Xxxxxxxxx Pay. The Company will pay Executive a lump sum cash payment, less all applicable withholdings and deductions, in an amount equal to:
Xxxxxxxxx Pay. 41. 1. The City agrees that when involuntarily removing or releasing from employment a represented, exempt employee, the Appointing Officer will endeavor to inform the employee at least thirty (30) calendar days before his/her final day of work. Where the Appointing Officer fails or declines to inform the employee a full thirty (30) days in advance, the member shall receive pay in lieu of the number of days less than thirty
Xxxxxxxxx Pay. The Company will pay to you $420,784, less all applicable taxes and withholdings, as severance pay (an amount equivalent to twelve (12) months of your current base salary). This severance pay will be paid in installments in accordance with the Company’s regular payroll practices, but in no event shall payments begin earlier than the Company’s first payroll date following expiration of the Revocation Period.
Xxxxxxxxx Pay. 1. The Board shall pay to a Teacher who has accrued a minimum of fifteen (15) years of service in the employ of the Board, and who is at least fifty (50) years of age by the end of August in the year of severance, or who has accrued a minimum of then (10) years of service in the employ of the Board, and is at least sixty (60) years of age by the end of August in the year of severance, a severance payment which shall be calculated as follows:
a. Two-Hundred and 00/100 Dollars ($200) for each year of service; and
b. Thirty and 00/100 Dollars ($30) for each day of unused accumulated sick leave up to a maximum of Two Hundred Fifty (250) days.
2. The Board shall pay the first Two Thousand and 00/100 Dollars ($2,000) of the severance pay directly to the Teacher at the end of the school year in which the Teacher leaves the employ of the Board. The Board shall deposit the remaining of the severance pay into the Teacher’s VEBA account during the month of January of the following year.
3. A Teacher shall provide the Business Office with written notification by no later than March 1st of the school year in which the Teacher intends to leave the employ of the Board. In the event the Teacher fails to give such notice on or before March 1st, the Board will still pay the first Two Thousand and 00/100 Dollars ($2,000) of the severance pay directly to the Teacher at the end of the school year in which the Teacher leaves the employ of the Board. However, the Board will then deposit only one-half (1/2) of the remaining severance pay into the Teacher’s VEBA account during the month of January of the following year. The Board will deposit the other one-half (1/2) of the remaining severance pay into the Teacher’s VEBA account during the month of January of the next year.
4. Upon the death of a Teacher who otherwise would have been eligible to receive a severance payment, the Board will make a lump sum deposit of the severance pay into the Teacher’s VEBA account on behalf of their estate.
Xxxxxxxxx Pay. The Company will pay you an amount equal to one and one-half times your Annualized Total Compensation (“Severance Pay”), subject to the execution by you of the Company’s customary release, which amount shall be payable in equal installments on the 15th and last days of each of the 18 months following your Separation Date (if the 15th or last day of a month is not a business day, on the closest business day to such).
Xxxxxxxxx Pay. 102. This section shall only apply to layoffs and non-disciplinary releases.
Xxxxxxxxx Pay. The Company will pay you an amount equal to one times your Annualized Total Compensation (“Severance Pay”), subject to your prompt execution of the Company’s customary release, which amount shall be payable in equal installments on the 15th and last days of each of the 12 months following the 30th day after the date of your Separation from Service (if the 15th or last day of a month is not a business day, on the closest business day to such date. This amount constitutes “Separation Pay” under the terms of the X.X. Xxxxxxxxx & Sons Company Separation Pay Plan (“SPP”) and all provisions of the SPP shall apply thereto and no other amount shall be payable under the SPP. Any disputes regarding Severance Pay will be governed by the claims and appeals procedures of the SPP. All payments made pursuant to this Agreement shall be reduced by applicable tax withholdings.
Xxxxxxxxx Pay. Xxxxxxxxx pay shall be granted to any teacher who has completed at least ten (10) years of service in the Northwest Indiana Special Education Cooperative. The amount of severance shall be computed on the following basis: 10 through 14 years of service ...25% of the last daily rate of the teacher times the number of accumulated sick days of the teacher. 15 through 19 years of service ...30% of the last daily rate of the teacher times the number of accumulated sick days of the teacher. 20 through 29 years of service ...35% of the last daily rate of the teacher times the number of accumulated sick days of the teacher. 30 or more years of service ...40% of the last daily rate of the teacher times the number of accumulated sick days of the teacher. Daily rate shall be defined as a teacher's regular school year salary divided by 185 days solely for the purpose of determining daily rate under this article. For purposes of calculating a teacher’s Severance Pay, a teacher’s accumulated sick leave is capped at one hundred thirteen (113) days.
Xxxxxxxxx Pay. 1. Teachers who leave the Sheffield-Sheffield Lake School System after ten (10) or more years of service with the Sheffield-Sheffield Lake School System shall be paid a lump sum equal to twenty-five percent (25%) of the value of accrued but unused sick leave credit up to a maximum of seventy-five (75) days. Such payment shall be based upon the teacher’s daily rate of pay at the time of separation. Such payment shall be made in two (2) equal installments to the employee’s 403(b) account as established in Section G below. The first payment shall be made at the time of severance. The second payment shall occur during the first month of January following the teacher’s departure.
2. If an employee dies while in the employ of the Sheffield-Sheffield Lake Board of Education, his/her estate shall be paid an amount equal to what the employee would have received had he/she retired.
Xxxxxxxxx Pay. The City agrees that when removing or releasing a represented attorney from employment, the Appointing Officer will endeavor to inform the attorney at least thirty (30) calendar days before the attorney’s final day of work. Where the Appointing Officer fails or declines to inform the attorney a full thirty (30) calendar days in advance, the attorney shall receive pay in lieu of the number of days less than thirty (30) upon which the attorney was informed.
