CASH PAYMENT UPON FOUNDATION RETIREMENT Sample Clauses

CASH PAYMENT UPON FOUNDATION RETIREMENT. The Cash Payment Upon Foundation Retirement is a one-time lump-sum cash payment. The eligible employee may choose one of the following two options:
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CASH PAYMENT UPON FOUNDATION RETIREMENT. The Cash Payment Upon Foundation Retirement is a one-time lump-sum cash payment. The eligible employee may choose one of the following two options: * For the purpose of determining eligibility for such benefits, a “break in service” is defined as a lapse in Foundation employment of more than 30 days, excluding approved leaves of absence.
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CASH PAYMENT UPON FOUNDATION RETIREMENT. The Cash Payment Upon Foundation Retirement is a one-time lump-sum cash payment. The eligible employee may choose one of the following two options: 1. A lump sum cash payment derived using the formula of three (3) days’ pay for each twelve (12) full months of continuous * For the purpose of determining eligibility for such benefits, a "break in service" is defined as a lapse in Foundation employment of more than 30 days, excluding approved leaves of absence. Art. 9.7c service up to the last day actually worked, not to exceed a max- imum payment of eighty (80) days; or,
Sample 1
CASH PAYMENT UPON FOUNDATION RETIREMENT. The Cash Payment Upon Foundation Retirement is a one-time lump-sum cash payment. The eligible employee may choose one of the following two options: Year 1 None None None Years 2 through 7 8% None 8% Years 8 or more 10% None 10% * For the purpose of determining eligibility for such benefits, a “break in service” is defined as a lapse in Foundation employment of more than 30 days, excluding approved leaves of absence. 1. A lump sum cash payment derived using the formula of three
Sample 1

Related to CASH PAYMENT UPON FOUNDATION RETIREMENT

  • Retirement Payment Employees with 25 or more total years of service in the program, who give two months’ notice of intent to retire, shall be provided the equivalent of 16% of annual salary, or $16,000, whichever is greater, at date of termination. The payment shall not exceed $20,000.

  • Refund or Payment upon Termination If this Agreement is terminated by You in accordance with Section 12.3 (Termination), We will refund You any prepaid fees covering the remainder of the term of all Order Forms after the effective date of termination. If this Agreement is terminated by Us in accordance with Section 12.3, You will pay any unpaid fees covering the remainder of the term of all Order Forms. In no event will termination relieve You of Your obligation to pay any fees payable to Us for the period prior to the effective date of termination.

  • Payment upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Vacation Pay on Retirement Termination is as follows:

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