Exit Pay Sample Clauses

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
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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
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 
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, HESI 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 HESI by the DHEPDS Class: (a) HESI shall make an Aggregate Payment of one billion twenty-eight million U.S. dollars (“USD”) ($1,028,000,000) (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 HESI under the DHEPDS. DHEPDS Class Counsel and the PSC have agreed to accept the Aggregate Payment from HESI, subject to the terms and conditions set forth herein, including the allocation of the Aggregate Payment by the Allocation Special Master described below. (b) All Administrative Costs shall be paid from the Aggregate Payment. Under no circumstances shall HESI be liable for any Administrative Costs. At the request of the PSC or New Class Counsel, as applicable, and/or the DHEPDS Class Counsel, XXXX 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, HESI 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 HESI 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 The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof: (i) by check payable to the order of the Company; or (ii) delivery of an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the Optionee to the Company of a copy of irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price; or (iii) subject to Section 7(b) below, if the Common Stock is then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system), by delivery of shares of Common Stock having a fair market value equal as of the date of exercise to the option price. In the case of (iii) above, fair market value as of the date of exercise shall be determined as of the last business day for which such prices or quotes are available prior to the date of exercise and shall mean (i) the last reported sale price (on that date) of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market (or successor trading system), if the Common Stock is not then traded on a national securities exchange.

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