Common use of Retirement Allowance Clause in Contracts

Retirement Allowance. When an employee having continuous service of five (5) years or more retires due to disability, death or age, the Employer shall pay such employee or beneficiary a retirement allowance equal to five (5) days' pay for each full year of service but not exceeding one hundred and twenty-five (125) days' pay, which when granted will be paid in a lump sum upon retirement at the employee's regular rate of pay. When an employee is laid off, the retirement allowance shall be paid in a lump sum twelve (12) months after the date he was laid off. At the request of the employee payment of this allowance shall be:

Retirement Allowance. (a) When an employee having continuous service of five (5) years or more more, retires due to disability, death or age, the Employer shall pay such an employee or beneficiary a retirement allowance equal to five (5) days' pay for each full year of service but not exceeding one hundred and twenty-five (125) days' pay, which when granted will shall be paid in a lump sum upon retirement at the employee's regular rate of pay. When an employee is laid off, the retirement allowance shall be paid in a lump sum twelve (12) months after the date he was laid off. At the request of the employee payment of this allowance shall be:.

Retirement Allowance. When an employee having continuous service of five (5) years or more more, retires due to disability, death or age, the Employer shall pay such an employee or beneficiary a retirement allowance equal to five (5) days37½ hours' pay for each full year of service but not exceeding one hundred and twenty-five (125) days937.5 hours' pay, which when granted will shall be paid in a lump sum upon retirement at the employee's regular rate of pay. When an employee is laid off, the retirement allowance shall be paid in a lump sum twelve (12) months after the date he was laid off. At the request of the employee payment of this allowance shall be:.

Retirement Allowance. (a) When an employee having continuous service of five (5) years or more retires due to disability, death or age, or is laid off, the Employer shall pay such employee or beneficiary a retirement allowance equal to five (5) days' pay for each full year of service but not exceeding one hundred and twenty-five (125) days' ’ pay, which when granted will be paid in a lump sum upon retirement at the employee's regular rate of pay. When an employee is laid off, the retirement allowance shall be paid in a lump sum twelve (12) months after the date he he/she was laid off. At the request of the employee payment of this allowance shall be: