Separation Payment. An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one
Separation Payment. Except with respect to the Accrued Benefits as defined in the Employment Agreement, if you sign this Agreement, agreeing to be bound by the General Release in Paragraph 3 below and the other terms and conditions of this Agreement described below, and comply with the requirements of this Paragraph 2 (other than the Accrued Benefits), you will receive the compensation and benefits as contemplated by the Employment Agreement. You will not be eligible for the payment and benefits described in Paragraph 2 unless: (i) You sign this Agreement no later than forty five (45) days after you receive it, promptly return the Agreement to the Company after you sign it, and do not timely revoke it in accordance with paragraph 20 below; (ii) you have returned all Company property and documents in accordance with Paragraph 7 below.
Separation Payment. (a) In order to encourage term officers to remain until the end of their term, and in recognition that they may forgo other employment opportunities in doing so, such officers will be entitled to the following: On separation from CSIRO following completion of a period of fixed term employment, term officers who are not offered further employment, will receive a payment for completed months of service equivalent to one week’s salary for each six months of service. Service will include contiguous periods of fixed term employment preceding the concluding term. An officer shall not have an entitlement to the separation payment if they decline an offer by CSIRO of further employment: • in the same city; • at the same or higher classification and salary level; and • the period of employment offered is of at least six months duration and the offer is made at least one month prior to the term end. For the purposes of this paragraph: • service shall date from 17 June 1998; • the minimum specified term period for payment is one calendar month (e.g. from 9 April to 8 May); • payment is calculated at the termination salary and includes the following allowances;
Separation Payment. Each employee who is separated from the County service shall be entitled to payment in lieu of all unused vacation leave which the employee may have accumulated as of the employee’s last day of work and shall be computed on the basis of such employee’s base hourly rate at the time of termination.
Separation Payment. In consideration of the covenants and agreements by Employee as described in this Agreement, including, without limitation, the covenants set forth in Paragraphs 4, 5, 6, and 7 and the releases as set forth in Paragraph 3, the Company agrees to make payment to the Employee as provided in the Employment Agreement. Employee acknowledges and agrees that Employee would not receive all such payment except for Employee’s execution of this Agreement and the fulfillment of the promises contained herein. Employee further acknowledges and agrees that, except for payments conditioned on his execution of this Agreement, Employee has received payment in full for all of the compensation, wages, benefits and/or payments of any kind otherwise due and payable from the Company as of the Effective Date, including, but not limited to compensation, bonuses, commissions, lost wages, expense reimbursements, payments to benefit plans, unused, accrued vacation, leave, and personal time, severance, sick pay or any other payment or benefit under a Company plan, program, policy, practice or promise. The payments described in this Paragraph are expressly contingent upon the Employee’s full compliance with the terms of this Agreement and the Employment Agreement. Should Employee fail to fully comply with the terms of this Agreement or the Employment Agreement, Employee shall forfeit rights to any of the payments described in this Paragraph, and Employee shall immediately return to the Company any payments already made pursuant to this Paragraph.
Separation Payment. The Company shall continue to pay you your base salary in effect at the time of termination of your employment with the Company for the Severance Period. Such Separation Payments will be subject to applicable state and federal tax withholdings and paid in accordance with the Company’s normal payroll practices; and
Separation Payment. In exchange for (i) the Executive's execution of the General Release and Waiver provided in Exhibit A to this Agreement ("Release"), which Executive can execute no earlier than the Separation Date, and delivery of same during the 21-day period following the Separation Date with such delivery pursuant to Section 14(d) below, (ii) non-revocation of the Release, and (iii) continued compliance with all of the terms and conditions of this Agreement, the Executive shall receive a separation payment (the "Separation Payment") of (i) 18 months of Base Salary equal to $562,500.00, and (ii) 18 months of Target Bonus equal to $562,500.00, for a total Separation Payment of $1,125,000.00. These payments will be made in equal installments over the eighteen months following the end of the revocation period set forth in Paragraph 4 of Exhibit A hereto in accordance with payroll procedures applicable to similarly situated employees of the Company ("Severance Period").
Separation Payment i) For purposes of this Agreement, "Separation Payment" means a payment equal to 2.99 times the Employee's annual base salary at the time of termination, subject to the limitations in (6)(g)(ii), below.
Separation Payment. If the Company or its Affiliate terminates Employee’s employment other than for Cause, then the Company shall pay to Employee the Separation Payment pursuant to and in accordance with subsection 1.B. If Employee resigns from employment (subject to the notice and cure provisions set forth below) with the Company and its Affiliates within 24 months after a Change in Control and the resignation was for a Change In Control Good Reason, then the resignation will be deemed to be a termination of Employee’s employment other than for Cause and the Company shall pay to Employee the Separation Payment pursuant to and in accordance with subsection 1.B. Neither Employee’s death nor Employee’s resignation (other than for a Change in Control Good Reason) or termination for Cause or on account of disability will give rise to any Separation Payment. The Company’s obligation to make the Separation Payment will not be mitigated or offset by virtue of Employee obtaining new employment or failing to seek new employment. The Separation Payment encompasses and includes any applicable employment standards entitlements and payment in full for any unused, accrued vacation time.
Separation Payment. In accordance with the Company's standard payroll practices, a lump sum payment in the amount set forth below opposite the year in which the Date of Separation from Service occurs (the “Separation Payment” and together with the Salary Continuation Payments, the “Severance Benefits”), provided that the Separation Payment shall be made on the first payroll date following the expiration of the Release Period (as defined below): Year Separation Payment 2016 $ 1,345,832 2017 $ 1,337,499 2018 $ 1,091,666 2019 and beyond $ 950,000