Common use of Payoff Clause in Contracts

Payoff. Upon the termination of employment, and after thirteen (13) pay periods of employment, an employee shall be entitled to a lump sum payment for any unused or accrued vacation time, as of the date of termination.

Payoff. Upon the termination of employment, and after thirteen (13) pay periods of employment, an employee shall be entitled to a lump sum payment for any accrued but unused or accrued vacation time, as of the date of termination.