Common use of TERMINATION PAY ALLOWANCE Clause in Contracts

TERMINATION PAY ALLOWANCE. Employees who resign or are terminated after ten years of service shall be paid for accumulated sick leave on the basis of one hour for every two hours of accumulated sick leave. Employees newly hired on or after July 1, 2004 who resign or are terminated after ten years of service shall be paid for accumulated sick leave on the basis of one hour for every three hours of accumulated sick leave. If an employee dies while in service after the completion of ten years of service on or after July 1, 1987, his/her beneficiary or estate shall receive payment. The maximum termination pay allowance shall not exceed 400 hours. Employees not recalled from layoff within four years from the date of layoff shall be deemed terminated. At the time of layoff an employee eligible for termination pay as provided in paragraph one above has the option of resigning and collecting all such termination pay due him/her and giving up his/her right to be recalled under Article XVI of this Agreement.

TERMINATION PAY ALLOWANCE. Employees who resign or are terminated after ten years of service shall be paid for accumulated sick leave on the basis of one hour for every two hours of accumulated sick leave. Employees newly hired on or after July 1, 2004 who resign or are terminated after ten years of service shall be paid for accumulated sick leave on the basis of one hour for every three hours of accumulated sick leave. If an employee dies while in service after the completion of ten years of continuous service on or after July 1, 1987, his/her beneficiary or estate shall receive payment. The maximum termination pay allowance shall not exceed 400 hours. Employees not recalled from layoff within four years from the date of layoff shall be deemed terminated. At the time of layoff an employee eligible for termination pay as provided in paragraph one above has the option of resigning and collecting all such termination pay due him/her and giving up his/her right to be recalled under Article XVI of this Agreement.