Common use of Monetary Equivalent Clause in Contracts

Monetary Equivalent. An employee who resigns (upon two (2) weeks prior notice) retires, or is laid off, shall be compensated for vacation that has been earned and unused in the immediately preceding fiscal year and in the current fiscal year. All vacation benefits accrued will be paid to the estate of an employee who becomes deceased while on full pay status or who is receiving disability or workers’ compensation benefits.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Monetary Equivalent. An employee who resigns (upon two (2) weeks prior notice) retires), retires or is laid off, shall be compensated for vacation that has been earned and unused in the immediately preceding fiscal year and in the current fiscal year-year. All -All-vacation benefits -benefits accrued will be -be- paid to -to-the estate of an employee who -estate.-of.an -employee, who------ becomes deceased while on full full-pay status or who is receiving disability or workers’ compensation benefits.. I

Appears in 1 contract

Sources: Collective Bargaining Agreement