Xxxxxxxxx Benefits (1) In addition to the salary and benefits described in Paragraph 7A, if the Executive’s employment is terminated pursuant to Paragraphs 6C or 6D, the Executive shall be entitled to the following: (i) the continuation of his Base Salary at the annual salary rate then in effect (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), for a period of one year following the termination of the Executive’s employment (the “Severance Period”), payable in accordance with the Employer’s payroll policy from time to time in effect and subject to the limitations imposed under subparagraph 7B(3); (ii) a pro-rata portion of the Bonus for the year in which the Executive’s employment terminates, if such Bonus would have been earned had the Executive been employed and in good standing as of the date the Bonus otherwise is paid to other senior level executive of the Employer, and payable at the time the Bonus otherwise is paid to other senior level executives of the Employer; (iii) the Bonus attributable to the calendar year prior to the calendar year in which the Executive’s employment terminates, if such Bonus would have been earned had the Executive been employed and in good standing as of the date the Bonus otherwise is paid to other senior level executive of the Employer, and provided such Bonus had not yet been paid in accordance with the timing provisions set forth in Paragraph 4B, and payable at the time the Bonus otherwise is paid to other senior level executives of the Employer; (iv) a payment equal to one hundred percent (100%) of the Target Bonus (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), based upon the Base Salary for such year, to be paid at the same time that performance bonuses are generally paid by the Employer to its executives for the year in which such termination occurs; (v) equity compensation, if any, subject to the terms of the Executive’s award agreement; (vi) professional outplacement services by a company selected by, and paid by, the Employer within one (1) year after the date of termination, in an amount not to exceed $32,000; and (vii) continued coverage of the Executive and his dependents in the medical and dental insurance plans sponsored by the Employer, as mandated by COBRA, which may continue to the extent required by applicable law and the Employer shall pay for such coverage, at the same rate the Employer pays for health insurance coverage for its active employees under its group health plan (with the Executive required to pay for any employee-paid portion of such coverage), through the earlier of (a) the last day of the Severance Period or (b) the date the Executive becomes eligible for coverage under another group health plan that does not impose preexisting condition limitations on the Executive’s coverage, provided, however, that nothing herein shall be construed to extend the period of time over which such COBRA continuation coverage may be provided to the Executive and his dependents beyond that mandated by law and, provided further, that the Executive shall be required to pay the entire cost of such COBRA continuation coverage for any time following the last day of the Severance Period.
(2) The foregoing notwithstanding, if at any time within one hundred twenty (120) days immediately preceding or one (1) year immediately following a “Change in Control,” the Executive’s employment is terminated pursuant to Paragraph 6C or 6D, the Executive shall be entitled to the following compensation, in lieu of any payments otherwise set forth in Paragraph 7B(1) above, and payable within sixty (60) days following the later of the Change in Control or the termination, subject, however, to the limitations imposed under subparagraph 7B(3): two (2.0) times the Executive’s Base Salary at the annual rate then in effect (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated) and two (2.0) times the Target Bonus (before any reduction under Paragraph 6D(3) which is made on a proportionally equal basis to all executive officers and which is made within the one (1) year period preceding the date the Executive’s employment is terminated), based upon the Base Salary for such year. In addition, upon the termination of the Executive’s employment as set forth in this subparagraph 7B(2) the Executive and his dependents shall be offered continued coverage under the Employer’s group health plan for the duration of the COBRA continuation period on the same financial terms as described above in subparagraph 7B(1)(vii) and shall also be entitled to the compensation and benefits, if any, set forth in subparagraphs 7B(1)(ii), (iii), (v) and (vi), above.
(3) Notwithstanding the foregoing, if the Executive is a “specified employee” as such term is defined under Section 409A of the Code and the regulations and guidance promulgated thereunder, any payments described in this Paragraph 7B shall be delayed for a period of six (6) months following the Executive’s separation of employment to the extent and up to an amount necessary to ensure such payments are not subject to the penalties and interest under Section 409A of the Code. The payments to be made under this Paragraph 7B shall be further conditioned upon the Executive’s execution of an agreement acceptable to the Employer that (i) waives any rights the Executive may otherwise have against the Employer, and (ii) releases the Employer from actions, suits, claims, proceedings and demands related to the period of employment and/or the termination of employment. For purposes of this Paragraph 7B, “Change in Control” shall be as defined under the 2006 Incentive Compensation Plan, as in effect on the date hereof, which definition is incorporated herein by reference; provided, however, the definition of Change in Control as set forth herein is not intended to be broader than the definition of a “change in control event” as defined by reference to the regulations under Section 409A of the Code, and the payments described in Paragraph 7B(2) shall not be payable unless the applicable Change in Control constitutes a change in control event in accordance with Section 409A of the Code and the regulations and guidance promulgated thereunder.
Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.
Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no later than the fiscal year immediately following the fiscal year in which it is earned. Following the completion of six (6) months of service, the employee shall be entitled to use earned paid vacation.
VACATIONS AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive vacation pay as a percent of the employee's total earnings exclusive of the Employer's contribution to the Union's Pension, Health Benefit Plan, Education and Assistance Fund and Industry Fund. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.
a. Employees shall, upon hire, receive ten percent (10%) vacation pay, and up to three weeks of vacation.
b. Employees with ten or more years of service with the Employer shall receive twelve percent (12%) vacation pay, and up to four weeks of vacation.
9.02 Vacation periods shall be arranged by mutual agreement between the Employer and each employee. Employees shall be granted their vacation periods as requested insofar as it is practical and in accordance with seniority, unless the Employer decides to grant all vacations at one time, in which case the Employer shall give the employees at least six (6) weeks advance notice.
9.03 The Employer agrees to remit the Vacation Pay of each employee as agreed upon in 9.01 of this Agreement and in accordance with the regulation set by the Employment Standards Branch, Ministry of Labour, monthly before, but not later than the fifteenth of the following month to the Union using a separate cheque marked "Vacation Pay", accompanied by a list on which all deductions and contributions as mentioned in 6.01, 13.02, 14.02a, 14.02b, 18.01, 19.01 and Schedule "A" are recorded.
9.04 In accordance with the agreement with the Employment Standards Branch, Ministry of Labour, the Board of Trustees of the Union's Vacation Pay Trust Fund, is obligated to take any steps which may be available to them either in law or in equity or in bankruptcy as may be necessary or desirable to effect collection from delinquent Employers. All costs incurred in the collection of said payment will be charged to such defaulting Employer.
9.05 The Employer agrees to give the auditor of the Union's Trust Fund the privilege to examine the Employer's records concerning hours and monies forwarded to the Union, if and when the auditor so desires. Any date for such an examination will be pre-arranged in writing between the auditor, the Employer and the Union.
VACATION AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive as vacation pay ten percent (10%) of the employee's total earnings exclusive of each Employer's contribution to the Union's Benefit Plan. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.
9.02 Vacation periods shall be arranged by mutual agreement between each Employer and each employee. Employees shall be granted their vacation periods as requested insofar as it is practicable and in accordance with years of employment, unless an Employer decides to grant all vacations at one time, in which case that Employer shall give the employees at least six (6) weeks advance notice.
9.03 Each Employer agrees to remit the Vacation Pay of each employee as agreed upon in Article 9.01 of this Agreement and in accordance with the regulation set by the Employment Standards Branch, Ministry of Labour, monthly before, but not later than the fifteenth of the following month to the Union using a separate cheque marked "Vacation Pay", accompanied by a list on which all deductions and contributions as mentioned in Articles 6.01, 12.02, 17.01, 18.01 and Schedule "A" are recorded.
9.04 In accordance with the agreement with the Employment Standards Branch, Ministry of Labour, the Board of Trustees of the Union's Vacation Pay Trust Fund, is obligated to take any steps which may be available to them either in law or in equity or in bankruptcy as may be necessary or desirable to effect collection from delinquent Employers. All costs incurred in the collection of said payment will be charged to such defaulting Employer.
9.05 Each Employer agrees to give the auditor of the Union's Trust Fund the privilege to examine that Employer's records concerning hours and monies forwarded to the Union, if and when the auditor so desires. Any date for such an examination will be pre-arranged in writing between the auditor, that Employer and the Union.
