Payout. a. The Board will pay out the incentive bonus either in the year the employee retires or during the year following retirement and shall be calculated as a percentage of the employee’s salary scale in the following amounts: Age in Month of Retirement Percentage of Annual Salary 55-59 years of age 35% 60-64 years of age 25%
Appears in 7 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Payout. a. The Board will pay out the incentive bonus either in the year the employee retires or during the year following retirement and shall be calculated as a percentage of the employee’s employee‘s salary scale in the following amounts: Age in Month of Retirement Percentage of Annual Salary 55-59 years of age 35% 60-64 years of age 25%
Appears in 1 contract
Samples: Collective Agreement
Payout. a. 13.2.1 The Board will pay out the incentive bonus either in the year the employee retires or during the year following retirement and shall be calculated as a percentage of the employee’s salary scale in the following amounts: Age in Month of Retirement Percentage of Annual Salary 55-59 years of age 35% 60-64 years of age 25%
Appears in 1 contract
Samples: Collective Agreement
