Termination Pay definition

Termination Pay means a payment made by the Company to the Executive pursuant to Section 2(a)(ii) or Section 2(b)(ii) hereof.

Termination Pay means those payments so described in Section 8.2 hereof.

Termination Pay means an Employer’s payment to the ASRS of an Eligible Member’s pay received as a result of terminating employment to purchase Service Credit as specified in A.R.S. § 38-747(B)(2).

Examples of Termination Pay in a sentence

• In this regard, the Executive shall not be entitled to Termination Pay hereunder for more than one position with the Company and its Affiliates.

• The full amount of Termination Pay shall be paid in a lump sum in cash to the Executive within ten (10) days following receipt by the Company of a Mutual Release which is properly executed by the Executive; provided, however, that in the event applicable law allows the Executive to revoke the Mutual Release for a period of time, and the Mutual Release is not revoked during such period, the full amount of Termination Pay shall be paid to the Executive following the expiration of such period.

• In addition, if the Executive shall timely deliver (and shall not have revoked) the Release, the Company shall simultaneously with the payment of Termination Pay execute a release of all claims it may have against the Executive arising out of the Executive’s employment, other than claims arising under this Agreement or otherwise relating to covenants and obligations of the Executive intended to continue following the Executive’s termination of employment.

• Executive shall be entitled to Termination Pay in the event of certain terminations described in Article 5 hereunder.

• This category includes Elected Officials, Statutory Board Members, Regular Salaries, Overtime, Termination Pay and other miscellaneous pays.

More Definitions of Termination Pay

Termination Pay means, for each week of notice an employee is entitled to, the amount obtained by totalling the employee's weekly wages, at the regular wage, during the last 8 weeks in which the employee worked normal or average hours of work and dividing the total by 8;

Termination Pay means any lump sum that is paid at the member's termination

Termination Pay means any form of bona fide vacation and/or sick leave, severance pay, amounts provided under a window or early retirement incentive plan, or other payments paid at the time of retirement and termination of employment.

Termination Pay means the amount paid to a Participant upon termination of County employment as a redemption of unused accrued benefits as provided in Los Angeles County Code Section 6.24.040A or as leaving vacation described in Los Angeles County Code Section 6.18.070C (these accrued benefits commonly referred to as “Time Certificates”). The Termination Pay taken into account for all purposes under the Plan shall be limited in accordance with Code Section 401(a)(17).

Termination Pay. Any teacher who retires under TRS, with at least fifteen years of which have been served in the Trout Creek School District, will receive termination pay equal to fifty percent (50%) of the difference between teacher’s annual salary at the time of retirement minus the base salary on the salary schedule. The District shall determine whether the termination pay would occur from the fiscal year retired, or on July 1 of the following school fiscal year. This Agreement will be effective beginning July 1,2020 through June 30 2022.

Termination Pay shall consist of (i) twelve months' salary, which shall be paid in six monthly installments of $66,666.66 each, commencing on the first day of the month after the month in which termination occurred and continuing on the first day of each month thereafter until all six installments have been paid; and (ii) the product of the Bonus to which Xxxxxxxx would be entitled, multiplied by a fraction having a numerator equal to the number of days in the annual period preceding the date of termination and a denominator equal to 365, which shall be paid to Xxxxxxxx no later than 90 days after the end of the annual period in which termination occurred.

Termination Pay to Mitcham in full settlement of any and all claims of Mitcham arising out of or in connection with her employment by the Company which shall be evidenced by a general release and waiver of claims against the Company and its affiliates in a form reasonably acceptable to the Company executed by Mitcham. The "Termination Pay" shall consist of (i) twelve months' salary, which shall be paid in six monthly installments of $47,000 each, commencing on the first day of the month after the month in which termination occurred and continuing on the first day of each month thereafter until all six installments have been paid; and (ii) the product of the Bonus to which Mitcham would be entitled, multiplied by a fraction having a numerator equal to the number of days in the annual period preceding the date of termination and a denominator equal to 365, which shall be paid to Mitcham no later than 90 days after the end of the annual period in which termination occurred. Such payments shall be made in accordance with the Company's customary payroll practices and shall be subject to applicable withholding and payroll deductions.