Common use of Terminal Payment Benefit Clause in Contracts

Terminal Payment Benefit. An eligible retiring teacher shall receive a terminal payment in an amount equal to Two Hundred and Fifty Dollars ($250.00) for each continuous year of service with the District as a teacher and member of this bargaining unit, but not to exceed in the aggregate Seventeen Thousand Five Hundred Dollars ($17,500.00). Regular Adult Ed Teachers shall count all years of continuous service towards their Terminal Payment Benefit.

Terminal Payment Benefit. An eligible retiring teacher shall receive a terminal payment in an amount equal to Two Five Hundred and Fifty Dollars ($250.00500.00) for each continuous year of service with the District as a teacher and member of this bargaining unit, but not to exceed in the aggregate Seventeen Thousand Five Hundred Dollars ($17,500.00). Regular Adult Ed Teachers shall count all years of continuous service towards their Terminal Payment Benefit.

Terminal Payment Benefit. An For the 2013-14 and 2014-15 school years eligible retiring teacher shall receive a terminal payment in an amount equal to Five Hundred Dollars ($500.00) for each continuous year of service with the District as a teacher and member of this bargaining unit, but not to exceed in the aggregate Seventeen Thousand Five Hundred Dollars ($17,500.00). Beginning with the 2015-16 school year an eligible retiring teacher shall receive a terminal payment in an amount equal to Two Hundred and Fifty Dollars ($250.00) for each continuous year of service with the District as a teacher and member of this bargaining unit, but not to exceed in the aggregate Seventeen Thousand Five Hundred Dollars ($17,500.00). Regular Adult Ed Teachers shall count all years of continuous service towards their Terminal Payment Benefit.