Payout For Employees in Grandparented STD Plans Who Elect a Payout Sample Clauses

Payout For Employees in Grandparented STD Plans Who Elect a Payout. Employees in grandparented STD plans who have a sick bank and elect to receive a payout as per clause 14B.02(c)(ii) shall be paid out as per the payout formula of their grandparented STD plan.
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Payout For Employees in Grandparented STD Plans Who Elect a Payout. Employees hired prior to <insert date of ratification> (1) who elect the IIP and elect to receive a payout OR (2) who are transferred to the IIP from a Grandparented STD Plan and do not elect to retain their frozen sick bank, shall receive a minimum lump sum payout/payment of $700. Employees in grandparented STD plans who have a sick bank and elect to receive a payout as per clause 11.02(c)(ii) shall be paid out as per the payout formula of their grandparented STD plan.

Related to Payout For Employees in Grandparented STD Plans Who Elect a Payout

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