Common use of Payout Upon Separation Clause in Contracts

Payout Upon Separation. For purposes of remuneration, at time of separation, employees will be credited at their hourly rate of pay for accrued hours of vacation. Employees shall be compensated for unused vacation at the time of separation from the District either as monetary remuneration or as compensatory time off upon the agreement of both parties.

Payout Upon Separation. For purposes of remuneration, at time of separation, employees will be credited at their hourly rate of pay inclusive of incentive for accrued hours of vacation. Employees shall be compensated for unused vacation at the time of separation from the District either as monetary remuneration or as compensatory time off upon the agreement of both parties.