Common use of Example of Calculation Clause in Contracts

Example of Calculation. Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separation. Wellness Incentive = 2.5% for each year of service x 20 years of service = 50% x 500 hours = 250 hours. 250 hours x $25.00 (base salary at time of separation) = $6,250.00 421. The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave.

Example of Calculation. Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separation. Wellness Incentive = 2.5% for each year of service x 20 years of service = 50% 50% x 500 hours = 250 hours. 250 hours x $25.00 (base salary at time of separation) = $6,250.00 421. The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave.6,250.00

Example of Calculation. Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separation. Wellness Incentive = 2.5% for each year of service x 20 years of service = 50% x 500 hours = 250 hours. 250 hours x $25.00 (base salary at time of separation) = $6,250.00 421428. The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave.

Example of Calculation. 406. Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separation. Wellness Incentive = 2.5% for each year of service x 20 years of service = 50% x 500 hours = 250 hours. 250 hours x $25.00 (base salary at time of separation) = $6,250.00 421407. The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave.