Payment on Retirement. Salary payments due a teacher retiring under the rules of the Teacher's Retirement Association shall be paid within thirty (30) days of cessation of employment.
Payment on Retirement. 1. On retirement a regular employee having accrued sick leave to his credit shall receive an allowance in lieu thereof equal to one (1) day pay based on the average hourly rate to a maximum of one hundred (100) days pay as follows:
i) Twenty-five percent (25%) for employees having completed five (5) years continuous service with the Board.
ii) Fifty percent (50%) for employees having completed ten (10) years continuous service with the Board.
iii) Seventy-five percent (75%) for employees having completed fifteen (15) years continuous service with the Board.
iv) One hundred percent (100%) for employees having completed twenty- five (25) years continuous service with the Board.
2. Base hourly rate shall include split shift differential and industrial first aid allowances as determined by Article
3. In order to be eligible for retirement payout the employee must notify the Board by February 1 of the prior fiscal period of their intent to retire. If an employee fails to give the required notice period in order to allow the Board to budget for the payout then the Board may opt to pay out the retirement allowance in the year following an employees' retirement.
Payment on Retirement. Upon retirement, the Township will make a Cash Payment of that shall not exceed $15,000, except for employees whose accumulated balance as of the contract signing date exceeds $15,000. For those employees whose balance exceeds $15,000 as of the contract signing date, their maximum shall be the balance as of June 30, 2014. The formula for the Sick Leave Payment is as follows: The employee must have a positive balance of hours based on the following calculation: 50% of all sick time earned, less all sick time used The calculation for the Cash Payment is made at the time of retirement, therefore, sick time used can be “replenished” in subsequent years Sick leave payment on retirement is calculated at 50% of sick time earned, less sick time used, plus unused personal time plus pre-1987 sick leave bonus times hourly wage at the time of retirement The Cash Payment is based on the hourly base wage at the time of retirement
Payment on Retirement. Employees retiring with a minimum of five (5) years continuous service immediately preceding retire- ment and being at least fifty-five (55) years of age with a combination of age and service totaling seventy (70), shall be paid ten (10) days’ pay at their base rate. For new hires on or after January 1, 2011, a minimum of ten years continuous service will be required, in addition to the other requirements, to qualify for this benefit.
Payment on Retirement. 16 TABLE OF CONTENTS (Continued) PROVISIONS RELATING TO AMOUNT PAYABLE ON DEATH, PARTIAL SURRENDER, AND SURRENDER Amount Payable On Death of Participant
Payment on Retirement. Retirement of a Partner, whether by (a) withdrawal of such Partner's entire Capital Account, or (b) action of the General Partner under Section 8.04, shall be subject to the provisions of Article 10.
Payment on Retirement. In the event that a Participant terminates employment with the Plan Sponsor prior to the end of the Plan Period because of the Participant's retirement (determined in accordance with the Plan Sponsor's then existing policies for determining the timing of an executive's retirement), payment of the Participant's Award will be made to the Participant for work performed to the date of retirement. The amount of the Award shall be determined by the Plan Committee in accordance with Section 6.4.
Payment on Retirement. Except as otherwise provided in this Section 1(c) or in the Employment Agreement, if Recipient voluntarily terminates his employment with the Company after Recipient attains age 67 with the intention of not seeking further full time employment at termination the Company shall deliver [all of the shares of Common Stock underlying the total number of RSUs subject to this Agreement] [the number of shares of Common Stock determined by multiplying the total number of RSUs subject to this Agreement by a percentage calculated by dividing the number of whole months elapsed from the date of this Agreement to the date of the third anniversary of the date of Recipient’s termination of employment by 60].
Payment on Retirement. Retirement of a Partner, whether by (a) withdrawal of such Partner's entire Capital Account or (b) action of the General Partner under Section 5.04, shall be subject to the provisions of Article X.
Payment on Retirement. 1. On retirement a regular employee having accrued sick leave to his/her credit shall receive an allowance in lieu thereof equal to one (1) day pay based on the average hourly rate to a maximum of one hundred (100) days pay as follows:
i) Twenty-five percent (25%) for employees having completed five
