Common use of Payout at Retirement Clause in Contracts

Payout at Retirement. An employee who retires after attaining age 62 with ten (10) years or more of continuous employment shall receive one-half (1/2) of any accumulated unused sick leave credited to him/her at the time of retirement. Upon termination of employment under any other circumstances, an employee shall not be entitled to any payment on account of any unused sick leave.

Payout at Retirement. An employee who retires after attaining age 62 with ten (10) years or more of continuous employment shall receive one-half (1/2) of any accumulated unused sick leave credited to him/her him at the time of retirement. Upon termination of employment under any other circumstances, an employee shall not be entitled to any payment on account of any unused sick leave.

Payout at Retirement. An employee who retires after attaining age 62 with ten (10) years or more of continuous employment shall receive one-half (1/2) of any accumulated unused sick leave credited to him/her him at the time of retirement. Upon termination termi- nation of employment under any other circumstances, an employee shall not be entitled to any payment on account of any unused sick leave.

Payout at Retirement. An employee who retires after attaining age 62 with ten (10) years or more of continuous employment shall receive one-half (1/2) of any accumulated unused sick leave credited to him/her them at the time of retirement. Upon termination of employment under any other circumstances, an employee shall not be entitled to any payment on account of any unused sick leave.