Common use of Payout Of Clause in Contracts

Payout Of. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his unused accumulated sick leave upon: (a) Retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of B.C., whichever shall last occur, or (b) Retirement with a permanent disability entitling the employee to superannuation, or (c) Death of an employee while in the service of the Board, payable to the employee's estate, or (d) Severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause.

Payout Of. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his their unused accumulated sick leave upon: (a) Retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of B.C.Pension Plan, whichever shall last occur, or (b) Retirement with a permanent disability entitling the employee to superannuationPension, or (c) Death of an employee while in the service of the Board, payable to the employee's estate, or (d) Severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause.

Payout Of. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his unused accumulated sick leave upon: (a) Retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of B.C.Pension Plan., whichever shall last occur, or (b) Retirement with a permanent disability entitling the employee to superannuationPension, or (c) Death of an employee while in the service of the Board, payable to the employee's estate, or (d) Severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause.