Entitlement Computation Clause Samples
The Entitlement Computation clause defines the method for calculating the amount or benefits a party is entitled to under a contract. Typically, this clause outlines the specific criteria, formulas, or procedures used to determine entitlements, such as payment amounts, compensation for delays, or adjustments due to changes in scope. By providing a clear framework for entitlement calculations, this clause helps prevent disputes and ensures both parties understand how their rights and obligations are quantified.
Entitlement Computation. The entitlement payment for an eligible employee will be computed by multiplying the employee’s accumulated sick leave, preceding the date of retirement, by the rate of fifty dollars ($50) per full-time day at the time of retirement.
1. Dollar value of full-time sick day 50.00
2. Accumulated and unused sick days 100.00
3. Final entitlement payment 5,000.00 Sick leave used in the computation of the entitlement payment will be considered and would no longer be available to the employee as paid sick leave. Consequently, only the final year’s sick leave allocation will be available for use as a result of a bona fide absence due to sickness.
Entitlement Computation. Entitlement for an eligible employee will be computed by multiplying the employee’s accumulated and unused sick leave times 30% of the employees’ day rate based on the salary including longevity being received at the time of retirement.
Entitlement Computation. Effective upon approval of their respective bodies, the entitlement payment for an eligible employee will be computed by multiplying the employee’s accumulated sick leave, preceding the date of retirement, by utilizing the chart below: Accumulated Sick Days Retirement Stipend Less than 100 $50.00 per day x number of accumulated days 100-199 $65.00 per day x number of accumulated days 200 or more $75.00 per day x number of accumulated days *Half days will be rounded up to the nearest whole day. ▇▇▇▇ leave used in the computation of the entitlement payment will be considered and would no longer be available to the employee as paid sick leave. Consequently, only the final year’s sick leave allocation will be available for use as a result of a bona fide absence due to sickness.
Entitlement Computation. Entitlement for an eligible employee will be computed by multiplying the employee’s accumulated and unused sick leave times 35% of the value per full-time day based on the salary including longevity being received at the time of retirement. Sick leave used in the computation of the entitlement will be considered consumed and no longer available to the employee as paid sick leave. Consequently, only the final year’s sick leave allocation will be available for use as the result of bona fide absences due to sickness.