Method of Pay-out Sample Clauses

Method of Pay-out a. Subject to the limitations listed below, the school district will contribute an amount equal to the value of the employee’s severance pay directly into the School Board approved 403b vendor account. The retiree will not receive any direct payment from the school district for the severance pay.
Sample 1Sample 2Sample 3See All (23)
AutoNDA by SimpleDocs
Method of Pay-out. Subject to the limitations listed below, the school district will contribute an amount equal to the value of the employee’s severance pay directly into the School Board approved 403b vendor account. The retiree will not receive any direct payment from the school district for the severance pay. The school district’s annual contribution into the School Board approved 403b vendor account must not exceed the IRS contribution limit. If the amount calculated in A exceeds the available limits in the year of separation, the excess amount will be paid out in cash and not be tax sheltered. The school district contribution(s) (into the approved 403b vendor account) will be made according to the same timeline as was provided for the direct payment of the severance pay. The school district will make the severance pay contributions to the School Board approved 403b vendor. For purposes of calculating the maximum IRS contribution limit, the school district will provide the retiree or approved vendor with contribution information for the previous twelve (12) months of employment. The vendor agrees to calculate the maximum IRS contribution limit.
Sample 1

Related to Method of Pay-out

  • Method of Pay (a) Bi-weekly pay rates shall be derived from monthly rates in accordance with the following formula: monthly rate x 12 = bi-weekly rate

  • Method of Payback The employee must choose one (1) of the following options for paying back the overpayment:

  • Method of Payment Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee:

  • Compensation and Method of Payment Subject to any limitations set forth below or elsewhere in this Agreement, District agrees to pay Consultant the amounts specified in Exhibit B “Compensation”. The total compensation, including reimbursement for actual expenses, shall not exceed Four Thousand Five Hundred Dollars ($4,500.00), unless additional compensation is approved in writing by the District.

  • 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.

  • Time and Method of Payment (Amounts Distributed by the Administrative Agent). Except as otherwise provided in Section 4.02, all amounts payable to any Funding Agent or Investor hereunder or with respect to the Series 2019-1 Class A-1 Advance Notes shall be made to the Administrative Agent for the benefit of the applicable Person, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. The Administrative Agent will promptly, and in any event by 5:00 p.m. (Eastern time) on the same Business Day as its receipt or deemed receipt of the same, distribute to the applicable Funding Agent for the benefit of the applicable Person, or upon the order of the applicable Funding Agent for the benefit of the applicable Person, its pro rata share (or other applicable share as provided herein) of such payment by wire transfer in like funds as received. Except as otherwise provided in Section 2.07 and Section 4.02, all amounts payable to the Swingline Lender or the L/C Provider hereunder or with respect to the Swingline Loans and L/C Obligations shall be made to or upon the order of the Swingline Lender or the L/C Provider, respectively, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. Any funds received after that time on such date will be deemed to have been received on the next Business Day. The Master Issuer’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Master Issuer to the Administrative Agent as provided herein or by the Trustee or Paying Agent in accordance with Section 4.02, whether or not such funds are properly applied by the Administrative Agent or by the Trustee or Paying Agent. The Administrative Agent’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Administrative Agent to the applicable Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent.

  • Method of Selection Bidder will be selected under Cost Based Selection-L1 (CBS) and procedures described in this Tender Document.

  • Method of Application Applicants for the SORACOM Air Global Service (each such applicant, an “Applicant”) shall apply for the SORACOM Air Global Service via the on-line sign-up in accordance with the procedure specified by SORACOM after the Applicant agrees to the General Terms (such application, the “Application”).

  • Method of Service A Notice may be given by:

  • METHOD OF AWARD Select a method of award below for vehicles built to specifications at the OEM factory, and/or pre-existing inventory, as applicable. Method of Award for Vehicles Built to Specifications at the OEM Factory: Lowest price to a single contractor that can meet the specified delivery date, and supply the total number of vehicles requested. Method of Award for Pre-Existing Inventory Vehicles: Lowest price to a single contractor that can meet the specified delivery date, and provide the total number of vehicles requested. Lowest price for each contractor responding to the mini-bid will be determined by calculating the sum of the Total NYS Contract Price for Mini-Bid for all vehicles bid (i.e., the Grand Total NYS Contract Price of Vehicles Bid). Lowest price, per vehicle (i.e., the Total NYS Contract Price for Mini-Bid), to multiple Contractors that can meet the specified delivery date.

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