Common use of Termination and Severance Pay Clause in Contracts

Termination and Severance Pay. Employees who terminate their employment with the City for any reason shall have their termination pay computed in the following manner. (A) They shall be compensated for any earned vacation and bonus vacation including any vacation carried over from the previous year plus vacation earned the year in which the in the employee terminated. The computation of the vacation earned in the year in which the employee terminated shall be in accordance with the following table: Entitled to 2 weeks - 0.916 x the number of months worked Entitled to 3 weeks - 1.333 x the number of months worked Entitled to 4 weeks - 1.750 x the number of months worked Entitled to 5 weeks - 2.166 x the number of months worked Entitled to 6 weeks - 2.583 x the number of months worked (B) In addition to the above, the employee shall be paid for any holidays worked for which he has not been compensated either in the form of pay or time off. If the employee was entitled to discretionary holidays and has not taken them and terminates on or before June 30, they shall receive pay for one (1) discretionary holiday. If the employee terminates after June 30, they shall receive pay for two (2) discretionary holidays. (C) Employees who retire or die or who separate in good standing from employment after twenty-five (25) years of service shall also receive severance pay for unused sick time in accordance with the provisions of Section 2125.67, Accumulation of Sick Days. (D) An employee shall be entitled to the pay-outs herein no later than 90 days after said employee terminates.

Termination and Severance Pay. Employees who terminate their employment with the City for any reason shall have their termination pay computed in the following manner. (A) They shall be compensated for any earned vacation and bonus vacation including any vacation carried over from the previous year plus vacation earned the year in which the in the employee terminated. The computation of the vacation earned in the year in which the employee terminated shall be in accordance with the following table: Entitled to 2 weeks - 0.916 -.916 x the number of months worked Entitled to 3 weeks - 1.333 -1.333 x the number of months worked Entitled to 4 weeks - 1.750 -1.750 x the number of months worked Entitled to 5 weeks - 2.166 -2.166 x the number of months worked Entitled to 6 weeks - 2.583 -2.583 x the number of months worked (B) In addition to the above, the employee shall be paid for any holidays worked for which he has not been compensated either in the form of pay or time off. If the employee was entitled to discretionary holidays and has not taken them and terminates on or before June 30, they shall receive pay for one (1) discretionary holiday. If the employee terminates after June 30, they shall receive pay for two (2) discretionary holidays. (C) Employees who retire or die or who separate in good standing from employment after twenty-five (25) years of service shall also receive severance pay for unused sick time in accordance with the provisions of Section 2125.67, Accumulation of Sick Days. (D) An employee shall be entitled to the pay-outs herein no later than 90 days after said employee terminates.

Termination and Severance Pay. Employees who terminate their employment with the City for any reason shall have their termination pay computed in the following manner. (A) A. They shall be compensated for any earned vacation and bonus vacation including any vacation carried over from the previous year plus vacation earned the year in which the in the employee terminated. The computation of the vacation earned in the year in which the employee terminated shall be in accordance with the following table: Entitled to 2 weeks - 0.916 x the number of months worked Entitled to 3 weeks - 1.333 x the number of months worked Entitled to 4 weeks - 1.750 x the number of months worked Entitled to 5 weeks - 2.166 x the number of months worked Entitled to 6 weeks - 2.583 x the number of months worked (B) B. In addition to the above, the employee shall be paid for any holidays worked for which he has not been compensated either in the form of pay or time off. If the employee was entitled to discretionary holidays and has not taken them and terminates on or before June 30, they he shall receive pay for one (1) discretionary holiday. If the employee terminates after June 30, they 30 he shall receive pay for two (2) discretionary holidays. (C) C. Employees who retire or die or who separate in good standing from employment after twenty-five (25) years of service shall also receive severance pay for unused sick time in accordance with the provisions of Section 2125.672129.57, Accumulation of Sick Days. (D) D. An employee shall be entitled to the pay-outs herein no later than 90 days after said employee terminates.