ADDITIONAL VACATION PURCHASE Sample Clauses

ADDITIONAL VACATION PURCHASE. All full-time employees subject to this MOU, excluding part-time and intermittent employees, may elect to purchase one or two additional weeks of vacation over and above their regular entitlement as set forth in Section 10A. of this MOU. The additional week(s) may be purchased in the following manner: On or before the biweekly pay period nearest October 1 of any year, an eligible employee shall submit a written request to the Agency/Department Head, stating his/her desire to purchase one or two extra weeks of vacation. Such vacation must be purchased in increments of one or two weeks. The County shall then pay such employee 97.38% of his/her salary for one additional week or 94.76% of his/her salary for two additional weeks, until the biweekly pay period ending nearest June 30. (The 2.62% or 5.24% reduction is the value of one or two week(s) of vacation prorated over approximately nine months.) The additional vacation, once purchased, may be taken with the employee's regular vacation entitlement. Beginning the Fall of 2002, employees eligible for vacation purchase may elect to purchase either one or two weeks of vacation under the Vacation Purchase Plan during Open Enrollment. On the first pay period of the calendar year, the employee’s vacation balance will be updated with the additional amount of vacation purchased. Employees may then use the vacation time purchased, scheduled by mutual agreement between the employee and the Agency/Department Head. Employees will then pay for the vacation time purchased in equal installments during the calendar year. Should an employee use their purchased vacation time, and leave the employment of the County prior to paying for the additional vacation, the County will recover the cost from the employee. 1. Except for Personal Leave granted under Section 10L., purchased vacation must be utilized before vacation balances accrued pursuant to Section 10A. or 10B. are utilized. In the event that an employee has exhausted vacation balances accrued pursuant to Section 10A. or 10B., then purchased vacation may be utilized for Personal Leave granted under Section 10L. 2. For purposes of cash payment of vacation leave, vacation purchased pursuant to this section shall be combined with vacation accrued pursuant to Section 10A. or 10B. Said combined vacation balance shall be subject to the cash payment limitations of Section 10D. hereof. 3. Employees may not elect to purchase one additional week of vacation if their purchased vacati...
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ADDITIONAL VACATION PURCHASE. 1. Employees covered by this MOU, who have a vacation balance less than the cap of 240, may elect to purchase either forty (40) or eighty (80) additional hours of vacation per year provided, however, that any employee who so elects this additional purchase will take a reduction in pay equivalent to the additional hours purchased. This additional purchase must be accomplished over a twelve (12) month period of time, and hours purchased will be credited to the employee’s vacation balance each pay period as follows: 40 hours purchased = 1.54 hours vacation accrual each pay period 80 hours purchased = 3.08 hours vacation accrual each pay period An employee’s election to purchase additional vacation shall not raise the employee’s vacation balance above 240 hours. Should an employee’s vacation balance reach the 240-hour cap, no further purchase will be permitted until said employee reduces their vacation balance below 240 hours. 2. Employees who do not purchase additional vacation hours under paragraph 1 above may choose to transfer compensatory time off in blocks of either forty (40) or eighty (80) hours. Employees may transfer compensatory time if the transfer of such hours will not result in the employee having more than 240 hours of accrued vacation time by the end of the year. 3. Employees must use all additional vacation hours purchased under this provision within twelve months following completion of the additional accrual. The provisions of Section 3.5 regarding scheduling of time off shall apply to this additional vacation purchase.
ADDITIONAL VACATION PURCHASE. Full-time eligible employees subject to this MOU may elect to purchase one or two additional weeks of vacation over and above their regular entitlement as set forth in Section 10A. of this MOU. Part time and intermittent employees may not purchase vacation. The following conditions shall apply to vacation purchase: 1. On the first pay period of the calendar year, the employee’s vacation balance will be updated with the additional amount of vacation purchased. Employees may use the vacation time purchased, scheduled by mutual agreement between the employee and the Agency/Department Head. Employees pay for the vacation time purchased in equal installments during the calendar year. 2. To be eligible to purchase vacation for the upcoming plan year, an employee must have completed payment for any previous vacation purchased for the current plan year, and must have no more than one week of unused purchased vacation as of the third pay period prior to the start of Open Enrollment. The County reserves the right to revoke vacation purchased for the upcoming plan year if the eligibility criteria are not met. 3. In order to be eligible to purchase two weeks of vacation, an employee must have used all previously purchased vacation leave as of the third pay period prior to the start of Open Enrollment. 4. In the event that an employee uses purchased vacation and leaves County service prior to paying for it, the employee agrees as a condition of participation that the County has the right to recover the unpaid cost for any used and unpaid vacation from the employee, including deducting any sum owed from the employee’s final pay warrant. 5. In the event that an employee is unable to cover the cost of purchased vacation in any pay period(s) due to insufficient pay, the County reserves the right to adjust the amount of the deductions from future pay warrants to cover the cost of the purchased vacation. 6. In the event that a participating employee moves between a 40-hour per week position and a 37.5- hour per week position, s/he shall carry over his/her purchased vacation balance in the same number of days and fractions of days. 7. In the event that an employee changes status from eligible to purchase vacation to a non-eligible status: a. The County shall cease deductions and no additional days will be allowed for purchase. b. The County shall reduce the purchased vacation balance by the amount of vacation for which the employee has not yet paid. c. The employee shall be a...

