Payment in Lieu Of Sample Clauses

Payment in Lieu Of. The Board shall pay in lieu of a vacation with pay to all eleven month and ten month employees entitled to vacation a percentage of their bi-weekly gross wages on each earnings statement in accordance with Article 10.01.
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Payment in Lieu Of. 23.13 In case of death, wages associated with an unused portion of a regular employee’s scheduled vacation shall be paid to the employee’s beneficiary or to the employee’s estate.
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Payment in Lieu Of. A regular part-time employee working less than fifty percent (50%) of a full-time position per week will be paid five percent (5%) gross pay in lieu of being provided benefits.
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Payment in Lieu Of. Each year the Board will, during the month of July, compute each employee’s gross wages for the period between July 1st and June 30th past. In the event the gross wages for that period are greater than the regular wages (straight time) for that period, the Board shall remit to each employee affected, a cheque based on the formula which follows: (Gross Wages – Regular Wages) x Applicable Rate The applicable rates are: For the employee mentioned in 10.01 (A) 4% For the employee mentioned in 10.01 (B) 4% For the employee mentioned in 10.01 (C) 6% For the employee mentioned in 10.01 (D) 8% For the employee mentioned in 10.01 (E) 10% For the employee mentioned in 10.01 (F) 12%
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Payment in Lieu Of. Each Confidential/Classified Management employee who is separated from employment after completing six (6) months of continuous service shall be entitled to payment in lieu of all unused vacation leave which he/she may have accumulated as of his/her last day of work. In the event of a deceased employee, payment shall be made to his/her estate or as otherwise provided by probate law or court order. References: Education Code 45197 Approved as to form: 4000 PERSONNEL 4500 CONFIDENTIAL/CLASSIFIED MANAGEMENT 4540 LEAVES OF ABSENCE 4541 VACATION
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Payment in Lieu Of. A regular part-time employee working less than seventeen and one-half (17.5) hours per week will be paid three percent (3%) gross pay in lieu of being provided benefits.
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Related to Payment in Lieu Of

  • Payment in Lieu If an employer makes payment in lieu for all or any of the period of notice prescribed, the period for which such payment is made must be treated as service with the employer for the purposes of computing any service related entitlement of the employee.

  • Payment in lieu of notice (a) The Company shall be entitled, at its sole discretion, to terminate the Employment immediately at any time by giving the Executive notice in writing. In these circumstances, subject to the terms of Clause 3.3(b), the Company will subsequently make a payment to the Executive in lieu of notice, calculated in accordance with the provisions of Clause 3.3(c) (the payment being referred to as a “PXXXX”).

  • Payment in Lieu of Benefits a) All employees not transferred to the Trust who received pay in lieu of benefits under a collective agreement in effect as of August 31, 2014, shall continue to receive the same benefit.

  • Retirement in Lieu of Layoff 9.9.1 Any member in the bargaining unit may elect to accept a service retirement in lieu of layoff, voluntary demotion, or reduction in assigned time. Such bargaining unit member shall, within ten (10) workdays prior to the effective date of the proposed layoff, complete, and submit a form provided by the District for this purpose.

  • Percentage in Lieu The eight and one-half percent (8.5%) premium is given in lieu of benefits under Articles 12 except 12.04, 14, and 17. APPENDIX “B”

  • Payment in Cash An employee or the employee's estate (as the case may be) shall be entitled to payment in cash for gratuity days accumulated in the event of normal retirement at minimum to maximum age, death in the service, permanent disability or leaving the service after completion of three (3) years' continuous service.

  • Time in Lieu (a) An Employee may, with the consent of the Employer, elect to take time off in lieu of payment for overtime worked (including where recalled to duty) for a period equivalent to the overtime worked, plus a period equivalent to the overtime penalty incurred or a combination of time off and payment to the same value.

  • Payment of the Purchase Price The Purchase Price shall be paid as follows:

  • Cash Payments in Lieu of Fractional Shares No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon conversion of Notes. If more than one Note shall be surrendered for conversion at one time by the same holder, the number of full shares that shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Note or Notes, the Company shall make an adjustment and payment therefor in cash at the current market price thereof to the holder of Notes. The current market price of a share of Common Stock shall be the Closing Price on the last Business Day immediately preceding the day on which the Notes (or specified portions thereof) are deemed to have been converted.

  • Cash in Lieu of Fractional Shares If Physical Settlement or Combination Settlement applies to the conversion of any Note and the number of shares of Common Stock deliverable pursuant to Section 5.03(B)(i) upon such conversion is not a whole number, then such number will be rounded down to the nearest whole number and the Company will deliver, in addition to the other consideration due upon such conversion, cash in lieu of the related fractional share in an amount equal to the product of (1) such fraction and (2) (x) the Daily VWAP on the Conversion Date for such conversion (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day), in the case of Physical Settlement; or (y) the Daily VWAP on the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement.

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