salary for those weeks for which the EI benefit applies. The Employer will pay ninety-three percent (93%) of the Teaching Faculty Member’s annual base salary for the one (1) week waiting period required for an EI eligible leave. b) At the end of the parental or adoption leave, the Employer will pay one (1) additional week of payments equivalent to ninety-three percent (93%) of the salary that the Teaching Faculty Member would have otherwise earned during the period. c) Proof of EI coverage is not available until after the maternity, parental or adoption leave has commenced and hence the Employer SUB payments will be retroactive. Proof of EI coverage must be provided within one (1) calendar month of commencing the leave. d) The calculation of the SUB shall be calculated on the Teaching Faculty Member’s salary effective the day before the Teaching Faculty Member starts the leave. e) The SUB shall be recalculated during a maternity, parental or adoption leave for a Teaching Faculty Member who would have otherwise been awarded any ATB, CDI, promotion increment and/or AI increase during the period of the leave.
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Supplemental Unemployment Benefit (SUB a) Upon submission of proof of coverage under Employment Insurance (EI) benefits for Maternity, Parental or Adoption Leave, the Employer will pay the difference between the EI benefit and ninety-three percent (93%) of the Faculty Member’s annual base salary for those weeks for which the EI benefit applies. The Employer will pay ninety-three percent (93%) of the Faculty Member’s annual base salary for the two (2) week waiting period required for an EI eligible leave. b) Proof of EI coverage is not available until after the Maternity, Parental or Adoption Leave has commenced and hence the Employer SUB payments will be retroactive. Proof of EI coverage must be provided within a calendar month of commencing the leave. c) The calculation of the SUB shall be calculated on the Faculty Member’s salary effective the day before the Faculty Member starts the leave. d) The SUB shall be recalculated during a Maternity, Parental or Adoption leave for a Faculty Member who would have otherwise been awarded any ATB, CDI, promotion increment and/or AI increase during the period of the leave.
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Supplemental Unemployment Benefit (SUB. 14.1 During the term of the Collective Agreement, employees who are laid off work shall receive a Supplemental Unemployment Benefit allowance from the Company, which altogether with Employment Insurance benefits shall equal seventy-five percent (75%) of the employee’s normal weekly earnings, less overtime and other premium payments. The terms governing payment of the SUB shall conform to the requirements of the Canada Employment Insurance Commission (C.E.I.C.) and shall include the following provisions: a) An employee must have completed a minimum of five-hundred and twenty (520) working days of service with the Company at date of layoff in order to qualify for SUB benefits. Eligibility is as follows: b) SUB benefits will be payable only to those employees on layoff who are eligible for and where applicable, have received Employment Insurance benefits in each week of layoff. A week of layoff shall mean a period of seven (7) consecutive days commencing on and including Sunday. c) An employee must provide the necessary proof of eligibility for SUB in a manner acceptable to the Company. d) An employee shall not be entitled to SUB after: i) He/she has refused a call back to work in accordance with the provisions of the Collective Agreement; or ii) He/she is receiving sickness and accident indemnity payments under the Company plan, Workers’ Compensation or severance pay in any week of layoff. e) The benefit level paid under this plan is set at seventy-five percent (75%) of the employee’s normal weekly salary. It is understood that in any one week the total amount of SUB, Employment insurance gross benefits and any other earnings received by the employees will not exceed ninety-five percent (95%) of the employee’s normal weekly earnings. f) No employee shall be paid SUB for more than twenty-six (26) weeks. g) The payment of benefits to employees on layoff will be made on the next regular payroll, following proof of EI payment. h) Service Canada will be advised in writing of any change to the plan within thirty (30) days of the effective date of the change. Payments of guaranteed annual remuneration, deferred remuneration, or severance pay will not be reduced or increased by payments received under the SUB plan.
Sample 1
Supplemental Unemployment Benefit (SUB. (a) Eighty percent (80%) of the current salary during the first two (2) weeks of the leave. (b) Thereafter, for a period of fifteen (15) weeks, the difference between eighty percent (80%) of the normal salary and the Employment Insurance maternity benefit to the member, ie: the combined weekly rate of Employment Insurance benefit and the supplemental unemployment benefit payments will not exceed eighty percent (80%) of the member’s normal weekly earnings. (c) The member must apply for and be in receipt of Employment Insurance benefits to receive SUB except if non-receipt is due to: - insufficient insured weeks to qualify for Employment Insurance. - serving the Employment Insurance waiting period. - entitlement to Employment Insurance exhausted. Verification is required. (d) Members do not have a right to SUB payments except for supplementation of Employment Insurance benefits during the employment period as specified herein.
Sample 1

Related to Supplemental Unemployment Benefit (SUB

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations in regard to maternity, parental and adoption leave. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Articles 17.06, 17.07 or 17.08.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • Other Employment Benefits During the Employment Term, the Executive shall be entitled to the following employment benefits: (a) four (4) weeks of paid vacation in each fiscal year of EDGEN while the Executive is employed hereunder (one week of which, if not used by the Executive in any given fiscal year, may be carried over to the next fiscal year; provided, that the Executive shall not have more than five (5) weeks of paid vacation in any given fiscal year as a result of such carry over), and sick leave in accordance with EDGEN’s policies from time to time in effect for executive officers of EDGEN; provided, that, except as provided herein, vacation and/or sick leave time not used in any year may not be carried over or transferred from one year to another or converted to cash, except in a year in which there is a Change of Control (as hereinafter defined) where the Executive is no longer employed; (b) participation, subject to qualification requirements, in medical, life or other insurance or hospitalization plans and long-term disability policies which are presently in effect or hereinafter instituted by EDGEN and applicable to its executive officers generally; (c) participation, subject to classification requirements and continued maintenance thereof by EDGEN in other Executive benefit plans, such as pension and profit sharing plans, which are from time to time applicable to EDGEN’s executive officers generally; (d) an automobile allowance of $1,200 per month, which shall be used by the Executive to cover all lease and insurance payments with respect to one automobile of the Executive’s choice for business purposes, which automobile’s retail value shall not exceed $75,000. The Executive shall provide proof of insurance in limits and with a company approved by EDGEN. EDGEN shall also be listed as a “named insured” under the policy. EDGEN shall reimburse the Executive, upon the presentation of appropriate receipts, for all reasonable and necessary maintenance, repair and gasoline costs incurred by the Executive in connection with the use of such automobile; provided, that such costs are directly related to the performance by the Executive of his obligations to EDGEN and/or to Parent hereunder; (e) EDGEN shall purchase (subject to the insurability of the Executive at standard rates) a life insurance policy in the amount of $1,000,000 on the life of the Executive to provide benefits under Section 5.2 (b) hereof; and (f) a supplemental payment of $9500 per annum (the “Supplemental Payment”), which shall be paid in accordance with EDGEN’s customary payroll practices which are in effect from time to time during the Employment Term.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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