Related to ADDITIONAL VACATION PURCHASE

  • Increment Date for Salary Grid Placement Upon achieving one (1) year of experience, an increment shall be awarded on the first of the month following the month in which the experience accumulation is earned.

  • Additional Purchase Price The purchase price for the Additional Shares (the "Additional Purchase Price") shall be an amount equal to (i) the difference between (1) the aggregate proceeds to Purchaser from the sale of the Optional Securities and (2) the aggregate cost to Purchaser, as notified by Purchaser to Seller at the Second Time of Delivery, of the Additional STRIPS, multiplied by (ii) a fraction, the numerator of which is the Firm Share Base Amount and the denominator of which is the number of Firm Securities.

  • Additional Payment Terms All payments must be made in U.S. dollars and delivered to us at any one of our branch offices or to the address shown on the monthly statement. If we receive your payment before 5:00 p.m. (Mountain Standard Time) on a business day, at the address shown on the front of your monthly statement or at any of our branch offices, we will credit your payment as of the date of receipt. All other payments will be credited to your Account on the next business day following receipt. We may accept late or partial payments as well as payments marked “PAID IN FULL” or other restrictive endorsements, without losing any of our rights under this Agreement and without such payments constituting full accord and satisfaction of the debt. If you make payments using personal checks, and your financial institution refuses to pay the check and returns it to us, you agree to pay a Return Payment Fee. If your loan Account balance is less than the minimum payment amount you must pay the entire balance. You may repay all or part of what you owe at any time. However, so long as you owe any amount you must continue to make your periodic minimum payment. Your minimum monthly payment will be allocated to your account in accordance with all applicable laws and regulations. Personal Identification Number. We will issue you a Personal Identification Number (“PIN”) to be used with your Card. You agree not to write this PIN on your Card, and not to carry your PIN with you at the same time as you carry your Card. We will treat any charge made by you using your Card and PIN as having been authorized by you. If you keep your PIN with the Card, we can refuse to reissue your Card. Change of Terms. We can change the terms of this Agreement, including all fees, other charges and Annual Percentage Rate, at any time, subject to applicable laws and regulations. Events of Default. You are in default if you fail to pay the minimum payment listed on each billing statement on time, file for bankruptcy, exceed your credit limit without our permission, or default on this or any other Nusenda Federal Credit Union Card Agreement you have with us. If you are in default, we may close your Account and require a shorter amortization of your account balance, subject to applicable laws and regulations. No notice is required. We may also declare the whole balance due if you die, if you make false or misleading statements on your application, or if other creditors attach or garnish your property. If you have given us a security interest in a share Account, share draft Account, or certificate of deposit, we may use the deposit amount to pay any amount you owe us. Collection Costs. If we have to refer collection of your Account to a lawyer (who is not our salaried employee), to the extent permitted by law, you will have to pay our attorney’s fee plus court costs and any other fees.

  • Additional Benefits During the term of this Agreement, the Employee shall be entitled to the following fringe benefits:

  • Cash Purchase Price The term "Cash Purchase Price" shall have the meaning set forth in Section 2.3(a).

