Common use of ACCUMULATION AND PAYOUT Clause in Contracts

ACCUMULATION AND PAYOUT. All accruals as of June 30th will be paid in the first paycheck in July. An employee may notify the payroll clerk in writing two weeks in advance of the desire to have twenty or more hours of compensatory hours paid out in the following payroll cycle. Should the employee no longer be employed by SECC, through either termination, resignation, retirement or death, the employee shall receive a payout for all Compensatory Time accrued by the employee.

ACCUMULATION AND PAYOUT. All accruals as of June 30th 30 will be paid in the first paycheck in July. An employee with less than one year of service as of June 30th may carry over forty (40) hours in the next fiscal year. An employee may notify the payroll clerk in writing two weeks in advance of the desire to have twenty or more hours of compensatory hours paid out in the following payroll cycle. Should the employee no longer be employed by SECC, through either termination, resignation, retirement or death, the employee shall receive a payout for all Compensatory Time accrued by the employee.

ACCUMULATION AND PAYOUT. All accruals as of June 30th 30 th will be paid in the first paycheck in July. An employee with less than one year of service as of June 30th may carry over forty (40) hours in the next fiscal year. An employee may notify the payroll clerk in writing two weeks in advance of the desire to have twenty or more hours of compensatory hours paid out in the following payroll cycle. Should the employee no longer be employed by SECC, through either termination, resignation, retirement or death, the employee shall receive a payout for all Compensatory Time accrued by the employee.