Vacation Entitlement for Employees Retiring Sample Clauses

Vacation Entitlement for Employees Retiring. Employees actively at work who retire will receive vacation entitlement on the basis of not less than the entitlement they would have received in the calendar year had they reached their anniversary date before retirement.
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Vacation Entitlement for Employees Retiring. Employees actively at work who retire will receive vacation entitlement on the basis of not less than the entitlement they would have received in the calendar year had they reached their anniversary date before retirement. 1601.9 After twenty-five (25) years of continuous service, upon attainment of the following ages, receive the following paid additional vacation in the calendar year in which they reach: Supplementary Vacation 60 years of age - 1 additional week 61 years of age - 2 additional weeks 62 years of age - 3 additional weeks 63 years of age - 4 additional weeks 64 years of age - 5 additional weeks 1602 CONDITIONS OF PAYMENT Vacation with pay will be based on two point four percent (2.4%) of the previous year's gross earnings for each week of vacation, or forty-eight (48) hours at their regular rate, whichever is the greater. Vacation with pay will not be paid for absence periods due to discipline. In the event of illness or non-compensable accident, employees must have worked a minimum of seven hundred and fifty (750) hours in that year in order to qualify for vacation benefits. All hours paid for vacation, paid holidays and floating holidays, shall be counted when computing the seven hundred and fifty (750) hours to determine vacation eligibility. In such cases, vacation pay will be based on two point four percent (2.4%) of total earnings for each week of vacation entitlement, even though the two point four percent (2.4%) is less than the equivalent forty-eight (48) hours pay at straight time rate. Employees with less than seven hundred and fifty (750) hours may be given the option of taking their regular vacation entitlement with the reduced vacation pay or they may lump their vacation pay and take a reduced number of weeks. In all instances, employees must take off a minimum of two (2) weeks. Employees should indicate the number of weeks they intend to take off at the time this option is presented. NOTE: Option to Elect Vacation Pay-out: Refer to Letter of Understanding dated July 11, 2012.
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Related to Vacation Entitlement for Employees Retiring

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Continuing Employment Continuing employment means full-time or part-time employment which has no fixed end date or contingency upon which the employment contract will come to an end. All employment, other than fixed term employment and casual employment, is continuing employment.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Termination of Employees Agent may in its discretion stop using any Retained Employee at any time during the Sale, subject to the conditions provided for herein. In the event that Agent desires to cease using any Retained Employee, Agent shall notify Merchant at least seven (7) days prior thereto, so that Merchant may coordinate the termination of such employee; provided, however, that, in the event that Agent determines to cease using an employee “for cause” (which shall consist of dishonesty, fraud or breach of employee duties), the seven (7) day notice period shall not apply, provided further, however, that Agent shall immediately notify Merchant of the basis for such “cause” so that Merchant can arrange for termination of such employee. From and after the date of this Agreement and until the Sale Termination Date, Merchant shall not transfer or dismiss Retained Employees except “for cause” without Agent’s prior consent. Notwithstanding the foregoing, Agent shall not have the right to terminate the actual employment of any Retained Employee, but rather may only cease using such employee in the Sale and paying any Expenses with respect to such employee.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Application for Employment Employee understands and agrees that, as a condition of this Agreement, Employee shall not be entitled to any employment with the Company, and Employee hereby waives any right, or alleged right, of employment or re-employment with the Company. Employee further agrees not to apply for employment with the Company and not otherwise pursue an independent contractor or vendor relationship with the Company.

  • Leave When Employment Terminates 31.7.1 Except as provided in sub-clause 31.7.3, when the employment of an employee is terminated for any reason, the employee or his estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his employment.

  • Compensation of Executive (a) The Corporation shall pay the Executive as compensation for his services hereunder, in equal semi-monthly or bi-weekly installments during the Term, the sum of $350,000 per annum (as in effect from time to time, the “Base Salary”), less such deductions as shall be required to be withheld by applicable law and regulations. The Corporation shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right to decrease the Base Salary.

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