OPTION THREE use this option if there is an outstanding loan secured on the Home and one of you is to transfer all his / ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
OPTION THREE. Combination of option 1 and 2. Where an employee is undertaking study which includes contact time, both within and outside of the normal working spread of hours per day, an employee may negotiate a combination of Options 1 and 2.
OPTION THREE. For the term of this contract, an employee fifty-seven (57) years or older who has ten
OPTION THREE. An employee fifty-seven (57) years or older who has ten (10) or more consecutive years of regular employment, see section 20.1.2, with the District who meets all the requirements of 20.1.2 except for being eligible for the regular PERS retirement benefit, and who retires on or before June 30, 2023, may choose to have the District monthly insurance contribution of three hundred and seventy-five ($375.00) plus the twenty five dollars ($25.00) from the reserves paid in any consecutive monthly period from retirement to the earlier of age sixty-five (65) or June 30, 2026 in an amount not to exceed the monthly district contribution for that year or prorated in a lesser monthly amount not to exceed the total benefit which is equal to the district monthly contribution for the year of retirement times thirty six. The District and the classified insurance reserve fund will not make any contributions under the terms of this paragraph after June 30, 2026. Article 20.1.2.2 expires at midnight on June 30, 2026.
OPTION THREE. An employee fifty-seven (57) years or older who has ten (10) or more consecutive years of regular employment, see section 20.1.2, with the District who meets all the requirements of 20.1.2 except for being eligible for the regular PERS retirement benefit, and who retires on or before June 30, 2023, may choose to have the District monthly insurance contribution of three hundred and seventy-five ($375.00) plus twenty five ($25.00) from the reserves paid in any consecutive monthly period from retirement to the earlier of age sixty-five (65) or June 30, 2026 in an amount not to exceed the monthly district contribution for that year or prorated in a lesser monthly amount not to exceed the total benefit which is equal to the district monthly contribution for the year of retirement times thirty six. The District and the classified insurance reserve fund will not make any contributions under the terms of this paragraph after June 30, 2026. Article 20.1.2.2 expires at midnight on June 30, 2026. As a result of the sunsetting of the above-referenced section, Article 20.1.6 (Medicare Carve Out) and Article 20.2.2 (benefits for estate of deceased retiree electing Option 2) will expire on June 30, 2026; at that time, the obligation of the District and the classified insurance reserve fund to make contributions as provided in this paragraph will cease, and no other contributions under the terms of Article 20.1.6 will be made.
OPTION THREE. (a) An Eligible Employee who is not eligible for a benefit payment pursuant to Options One or Two may, upon submission of formal resignation from the Company’s service, claim a severance payment of $65,000 plus annual CPI adjustment effective August 1, 1996 and August 1, 1997.
OPTION THREE. Combination of option 1 and 2. Where an employee is undertaking study which includes contact time, both within and outside of the normal working spread of hours per day, an employee may negotiate a combination of Options 1 and 2. City of Xxxxxxx Payneham & St Xxxxxx Municipal Officers Enterprise Agreement No. 5, (2010)
OPTION THREE. (i) An employee who is not eligible for a benefit payment pursuant to Options One or Two (A) or (B) may, upon submission of formal resignation from the Company's service, claim a severance payment of $65,000.
OPTION THREE. An employee fifty-seven (57) years or older who has ten (10) or more consecutive years of regular employment, see section 20.1.2.1, with the District who meets all the requirements of
OPTION THREE. Upon Seller’s receipt of the Second Option Purchase Price on or before the Second Option Date and terminating on March 15, 2016 (the “Third Option Date”), XXXX shall have a third Option (the “Third Option”) to purchase an additional 5% of the Stock, for the purchase price of $500,000.00 (the “Third Option Purchase Price”), which shall be paid on or before the Third Option Date. In the event that XXXX exercises the Third Option, upon the exercise of the Third Option and subject to the terms and conditions set forth herein, the Seller agrees to sell, convey, transfer, assign and deliver to XXXX, and XXXX agrees to purchase from the Seller an additional 5% of the Stock, including all rights with respect to the Stock, subject to any restrictions as set forth in the Organizational Documents; provided, that, if XXXX fails to pay the Second Option Purchase Price on or before the Second Option Date, the Third Option and the Fourth Option shall both be immediately and automatically terminated without notice. Notwithstanding the foregoing, XXXX shall be granted a 5 day grace period with respect to the Third Option Date for the Third Option Purchase Price upon providing written notice to Seller requesting the same. Time is of the essence.