  • Agreement to Purchase Purchase Price Buyer acknowledges that it was the successful bidder for the Property at the Foreclosure Sale with a successful bid for the Property at the Foreclosure Sale in the amount of [ ] ($ ) (the “Purchase Price”), and agrees to purchase all of the interest in the Property from Seller in accordance with and in reliance upon the terms and conditions of this Agreement.

  • Optional Benefits Optional Group Life Insurance

  • Additional Term Loans Subject only to the satisfaction or waiver of the conditions expressly set forth in Section 4 of the Eleventh Amendment, each 2014-1 Additional Term Lender agrees to make a loan in Dollars (the “2014-1 Additional Term Loans”) to the Borrower on the Eleventh Amendment Effective Date in the aggregate principal amount of such Lender’s 2014-1 Additional Term Commitment. No amount of a 2014-1 Additional Term Loan which is repaid or prepaid by the Borrower may be reborrowed hereunder. The 2014-1 Additional Term Loans shall be denominated in Dollars, shall be maintained as and/or converted into Base Rate Loans or Eurocurrency Loans or a combination thereof, provided, that all 2014-1 Additional Term Loans made by the 2014-1 Additional Term Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of 2014-1 Additional Term Loans of the same Type. The proceeds of the 2014-1 Additional Term Loans made on the Eleventh Amendment Effective Date shall be placed into escrow with the Eleventh Amendment Escrow Agent on the terms set forth in the Eleventh Amendment Escrow Agreement. Subject only to the satisfaction or waiver of the conditions set forth in (x) Section 5.5 or (y) Section 5.2 and Section 5.6, as applicable, and the additional conditions expressly set forth in the Eleventh Amendment Escrow Agreement, the 2014-1 Additional Term Loans shall be released from escrow on the Eleventh Amendment Release Date. If the 2014-1 Additional Term Loans Termination Date occurs, the proceeds of the 2014-1 Additional Term Loans shall be released from escrow on the conditions set forth in the Eleventh Amendment Escrow Agreement and refunded and repaid in full (together with all accrued and unpaid interest thereon) to the 2014-1 Additional Term Lenders on the 2014-1 Additional Term Loan Maturity Date in accordance with the Eleventh Amendment Escrow Agreement.

  • Acquisition Price The aggregate acquisition price for the JET Shares shall be one share of Common Stock $.001 par value per share, of Buyer, issued by the Buyer, for every one JET Shares transferred hereunder (the "EYEQ Shares"). The acquisition price will be equitably adjusted for any stock splits, reverse stock splits, stock combinations or recapitalizations of Buyer which occur after August 7, 1998 and prior to closing as set forth in Section 3 hereof.

  • Asset Purchase Price (a) All Assets and assets of the Failed Bank subject to an option to purchase by the Assuming Institution shall be purchased for the amount, or the amount resulting from the method specified for determining the amount, as specified on Schedule 3.2, except as otherwise may be provided herein. Any Asset, asset of the Failed Bank subject to an option to purchase or other asset purchased for which no purchase price is specified on Schedule 3.2 or otherwise herein shall be purchased at its Book Value. Loans or other assets charged off the Accounting Records of the Failed Bank before the Bid Valuation Date shall be purchased at a price of zero. (b) The purchase price for securities (other than the capital stock of any Acquired Subsidiary, Shared-Loss Securities, FRB and FHLB stock) purchased under Section 3.1 by the Assuming Institution shall be the market value thereof as of Bank Closing, which market value shall be (i) the market price for each such security quoted at the close of the trading day effective on Bank Closing as published electronically by Bloomberg, L.P., or alternatively, at the discretion of the Receiver, IDC/Financial Times (FT) Interactive Data; (ii) provided, that if such market price is not available for any such security, the Assuming Institution will submit a bid for each such security within three days of notification/bid request by the Receiver (unless a different time period is agreed to by the Assuming Institution and the Receiver) and the Receiver, in its sole discretion will accept or reject each such bid; and (iii) further provided in the absence of an acceptable bid from the Assuming Institution, each such security shall not pass to the Assuming Institution and shall be deemed to be an excluded asset hereunder. (c) Qualified Financial Contracts shall be purchased at market value determined in accordance with the terms of Exhibit 3.2(c). Any costs associated with such valuation shall be shared equally by the Receiver and the Assuming Institution.

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