Transfer And Payoff Clause Samples
The "Transfer And Payoff" clause defines the process by which a party's obligations or interests under an agreement can be transferred to another party, typically accompanied by the full settlement of any outstanding amounts owed. In practice, this clause outlines the conditions under which such a transfer is permitted, such as requiring the consent of the other party or ensuring that the transferee meets certain qualifications, and specifies how and when the payoff must be completed to effectuate the transfer. Its core function is to provide a clear mechanism for exiting or restructuring contractual relationships, thereby facilitating flexibility and reducing the risk of disputes over remaining obligations.
Transfer And Payoff. Employees who voluntarily transfer from one state department to another shall be paid off at their current base rate of pay for their unused annual leave subject to the applicable cap below. However, the employee may elect, in writing, to transfer up to eighty (80) hours of accumulated annual leave. Annual leave in excess of eighty (80) hours, if any, up to the maximum allowed in accordance with the applicable accumulation cap may be transferred with the approval of the appointing authority to whose service the employee transfers. Employees who separate shall be paid at their current hourly rate for the balance of their unused annual leave subject to the applicable cap below. Service Years Accumulation Cap Payoff Cap 1 – 4 296 256 5 – 9 311 271 10 – 14 326 286 15 – 19 341 301 20 – 24 346 306 25 – 50 356 316
Transfer And Payoff. 34 Employees who voluntarily transfer from one State Department to another shall be paid 35 off at their current rate of pay for their unused annual leave. However, the employee may 36 elect, in writing, to transfer all accumulated annual leave. 37 Employees who separate shall be paid at their current hourly rate for the balance of their 38 unused annual leave, subject to the applicable payoff cap in Section F. ARTICLE 39
Transfer And Payoff. Employees who voluntarily transfer from one State Department to another shall be paid off at their current rate of pay for their unused annual leave. However, the employee may elect, in writing, to transfer all accumulated annual leave. Employees who separate after completion of the initial 720 hours of service shall be paid at their current hourly rate for the balance of their unused annual leave.
Transfer And Payoff. Employees who voluntarily transfer from one state department 44 to another shall be paid off at their current base rate of pay for their unused annual 45 leave subject to the applicable cap below. However, the employee may elect, in 46 writing, to transfer up to eighty (80) hours of accumulated annual leave. Annual 1 leave in excess of eighty (80) hours, if any, up to the maximum allowed in 2 accordance with the applicable accumulation cap may be transferred with the 3 approval of the appointing authority to whose service the employee transfers. 5 Employees who separate after completion of the initial 720 hours of service shall be 7 to the applicable cap below.
Transfer And Payoff. Employees who voluntarily transfer from one state department 30 to another shall be paid off at their current base rate of pay for their unused annual 31 leave. However, the employee may elect, in writing, to transfer up to eighty (80) 32 hours of accumulated annual leave. Annual leave in excess of eighty (80) hours, if 33 any, up to the maximum allowed in accordance with Subsection D immediately 34 above, may be transferred with the approval of the Departmental Employer to whose 35 service the employee transfers. 37 Employees who separate after completion of the initial 720 hours of service shall be 38 paid at their current hourly base rate for the balance of their unused annual leave.
Transfer And Payoff. Employees who voluntarily transfer from one state 9 department to another shall be paid off at their current base rate of pay for their 10 unused annual leave subject to the applicable cap below. However, the 11 employee may elect, in writing, to transfer up to eighty (80) hours of accumulated 12 annual leave. Annual leave in excess of eighty (80) hours, if any, up to the 13 maximum allowed in accordance with the applicable accumulation cap may be 14 transferred with the approval of the appointing authority to whose service the 15 employee transfers. 16 17 Employees who separate shall be paid at their current hourly rate for the balance 18 of their unused annual leave subject to the applicable cap below. 19