Lump-Sum on Termination Sample Clauses

Lump-Sum on Termination. An employee who terminates employment with the employer is entitled to a lump sum payment equal to one-fourth (1/4) of the pay attributed to the employee's accumulated sick leave. The pay attributed to sick leave shall be computed on the basis of the employee's salary or wage at the time of termination. Accrual of sick leave credits for calculating the lump sum payment provided for in this subsection begins July 1, 1971, and the payment thereof shall be the responsibility of the university unit wherein the sick leave accrues. However, no employee forfeits any sick leave rights or benefits he/she had accrued prior to
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Lump-Sum on Termination. An employee who terminates employment with the employer is entitled to a lump sum payment equal to one-fourth (1/4) of the pay attributed to the employee's accumulated sick leave. The pay attributed to sick leave shall be computed on the basis of the employee's salary or wage at the time of termination. Accrual of sick leave credits for calculating the lump sum payment provided for in this subsection begins July 1, 1971, and the payment thereof shall be the responsibility of the university unit wherein the sick leave accrues. However, no employee forfeits any sick leave rights or benefits he/she had accrued prior to July 1, 1971. However, where an employee transfers to any other position under the jurisdiction of the State of Montana, said transfer shall not be accompanied by lump-sum payment for unused sick leave. In the event of such a transfer, the receiving employer shall assume the liability for the accrued sick leave credits earned after July 1, 1971 and transferred with the employee. (2-18-618, MCA)

Related to Lump-Sum on Termination

  • Payment on Termination If an employee is terminated after the end of a year of employment, the employee is deemed to have been given any untaken leave from the date of termination and shall be paid for that leave accordingly. The employee shall also be paid for any public holidays falling within the period of leave in addition to payment for the leave. If an employee is terminated before the end of a full year of employment, the employee shall be paid pro-rata annual leave based on the period of service.

  • On Termination (a) An employee who voluntarily terminates his employment will be provided his final pay on the next regular payday.

  • Vacation Payment on Termination An employee whose service is terminated by the Company or by resignation shall be entitled to a cash payment in lieu of an outstanding vacation allowance, calculated proportionately from July 1 marking the beginning of the 12-month period in which the vacation entitlement applies. Upon the death of an employee, his or her estate shall be entitled to the same payment. The payment will be based on:

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

  • Compensation on Termination (a) If this Project Agreement is terminated pursuant to Sections 34.3(a), 35.2(a)(ii), 36.1, 36.2 or 36.3, then:

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be effected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity and up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of the ESC Region 8 and TIPS. Does vendor agree? Yes

  • Compensation Upon Termination Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

  • Benefit Termination Any employee terminating employment shall be entitled to receive the District insurance contribution for the remainder of the calendar month in which the contribution is effective. In cases where separation occurs after completion of the employee’s full contract obligation (i.e. the end of the school/work year), benefit coverage will continue through August 31 of that year.

  • Payment upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

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