Unused leave payments Sample Clauses

Unused leave payments. Payment for unused accrued bona fide sick, vacation, or other leave, but only if the Employee would have been able to use the leave if employment had continued.
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Unused leave payments. A separating employee shall receive full payment for all earned but unused vacation leave. In addition, employees separating from the Town service in good standing shall be entitled to a payment for unused sick leave (up to a maximum of 200 days) per the below schedule: For separation after 20 years of service – 60% of time accrued For separation after 10 years of service – 40% of time accrued For separation after 5 years of service – 20% of time accrued Additionally, with regard to the above schedule, those employees who may have already exceeded the maximum accumulation as referred to in Section 5 above, shall be entitled to a payment for unused sick leave greater than the maximum 200 days in accordance with the above schedule. These allowances do not extend the separation date. Employees hired after July 1, 2014 shall not be eligible for the benefit outlined in Section 6 above.

Related to Unused leave payments

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Protective Payments If Borrower fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve the Collateral, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default.

  • Total Compensation Contractor shall include Total Compensation in XXX for each of its five most highly compensated Executives for the preceding fiscal year if:

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