Common use of Amount of Gratuity Clause in Contracts

Amount of Gratuity. a) The amount of gratuity paid to an eligible Member shall not exceed six (6) months’ salary computed on the basic salary (excluding any bonus, overtime payments, etc.) of the last full year for which the Member was employed by the Board provided such payout does not exceed the allowable maximum payout outlined in Clause 22.02 d). b) A Member, after ten (10) years of consecutive service with the Board, shall be entitled to a retirement gratuity computed in accordance with the formula set out in Clause 22.02 c) hereof, subject to 22.02 d), if the credit in the Member’s accumulated sick leave is sufficient, of 25% the last full year’s basic salary. This percentage shall increase each consecutive year thereafter by 5% until a maximum of 50% of the last full year’s basic salary is reached provided at no time such gratuity payout exceeds the allowable maximum outlined in Clause 22.02 d). c) The amount of the gratuity paid to an eligible Member shall be computed as follows subject to the allowable maximum outlined in Clause 22.02 d). d) The amount of gratuity paid to an eligible Member shall be either the calculation under 22.02 c) above or as noted below, whichever is the lesser: EMPLOYEE GROUP MAXIMUM PAYOUT P.S.S.P. Capped at $20,000.00 It is understood that the Twenty Thousand Dollars ($20,000.00) maximum payout cap under 22.02 d) of the Retirement Gratuity Plan will come into effect on the first day of January, 1986.

Amount of Gratuity. a) i. The amount of gratuity paid to an eligible Member employee shall not exceed six (6) months’ salary computed on the basic salary (excluding any bonus, overtime payments, etc.) of the last full year for which the Member employee was employed by the Board provided such payout does not exceed the allowable maximum payout outlined in Clause 22.02 d)23.02 iv.; b) A Memberii. An employee, after ten (10) years of consecutive service with meeting the Boardeligibility requirements under 23.01, shall be entitled to a retirement gratuity computed in accordance with the formula set out in Clause 22.02 c) 23.02 iii. hereof, subject to 22.02 d)23.02 iv., if the credit in the Memberemployee’s accumulated sick leave is sufficient, of twenty-five percent (25% %) of the last full year’s basic salary. This percentage shall increase each consecutive year thereafter by five percent (5% %) until a maximum of fifty percent (50% %) of the last full year’s basic salary is reached provided at no time such gratuity payout exceeds the allowable maximum outlined in Clause 22.02 d)23.02 iv.; c) iii. The amount of the gratuity paid to an eligible Member employee shall be computed as follows subject to the allowable maximum outlined in Clause 22.02 d)23.02 iv.: (25 to 50% as determined in 23.02 ii.) X (basic salary of last full year) X accumulated sick leave to 240 for 12 month employees, 240 for 12 month employees, 220 for 11 month employees, 200 for 10 month employees. d) iv. The amount of gratuity paid to an eligible Member employee shall be either the calculation under 22.02 c) 23.02 iii. above or as noted below, whichever is the lesser: EMPLOYEE GROUP MAXIMUM PAYOUT P.S.S.P. OSSTF (O.C.T.U.) Capped at $20,000.00 It is understood that the Twenty Thousand Dollars ($20,000.00) maximum payout cap under 22.02 d) of the Retirement Gratuity Plan will come into effect on the first day of January, 1986.10,000.00

Amount of Gratuity. a) The amount of gratuity paid to an eligible Member shall not exceed six (6) months’ salary computed on the basic salary (excluding any bonus, overtime payments, etc.) of the last full year for which the Member was employed by the Board provided such payout does not exceed the allowable maximum payout outlined in Clause 22.02 d). b) A Member, after ten (10) years of consecutive service with the Board, shall be entitled to a retirement gratuity computed in accordance with the formula set out in Clause 22.02 c) hereof, subject to 22.02 d), if the credit in the Member’s accumulated sick leave is sufficient, of 25% the last full year’s basic salary. This percentage shall increase each consecutive year thereafter by 5% until a maximum of 50% of the last full year’s basic salary is reached provided at no time such gratuity payout exceeds the allowable maximum outlined in Clause 22.02 d). c) The amount of the gratuity paid to an eligible Member shall be computed as follows subject to the allowable maximum outlined in Clause 22.02 d).. [25 to 50% as determined in clause 22.02 b)] X (basic salary of last full year) 200 (1400 hours) d) The amount of gratuity paid to an eligible Member shall be either the calculation under 22.02 c) above or as noted below, whichever is the lesser: EMPLOYEE GROUP MAXIMUM PAYOUT P.S.S.P. Capped at $20,000.00 It is understood that the Twenty Thousand Dollars ($20,000.00) maximum payout cap under 22.02 d) of the Retirement Gratuity Plan will come into effect on the first day of January, 1986.