Common use of Taking the Leave of Absence Clause in Contracts

Taking the Leave of Absence. The taking of the Leave of Absence shall be governed by the following provisions: (i) The participants in the Plan shall give the University a minimum of six (6) months’ notice prior to taking of such leave. (ii) Participants must take the deferred leave after a maximum of six (6) years within the Plan or after the salary deductions have totalled 100%, whichever occurs first. Employees may, no later than six (6) months prior to this date, request a postponement of the commencement of their leave. This postponement shall not exceed more than twelve (12) months. (iii) On return from deferred leave, the employee will be returned to the same department and position as at the point of taking leave and with the applicable salary and benefits. Federal Income Tax Regulations require that employees return to work for a period equal to the duration of the leave; therefore, Deferred Salary Leave cannot serve as an early retirement benefit.

Taking the Leave of Absence. The taking of the Leave of Absence shall be governed by the following provisions: (i) The participants in the Plan shall give the University College a minimum of six (6) months’ months notice prior to taking of such leave. (ii) Participants must take the deferred leave after a maximum of six (6) years within the Plan or after the salary deductions have totalled 100%, whichever occurs first. Employees may, no later than six (6) months prior to this date, request a postponement of the commencement of their leave. This postponement shall not exceed more than twelve (12) months. (iii) On return from deferred leave, the employee will be returned to the same department and position as at the point of taking leave and with the applicable salary and benefits. Federal Income Tax Regulations require that employees return to work for a period equal to the duration of the leave; therefore, Deferred Salary Leave cannot serve as an early retirement benefit.