Application of separation payments Sample Clauses

Application of separation payments a. An applicable voluntary separation arrangement must be offered to an excess employee if they haven’t been successful in gaining an alternative ongoing position within the first 3 months of being declared excess (date of written notice). b. Where an employee declared excess identifies a preference for redeployment/retraining and declines the invitation to express interest in an early separation package in the first 3 months, then the quanta of any future invitation to accept a separation package will be reduced: i. Redeployment period more than 3 months and up to 6 months 50% reduction; ii. Redeployment period greater than 6 months and up to 9 months – 75% reduction.
Sample 1Sample 2
AutoNDA by SimpleDocs
Application of separation payments. An excess employee has the right to give notice at any time that they wish to accept a voluntary separation payment. The Employer will make an offer of voluntary separation payment available when such notice is given.
Sample 1Sample 2
Application of separation payments a. An applicable voluntary separation arrangement must be offered to an excess employee if they haven’t been successful in gaining an alternative ongoing position within the first 3 months of being declared excess (date of written notice). b. Where an employee declared excess identifies a preference for redeployment/retraining and declines the invitation to express interest in an early separation package in the first 3 months, then the quanta of any future invitation to accept a separation package will be reduced: i. Redeployment period more than 3 months and up to 6 months 50% reduction; ii. Redeployment period greater than 6 months and up to 9 months – 75% reduction. a). A management allowance as specified below (payable fortnightly) will be paid for all purposes to employees classified at AHP3, AHP4 and AHP5 who expressly have “managerial responsibilities” as defined in the work level definitions. Management Allowance Current First full pay period on or after 1/10/2014 First full pay period on or after 1/10/2015 First full pay period on or after 1/10/2016 $2,000 $2,050 $2,101 $2,154 SCHEDULE 1.2A: ENDORSED SUPERVISION TRAINING - PSYCHOLOGISTS A psychologist who (a) provides formal confirmation to an agency that he/she is formally accredited and endorsed by the Psychologists Board of Australia (PBA) as an “approved supervisor” in respect of other psychologists; and (b) is required by the agency in which they are employed to perform “accredited supervision” of other public sector agency psychologists, will progress from AHP 2 to the first step of AHP3 from the first full pay period after establishing to the satisfaction of the agency that he/she has met both of those two criteria. SCHEDULE 1.3: CFS OPERATION STAFF Classification Current First full pay period on or after 1/10/2014 First full pay period on or after 1/10/2015 First full pay period on or after 1/10/2016 Level 1 $45,467 $46,604 $47,769 $48,963 $47,268 $48,450 $49,661 $50,903 $49,067 $50,294 $51,551 $52,840 Level 2 $52,446 $53,757 $55,101 $56,479 $55,170 $56,549 $57,963 $59,412 $57,898 $59,345 $60,829 $62,350 $60,332 $61,840 $63,386 $64,971 Level 3 $66,282 $67,939 $69,637 $71,378 $68,149 $69,853 $71,599 $73,389 $70,016 $71,766 $73,560 $75,399 $71,885 $73,682 $75,524 $77,412 Level 4 $75,247 $77,128 $79,056 $81,032 $77,112 $79,040 $81,016 $83,041 $78,978 $80,952 $82,976 $85,050 $80,847 $82,868 $84,940 $87,064 Level 5 $89,572 $91,811 $94,106 $96,459 $92,183 $94,488 $96,850 $99,271 $94,659 $97,025 ...
Sample 1Sample 2
Application of separation payments. An applicable voluntary separation arrangement must be offered to an excess employee if they have not been successful in gaining an alternative ongoing position within the first 3 months of being declared excess (date of written notice).
Sample 1
Application of separation payments. (a) At any time during the redeployment period an excess Tenured or Transferred Employee may accept an applicable voluntary separation in accordance with SA Water’s Separation Procedure (SAWP–HR–0020). The value of the voluntary separation package is discounted with reference to the period of the redeployment period that has elapsed per the following table: Between nine (9) and 12 months after the commencement of Redeployment Period NES equivalent redundancy payment only (b) In addition the voluntary separation payment set out in clause 17 of this schedule package, a Tenured or Transferred Employee declared excess who accepts a voluntary separation payment in the first three (3) months of the redeployment period is also entitled to a lump sum of $15,000, if the Employee, when working in their substantive position is employed as a Lock Attendant, or receives a Construction and Maintenance Allowance or the Metal Trades Allowance, or the Experienced Diver Allowance every fortnight that is paid in the field pay every second Wednesday.
Sample 1
Application of separation payments a. An applicable voluntary separation arrangement must be offered to an excess employee if they haven’t been successful in gaining an alternative ongoing position within the first 3 months of being declared excess (date of written notice). b. Where an employee declared excess identifies a preference for redeployment/retraining and declines the invitation to express interest in an early separation package in the first 3 months, then the quanta of any future invitation to accept a separation package will be reduced: I. Redeployment period more than 3 months and up to 6 months – 50% reduction; II. Redeployment period greater than 6 months and up to 12 months – 75% reduction. The Chief Executive Officer must notify the union/s, and at the same time the Commissioner for Public Sector Employment, at least three months prior to the employee being due to reach the end of the 12 months of being excess. 3 This is intended to be broadly considered: does the person have the skills and capabilities to perform the duties to a substantial extent (including with training). That is, there does not need to be a direct match with all of the requirements of the role/position. 4 This includes any review, appeal and/or performance management process/es that may apply to the employee or that may be utilised by AFCT. Excess employees may be separated with a suitable payment in the event that they are unable to be placed at the end of 12 months.
Sample 1
Application of separation payments. ‌ 14.8.1 An excess employee has the right to give notice at any time that they wish to accept a voluntary separation payment. The employer will make an offer of voluntary separation payment available when such notice is given. The applicable terms of clause 15.3 will be determined by the date of notice given to the employer. 14.8.2 A redeployee will be required to provide 14 days’ notice to terminate their employment (or less by agreement). 14.8.3 As a minimum, the basis for calculating the voluntary separation payment is 10 weeks’ pay plus 2 weeks’ pay per year of service to a maximum of 52 weeks. This is in accordance with the Treasurer’s Budget Statement of June 2014. 14.8.4 An excess employee will have a minimum of 21 days to respond to any offer of a voluntary separation payment. The entitlements in this clause are consistent with the entitlements provided for in other Public Sector Enterprise Agreements. 14.8.5 Subject to the terms of clause 14.9.2 Variation to the twelve month redeployment period of this appendix, an excess employee who indicates that they wish to accept a voluntary separation payment will be entitled to the following redundancy payments:
Sample 1
AutoNDA by SimpleDocs
Application of separation payments. 1.8.1 An excess employee has the right to give notice at any time that they wish to accept a voluntary separation payment. The employer will make an offer of voluntary separation payment available when such notice is given. The applicable terms of clause 1.8.3 will be determined by the date of notice given to the employer. 1.8.2 A redeployee will be required to provide 14 days’ notice to terminate their employment (or less by agreement). 1.8.3 The basis for calculating the voluntary separation payment is 10 weeks’ pay plus 2 weeks’ pay per year of service to a maximum of 52 weeks. This is in accordance with the Treasurer’s Budget Statement of June 2014. 1.8.4 An excess employee will have a minimum of 21 days to respond to any offer of a voluntary separation payment. 1.8.5 Subject to the terms of clause 1.9.2 Variation to the twelve month redeployment period of this appendix, an excess employee who indicates that they wish to accept a voluntary separation payment will be entitled to the following redundancy payments: 1.8.6 An excess employee who has been a redeployee for between 0 to 3 months from date of formal written declaration of excess is entitled to redundancy pay equal to 100% of the voluntary separation payment prescribed in clause 1.8.3 plus a lump sum payment of $15,000; or 1.8.7 An excess employee who has been a redeployee for more than 3 months and up to 12 months from date of formal written declaration of excess is entitled to redundancy pay equal to 100% of the voluntary separation payment prescribed in clause 1.8.3; or 1.8.8 An excess employee who has been a redeployee for more than 12 months from date of formal written declaration of excess is entitled to redundancy pay equal to 75% of the voluntary separation payment prescribed in clause 1.8.3.
Sample 1

