Common use of Individual Eligibility Clause in Contracts

Individual Eligibility. a. An eligible faculty member who elects early separation through resignation or early retirement by October 15, to be effective the beginning of the subsequent academic year, or a date mutually agreed upon by the faculty member and the Administration, except those faculty qualifying under paragraph b below, shall receive a payment equal to his/her base salary minus ten percent (10%) of his/her base salary for each year beyond age fifty-five (55). The faculty member shall receive this amount in two

Individual Eligibility. a. An eligible faculty member who elects early separation through resignation or early retirement by October 15, to be effective the beginning of the subsequent academic year, or a date mutually agreed upon by the faculty member and the Administration, except those faculty qualifying under paragraph b below, shall receive a payment equal to his/her the faculty member’s base salary minus ten percent (10%) of his/her base salary % for each year beyond age fifty-five (55). The faculty member shall receive this amount in two.