Common use of Terminal Leave Payment Clause in Contracts

Terminal Leave Payment. Terminal leave pay shall be paid to employees who qualify and retire or terminate under the provision of the Michigan Public School Employees Retirement Act, or to his estate upon death, at the following rates: 10 through 14 years - 1/2 of 60 days pay 15 through 19 years - 1/2 of 80 days pay 20 years or more - 1/2 of 100 days pay Terminal leave payments will be based upon the drivers regular runs bid on at the annual bid meeting. Employees terminated for cause shall not be eligible for terminal leave pay.

Terminal Leave Payment. Terminal leave pay shall be paid to employees who qualify and retire or terminate under the provision of the Michigan Public School Employees Retirement Act, or to his estate upon death, at the following rates: 10 through 14 years - 1/2 of 60 days pay 15 through 19 years - 1/2 of 80 days pay 20 years or more - 1/2 of 100 days pay Terminal leave payments will be based upon the drivers regular runs bid on at the annual bid meeting. Employees terminated for cause shall not be eligible for terminal leave pay.