Related to Application of separation payments

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-SEVEN THOUSAND THREE HUNDRED SIXTEEN and 74/100 Dollars ($37,316.74) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Distribution of Benefits Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).

  • Reduction of Severance Benefits If any payment or benefit that the Executive would receive from any Company Group member or any other party whether in connection with the provisions in this Agreement or otherwise (the “Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payment will be equal to the Best Results Amount. The “Best Results Amount” will be either (x) the full amount of the Payment or (y) a lesser amount that would result in no portion of the Payment being subject to the Excise Tax, whichever of those amounts, taking into account the applicable federal, state and local employment taxes, income taxes and the Excise Tax, results in the Executive’s receipt, on an after-tax basis, of the greater amount. If a reduction in payments or benefits constituting parachute payments is necessary so that the Payment equals the Best Results Amount, reduction will occur in the following order: (A) reduction of cash payments in reverse chronological order (that is, the cash payment owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first cash payment to be reduced); (B) cancellation of equity awards that were granted “contingent on a change in ownership or control” within the meaning of Section 280G of the Code in the reverse order of date of grant of the awards (that is, the most recently granted equity awards will be cancelled first); (C) reduction of the accelerated vesting of equity awards in the reverse order of date of grant of the awards (that is, the vesting of the most recently granted equity awards will be cancelled first); and (D) reduction of employee benefits in reverse chronological order (that is, the benefit owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first benefit to be reduced). In no event will the Executive have any discretion with respect to the ordering of Payment reductions. The Executive will be solely responsible for the payment of all personal tax liability that is incurred as a result of the payments and benefits received under this Agreement, and the Executive will not be reimbursed, indemnified, or held harmless by any member of the Company Group for any of those payments of personal tax liability.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Termination Payments In the event of termination of the employment of Executive, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this paragraph 4:

