Common use of Payoff at Separation Clause in Contracts

Payoff at Separation. If a temporary employee terminates his/her County employment (separates from County service), the employee shall be paid all currently “credited” PTO hours, as described in subsection 44.3 paragraph A (Crediting and Maximum Accumulation of Paid Time Off) and, in addition, shall be paid off for that portion of PTO hours earned but not credited on the basis of that portion of the straight time hours worked (“STHW”) toward the next increment of two thousand eighty (2080) straight time hours required for crediting of PTO. The formula for the earned but not credited payoff is: STHW divided by 2080 multiplied by 40 multiplied by the current hourly pay rate at separation.

Payoff at Separation. If a temporary employee terminates his/her County employment (separates from County service), the employee shall be paid all currently “credited” PTO hours, as described in subsection 44.3 36.2 paragraph A (Crediting and Maximum Accumulation of Paid Time Off) and, in addition, shall be paid off for that portion of PTO hours earned but not credited on the basis of that portion of the straight time hours worked (“STHW”) toward the next increment of two thousand eighty (2080) straight time hours required for crediting of PTO. The formula for the earned but not credited payoff is: STHW divided by 2080 multiplied by 40 multiplied by the current hourly pay rate at separation.

Payoff at Separation. If a temporary employee terminates his/her County employment (separates from County service), the employee shall be paid all currently “credited” PTO hours, as described in subsection 44.3 35.2 paragraph A (Crediting and Maximum Accumulation of Paid Time Off) and, in addition, shall be paid off for that portion of PTO hours earned but not credited on the basis of that portion of the straight time hours worked (“STHW”) toward the next increment of two thousand eighty (2080) straight time hours required for crediting of PTO. The formula for the earned but not credited payoff is: STHW divided by 2080 multiplied by 40 multiplied by the current hourly pay rate at separation.