Specific Benefits Without limiting the generality of Section 3.3, the Executive shall be entitled to paid vacation of not less than the greater of (a) 20 business days per year or (b) the number of paid business vacation days provided to other senior executives of the Company (to be taken at reasonable times in accordance with the Company’s policies). Any accrued vacation not taken during any year may be carried forward to subsequent years; provided, that the Executive may not carry forward more than ten business days of unused vacation in any one year.
PAID VACATIONS 41.1 The Board shall grant paid vacation periods to each Member in accordance with the terms and conditions outlined in this Article.
(a) The Board shall maintain a record of paid vacation entitlement for each Member based on the years, and parts thereof, of service from the most recent date of hire with the Board completed by August 31st prior to the vacation period to be taken.
(b) For the purpose of this Article, the most recent date of hire shall be the date of last hire where there has been no termination of employment since that date.
(c) A Member who was given credit for split service prior to the signing of this Agreement shall continue to retain such service for vacation entitlement.
(a) Every Member shall be granted by the Board an annual paid vacation according to the following schedule: Years of Service Prior Entitlement to September 1st less than 1 year 3 weeks pro rated to time worked 1 year 3 weeks 8 years 4 weeks 17 years 5 weeks 24 years 6 weeks
(b) The pay for any vacation period shall be calculated on the Member's annual salary as provided in Schedule A.
(a) Vacations will normally be taken during the months of July and August but alternate scheduling may be permitted with the approval of the Member’s immediate Supervisor. Such requests for alternate scheduling shall not unreasonably be withheld.
(b) The Member shall inform the Board about the Member’s request for paid vacation by completing the vacation schedule form provided by the Board.
(c) If more than one (1) Member in a work location or department requests the same vacation time off, then, the most senior Member shall be granted the first choice the initial year after ratification of this Agreement. Thereafter, vacation time shall be on a rotation basis beginning with the next most senior Member having first choice.
(d) The choice of vacation time by seniority referred to in clause 41.4 (b) is to be implemented only when a problem may occur in a department whereby two or more Members have chosen the same vacation period and it is necessary that one of those Members must be available to maintain the efficient operation of the department.
(e) There will be a minimum of two (2) Members in a Composite Secondary School Office at all times.
41.5 (a) A ten (10) or twelve (12) month Member working in elementary schools shall take their vacation during regular scheduled breaks. This provision will also apply to ten (10) month Members working in Instructional Services and Media Services.
ANNUAL VACATIONS 15.01 Employees shall be entitled to an annual vacation after one (1) year of employment with pay, calculated as follows:
(a) 3/52nds of the earnings of that year of service after one (1) year and each subsequent year thereafter, up to and including five (5) completed years of service;
(b) 4/52nds of the earnings for the year commencing after five (5) completed years of service and each subsequent year thereafter, up to ten (10) completed years of service;
(c) 5/52nds of the earnings after ten (10) completed years of service and each subsequent year thereafter.
15.02 For other than full-time employees, all vacation pay will be paid to employees on December 15th in each year unless the employee requests vacation pay when a holiday is taken. In such circumstances, the employee will receive vacation pay requested at that time or a portion of the payment at that time and the balance on December 15th. Part-time employees will be allowed to make two (2) such requests per year based on earnings to June 30th. Full-time employees will receive vacation pay when they take their vacation.
15.03 Employees who are hospitalized or make use of compassionate leave during their vacation period shall be credited with extra vacation time equivalent to the time used.
15.04 Vacations cannot be accumulated from one year to another.
15.05 When a statutory holiday occurs during an employee’s vacation, an extra day’s vacation shall be granted if the holiday is one for which the employee would have received pay if he/she had been working.
15.06 If the employment of an employee is terminated, the Employer shall pay him/her for any vacation time he/she has earned.
15.07 A vacation list shall be submitted to the employees requesting them to indicate their preference as to vacation dates. Both parties agree, however, that the vacation schedule must be practical insofar as the operation of the business is concerned and therefore the Employer is able to make a final decision as to how many and which employees would be able to take vacation at any particular time. Seniority shall prevail in the event of a conflict of vacation requests between employees.
Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.
Synopsis and Benefit to Xxxxxxx County The Agreement continues the contractual relationship between the Oregon State Marine Board and Xxxxxxx County through its Sheriff’s Office. The Sheriff’s Office will be reimbursed for marine law enforcement patrols, boater education, and boat inspections conducted throughout the County.
