Common use of Terms and Conditions of Self-funded Sabbaticals Clause in Contracts

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)

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)