We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Exit Pay Sample Clauses

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.
Sample 1
AutoNDA by SimpleDocs
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).
Sample 1
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
Sample 1
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.
Sample 1
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.
Sample 1
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
Sample 1
Exit Pay. Each Artist on a contractual guarantee who, after a minimum of three (3) years of service with the Company as an Artist 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]: - After three (3) 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 (15) weeks except for Artists whose weekly wage rate is less than the Principal Salary minimum shall be twenty (20) weeks. One (1) week’s salary shall be defined as one week of the Artist’s current actual weekly compensation at the time the Artist leaves. A Principal’s compensation, for the purpose of calculating exit pay, shall be based on no more than 125% of the minimum weekly compensation for Principals. A year of service shall be defined as any year in which the Artist works eighteen (18) or more weeks. In the event an Artist is not able to satisfy the requirement of eighteen (18) weeks of work in a year because of a personal injury, then one such year only shall be counted, for the purposes of exit pay, as a year worked. For purposes of this provision, the full period that a Dancer was an Apprentice Dancer shall be excluded from the calculation of years of service. Exit pay shall be paid as follows: Up to and including the first five (5) weeks of exit pay entitlement shall be paid on August 1; up to and including the next five
Sample 1
AutoNDA by SimpleDocs
Exit Pay 
Sample 1

Related to Exit Pay

  • Merit Pay It is the parties’ intent to not simultaneously provide employees with both: a) the wage premiums referenced in Subsection A of this Agreement, and b) an above-top-step merit premium program. Therefore, existing bargaining units with employees which have eligibility for above-top-step merit pay as provided under KCC 3.15.020(C)(3) and

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in Xxxxxxxxx 0 xxxxx, (xx) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • Court Pay (1) When an off-duty member is subpoenaed to court and so reports, the member shall be paid or credited a minimum of four (4) hours at the member's appropriate rate of pay, unless the court clock-out time is within one-half (½) hour of the beginning of the member’s tour of duty or later. In the latter case, the member shall be paid at a rate of time and one-half (1½) for all hours worked up to the starting time for that tour of duty. (2) Subject to the provisions of Section 22.7(B)(1), where an off-duty member has been issued multiple subpoenas on the same day, the member shall receive a minimum of four (4) hours pay at the member’s appropriate rate of pay for reporting for a morning (a.m.) subpoena or subpoenas and a minimum of four (4) hours pay at the member’s appropriate rate of pay for reporting for an afternoon (p.m.) subpoena or subpoenas, with 12:00 noon beginning the p.m. time period. Where an off-duty member has appeared for court and has not been released by the court and/or clocked out from an a.m. subpoena(s) at the time he/she reports for a p.m. subpoena(s), the above provision shall not apply. In this situation, the member shall receive a minimum of four (4) hours pay at the member’s appropriate rate of pay and shall receive pay at his/her appropriate rate of pay for all hours worked beyond four (4). (3) If the member is notified not to appear in court at least the day before the member is required by subpoena to appear in court, no court pay shall be provided.

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any xxxx-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Settlement Benefits Subject to the terms and conditions set forth herein, Transocean shall provide the following “Settlement Benefits” in connection with the resolution of the New Class Action by the New Class and the resolution of the Assigned Claims against Transocean by the DHEPDS Class: (a) Transocean shall make an Aggregate Payment of $211,750,000 (two hundred and eleven million, seven hundred and fifty thousand) U.S. dollars (“USD”) (the “Aggregate Payment”) to resolve both the alleged liability to the New Class for Punitive Damages Claims, if any, and the alleged liability to the DHEPDS Class for the Assigned Claims against Transocean under the DHEPDS. DHEPDS Class Counsel and the PSC have agreed to accept the Aggregate Payment from Transocean, subject to the terms and conditions set forth herein, including the allocation of the Aggregate Payment by the Allocation Neutral described below. (b) All Administrative Costs shall be paid from the Aggregate Payment. Under no circumstances shall Transocean be liable for any Administrative Costs. At the request of the PSC or New Class Counsel, as applicable, and/or the DHEPDS Class Counsel, Transocean agrees to consult with them to explore methods to enhance the efficiency of the implementation and administration of the processes for the distribution of the Aggregate Payment amount pursuant to the provisions of the SA. (c) Only as agreed to by the Parties in Section 23 of this SA, Transocean shall pay the reasonable common benefit costs and fees of the PSC, New Class Counsel, as applicable, and DHEPDS Class Counsel and/or other common benefit attorneys who have submitted time and/or costs in accordance with Pre-Trial Order No. 9, as may be approved by the Court. In no event shall Transocean be required to pay any common benefit costs or fees of the PSC, New Class Counsel, DHEPDS Class Counsel or any other common benefit attorneys, or any other person who claims a right to fees and costs, in excess of the amount agreed to by the Parties in Section 23 of this SA.

  • Payment Options  Paper Invoice - Supplier submits a paper invoice to the organisation as standard for each purchase order received.  Embedded Purchase Card - This payment option allows the supplier to charge the cost of the goods/services provided to a VISA/MasterCard electronic Purchasing Card (ePC) belonging to a Contracting Authority. The supplier shall receive payment from VISA/MasterCard therefore negating the need to provide an invoice to the Contracting Authority.  Consolidated Electronic Invoice - Supplier submits a single invoice covering multiple purchase orders in an electronic file.  Self-Billing - Once the Goods Received Note (GRN) has been entered on PECOS P2P, a payment instruction is automatically sent to the Contracting Authority’s finance system to make payment to the supplier for the goods/services received.  Electronic Invoices - Supplier submits an electronic invoice either directly to PECOS P2P/relevant system (cXML) and/or via the SG eInvoicing Solution, which can go again direct to PECOS P2P or a Contracting Authority’s finance system.

Most Referenced Clauses

Most Referenced Definitions

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!