  • Application of Section 409A of the Code (a) This Agreement shall be interpreted to avoid any penalty sanctions under section 409A of the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder (the “Code”). If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions under section 409A of the Code, then such benefit or payment shall be provided in full (to extent not paid in part at earlier date) at the earliest time thereafter when such sanctions shall not be imposed. For purposes of section 409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be made upon the Executive’s “separation from service” (within the meaning of such term under section 409A of the Code), each payment made under this Agreement shall be treated as a separate payment, and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. In no event shall the Executive, directly or indirectly, designate the fiscal year of payment, except as permitted under section 409A of the Code. Notwithstanding any provision of this Agreement to the contrary, with respect to amounts under this Agreement are nonqualified deferred compensation subject to Section 409A, in no event shall the timing of the Executive’s execution of the Release, directly or indirectly, result in the Executive designating the calendar year of payment, and if a payment that is subject to execution of the Release could be made in more than one taxable year, payment shall be made in the later taxable year. (b) Notwithstanding anything herein to the contrary, if, at the time of the Executive’s termination of employment with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as such term is defined in section 409A of the Code) and it is necessary to postpone the commencement of any payments or benefits otherwise payable under this Agreement as a result of such termination of employment to prevent any accelerated or additional tax under section 409A of the Code, then the Company shall postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise paid first within the ‘short-term deferral exception’ under Treas. Reg. §1.409A-1(b)(4), and then under the ‘separation pay exception’ under Treas. Reg. §1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is 6 months following the Executive’s “separation of service” (as such term is defined under code section 409A of the Code) with the Company. If any payments are postponed due to such requirements, such postponed amounts shall be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is 6 months following Executive’s separation of service with the Company. If the Executive dies during the postponement period prior to the payment of postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within 60 days after the date of the Executive’s death. (c) All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement shall be for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense shall be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit.

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Description of Severance Benefits In the event Executive becomes entitled under Sections 2.1 and 2.2 herein to receive Severance Benefits, the Company shall pay to Executive and provide him or her with the following benefits: (a) A lump sum payment of accrued and unpaid Base Salary, any annual bonus award earned by Executive for a fiscal year of the Company that ended prior to Executive’s Effective Date of Termination that has not yet been paid, unused vacation or paid time off, and other accrued benefits through the Effective Date of Termination (together, the “Accrued Obligations”), paid on the same basis as paid upon any voluntary termination of employment. Such lump sum amount shall be paid in accordance with the Company’s normal payroll procedures. (b) A lump sum amount equal to Executive’s annual bonus award earned as of the Effective Date of Termination, based on target performance (excluding any special bonus payments), except that the bonus will be prorated for the portion of the fiscal year during which Executive was actively employed. This payment will be in lieu of any other payment to be made to Executive under the annual bonus plan for such fiscal year in which Executive is then participating. (c) A lump sum amount equal to two (2) multiplied by the sum of the following: (i) the higher of: (A) Executive’s Base Salary in effect upon the Effective Date of Termination, or (B) Executive’s Base Salary in effect on the date of the Change in Control; and (ii) the higher of: (A) Executive’s annual target bonus opportunity for the fiscal year of the Company in which Executive’s Effective Date of Termination occurs, or (B) the average of the actual annual bonuses earned (whether or not deferred) by Executive under the annual bonus plan (excluding any special bonus payments) in which Executive participated in the three (3) fiscal years of the Company preceding the fiscal year of the Company in which Executive’s Effective Date of Termination occurs. If Executive has less than three (3) years of annual bonus participation preceding the fiscal year of the Company in which Executive’s Effective Date of Termination occurs, then Executive’s annual target bonus established under the annual bonus plan in which Executive is then participating for the fiscal year of the Company in which Executive’s Effective Date of Termination occurs shall be used for each fiscal year that Executive did not participate in the annual bonus plan, up to a maximum of three (3) years, to calculate the three (3) year average bonus payment. (i) Upon the consummation of the Change in Control, with respect to Executive’s equity-based long-term incentive awards that are outstanding on the Effective Date, immediate full vesting and lapse of all restrictions on any and all such awards (including but not limited to stock options, stock appreciation rights and restricted stock awards) held by Executive, and any performance conditions applicable to any such awards shall be deemed satisfied at target performance without proration. This provision shall override any conflicting language contained in Executive’s respective award agreements outstanding on the Effective Date and such award agreements are hereby deemed amended. (ii) Upon the consummation of the Change in Control, with respect to Executive’s equity-based long-term incentive awards that are granted to Executive after the Effective Date, immediate full vesting and lapse of all restrictions on any and all such awards (including but not limited to stock options, stock appreciation rights and restricted stock awards) held by Executive and any performance conditions applicable to any such awards shall be deemed satisfied at target performance without proration. Notwithstanding the foregoing, to the extent that a Replacement Award (as defined below) is provided to Executive to replace any then outstanding award (“Replaced Award”) in connection with the Change in Control, the Replaced Award held by Executive shall not become immediately vested and nonforfeitable.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!