Common use of Employees Leaving the COMPANY Clause in Contracts

Employees Leaving the COMPANY. (a) When an employee’s service with the COMPANY is terminated before the employee has taken vacation with pay to which eligible, an allowance in lieu thereof shall be granted, except that: (1) An employee granted a Leave of Absence shall be granted vacation to which eligible, ordinarily before the Leave of Absence begins. (2) An employee being retired under the Pension Plan will be granted, prior to retirement, vacation pay to which eligible; however, when an employee (1) is retired on service pension which becomes effective immediately upon expiration or termination of Sickness Disability Benefits to which eligible, or (2) is retired on disability pension, no pay or allowance in lieu thereof shall be applicable. (3) No vacation or allowance in lieu thereof shall be granted to an employee who is dismissed for unsatisfactory conduct. An employee who terminates employment by resignation or termination for cause will be required to reimburse the Company for the value of the vacation days to which eligible during the current calendar year, which have been taken prior to the date the employee’s termination occurs, in excess of the schedule below. (b) An employee granted vacation or allowance in lieu as provided in Paragraph 4(a) shall also be granted vacation or allowance in lieu thereof, as applicable, for any vacation rescheduled or carried over from the previous calendar year.

Employees Leaving the COMPANY. (a) When an employee’s service with the COMPANY is terminated before the employee has taken vacation with pay to which eligible, an allowance in lieu thereof shall be granted, except that: (1) An employee granted a Leave of Absence shall be granted vacation to which eligible, ordinarily before the Leave of Absence begins. (2) An employee being retired under the Pension Plan will be granted, prior to retirement, vacation pay to which eligible; however, when an employee (1) is retired on service pension which becomes effective immediately upon expiration or termination of Sickness Disability Benefits to which eligible, or (2) is retired on disability pension, no pay or allowance in lieu thereof shall be applicable. (3) No vacation or allowance in lieu thereof shall be granted to an employee who is dismissed for unsatisfactory conduct. An employee who terminates employment by resignation or termination for cause will be required to reimburse the Company for the value of the vacation days to which eligible during the current calendar year, which have been taken prior to the date the employee’s termination occurs, in excess of the schedule below. . (b) An employee granted vacation or allowance in lieu as provided in Paragraph 4(a) shall also be granted vacation or allowance in lieu thereof, as applicable, for any vacation rescheduled or carried over from the previous calendar year.