Features of the Plan Sample Clauses

Features of the Plan. 8.19.2.1 For each school year of enrolment in the Plan, the teacher will be granted an unpaid, Board approved leave of absence for part of the teacher's regular assignment. 8.19.2.2 The teacher shall pay the full cost of benefits, including contributions to the Teachers' Pension Plan Board, while the teacher is on leave under this Plan. 8.19.2.3 The Board agrees to prepay the teacher's service gratuity calculated at the time the teacher commences participation in the Plan. 8.19.2.4 The Board shall pay the teacher's salary and the partial service gratuity payments over the school year in accordance with 7.
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Features of the Plan. Stock Purchase Plan 1. ▇▇▇▇▇▇▇ Company is the parent Company and sole shareholder of ▇▇▇▇▇▇▇ Canada Inc. Its shares are listed on and traded through the New York Stock Exchange. They are bought and sold only in U.S. dollars. The amount of your purchase can range from a minimum of $25 U.S. per month to a maximum of $25,000 U.S. during any calendar year. For ease of administration when you use the payroll deduction method of payment, deductions are made in Canadian dollars, which will be sufficient, at current and anticipated interest rates, to qualify under the U.S. plan. Shares will be purchased by ▇▇▇▇▇ Fargo for employees on the open market. Dividends are reinvested automatically for you in additional whole and fractional shares of ▇▇▇▇▇▇▇ Company stock. 2. Participation is free. ▇▇▇▇▇▇▇ Canada Inc. pays all service charges and brokerage commissions for: a) Purchase of shares through payroll deduction, cash purchase of shares, and reinvestment of dividends. (Payment for these fees on your behalf must be reported for income tax purposes.) b) However, any interest earned on employee funds for the short period of time between payroll or employee contribution and payment to the ▇▇▇▇▇ Fargo will be used to contribute to the payments of these expenses. At the end of each calendar quarter, you will receive from ▇▇▇▇▇ Fargo a statement of your account showing the details of the transactions. c) ▇▇▇▇▇ Fargo will hold for your convenience all shares purchased under the Plan and any other ▇▇▇▇▇▇▇ Company stock you wish to surrender for safekeeping. Custody of those shares by ▇▇▇▇▇ Fargo protects them from loss, theft, or inadvertent destruction.
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Related to Features of the Plan

  • Provisions of the Plan This option is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this option.

  • of the Plan The Employer's cash or deferred contribution is the amount the Employer may from time to time deem advisable which the Employer designates as a cash or deferred contribution prior to making that contribution to the Trust.

  • Administration of the Plan The Administrator of the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized to: (a) Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of the Plan; (b) Determine which Employees, directors and Consultants shall be granted Stock Rights; (c) Determine the number of Shares for which a Stock Right or Stock Rights shall be granted; provided, however, that in no event shall the aggregate grant date fair value (determined in accordance with ASC 718) of Stock Rights to be granted and any other cash compensation paid to any non-employee director in any calendar year, exceed $750,000, increased to $1,000,000 in the year in which such non-employee director initially joins the Board of Directors. (d) Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted provided that no dividends or dividend equivalents shall be paid on any Stock Right prior to the vesting of the underlying Shares. (e) Amend any term or condition of any outstanding Stock Right, provided that (i) such term or condition as amended is not prohibited by the Plan and (ii) any such amendment shall not impair the rights of a Participant under any Stock Right previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s Survivors. (f) Determine and make any adjustments in the Performance Goals included in any Performance-Based Awards; and (g) Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right; Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time. Notwithstanding the foregoing, only the Board of Directors or the Committee shall be authorized to grant a Stock Right to any director of the Company or to any “officer” of the Company as defined by Rule 16a-1 under the Exchange Act.

  • The Plan This Plan is the Fund's written distribution and service plan for Class N shares of the Fund (the "Shares"), contemplated by Rule 12b-1 as it may be amended from time to time (the "Rule") under the Investment Company Act of 1940 (the "1940 Act"), pursuant to which the Fund will compensate the Distributor for its services in connection with the distribution of Shares, and the personal service and maintenance of shareholder accounts that hold Shares ("Accounts"). The Fund may act as distributor of securities of which it is the issuer, pursuant to the Rule, according to the terms of this Plan. The terms and provisions of this Plan shall be interpreted and defined in a manner consistent with the provisions and definitions contained in (i) the 1940 Act, (ii) the Rule, (iii) Rule 2830 of the Conduct Rules of the National Association of Securities Dealers, Inc., or any applicable amendment or successor to such rule (the "NASD Conduct Rules") and (iv) any conditions pertaining either to distribution-related expenses or to a plan of distribution to which the Fund is subject under any order on which the Fund relies, issued at any time by the U.S. Securities and Exchange Commission ("SEC").

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.