Severance Payment Schedule definition

Severance Payment Schedule. All retiring administrators, who are eligible for severance pay under this Article, shall have all such funds deposited in their health care savings plan accounts in accordance with plan documents as adopted by the School District. Payment of claims for health care expenses shall be subject to federal and state law and the plan documents as provided in the Trust Agreement and Health Care Savings Plan documents. Severance payments provided above shall not be made directly to any employee but rather shall be deposited by the School District into the employee’s health care savings account. The Administrator may choose to select either single or family coverage.
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Examples of Severance Payment Schedule in a sentence

  • PARENT will provide to TARGET not less than ten (10) business days prior to the Closing with a Severance Payment Schedule setting forth the severance payment amounts and schedule for payment thereof to the GBI employees so entitled and consistent with the provisions of this Section 7.7(c).

  • In the event that a Change of Control occurs prior to the payment of the last installment of the Base Salary Severance under the Severance Payment Schedule, your right to receive any remaining Base Salary Severance payments that do not constitute “deferred compensation” within the meaning of Section 409A (as defined below) shall accelerate and such remaining Base Salary Severance shall be paid to you in a lump sum within ten (10) days following the Change of Control.