Method of Compensation for Unused Sick Leave Sample Clauses

Method of Compensation for Unused Sick Leave. 1. If any employee dies and was entitled to payment for accumulated vacation time or sick leave under the provisions of this agreement, the heirs of such deceased employee who are given priority to succeed to that employee's assets under the laws of intestate succession of this state, or the executor or administrator of that employee's estate, upon submission of satisfactory proof to the County of their entitlement, shall be paid such amount. 2. Upon the death of an employee or upon an employee electing to retire under the State of Nevada Public Employees Retirement System while employed with the County, the employee or the employee's beneficiaries are entitled to payment, not exceeding the total sum of Seven Thousand Five Hundred Dollars ($7,500), for the employee's unused accrued sick leave according the employee's number of years of service, as follows: Years of Employment Percent of Accrued Unused With the County Sick Leave for Payment 5-10 35% 10-20 50% Over 20 60% 3. Any employee who resigns in good standing after proper notice or is laid off shall be entitled to payment, not exceeding the total sum of Three Thousand Dollars ($3,000.00), for unused sick leave according to the schedule set forth below. If a sick leave payoff is received as a result of layoff, and the employee is later reinstated, only that sick leave not converted to retirement service credits or paid off at the time of the layoff will be reinstated and the amount of the payoff and the maximum payoff at any future separation from the County will be reduced by the amount paid at layoff. Years of Employment Percent of Accrued Unused With the County Sick Leave for Payment 5-10 35% 10 - 20 50% Over 20 60%
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Method of Compensation for Unused Sick Leave. If any Employee dies and was entitled to payment for accumulated vacation time or sick leave under the provisions of this Agreement, the heirs of such deceased Employee who are given priority to succeed to that Employee's assets under the laws of intestate succession of this State, or the executor or administrator of that Employee's estate, upon submission of satisfactory proof to the County of their entitlement, shall be paid such amount. Upon the death of an Employee or upon an Employee electing to retire, resign or leave County service for any reason, the Employee or the Employee's beneficiaries are entitled to payment of one-quarter of the total hours of sick leave not exceeding the total sum of fifteen thousand dollars ($15,000) for the Employee's unused accrued sick leave, providing the Employee has been working for the County for a period of two years. If employee is killed in the line of duty, the decedent’s spouse or children are entitled to a one hundred percent (100%) payoff of accrued sick leave at the employee’s base hourly rate at the time of death. A retired Employee whose premium has been paid pursuant to Article 16C may also elect, subsequent to this period of time and in addition to it, to have the payment in Paragraph B2, above, applied for continued insurance benefits until such time as the payment for the one-quarter of the total hours of sick leave is exhausted. Should the retired Employee die before the sick leave payment is exhausted in insurance premiums, then his/her spouse or beneficiary shall receive the remainder of the monies owed in a lump sum payment.

Related to Method of Compensation for Unused Sick Leave

  • Method of Compensation It is understood by the parties that, insofar as pay is concerned, employees temporarily filling a position in a higher broadband level shall be paid according to the same compensation method as promoted employees pursuant to the Rules of the State Personnel System.

  • HOLIDAY COMPENSATION FOR TIME WORKED 110. Employees required by their respective appointing officers to work on any of the above specified or substitute holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time-and-one-half the usual rate in the amount of 12 hours pay for 8 hours worked or a proportionate amount for less than 8 hours worked provided, however, that at the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime pursuant to the provisions of Section III.E.2. 111. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of-one-and-one-half times for work on the holiday.

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Regulation D Compensation Each Bank may require the Company to pay, contemporaneously with each payment of interest on the Euro-Dollar Loans, additional interest on the related Euro-Dollar Loan of such Bank at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Dollar Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank wishing to require payment of such additional interest (x) shall so notify the Company and the Administrative Agent, in which case such additional interest on the Euro-Dollar Loans of such Bank shall be payable to such Bank at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Dollar Business Days after the giving of such notice and (y) shall notify the Company at least five Euro-Dollar Business Days prior to each date on which interest is payable on the Euro-Dollar Loans of the amount then due it under this Section.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Developer Compensation for Emergency Services If, during an Emergency State, the Developer provides services at the request or direction of the NYISO or Connecting Transmission Owner, the Developer will be compensated for such services in accordance with the NYISO Services Tariff.

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