Common use of Cash Equivalent Clause in Contracts

Cash Equivalent. Cash equivalent on ceasing employment (for reasons other than dismissal for serious misconduct) occurs at or after 7 years calendar years continuous service payable, on a pro rata basis for part- time and casual employees. Where an employee dies, the amount which would have been payable to that employee had that employee retired or been dismissed on the date on which the employee actually died shall be paid to the employee’s estate.

Cash Equivalent. (a) Cash equivalent on ceasing employment (for reasons other than dismissal for serious misconduct) occurs at or after 7 years calendar years continuous service payable, payable on a pro rata basis for part- part-time and casual employees. . (b) Where an employee dies, the amount which would have been payable to that employee had that employee retired or been dismissed on the date on which the employee actually died shall be paid to the employee’s estate.

Cash Equivalent. Cash equivalent on ceasing employment (for reasons other than dismissal for serious misconduct) occurs at or after 7 years calendar years continuous service payable, on a pro rata basis for part- part-time and casual employees. Where an employee dies, the amount which would have been payable to that employee had that employee retired or been dismissed on the date on which the employee actually died shall be paid to the employee’s estate.