Termination/Severance Pay. A. To be eligible for benefits under this program, a teacher shall be employed for at least ten (10) consecutive years of service by the Xxxxx Township School Board of Education.
Termination/Severance Pay a. Provided the bargaining unit member gives notice of resignation by March 1 effective at the end of the school year, upon leaving the Bexley School system after ten (10) years of service in the Bexley School system, bargaining unit members shall be paid remuneration for their unused sick leave according to the following provisions:
Termination/Severance Pay. The Employment Period will terminate upon the first to occur of the following events:
Termination/Severance Pay. The amount of notice of termination or pay in lieu of notice of termination will be determined by this Agreement or the Employment Standards Act, whichever is greater. Employees terminated as a result of culpable conduct shall not be entitled to severance pay except where it is mutually agreed upon between the parties or part of an arbitration award.
Termination/Severance Pay. The term of this Agreement will terminate upon the first to occur of (i) January 31, 2006, (ii) Executive's death or permanent disability (as determined by the Board of Directors in its good faith judgment) or (iii) the date on which the Company's Board of Directors terminates Executive's employment for "Cause." In the event that the Company shall terminate Executive's employment prior to January 31, 2006 otherwise than pursuant to clause (ii) or (iii) above, the Company shall pay severance pay to Executive by continuing the Base Salary, as well as all additional benefits described in Paragraph 1(a) and in effect at the time of such termination, until January 31, 2006. Such payments shall be made in bi-weekly installments. For purposes of this Agreement, "Cause" shall mean by determination of the Company's Board of Directors in its good faith judgment that Executive has: (1) knowingly committed gross misconduct in the performance of his duties, (2) knowingly committed gross negligence or gross nonfeasance in the performance of his duties, (3) committed an act of financial dishonesty against the Company or any of its subsidiaries, or (4) committed any felony involving moral turpitude. In the event of the termination of Executive's employment by the Company for any reason other than Cause, the Company will allow Executive's spouse to continue to participate in the Company's medical plan on the same basis as such continued participation is provided to spouses of other executive employees until her 65th birthday. If such continued participation is not possible for any reason, the Company will purchase health insurance coverage for Executive's spouse that provides, to the extent practicable, reasonably comparable benefits until her 65th birthday. In no event will the Company be obligated to provide any medical plan or other health insurance coverage if Executive's spouse becomes eligible for medical benefits offered by another employer. In addition, in the event this Agreement is terminated at any time and for any reason (i) any unvested portion of Executive's 401(k) savings plan interest will automatically accelerate and become immediately 100% vested on the date of such termination or, if such accelerated vesting is not permitted by any law, regulation or governmental ruling applicable to the 401(k) savings plan, the Company will pay to Executive the value of his unvested interest in the 401(k) savings plan; (ii) any and all unvested stock options to purchase...
Termination/Severance Pay. SECTION 1. Employees are entitled to compensation for accumulated but unused vacation leave only at the time of separation of service. Payment for accumulated but unused vacation leave and any earned compensatory time (pay) that is banked at separation is at the employee’s current rate of pay. Employees who leave employment prior to the completion of their first year are not entitled to receive compensation for accrued vacation hours.
Termination/Severance Pay. 12.1 The employment shall automatically terminate 31 December 2014 as set out in Clause 1.1.
Termination/Severance Pay. It is understood by and between the parties to this Agreement that EMPLOYEE, in providing City Manager's duties to the CITY, serves at the pleasure of the City Council. EMPLOYEE may be terminated only by an affirmative vote of a majority of the City Council, convened in a Regular or Special Council meeting. Except as is otherwise provided herein, the City Council shall furnish EMPLOYEE with a written notice stating the City Council’s intention to terminate his employment with the CITY at least 30 days before the effective date of his termination. Such vote shall not be taken within ninety (90) days after 1) any election to which a council member has been elected or, 2) a new council member has been appointed. Notwithstanding anything to the contrary stated in this Agreement, any severance paid to EMPLOYEE pursuant to this Agreement shall be the lesser of the amount calculated pursuant to Cal. Gov’t Code section 53260(a) or the amount calculated pursuant to this Agreement.
Termination/Severance Pay. (a) Notwithstanding any provision of this Agreement to the contrary, the employment of the Executive hereunder shall terminate on the first to occur of the following:
Termination/Severance Pay. 20.01 If one or more of the employees covered by this Agreement (each a "Terminated Employee") is or are permanently laid off or has or have his/her or their employment terminated due to a shortage of work or for any other reason, except just cause, retirement or resignation by the employee, the Company shall pay each Terminated Employee termination pay and severance pay determined as follows:
