Severance Payment for Employees Sample Clauses

Severance Payment for Employees. Hired Prior to the 2008-09 School Year The program will provide a one-time remuneration as defined in the schedule listed below for employees hired prior to the 2008-09 school year: The District will provide a Board paid tax sheltered contribution upon retirement of $10,000 for ten (10) years of active service, exclusive of unpaid leaves. Prior to the expiration of the 1995/96 master agreement, employees earned an additional $1,000 per year of active service to a maximum of $23,000 for twenty-three (23) or more years of active service. Those individuals who have earned a severance payment of $10,000 or more shall have their severance accounts frozen at the June 30, 1996 level and shall no longer accrue an additional $1,000 per year of active service. Paid leaves for which the District makes direct payment, but not to exceed one year per leave period, will qualify as service time.
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Related to Severance Payment for Employees

  • Compensation for Employees Employees shall receive compensation at the biweekly or hourly rate for the range and step or flat rate assigned to the class in which they are employed.

  • Employee Compensation Upon Separation An Employee, upon her separation from employment, shall be compensated for vacation leave to which she is entitled.

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Callout Compensation A regular employee who is called back to work outside their regular working hours shall be compensated for a minimum of three hours at overtime rates. They shall be compensated from the time they leave their home to report for duty until the time they arrive back upon proceeding directly to and from work.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • Holiday Pay for Employees Laid Off An employee who is laid off at the close of business the day before a holiday who has worked not less than five (5) previous consecutive work days shall be paid for the holiday.

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