Payments At Separation Clause Samples

Payments At Separation. On September 28, 2001, Employer tendered to Employee: (a) a check in the amount of $7,083.33, less normal tax withholding, that was for Employee’s regular salary through September 28, 2001; and (b) a check in the amount of $4,740.93, less normal tax withholding, that was the equivalent of Employee’s accrued but unused vacation through September 28, 2001. On October 7, 2001, Employer tendered to Employee: (a) a check in the amount of $14,166.66 less, normal tax withholding, pursuant to Section V(C) of Employee’s Employment Agreement dated August 1, 2000 (the “Employment Agreement”); (b) a check in the amount of $170,000.00 less normal tax withholding, pursuant to Section V(C)2)(i) of the Employment Agreement; and (c) a check in the amount of $402.83 as reimbursement for Employee’s out-of-pocket expenses through September 28, 2001.

Payments At Separation. When permanent employees covered herein leave the service of the City of Santa ▇▇▇▇▇▇ they shall be entitled to lump sum payoff at the regular rate of pay of unused vacation hours, unused accrued compensatory time and unused paid leave specified in Section 3.07(A)(3). No claim shall be made against the City for the use or payoff of unused sick leave, nor shall the effective date of separation be extended by use of any of the paid leaves described above. If allowed by Section 457 of the Internal Revenue Code (IRC), an employee separating from City service can defer all or a portion of the lump sum payments that the employee is entitled to receive upon separation, with the total amount deferred by the employee for the tax year in question not to exceed the maximum deferral amount allowed under Section 457 of the IRC.