Termination/Severance Pay. To be eligible for benefits under this program, a teacher shall be employed for at least ten (10) consecutive years of service by the Xxxxx Township School Board of Education.
Termination/Severance Pay a. Provided the bargaining unit member gives notice of resignation by March 1 effective at the end of the school year, upon leaving the Bexley School system after ten (10) years of service in the Bexley School system, bargaining unit members shall be paid remuneration for their unused sick leave according to the following provisions:
b. The amount to be paid to the bargaining unit member terminating shall be determined by multiplying the number of days credit by the daily rate of pay.
c. The daily rate of pay shall be the bargaining unit member’s salary at the time of termination divided by the number of days in the contract year.
d. The number of days of credit shall be one-fourth (1/4) of the number of accumulated days of unused sick leave to a maximum of twenty-six and one-quarter (26.25) days.
Termination/Severance Pay. The Employment Period will terminate upon the first to occur of the following events:
(i) the effective date of Executive's resignation, for which Executive agrees to give at least 90 days' prior written notice to the Board;
(ii) Executive's death;
(iii) if, as a result of the Executive's inca-pacity due to physical or mental illness, the Executive shall have been unable to perform the essential duties of his position despite the provision of reasonable accommodations for any six (6) months (whether or not consecutive) during any twelve (12) month period ("Disability");
(iv) Executive's termination for Cause (as hereinafter defined); or
(v) the determination by the Board that Executive's continued employment is not in the best interests of the Company. In the event that Executive's employment hereunder shall be terminated for any reason other than the Executive's resignation, death, Disability, or termination
Termination/Severance Pay. The amount of notice of termination or pay in lieu of notice of termination will be determined by this Agreement or the Employment Standards Act, whichever is greater. Employees terminated as a result of culpable conduct shall not be entitled to severance pay except where it is mutually agreed upon between the parties or part of an arbitration award.
a. For employees in the position of Engineering Technician or Research Assistant Technician who have five (5) or more years of service, severance pay shall be paid at the conclusion of the period of notice of layoff based on the following calculation:
1. Five (5) years completed service, one (1) month’s pay;
2. Each additional year of service, two (2) weeks’ pay up to a maximum of three (3) months’ pay In special circumstances and upon consultation with the Department of Human Resources, departments may exceed this payment provided that any payment for severance must be available from the research grant or contract, and that the amount of severance pay does not detrimentally affect the operations of the department.
Termination/Severance Pay. The term of this Agreement will terminate upon the first to occur of (i) January 31, 2008, (ii) Executive’s death or permanent disability (as determined by the Board of Directors in its good faith judgment) or (iii) the date on which the Company’s Board of Directors terminates Executive’s employment for Cause (as defined below). In the event that the Company shall terminate Executive’s employment prior to January 31, 2008, otherwise than pursuant to clause (ii) or (iii) above, the Company shall pay severance pay to Executive by continuing the Base Salary, as well as all additional benefits described in Paragraph 1(b) and in effect at the time of such termination (other than medical, dental and vision benefits, which will be provided only on the terms set forth in Paragraph 1(e)), until January 31, 2008, and by paying Executive a prorated bonus for the fiscal year of the Company in which such termination occurs, if Executive would have earned any bonus under the Company’s bonus plan for such fiscal year. Such payments of Base Salary shall be made in bi-weekly installments, and such prorated bonus, if any, shall be paid when bonuses for such fiscal year are paid to Company employees in the ordinary course of business. For purposes of this Agreement, “Cause” shall mean by determination of the Company’s Board of Directors in its good faith judgment that Executive has: (1) knowingly committed gross misconduct in the performance of his duties, (2) knowingly committed gross negligence or gross nonfeasance in the performance of his duties, (3) committed an act of financial dishonesty against the Company or any of its subsidiaries, parents or affiliates, or (4) committed any felony involving moral turpitude. In the event this Agreement is terminated at any time and for any reason, (i) Executive will have the option to purchase the Company-paid automobile in his possession at the depreciated book value of said automobile; and (ii) Executive will automatically become the owner of his Company-paid whole life insurance policies.
