Benefits at Termination Sample Clauses
The "Benefits at Termination" clause defines what happens to employee benefits when an employment relationship ends. Typically, it outlines which benefits—such as health insurance, retirement contributions, or accrued vacation—will continue, terminate, or be paid out upon the employee's departure. For example, it may specify that health coverage ends immediately but unused vacation days are paid in the final paycheck. This clause ensures both parties understand their rights and obligations regarding benefits at the end of employment, reducing confusion and potential disputes.
Benefits at Termination. There shall be no payment of unused PTO benefits upon an employee’s termination during the first year of employment or for voluntary terminations without at least two (2) full calendar weeks advanced written notice to the Employer. In all other terminations, Employee shall be paid for accrued and unused paid time off benefits, to a maximum shown on the chart above. PTO benefits will be paid on the same basis as outlined in Section 14.3 of this Agreement. In the event of lay- off, an employee who still retains call-back rights on their anniversary date will be credited with the PTO benefits earned prior to the lay-off.
Benefits at Termination. There shall be no PTO benefit payments upon an employee’s termination during the probationary period or upon the employees termination for violation of law. In the event of resignation or retirement Employees are required to provide a two week written notice to the Employer. Failure to provide required notice due to resignation, retirement or termination for reasons other than violation of law, may result in forfeiting of one full day (8 hours) of otherwise payable PTO benefit for every day of insufficient notice. However, total payout shall not exceed the equivalent of 240 hours of regular pay. PTO benefits will be paid on the same basis as outlined in Section 14.3 of this Agreement. In the event of lay-off, an employee who still retains call-back rights on his anniversary date will be credited with the PTO benefits earned prior to the lay-off.
Benefits at Termination. If you leave the Company, your own contributions with investments earnings plus Company contribu- tions with investment earnings are payable in a cash lump sum within ninety (90) days of termination. If you wish, most or all of your account may be transferred to your personal RRSP.
Benefits at Termination. I Leave Of Absence . . ..*...................*....... Layoff . . . . . .