Vacation at Retirement Sample Clauses

Vacation at Retirement. Employees leaving on Superannuation, or upon leaving at reaching maximum retirement age, are entitled to vacation as follows: If retiring prior to March 3lst, they receive one-half (1/2) of the usual annual vacation. If retiring March 3lst or later, they receive the full annual vacation.
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Vacation at Retirement. No pay in lieu of vacation will be granted except upon retirement. Retirees will be paid for accumulated vacation upon retirement not to exceed 20 days.
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Vacation at Retirement. An employee who resigns or retires after at least one year of service shall be entitled to compensation at their current rate of pay for any legally accrued and unused vacation leave to their credit at the time of separation. Upon separation from the Employer’s payroll, an employee shall be entitled to compensation at their current rate of pay for all lawfully accrued and unused vacation leave to their credit at the time of retirement. Payment shall not exceed the permissible three (3) year carry-over provided in this Article. In the case of death of an employee, any accrued, but unused vacation leave shall be paid to the administrator of the employee’s estate. In the event that a Supervisor or full-time employee elects a “step- down” to part-time status, all accrued vacation time present immediately prior to such “step-down” shall be paid out upon “step-down.”
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Vacation at Retirement. A retiring employee may receive a lump sum 28 cash payment for no more than 30 days of accumulated, unused vacation. In addition, 29 the employee will be given an opportunity to extend their retirement date to fully utilize 30 any additional accumulated, unused vacation days beyond thirty (30) days. 31
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Vacation at Retirement. ‌ At retirement, an employee may request to work his/her final twelve (12) months employment without vacation in order to be eligible for pay in lieu of vacation. The maximum pay in lieu of vacation is thirty (30) days.
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Vacation at Retirement. Employees leaving on Municipal Pension Plan, or upon leaving at reaching maximum retirement age, are entitled to vacation as follows: If retiring prior to March 3lst, they receive one-half (1/2) of the usual annual vacation. If retiring March 3lst or later, they receive the full annual vacation.
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Related to Vacation at Retirement

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

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