Payout Sample Clauses

Payout. At the commencement of the period of leave, the College shall pay to the participant the moneys standing to his/her credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.

Payout. Employees will be allowed to bank overtime and stand-by time with the understanding that any time in excess of five (5) days each must be taken as time off by the last pay period in May following the year in which it was earned, or it will be paid out by the second pay period in June.

Payout. Any wages due for work performed will be paid as directed by state law and this Agreement.

Payout. It is the intent of the Parties that Annual Leave be taken in the year in which earned. In the unusual circumstances that the full annual leave entitlement is not taken by the end of the calendar year, the days remaining to the Employee's credit will be paid out by February 15th of the subsequent year unless carried over in accordance with Article 17.9 or unless paid out at the time of ending of employment.

Payout. In order to receive any award under this Agreement, Recipient must be employed by the Company on December 31, (the “Vesting Date”), except as provided by Sections 3.2, 3.3, 3.4, 3.5 and 4.

Payout. To Seller's Knowledge, the payout balances with respect to any of the Properties operated by the Partnership that are subject to future change on account of reversionary interests, non-consent penalties or similar agreements or arrangements are set forth on Schedule 4.1(z) and are correct as of the dates shown on such statements.

Payout. In the event the employee received sick leave payout at the time of layoff, he/she may elect to have all his/her sick leave accruals reinstated at the time of re- employment by reimbursing the Department the amount of the payout for sick leave at the time of layoff. In the event reimbursement is made, the employee will remain eligible for sick leave payout as described in 12.13

Payout. Subject to Section 9 of the Plan, as soon as practicable following the end of the Award Cycle, but in no event later than the 15th day of the third month thereafter, the Committee shall determine and certify to the number of Performance Units earned hereunder and, after the Committee certifies in writing the number of Performance Units earned and that all other material terms of the award have been satisfied, earned Performance Units, if any, will be paid to the Participant, or on the Participant’s death, to the Participant’s beneficiary under the Plan, by issuing a certificate for shares of Common Stock equal in number to the earned Performance Units (disregarding any fraction).

Payout a. The Board will pay out the incentive bonus either in the year the employee retires or during the year following retirement and shall be calculated as a percentage of the employee’s salary scale in the following amounts: Age in Month of Retirement Percentage of Annual Salary 55-59 years of age 35% 60-64 years of age 25% b. The salary used in the calculation of the incentive bonus will be based on an average of the employee’s five best years of service.

Payout. Employees who retire on pension, or who voluntarily terminate their employment, or who are permanently laid off, shall upon such retirement, voluntary termination or permanent lay-off, be paid any sick leave accumulation they may have to their credit. Employees who have a sick leave credit balance in excess of twelve (12) days [ninety-six (96) hours], on each December 31st, shall receive a cash payout to a maximum of six (6) unused sick leave days [forty-eight (48) hours], provided no employee's sick leave bank shall fall below twelve (12) days [ninety-six (96) hours], as a result of a cash payout. Eligible employees shall receive a cash payout prior to January 31st of each year. Employees, if found abusing the privileges of this Article, shall be disciplined by the Employer. In such cases, the Employer may discontinue or reduce the benefits of the employee, or terminate the employee, but any such termination shall be subject to the Grievance Procedure. Accumulated sick leave information will be shown on the weekly pay stub. The Employer shall apply any accumulated sick leave to absences due to sickness or non- compensable accident not covered by insured Weekly Indemnity Benefits and may supplement Weekly Indemnity at the employee's request, but not to exceed the employee's normal earnings. Employees shall provide as much notice as possible when they are unable to report for a scheduled shift. Employees shall make a reasonable effort to notify the Employer of the absence as well as advising the Employer as to the estimated length of the absence and give notice of when they are able to return to work.