Xxxxxxxxx Pay and Cash Payment Early Retirement Incentive Sample Clauses

Xxxxxxxxx Pay and Cash Payment Early Retirement Incentive. 1. An employee of the Board, upon retirement from active service under provisions of the appropriate public employees retirement system shall receive severance pay equal to one-fourth (1/4) of his/her accumulated Sick Leave days up to fifty-one (51) days (204 x 0.25): Additionally, the employee shall receive one tenth (1/10) of his/her accumulated sick leave beyond 204 accumulated days to a maximum thirteen (13) additional days of paid severance for the 2017-18 school year, and a maximum of fourteen
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Related to Xxxxxxxxx Pay and Cash Payment Early Retirement Incentive

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Vacation Pay on Retirement Termination is as follows:

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Deferred Salary Leave Plan 1. The Board shall administer a Deferred Salary Leave Plan as determined by a separate agreement.

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