Termination/Severance Pay. The amount of notice of termination or pay in lieu of notice of termination will be determined by this Agreement or the Employment Standards Act, whichever is greater. Employees terminated as a result of culpable conduct shall not be entitled to severance pay except where it is mutually agreed upon between the parties or part of an arbitration award.
a. For employees in the position of Engineering Technician or Research Assistant Technician who have five (5) or more years of service, severance pay shall be paid at the conclusion of the period of notice of layoff based on the following calculation:
1. Five (5) years completed service, one (1) month’s pay;
2. Each additional year of service, two
Termination/Severance Pay. It is understood by and between the parties to this Agreement that EMPLOYEE, in providing City Manager's duties to the CITY, serves at the pleasure of the City Council. EMPLOYEE may be terminated only by an affirmative vote of a majority of the City Council, convened in a Regular or Special Council meeting. Except as is otherwise provided herein, the City Council shall furnish EMPLOYEE with a written notice stating the City Council’s intention to terminate his employment with the CITY at least 30 days before the effective date of his termination. Such vote shall not be taken within ninety (90) days after 1) any election to which a council member has been elected or, 2) a new council member has been appointed. Notwithstanding anything to the contrary stated in this Agreement, any severance paid to EMPLOYEE pursuant to this Agreement shall be the lesser of the amount calculated pursuant to Cal. Gov’t Code section 53260(a) or the amount calculated pursuant to this Agreement.
Termination/Severance Pay. SECTION 1. Employees are entitled to compensation for accumulated but unused vacation leave only at the time of separation of service. Payment for accumulated but unused vacation leave and any earned compensatory time (pay) that is banked at separation is at the employee’s current rate of pay. Employees who leave employment prior to the completion of their first year are not entitled to receive compensation for accrued vacation hours.
Termination/Severance Pay. 12.1 The employment shall automatically terminate 31 December 2014 as set out in Clause 1.1.
(a) Beyond the case in Clause 12.1. the employment relationship can be terminated prior to 31 December 2014 by (i) mutual agreement, by (ii) extraordinary termination, or (iii) upon exercise of the “Call Option” or the “Buy-Out Option” (as those terms are defined in the Share Exchange Agreement) and the payment to the Executive in cash of the full Call Option Price or Buy-Out Option Price (as those terms are defined in the Share Exchange Agreement).
(b) In the event that:
(i) the Call Option or the Buy-Out Option is exercised and paid in full and the Company thereafter elects to terminate the employment of the Executive pursuant to clause (iii) of Clause 12.2(a) above for reasons other than an extraordinary termination, or
(ii) the Executive shall terminate this Agreement by reason of the occurrence of one or more events described in Clause 12.2(d) below, then and in either event, the non-competition provisions set forth in Section 8.4 of the Share Exchange Agreement shall terminate.
(c) The Company or the Executive may terminate the employment relationship by extraordinary termination in the event that the other party (i) willfully or by gross negligence commits a grave violation of any substantive obligations arising from the employment relationship, or (ii) otherwise engages in conduct rendering further existance of the employment relationship impossible. For the avoidance of doubt, the Company shall have grounds for extraordinary termination of the employment of the Executive, if the Executive (a) is convicted of any crime or other felony, (b) misappropriates any funds, business, opportunity or other benefit belonging to the Company, (c) engages in any competitive activities, (d) fails to devote his full business and professional time to the affairs of the Company and the Company Group, (e) is in material breach of his obligations under this Agreement or otherwise fails or refuses, after written notice of not less than twenty (20) days, to following the reasonable requests and direction of the Board of Directors of the Company, or (f) engages in any other act or omission that would constitute gross negligence, fraud or dereliction of his duties hereunder. In any of these events committed by the Executive, the Executive shall be entitled to receive no further benefits (including Annual Bonus) under this Agreement from and after the date of termination.
(d) Groun...
Termination/Severance Pay. (a) Notwithstanding any provision of this Agreement to the contrary, the employment of the Executive hereunder shall terminate on the first to occur of the following:
(i) the date of the Executive's death;
(ii) the date on which the Company shall give the Executive notice of termination on account of Disability (as defined below);
(iii) the date on which the Company shall give the Executive notice of termination for Cause (as defined below);
(iv) expiration of the Term; or
(v) the date specified by the Company on the notice of termination which shall be delivered to the Executive for termination of employment for any reason other than the reasons set forth in (i) through (iv), above, which date shall be no later than ninety (90) days following the date of receipt of such notice of termination.
(b) The Company shall have the right in its discretion to terminate the Executive's employment for "Disability," which shall be deemed the reason for such termination if, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall have been absent from the full-time performance of the Executive's duties with the Company for a period of one hundred twenty (120) consecutive days during the Term, or a period or periods aggregating more than one hundred twenty (120) days in any six (6) consecutive month period during the Term. The Executive agrees to submit to such medical examinations as may be necessary to determine whether a Disability exists, pursuant to reasonable requests which may be made by the Company from time to time.
(c) For purposes of this Agreement:
