Common use of DROP Participants Clause in Contracts

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section C, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section F, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4, above).

Appears in 4 contracts

Samples: Letter of Agreement, Agreement, Agreement

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DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years' longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C.5, above).

Appears in 2 contracts

Samples: Agreement, Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C, above).

Appears in 2 contracts

Samples: Agreement, Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CE., above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FI., above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4D., above).

Appears in 2 contracts

Samples: Agreement, Letter of Agreement

DROP Participants. At the time an employee elects elect to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section C, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section F, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4, above).

Appears in 2 contracts

Samples: Agreement, Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C. 5, above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as a part of their payoff, a prorated amount of longevity compensation as described in Section CSections D.6. and D.7., above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FC, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4D.2., above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, receive as part of their payoff, a prorated amount of longevity compensation as described in Section C, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4B.5, above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CC., above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FF., above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4., above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4, C above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CE, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FI, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4D, above).

Appears in 1 contract

Samples: Letter of Agreement

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DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years' longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C.5., above).

Appears in 1 contract

Samples: Letter of Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD., above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FH., above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C., above).. ARTICLE 31

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FH, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C, above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section C, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4B.,5., above).

Appears in 1 contract

Samples: Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section CD, above. Payment for the balance of the DROP years' longevity payment and subsequent longevity payments shall be made in December of each year as described in Section FG, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.4C.4, above).

Appears in 1 contract

Samples: Letter of Agreement

DROP Participants. At the time an employee elects to participate in the DROP Program he/she shall receive, as part of their payoff, a prorated amount of longevity compensation as described in Section C3, above. Payment for the balance of the DROP years’ longevity payment and subsequent longevity payments shall be made in December of each year as described in Section F6, above. For DROP participants, the amount of longevity compensation paid in subsequent years shall be determined by the step level achieved by the employee at the time they elected to DROP. (Step levels are described in Section B.42.d, above).

Appears in 1 contract

Samples: Agreement

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