Cash Payment on Termination of Employment Sample Clauses

Cash Payment on Termination of Employment. At the time of termination of employment from the City, providing that the employee has completed ten (10) or more years of service, the employee may elect, by filing written notice to the municipality within thirty (30) days prior to the effective date of termination in all cases except where termination is for cause, to be paid in cash for accrued but unused sick leave credit, not to exceed 2,600 hours. Entitlement will be based on years of service over ten (10) completed years calculated at 1% per year. (Example: Ten (10) completed years equals 10% of unused sick leave credit and fifteen (15) completed years equals 15% of unused sick leave credit.) Such payment shall be based upon the employee’s base pay at the time of termination (excluding longevity and assignment pay) divided by 2,704 hours (after December 14, 2008, 2,595.84 hours will be used to calculate the base pay rate). Such payment shall eliminate all sick leave credit accrued by the employee at that time. Such payment shall be made only once to any employee.
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Cash Payment on Termination of Employment. ‌ At the time of termination of employment from the City, providing that the employee has completed ten
Sample 1

Related to Cash Payment on Termination of Employment

  • Payment on Termination If an employee is terminated after the end of a year of employment, the employee is deemed to have been given any untaken leave from the date of termination and shall be paid for that leave accordingly. The employee shall also be paid for any public holidays falling within the period of leave in addition to payment for the leave. If an employee is terminated before the end of a full year of employment, the employee shall be paid pro-rata annual leave based on the period of service.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • EMPLOYMENT & TERMINATION This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • Employee Termination A) Regular employees other than those serving a probationary period, shall give twenty-eight (28) calendar days written notice of termination to a representative designated by the Employer with the authority to accept such written notice.

  • SEPARATION OF EMPLOYMENT (a) If an employee is discharged by the Employer, he shall be paid in full for all monies owing to him by the Employer on the date of his discharge.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • NOTICE OF TERMINATION OF EMPLOYMENT 2601 Employment may be terminated voluntarily by a nurse or for just cause by the Employer subject to the following periods of written notice, exclusive of any vacation due:

  • Condition of Employment The Employee acknowledges that his/her employment and the continuance of that employment with the Company is contingent upon his/her agreement to sign and adhere to the provisions of this Agreement. The Employee further acknowledges that the nature of the Company’s business is such that protection of its proprietary and confidential information is critical to its survival and success.

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