Tax Status of Benefits Sample Clauses

Tax Status of Benefits. The tax position of any payments you receive under this benefit depends on whether you or your employer pays the cost of the benefit. If your employer pays a portion or all of the cost, then any disability benefit payments you receive will be taxable. If you pay the full cost of the benefit, then any disability benefit payments you receive will be non-taxable.
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Tax Status of Benefits. In the event that provision of any of the benefits listed above would adversely affect the tax status of the applicable plan or benefits, the Company, in its sole discretion, may elect to pay to Employee cash in lieu of such coverage in an amount equal to the Company's contribution or average cost of providing such coverage. (i) Continued Vesting and Exercisability. Under the Atkore International Group Inc. 2016 Omnibus Incentive Plan and the Company's earlier Atkore International Group Inc. Stock Incentive Plan and all documents related thereto, the Company agrees that Employee shall, pursuant to Board of Director's approval, be treated as if he qualified for retirement under the Rule of67. The full terms of the Rule of67 shall apply to Employee's equity grants, but for clarity, Employee shall be entitled to a period of continued vesting for 36 months after the Retirement Date for all awards granted prior to the Retirement Date. During this period of continued vesting, Employee shall, subject to remaining a Designated Insider for the six ( 6) months inunediately following the Retirement Date, be entitled to exercise (and sell) any vested options, restricted stock units and any performance share units upon conversion into shares of common stock (so long as such exercise or conversion occurs before the expiration of the relevant grant); however, Employee is not required to sell owned shares of common stock and may continue to hold such shares for as long as Employee so chooses. All awards (or portions of awards) not vested during the continued vesting period shall be forfeited by the Employee. As of the Retirement Date, no retention guidelines shall apply to Employee. Except as otherwise provided in this paragraph and as applies under the Rule of 67, the tenns and conditions of the respective incentive plans shall apply. To the extent Employee serves the Company as a Director after the Retirement Date, he shall continue to be a Designated Insider and such designation shall continue nntil six ( 6) months after he ceases being a Director. For the avoidance of doubt, Employees last date of service shall be his Retirement Date regardless of whether he serves the Company in any other capacity (e.g. as a consultant or a director) after that date. 2
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Tax Status of Benefits. In the event that provision of any of the benefits listed above would adversely affect the tax status of the applicable plan or benefits, the Company, in its sole discretion, may elect to pay to Employee cash in lieu of such coverage in an amount equal to the Company’s contribution or average cost of providing such coverage.
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Tax Status of Benefits. The tax position of any paymentsyou receive under this benefit depends on whether you or your employer pay the cost of the benefit.
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Tax Status of Benefits. The tax position of any payments you receive under this benefit depends on whether you or your employer pays the cost of the benefit. If your employer pays a portion or all of the cost, then any disability benefit payments you receive will be taxable. If you pay the full cost of the benefit, then any disability benefit payments you receive will be Payment of Disability Benefits Disability benefit payments will be made monthly in arrears. Any payment for a period of less than one month will be according to the formula used by Manulife Financial. SCHOOL DISTRICT NO. (WEST VANCOUVER) Support Staff Long Term Disability Rehabilitation Assistance Once Manulife Financial determines that you are Totally Disabled, if appropriate, and at Manulife Financial's discretion, you may be offered rehabilitation to assist you in returning to gainful employment, either to your occupation or to another occupation. In considering whether Rehabilitation Assistance is appropriate for you, Manulife Financial will take into account: the nature, extent and expected duration of your disability your level of education, training or experience the nature, scope, objectives and cost of a Vocational Plan Vocational Plan A Vocational Plan is a training or job replacement program that is expected to facilitate your return to gainful employment. If it is determined that Rehabilitation Assistance is appropriate for you, in partnership with you and your employer, Manulife Financial will provide a structural Vocational Plan that will prepare you for a return to work, either: with your employer with an alternate employer in a self-employed capacity Disability Benefits During Rehabilitation You will continue to be entitled to disability benefits while participating in the Vocational Plan. If you receive any earnings as part of the plan, your disability benefit will be reduced by of your rehabilitation income if total income from all sources exceeds of your net earnings your benefit will be reduced by the excess amount. Benefits will cease when your rehabilitation income equals or more of the current monthly earnings of your normal occupation. Benefits will be paid for a maximum period of months unless payments cease earlier as above. If you cease to participate in the Vocational Plan because of a change in your medical status, Manulife Financial will require medical evidence documenting how your current medical status prevents you from continuing with the Vocational Plan. If you are no longer ava...
Sample 1
Tax Status of Benefits. The tax position of any payments you receive under this benefit depends on whether you or your employer pays the cost of the benefit. If your employer pays a portion or all of the cost, then any disability benefit payments you receive will be taxable. If you pay the full cost of the benefit, then any disability benefit payments you receive will be Payment of Disability Benefits Disability benefit payments will be made monthly in arrears. Any payment for a period of less than one month will be according to the formula used by Manulife Financial. SCHOOL DISTRICT NO. (WEST VANCOUVER) Support Staff Long Term Disability Rehabilitation Assistance Once Manulife Financial determines that you are Totally Disabled, if appropriate, and at Manulife Financial's discretion, you may be offered rehabilitation to assist you in returning to gainful employment, either to your occupation or to another occupation. In considering whether Rehabilitation Assistance is appropriate for you, Manulife Financial will take into account: the nature, extent and expected duration of your disability your level of education, training or experience the nature, scope, objectives and cost of a Vocational Plan Vocational Plan A Vocational Plan is a training or job replacement program that is expected to facilitate your return to gainful employment. If it is determined that Rehabilitation Assistance is appropriate for you, in partnership with you and your employer, Manulife Financial will provide a structural Vocational Plan that will prepare you for a return to work, either: with your employer with an alternate employer in a self-employed capacity
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Tax Status of Benefits. In the event that provision of any of the benefits listed above would adversely affect the tax status of the applicable plan or benefits, Employer, in its sole discretion, may elect to pay to the Employee cash in lieu of such coverage in an amount equal to Employer’s contribution or average cost of providing such coverage (or, in the case of benefits that Employee is to continue at his own expense, shall subsidize Employee’s purchase of such benefits such that his out-of-pocket expense is no greater than if he had been able to purchase such coverage under the applicable Employer plan or benefit).
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Tax Status of Benefits. In the event that provision of any of the benefits listed above would adversely affect the tax status of the applicable plan or benefits, the Company, in its sole discretion, may elect to pay to Executive cash in lieu of such coverage in an amount equal to the Company’s contribution or average cost of providing such coverage. (l) Transfer or Rehire. After the date of this Agreement, Executive will not be eligible to receive any other salary, bonus or benefits from the Company other than as provided in this paragraph 2. Further, if Executive accepts a transfer or is rehired as an employee, consultant or independent contractor by any entity, affiliate or subsidiary of the Company, any remaining Salary Continuation Benefit and Bonus Installments that Executive has not yet received will discontinue upon the respective transfer or rehire date. (m)
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Related to Tax Status of Benefits

