Common use of Payment on Separation Clause in Contracts

Payment on Separation. Employees with one (1) or more years of service will be entitled to all vacation time accumulated to the date of their separation from employment in that vacation year when they leave employment, upon retirement or resignation, provided they provide two (2) or more weeks prior written notification of their retirement or resignation to the Employer, or in case of an involuntary termination. Upon the death of an employee with one (1) or more years of service, all unused vacation time accumulated shall be paid to the employee's beneficiaries. Upon an employee's resignation or after retirement with less than two (2) weeks notice, all vacation credits shall be canceled and shall not be reinstated or paid for.

Appears in 12 contracts

Samples: Agreement, Agreement, Agreement

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