Exit Pay. (a) Any ARTIST who has completed his/her tenth (10th) or more year of service with the EMPLOYER and retires from the field of dance as a full-time performer shall upon cessation of employment be paid one (1) week of salary at his/her then effective rate.
(b) Payments made under this Paragraph shall be made in the first pay period after the ARTIST’s receipt of his/her last weekly compensation or receipt of his/her last payment of time- loss benefits pursuant to New York State law for work-related injury or illness, whichever is later.
Exit Pay. Each Artist on a contractual guarantee who, after a minimum of two (2) three (3) years of service with the Company as an Artist (including the 2020-2021 year) is terminated, retires or leaves the Company for any reason shall receive exit pay as follows [except that an Artist who voluntarily leaves the employ of ABT prior to the date of expiration of his/her individual artist agreement shall receive eighty-five percent (85%) of the exit pay to which he/she otherwise would be entitled]: follows: After three (3)two (2) years of service but less than five (5) years of service: the Artist shall be paid one (1) week of salary based upon his/her actual weekly compensation. After five (5) or more years of service: The Artist shall be paid one (1) week of salary based upon his/her actual weekly compensation for each year of service up to a maximum of fifteen
Exit Pay. In the event of a layoff, the affected employee may opt to cash out their sick leave at the rate of $20.00 for every 8 hours accumulated in the employee's sick leave bank. Upon recall, the employee would have a zero balance in their sick leave bank and would begin to accrue sick leave at the rate specified in Article 5, Section C. ofthis Agreement. Should the employee on layoffchoose not to cash out employee's sick leave accumulation as provided herein, their sick leave bank would be frozen for the period of layoff. Upon recall and return to work, the employee shall continue to build upon the previous accumulation.
Exit Pay. When an Artist leaves the Company after completing five years of service regardless of circumstances, the Artist will be entitled to exit pay of one current performance week's salary per year of service up to a maximum of ten weeks for ten
Exit Pay a. An ARTIST with at least seven (7) years seniority with the EMPLOYER shall be entitled to receive Exit Pay in the event he or she leaves the employ of the EMPLOYER, voluntary or involuntary, and also leaves the full time dance field. Exit Pay shall be paid in an amount equal to one-third (1/3) of the ARTIST’s actual weekly salary for each year of seniority with the EMPLOYER.
b. For purposes of this section, “actual weekly salary” shall be computed by taking the average of the highest three years of weekly salary in the five years immediately preceding the payment, and “weekly salary” is defined as the ARTIST’s base pay plus any seniority pay (as indicated in the ARTIST’s Standard Artist Contract for Employment in such years).
Exit Pay. When an ARTIST, after completing five (5) years of service, leaves San Francisco Ballet, regardless of circumstances, such ARTIST will be entitled to exit pay of one hundred percent (100%) of the ARTIST’S actual weekly compensation (including seniority and overscale) as of the date of their exit for each year the ARTIST has been engaged to work for at least twenty (20) weeks in each year of service, beginning with the first (1st) date of employment. In no event will an ARTIST receive both Exit and Severance pay.
Exit Pay
