Lump Sum Payment Upon Termination. An employee who terminates his/her employment with the State, for reason not reflecting discredit on himself/herself, shall be entitled, upon the date of such termination, to cash compensation for unused vacation leave, assuming that the employee has worked the qualifying period. If an employee transfers between agencies, there shall be no cash compensation paid for unused vacation leave. In such a transfer, the receiving agency assumes the liability for the accrued vacation credits transferred with the employee.
Lump Sum Payment Upon Termination. Eligible employees are entitled by law to receive a lump sum payment upon termination equal to one- quarter the pay attributed to the unused sick leave accrued after July 1, 1971. The computation of the value of the unused sick leave is based on the employee's salary rate at the time of termination of employment. Employees cannot get a lump sum payment upon termination if they go to work for another state agency at any time before their accumulated vacation credits plus the statutory five days break in service time has elapsed. Employees shall not be credited with sick leave for which they have previously been compensated. When an employee transfers or is transferred between state agencies, s/he shall not be entitled to lump sum payment for accrued sick leave credits. In such a transfer, the receiving agency shall assume the liability for the accrued sick leave credits earned after July 1, 1971 and transferred with the employee.
Lump Sum Payment Upon Termination. An employee who terminates his/her employment with the District is entitled to a lump sum payment equal to one- fourth of the pay attributed to his/her accumulated sick leave. This pay shall be computed on the basis of the employee’s salary or hourly wage at the time of termination.
Lump Sum Payment Upon Termination. Following a Change in Control 1 (iii) Cash-Out of Options and Contingently 1 Credited Shares (iv) Payment of Value of Excess Benefit 2 and Supplemental Retirement Plan Payments (v) Participation in Benefit Plans 2 (b) Definition of Termination 3 (c) Definition of Cause 3 (d) Definition of Change in Control 4 2 Termination During Month 4 3 Post-termination Obligations 4 of Executive; Default by Company (a) Assistance in Litigation 4 (b) Detrimental Conduct 5 (c) Discoveries and Inventions 5 (d) Reimbursement of Expenses 5 (e) Competition 5 (f) Failure to Comply 5 (g) Post-termination Default in 6 Payments or Benefits 4 Determination of Benefits 6 5 (a) Time of Payment 6 (b) Withholding of Taxes 7 6 Decisions by Company 7 7 Prior Agreements 7 8 Consolidation or Merger 7 9 (a) Non-assignability 7 (b) No Attachment 7 (c) Binding Agreement 8 (d) Unfunded Obligations; Trust 8 Agreement 10 (a) Amendment of Agreement 9 (b) No Waiver 9 11 Severability 9 12 Headings 9 13 Governing Law 9 14 Parachute Tax 10 15 Notices 10 16 Arbitration 10 EXHIBITS -------- Page Exhibit Reference ------- --------- A Certain benefits to be provided after a 1 termination following a change in control B Payments and benefits subject to 6 acceleration in event of default in payments or benefits by Company after cessation of employment C Form of Trust Agreement 8 D Amounts to be deposited in trust upon a 8 potential change in control
Lump Sum Payment Upon Termination. As provided in 2-18-617(2), MCA, “An employee who terminates his/her employment for reason not reflecting discredit on himself/herself shall be entitled upon the date of such termination to cash compensation for unused vacation leave, assuming that the employee has worked the qualifying periods set forth in 2-18-611, MCA.” An employee retiring or terminating who is in qualified status and who has accumulated vacation leave shall receive current gross hourly salary for each hour of accumulated vacation leave. The value of unused vacation leave is computed based upon the employee’s salary rate (hourly wage) at the time of termination. The Employer shall not pay accumulated leaves to employees who have not worked the qualifying period.
Lump Sum Payment Upon Termination. 1. Provided the employee has worked the qualifying period, when an employee terminates employment with the District, the employee is entitled to cash compensation for unused sick leave credits equal to the following:
Lump Sum Payment Upon Termination. An employee who is separated from the service of the City for reason(s) not reflecting discredit on himself/herself shall be entitled, upon the date of termination, to cash compensation for unused vacation leave. Compensation will be based on the employee's salary at the time of termination, assuming that the employee has worked the qualifying period of six (6) months. Employees will be required to be paid out for any balance of vacation leave at the time of retirement or resignation.
Lump Sum Payment Upon Termination. Sections 4(b), 4(e)(ii)(A), 4(e)(ii)(D), and 4(g)(i) of the Employment Agreement are each amended to provide that the amount shall be paid in a lump sum cash payment instead of equal installments no later than 60 days after the Executive’s termination date (“Lump Sum Payment”); provided, that if Executive is designated as a “specified employee” within the meaning of Section 409A, to the extent the Lump Sum Payment is not exempt under Section 409A, the Lump Sum Payment shall be paid, without interest, during the seventh month after Executive’s termination.
Lump Sum Payment Upon Termination. 1. An employee who terminates his/her employment with the District for a reason not reflecting discredit on him/herself, shall be entitled upon the date of such termination to cash compensation for unused vacation leave, assuming that the employee has worked the qualifying period set forth in Section 2-18-611 XXX, 0000.
Lump Sum Payment Upon Termination. When an employee terminates employment, the employee is entitled to cash compensation for unused sick leave credits equal to one- fourth (1/4) of the compensation the employee would have received if the employee had used the credit, provided the employee has worked the qualifying period. The value of unused sick leave is computed based on the employee's salary at the time of termination. According to Section 2-28-618(5), MCA, "accrual of sick leave credits for calculating the lump-sum payment begins July 2, 1971." Employees terminated for reason of abuse of sick leave forfeit the right to lump sum payment for any sick leave balance. Employees will be paid appropriately for any unused balances of sick leave at the time of resignation or retirement.
