Common use of Payment on termination of employment Clause in Contracts

Payment on termination of employment. On the termination of employment an Employee’s untaken hours of annual leave will be paid out at Total Salary rate. Where an Employee terminates due to a bona fide retirement due to age (as recognised by Australian superannuation legislation) or due to ill health, their annual leave accrual for the purposes of their termination payment, will be increased to include the additional amount of annual leave, and long service leave that would have accrued should they have continued to have remained employed for the extent of their accrued annual leave and long service leave owing at the time of their retirement. There will be no accruals on these additional accruals.

Payment on termination of employment. On the termination of employment an Employee’s untaken hours of annual leave will be willbe paid out at Total Salary rate. Where an Employee terminates due to a bona fide retirement due to age (as recognised by Australian superannuation legislation) or due to ill health, their annual leave accrual for the purposes of their termination payment, will be increased to include the additional amount of annual leave, and long service leave that would have accrued should they have continued to have remained employed for the extent of their accrued annual leave and long service leave owing at the time of their retirement. There will be no accruals on these additional accruals.