Payout Of Sample Clauses

Payout Of. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his unused accumulated sick leave upon: (a) Retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of B.C., whichever shall last occur, or (b) Retirement with a permanent disability entitling the employee to superannuation, or (c) Death of an employee while in the service of the Board, payable to the employee's estate, or (d) Severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause.
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Payout Of. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his unused accumulated sick leave upon: Retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of whichever shall last occur, or Retirement with a permanent disability entitling the employee to superannuation, or Death of an employee while in the service of the Board, payable to the employee's estate, or Severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause. A record of all accumulated sick leave credits will appear on the employee's pay slip. Upon request, a printed copy of the accumulated sick leave credits will be provided to the Union.
Sample 1

Related to Payout Of

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

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