CHANGES IN LAW PERTAINING TO INCENTIVES Sample Clauses

CHANGES IN LAW PERTAINING TO INCENTIVES. Should the payment of this incentive become illegal or limited by law in amount, or if the payment of the incentives results in an unexpected new payment to TRS by the Board, the incentive will be changed. In this event, the cost of the incentive as described above shall be calculated, and any allowable amount, up to the incentive amount will be paid as agreed above. Any remaining portion of the incentive shall be paid to the teacher during the month of July, but no later than December 31, immediately following retirement, however, that the Board and Union may negotiate and agree to an alternative manner of incentive payment so long as the total cost of the incentive to the Board is the same.
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Related to CHANGES IN LAW PERTAINING TO INCENTIVES

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