Common use of Gratuity Payout Clause in Contracts

Gratuity Payout. Any Nurse leaving the service of the Employer after December 31, 1996 will receive fifty (50) per cent of the value of the balance of frozen sick leave credits remaining at the time of termination to a maximum payment of six (6) months' salary, payable at the Nurse's regular base rate on December 31, 1996, provided such Nurse has more than five (5) years of service with the Employer as of December 31, 1996.

Appears in 7 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

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