EIB Upon Termination Sample Clauses

EIB Upon Termination. Nurses who resign or retire their employment after completing thirty-one thousand, two hundred hours (31,200) or more of service with ▇▇▇▇▇▇ Regional Medical Center shall have their EIB benefits accrued beyond five hundred twenty (520) hours converted to cash at the rate of 100% of the excess accrued ((EIB balance-520) x 1.0 (Appendix A hourly rate + any BSN, MSN and/or Certification Premium)). 10.5.1 Employees hired prior to January 1, 1977, who have any unused EIB up to five hundred twenty (520) hours will be paid as terminal pay, to any full-time employee who terminates employment with the Hospital, provided the employee has continuous service as a full-time employee from January 1, 1977 to the date of termination. Such EIB benefits will be paid at the employee’s base rate at the time of termination.