Payment Upon Separation definition

Payment Upon Separation. SUPERIOR OFFICER who voluntarily leaves TOWN employ shall receive sick leave accruals at his then current hourly rate of pay based on the following scale: Up to 4 years of completed service: None 5 – 9 years of completed service: 50% 10 – 16 years of completed service: 100% 17 years or more of completed service: 50% of accumulated sick leave not to exceed a maximum of 300 days. [For example a SUPERIOR OFFICER with 80 days of sick leave would be paid for 40 days; a SUPERIOR OFFICER with the maximum of 300 days allowed in accordance with this section would be paid for the maximum of 150 days.]
Sample 1

Examples of Payment Upon Separation in a sentence

  • The chancellor and presidents may determine periods of annual leave for themselves at times best suited to their workload.(d) Payment Upon Separation.

  • Mr. Pickel made a motion to close the hearing, seconded by Mr. Weer and approved by a vote of 5-0.

  • These impacts can be avoided with DHT technology preserving the benefits of GT crops by preventing reversion to more intensive tillage methods.

  • Sick leave will pay out only in the case of retirement in accordance with the Payment Upon Separation provision of the “Sick Leave” article of the in-force collective bargaining agreement.

  • Payment Upon Separation Accrued but unused vacation time off benefits up to the maximum accrual of 62.50 days or 500 hours are payable upon employment separation at the hourly rate earned by the employee at the time of employment separation.

  • Payment Upon Separation from Employment Upon separation from State employment, a lump sum payment will be made for unused annual leave, not to exceed 45 days (without deducting any earned leave taken during the calendar year in which the employee separates).

  • Payment Upon Separation Accrued but unused sick time off benefits up to a maximum of 30 days or 240 hours are payable upon employment separation at the hourly rate paid the employee at the time of employment separation.

  • FINANCIAL INSTRUMENTS AND FINANCIAL RISK POLICIESThe fair values of financial instruments other than investments, which include cash, accounts receivable, accounts payable, and promissory notes payable approximate their carrying values due to their short-term4.

  • For a PERI Participant who begins receiving payment under the PERI Plan before attaining age 65, the PERI Benefit payable under the PERI Plan will be reduced by the early payment actuarial discount established under the ERP for the commencement of benefits before age 65.Section 3.3. Payment Upon Separation from Service.

  • Annual Leave - Payment Upon Separation An employee will normally be paid for annual leave accumulated to the date of separation, not to exceed a maximum of 240 hours, provided notice is given to the supervisor at least two weeks in advance of the effective date of resignation and the employee resigns in good standing.

Related to Payment Upon Separation

  • Share Termination Settled” in relation to the Transaction means that Share Termination Alternative is applicable to the Transaction.

  • Change of Control Termination means (i) a Termination Without Cause of the Employee’s employment by the Employer (other than for death or disability) within twelve (12) months after a Change of Control or (ii) the Employee’s resignation for Good Reason within twelve (12) months after a Change of Control.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Reverse Termination Fee has the meaning set forth in Section 7.02(b).

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Termination, Moving You may cancel your acceptance of the Agreement with XOOM at any time prior to midnight of the thirtieth (30th) calendar day after the date of the first bill from your utility that includes XOOM charges for gas supply service without penalty or cancellation fee by calling XOOM at 0-000-000-0000 or by sending an email to xxxxxxxxxxxx@xxxxxxxxxx.xxx. When moving to an address within your local utility’s service territory, XOOM will make every effort to transfer your service to your new service address, provided that you notify XOOM within fifteen (15) days of your move. If a transfer of service is not successful or you move to a location outside your local utility’s service territory, you may cancel this Agreement at no cost to you. Failure to notify XOOM of your move will be considered a cancellation of this Agreement in accordance with its terms.

  • Change of Control Purchase Price shall have the meaning specified in Section 10.1.

  • Termination Upon Change of Control shall not include any termination of the employment of the Executive (a) by the Company for Cause; (b) as a result of the Permanent Disability of the Executive; (c) as a result of the death of the Executive; or (d) as a result of the voluntary termination of employment by the Executive for reasons other than Good Reason.

  • Share Termination Settled in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

  • Company Termination Fee has the meaning set forth in Section 7.3(a).

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • Book-Entry Termination The occurrence of any of the following events: (i) the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Book Entry Certificates, and the Depositor is unable to locate a qualified successor; or (ii) the Depositor at its option advises the Trustee and the Certificate Registrar in writing that it elects to terminate the book-entry system through the Clearing Agency.

  • Air gap separation means the unobstructed vertical distance through the free atmosphere between the lowest opening from any pipe or faucet supplying water to a tank, plumbing fixture, or other device and the flood level rim of the receptacle.

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Delta Payment means as it is described in this Agreement.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • CIC means the Construction Industry Council.

  • Stock Purchase Price has the meaning set forth in Section 2 of the Subscription Agreement.

  • Share Termination Alternative If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment. Share Termination Delivery Property: A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Premium payment plan means a benefit plan whereby state and

  • Separation means a “separation from service,” as defined in the regulations under Section 409A of the Code.