  • Payment of Benefits a) In computing the amount of disability benefits, disability will be considered as starting from the first day of disability; however, an employee must be certified by a medical practitioner for the disability within the first three days of disability. In the event that the employee is not certified within the first three days, disability will be considered as starting two complete days prior to the day that the employee is actually certified by a medical practitioner.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Coordination of Benefits The coordination of benefits (COB) provision applies when a Member has health care coverage under more than one plan. Plan is defined below. The order of benefit determination rules govern the order in which each plan will pay a claim for benefits. The plan that pays first is called the primary plan. The primary plan must pay benefits according to its policy terms without regard to the possibility that another plan may cover some expenses. The plan that pays after the primary plan is the secondary plan. In no event will a secondary plan be required to pay an amount in excess of its maximum benefit plus accrued savings. If the Member is covered by more than one health benefit plan, and the Member does not know which is the primary plan, the Member or the Member’s provider should contact any one of the health plans to verify which plan is primary. The health plan the Member contacts is responsible for working with the other plan to determine which is primary and will let the Member know within 30 calendar days. All health plans have timely claim filing requirements. If the Member or the Member’s provider fails to submit the Member’s claim to a secondary health plan within that plan’s claim filing time limit, the plan can deny the claim. If the Member experiences delays in the processing of the claim by the primary health plan, the Member or the Member’s provider will need to submit the claim to the secondary health plan within its claim filing time limit to prevent a denial of the claim. If the Member is covered by more than one health benefit plan, the Member or the Member’s provider should file all the Member’s claims with each plan at the same time. If Medicare is the Member’s primary plan, Medicare may submit the Member’s claims to the Member’s secondary carrier.

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