Terms and Conditions of Self-funded Sabbaticals Sample Clauses

Terms and Conditions of Self-funded Sabbaticals. 36.3.1 The salary holdback (i.e., twenty percent for four years) will be kept in a special account and interest will be paid annually at an appropriate rate fixed by Inergi. 36.3.2 During the leave of absence (i.e., the fifth year):  The employee may not be declared surplus.  The employee is responsible for his/her health and dental benefits and shall be given option of continuing coverage under the Inergi plan through pre-payment.  The employee’s entitlement to group life, living benefit and spousal life insurance benefits shall continue pursuant to Article 21.  Inergi shall pay the sum accumulated in the trust to the participating employee in a lump sum or in regular installments. 36.3.3 As a condition of approving a self-funded sabbatical arrangement, Inergi may require the participating employee to sign a written commitment to return to Inergi following the expiry of the leave for a period not to exceed the length of the leave (i.e., maximum one year)
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Terms and Conditions of Self-funded Sabbaticals. 37.3.1 The salary holdback (i.e., twenty percent for four years) will be kept in a special account and interest will be paid annually at an appropriate rate fixed by Hydro One. 37.3.2 During the leave of absence (i.e., the fifth year): The employee may not be declared surplus. The employee is responsible for his/her health and dental benefits and shall be given option of continuing coverage under the Hydro One plan through pre-payment. The employee’s entitlement to group life, living benefit and spousal life insurance benefits shall continue pursuant to Article 22. Hydro One shall pay the sum accumulated in the trust to the participating employee in a lump sum or in regular installments. 37.3.3 As a condition of approving a self-funded sabbatical arrangement, Hydro One may require the participating employee to sign a written commit ment to return to Hydro One followi ng the expiry of the leave for a period not to exceed the length of the leave (i.e., maximum one year
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