General Leave Provisions 21.1.1 Except where explicitly noted in Article 00 Xxxxx Xxxxx, the Employer may implement, modify, or eliminate the leaves of absence as outlined in this Article and consistent with all state and federal leave requirements. The Employer reserves the right to modify its Leave of Absence policies. The Employer will inform the Union of any material and substantial changes in its Leave of Absence policies prior to implementation.
Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:
LISTING RULES IMPLICATIONS As at the date of this announcement, ETIC is a substantial shareholder of the Company holding approximately 20.59% of the Company’ s share capital and is therefore a connected person of the Company under Chapter 14A of the Listing Rules. Guangdong ETLEC is a subsidiary of ETIC and thus constitutes a connected person of the Company by virtue of being an associate of ETIC. Accordingly, the transactions between the Group and Guangdong ETLEC constitute connected transactions of the Company under the Chapter 14A of the Listing Rules. As one or more of the applicable Percentage Ratios calculated based on the annual caps of considerations under the Agreement is more than 0.1% but less than 5%, the transactions under the Agreement are subject to the reporting, announcement and annual review requirements, but are exempted from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules. CONTINUING CONNECTED TRANSACTIONS UNDER THE AGREEMENT Principal Terms of the Agreement Parties : Huizhou NVC (as the licensor) Guangdong ETLEC (as the licensee) Transaction : Pursuant to the Agreement, Huizhou NVC grants Guangdong ETLEC an exclusive license to use certain PRC registered trademarks of Huizhou NVC, including trademarks comprising the “NVC” and “ 雷 士 ” brands, on certain Guangdong ETLEC’ s light source products and a sole license to use such registered trademarks on certain Guangdong ETLEC’ s non-light source products in the PRC. Licensing Fee : The trademark licensing fee is agreed based on arm’ s length negotiations and is on normal commercial terms, which will be 3% of Guangdong ETLEC’ s net sales (after deducting taxes) of products using licensed trademarks “NVC” and “雷士” with an annual cap of RMB18 million, RMB19.5 million, RMB21 million for each year of 2019, 2020 and 2021, respectively. Notwithstanding the above, under no circumstances shall the annual trademark licensing fee payable by Guangdong ETLEC be lower than RMB10 million. The licensing fee will be paid on a quarterly basis. Guangdong ETLEC shall pay the licensing fee for each quarter within 15 days after the end of such quarter. Term of the Agreement : The term of the Agreement is three years commencing from 1 January 2019. Subject to compliance with relevant laws and regulations and relevant stock exchanges’ listing rules (if applicable), Huizhou NVC agrees to extend the license period provided that there is no breach of contract by Guangdong ETLEC.
Benefits While on Leave An employee will continue to receive her/his salary and benefits while on paid leave under this Article. An employee on unpaid leave may arrange to pay the costs required to maintain benefit coverage in accordance with the local provisions of the collective agreement.