Severance Bonus. Employee will be paid a bonus (the “Severance Bonus”), within seven (7) days following the effective date of termination, equal to 100% of the average of (A) the annual bonus he was paid for year immediately preceding the termination and (B) his target bonus under the Company’s then-current bonus plan if any, less standard payroll deductions and withholdings.
Severance Bonus. 20.01 For the purpose of this Article, an eligible employee is an employee who has worked for more than 10,000 hours with the Employer.
20.02 An eligible employee, other than an employee who receives a disciplinary discharge, shall receive a severance bonus upon termination of their employment.
20.03 Notwithstanding Clause 20.02, if the disciplinary discharge arises substantially because of the employee's inability to perform the duties of the job satisfactorily because of health reasons, the employee shall receive the severance bonus.
20.04 The amount of the severance bonus shall be one-half of the employee's average weekly pay for the twelve months ending the date of termination, multiplied by the number of completed years of continuous service, less any severance bonus previously received.
Severance Bonus. A. The Board shall grant each employee a severance bonus which shall be paid in full within sixty (60) days following actual retirement. The severance bonus shall be computed as follows:
1. Employees who retire shall receive one (1) day of pay for each four (4) credited and/or unused sick days and personal days.
2. The bonus shall be computed by multiplying the appropriate fraction times the number of days accumulated and unused by the employee as of the date of retirement times the daily salary of the employee at the time of retirement. Daily salary shall be one over the number of work days for each particular unit member multiplied times the individual yearly salary of the employee at the time of retirement.
B. To be eligible to receive said bonus, the following conditions must be met:
1. The administrator must have accumulated a minimum of 100 days.
2. The administrator must have notified the Board in writing of their intent to retire at least one (1) year prior to their retirement.
C. The maximum total amount any one employee can receive shall be $16,000. All current employees shall be "grandfathered" as of September 1994. Severance bonus entitlement shall be individually calculated based on their 1994-95 salary and accumulated days. No employee shall receive less upon actual retirement then they are entitled to when the calculation is made. In the event that the Employees’ Association Agreement exceeds $16,000; the Administrators’ Association shall have a right to re-open and re-negotiate the total amount of $16,000.
D. Upon the death of any employee entitled to a severance bonus, the entitlement shall be paid to the estate of the deceased employee within sixty (60) days of the death.
Severance Bonus. 19.01 For the purpose of this Article, an eligible employee is an employee who has worked for more than 10,000 hours with the Employer.
19.02 An eligible employee, other than an employee who receives a disciplinary discharge, shall receive a severance bonus upon termination of the employee employment.
19.03 Notwithstanding Clause 19.02, if the disciplinary discharge arises substantially because of the employee's inability to perform the duties of the job satisfactorily because of health reasons, the employee shall receive the severance bonus.
19.04 The amount of the severance bonus shall be one-half of the employee's average weekly pay for the twelve months ending the date of termination, multiplied by the number of completed years of continuous service, less any severance bonus previously received.
19.05 Employees with less than 10,000 hours of service will receive severance as per Yukon Employment Standards Act.
Severance Bonus. 21.01 For the purpose of this Article, an eligible employee is an employee who has worked for more than 10,000 hours in the continuous service of the Employer.
21.02 An eligible employee, other than an employee who receives a disciplinary discharge, shall receive a severance bonus in the event an employee is laid off.
21.03 Notwithstanding Clause 21.02, if the disciplinary discharge arises substantially because of the employee’s inability to perform the duties of the job satisfactorily because of physical health reasons including a disability as defined in the Workers’ Compensation Act, the employee shall receive the severance bonus.
21.04 The amount of severance bonus shall be one-half of the employee’s average weekly pay for the twelve months ending the date of termination, multiplied by the number of completed years of continuous service.
21.05 The implementation of this Article is subject to sufficient funding.
Severance Bonus. A. The Board shall provide each cafeteria employee with a severance bonus which shall be paid in full within ten (10) days following the actual retirement of the cafeteria employee. The amount of the severance bonus shall be computed in the following fashion:
1. A current cafeteria employee working four (4) hours per day or more, shall be entitled to receive $20.00 per day for each accumulated unused sick leave day and personal leave day which shall stand to the employees credit as of the date of his/her retirement.
2. A current cafeteria employee working less than four (4) hours per day, shall be entitled to receive $10.00 per day for each accumulated but unused sick leave day and personal leave day which shall stand to the employee’s credit as of the date of his/her retirement.
3. For all future employees (those hired as of September 1, 1993 or after) $20.00 per day shall be paid only for employees working 7 1/2 hours per day or more and $10.00 per day shall be paid for those employees working less than 7 1/2 hours per day.
B. The bonus described in Paragraph A hereof, is subject to the following limits:
1. The Board shall not be required to provide more than sixty (60) days credit per employee.
2. To be eligible to receive the aforesaid severance bonus , the employee must provide written notice of his/her intention to retire at least sixty (60) days prior to retirement.
Severance Bonus. For severance purposes, years of experience for retirement purposes will be in accordance with STRS retirement rules. An individual who retires with twenty- seven (27) to thirty (30) years of experience is eligible for a severance bonus of fifteen thousand dollars ($15,000). An individual retiring with thirty-one (31) years of experience is eligible for a severance bonus of fourteen thousand dollars ($14,000). An individual retiring with thirty-two (32) years of experience is eligible for a severance bonus of thirteen thousand dollars ($13,000). An individual retiring with thirty-three (33) years of experience is eligible for a severance bonus of twelve thousand dollars ($12,000). An individual retiring with thirty-four (34) years of experience is eligible for a severance bonus of eleven thousand dollars ($11,000).
Severance Bonus. For severance purposes, years of experience for retirement purposes will be in accordance with STRS retirement rules. An individual who retires with twenty-seven
Severance Bonus. In the event that between the date hereof and December 31, 2003, Employee's employment with the Company is terminated other than due to death, "Disability," "Voluntary Termination" or "Cause," Employee shall be entitled to a Severance Bonus of $50,000, payable at the rate of $10,000 per month on or before the 10th day of each month following the month in which Employee's employment is terminated. In the event Employee's employment is not terminated by the Company on or before December 31, 2003, or Employee's employment is terminated prior to such date due to death, Disability, Voluntary Termination or Cause, then Employee shall not be entitled to a Severance Bonus. For purposes of this Section 2, the following definitions shall apply:
Severance Bonus. For the purpose of this Article, an eligible employee is an employee who has worked for more than five (5) years with the employer. An eligible employee, other than an employee who receives a disciplinary discharge, shall receive a severance bonus upon termination of her employment. Notwithstanding Clause if the disciplinary discharge arises substantially because of the employee's inability to perform the duties of the job satisfactorily because of health reasons, she shall receive the severance bonus. The amount of the severance bonus shall be the employee's average weekly pay for the twelve months ending the date of termination, multiplied by the number of completed years of continuous service.
