Lump Sum Payment in Lieu of Step Sample Clauses

Lump Sum Payment in Lieu of Step. Effective beginning July 1, 2018, faculty members who are at the top of the salary schedule and who otherwise would be eligible for the Career Step shall receive, at the of beginning the faculty member’s sixteenth (16th) consecutive year of service in the MSCF bargaining unit, a lump sum payment equivalent to one (1) step. The lump sum payment for part-time faculty shall be prorated according to the faculty member’s FTE in the preceding academic year (i.e., cumulative FTE for fall and spring semesters, truncated at 1.0).
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Lump Sum Payment in Lieu of Step. A faculty member who, during the 2018-2019 academic year, was employed at least one (1) semester (fall and/or spring), and paid according to the salary schedule shall, effective January 1, 2020 receive a single lump- sum payment of fifteen hundred dollars ($1500.00) in lieu of the progression step described in Subd. 2.A., above, if the faculty member is employed for spring semester 2020, at the top step of the faculty member’s respective salary column, and paid according to the salary schedule.
Sample 1Sample 2
Lump Sum Payment in Lieu of Step i. Effective beginning July 1, 2018 2021, faculty members who are at the top of the salary schedule and who otherwise would be eligible for the a Career Step under Section 6, Subd. 1.A(i), above, shall receive, at the of beginning the faculty member’s sixteenth (16th) consecutive year of service in the MSCF bargaining unit, a one-time lump- sum payment equivalent to one (1) step. The lump- sum payment for part-time faculty shall be prorated according to the faculty member’s FTE in the preceding academic year (i.e., cumulative FTE for fall and spring semesters, truncated at 1.0).
Sample 1

Related to Lump Sum Payment in Lieu of Step

  • Payment in Lieu of Benefits a) All employees not transferred to the Trust who received pay in lieu of benefits under a collective agreement in effect as of August 31, 2014, shall continue to receive the same benefit.

  • 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.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Payment in Lieu If an employer makes payment in lieu for all or any of the period of notice prescribed, the period for which such payment is made must be treated as service with the employer for the purposes of computing any service related entitlement of the employee.

  • Retirement in Lieu of Layoff 9.9.1 Any member in the bargaining unit may elect to accept a service retirement in lieu of layoff, voluntary demotion, or reduction in assigned time. Such bargaining unit member shall, within ten (10) workdays prior to the effective date of the proposed layoff, complete, and submit a form provided by the District for this purpose.

  • Payment Upon Separation An employee or an employee's estate will be paid for:

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Basic Benefit Effective January 1, 2008, the basic life insurance benefit will be increased from $15,000 to $18,000 for employees. This shall be the default level of life insurance coverage, which shall be provided at no cost to the employee.

  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.