SICK LEAVE RETENTION INCENTIVE PAYMENT Sample Clauses

SICK LEAVE RETENTION INCENTIVE PAYMENT. Upon separation or termination, other than discharge for cause, a regular full-time or regular part-time employee shall become entitled to payment for accrued sick leave as follows, such payment not to exceed the maximum amounts indicated: Years of Service % of Accrual Eligible Maximum Cash Payment 5 through 9 10% $3,500 10 through 14 25% $4,500 15 through 19 37½% $6,000 20 or more 50% $6,000
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SICK LEAVE RETENTION INCENTIVE PAYMENT. Upon retirement or death, unused sick leave accrued by a unit member shall be paid off in accordance with the table below. Upon resignation, the employee shall become entitled to either a) a maximum payment of fifty percent (50%) of that provided under retirement or death, or
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SICK LEAVE RETENTION INCENTIVE PAYMENT. Upon retirement or death, unused sick leave accrued by a unit member shall be paid off in accordance with the table below. Upon resignation, the employee shall become entitled to either a) a maximum payment of fifty percent (50%) of that provided under retirement or death, or b) the maximum provided non- management employees by the appropriate formula, whichever is greater. Such payoff provisions are applicable whether or not a portion of the accrual was earned in a position other than that from which the employee is terminating. Years of Service Percentage of Accrual Subject to Compensation 5 through 9 20% of first 30 days, 10% of accrual balance 10 through 14 40% of first 60 days, 15% of accrual balance 15 through 19 60% of first 60 days, 30% of accrual balance 20 or more 80% of first 60 days, 45% of accrual balance
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Related to SICK LEAVE RETENTION INCENTIVE PAYMENT

  • Sick Leave Payment Any employee, at his/her option may choose to receive payment for sick leave earned during the year which is unused at the end of the year. Any such payment must be for the total number of unused sick leave hours earned during the year, must be based on the hourly rate of pay of the employee multiplied by 50 percent, and all hours for which payment is received must be deducted from the employee’s accumulated leave balance. Sick leave used during a current year will be charged against the most recently earned sick leave. Hourly rate of pay is the hourly rate at the end of the contract year.

  • Sick Leave Bonus For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

  • Sick Leave Incentive Effective September 1, 1986, employees covered by this Agreement, hired on or after October 1, 1977, who are not entitled to disability leave under State Statute R.C.W. 41.26, shall be eligible for the following sick leave incentive program:

  • 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.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

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