Common use of Lump Sum Payment Upon Termination Clause in Contracts

Lump Sum Payment Upon Termination. An employee who terminates his/her employment with the State, for reason not reflecting discredit on himself/herself, shall be entitled, upon the date of such termination, to cash compensation for unused vacation leave, assuming that the employee has worked the qualifying period. If an employee transfers between agencies, there shall be no cash compensation paid for unused vacation leave. In such a transfer, the receiving agency assumes the liability for the accrued vacation credits transferred with the employee.

Appears in 9 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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Lump Sum Payment Upon Termination. An employee who terminates his/her employment with the State, for reason not reflecting discredit on himself/herself, shall be entitled, upon the date of such termination, to cash compensation for unused vacation leave, assuming that the employee has worked the qualifying period. If an employee transfers between agencies, there shall be no cash compensation paid for unused vacation leave. In such a transfer, the receiving agency assumes the liability for the accrued vacation credits transferred with the employee.

Appears in 3 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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