Common use of Compensation Upon Termination and Credit for Accrued Vacation Clause in Contracts

Compensation Upon Termination and Credit for Accrued Vacation. Upon lawful termination of this contract for any reason, the compensation to be paid hereunder shall be an amount which bears the same ratio to the annual salary specified as the number of contract days or fraction thereof to the date of such termination bears to the total contract days in the annual salary period in which termination occurs. The Superintendent shall refund any portion of the salary he was paid but had not earned prior to the date of termination of this contract. The Superintendent shall not be entitled to any reimbursement for unused sick leave or vacation either during the term of this contract or at its conclusion.

Compensation Upon Termination and Credit for Accrued Vacation. Upon lawful termination of this contract for any reason, the compensation to be paid hereunder shall be an amount which bears the same ratio to the annual salary specified as the number of contract days months or fraction thereof to the date of such termination bears to the total contract days 12 months in the annual salary period in which termination occurs. The Superintendent shall refund any portion of the salary he was paid but had not earned prior to the date of termination of this contract. He shall be paid for any unused vacation days at the daily compensation rate then in effect at the termination of employment. The Superintendent shall not be entitled to any reimbursement for unused sick leave or vacation either during the term of this contract or at its conclusion.

Compensation Upon Termination and Credit for Accrued Vacation. Upon lawful termination of this contract for any reason, the compensation to be paid hereunder shall be an amount which bears the same ratio to the annual salary specified as the number of contract days or fraction thereof to the date of such termination bears to the total contract days in the annual salary period in which termination occurs. The Superintendent Su perintendent shall refund any portion of the salary he was paid but had not earned prior to the date of termination of this contract. The Superintendent shall not be entitled to any reimbursement for unused sick leave or vacation either during the term of this contract or at its conclusion.