Payment of Longevity Pay Upon Termination Clause Samples

The 'Payment of Longevity Pay Upon Termination' clause establishes the employer's obligation to compensate an employee for accrued longevity pay when their employment ends. Typically, this clause details how longevity pay is calculated based on the employee's length of service and specifies that any earned but unpaid longevity pay will be included in the employee's final paycheck. Its core function is to ensure that employees receive all compensation owed for their service tenure, thereby preventing disputes over unpaid benefits at the time of termination.
Payment of Longevity Pay Upon Termination. An eligible Employee shall be paid Longevity Pay upon termination of employment with the City, provided the Employee leaves under honorable conditions. Payment will be made for each complete month of employment as follows:
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Payment of Longevity Pay Upon Termination. Employees terminating during the year prior to the payout date will receive a full longevity payout.
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Payment of Longevity Pay Upon Termination. An eligible employee shall be paid longevity pay upon termination of employment with the City, provided employee leaves under honorable conditions. Upon death of an employee, the longevity pay shall be paid to the beneficiary or estate. Longevity will not be prorated upon termination or death following January 1 of each year. If the employee terminates following Longevity payment in November through December 31 of the same year, no longevity is payable.
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Payment of Longevity Pay Upon Termination. To be eligible to receive a Longevity Pay Payment, an individual must be employed by the County at the time the payment is issued. Employees who separate from their employment with the County, whether voluntarily or involuntarily, before the issuance of the Longevity Payment, in accordance with this provision, are not entitled to receive a Longevity Pay Payment. However, in the case of the death or retirement of an employee prior to the issuance of the County’s Longevity Payments, where the individual would otherwise be eligible to receive a Longevity Payment had he or she not passed away or retired prior to the issuance of such payment, the County will issue that individual’s Longevity Payment as follows:
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Related to Payment of Longevity Pay Upon Termination

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Payments Upon Termination A. Upon termination of the Executive's employment hereunder, the Company shall be obligated to pay and the Executive shall be entitled to receive, on the pay date for the pay period in which the termination occurs, all accrued and unpaid Base Salary to the date of termination. In addition, the Executive shall be entitled to any benefits to which he is entitled under the terms of any applicable employee benefit plan or program or applicable law. B. Except as provided in Section 7(A), upon termination of the Executive's employment by the Company without Cause or by the Executive due to Good Reason, in addition to the amount set forth in Section 6(A), the Company shall be obligated to pay, and the Executive shall be entitled to receive, (i) Base Salary for a period of three years and (ii) continued medical and dental benefits for a period of three years at no cost to the Executive. The Company may cease all payments of Base Salary and bonus under this Section 6(B) in the event of a willful breach by the Executive of the provisions of Sections 8, 9 or 10 of this Agreement or any inadvertent breach that continues after notice given to the Executive by the Company. As a condition precedent to the receipt of any of the severance benefits hereunder the Executive hereby agrees to execute a release of claims against the Company and its affiliates in form and substance reasonably satisfactory to the Company. C. In the event Executive elects to terminate employment as set forth in Section 5(F) then in such event any options not vested as set forth in Section 3(B) shall terminate. D. Upon any termination or expiration of the Executive's employment hereunder pursuant to Section 5, the Executive shall have no further liability or obligation under or in connection with this Agreement; provided, however, that the Executive shall continue to be subject to the provisions of Sections 8, 9, 10, 11 and 12 hereof (it being understood and agreed that such provisions shall survive any termination or expiration of the Executive's employment hereunder for any reason). Upon any Voluntary Termination by the Executive (other than a resignation by the Executive for Good Reason), or expiration of Executive's employment agreement, the Company shall have no further liability under or in connection with this Agreement, except to pay the portion of the Executive's Base Salary earned or accrued at the date of termination.

  • Payment Upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Recovery upon Termination On the termination of the Contract for any reason, the Contractor shall at its cost: