Annual Buyback Sample Clauses
Annual Buyback. Employees who have accumulated 185 days of sick leave as of the beginning of a school year shall be eligible for a bonus at the end of the year based upon their use of sick leave during the year. Bonuses shall be paid in the last pay period of June as indicated below: Days of Sick Leave Used Bonus 0 $1200 1 $800 2 $560 3 $400
Annual Buyback. Effective April 1, 2012, sick leave in excess of two hundred forty (240) hours) may be cashed in at 50% up to the greater of the maximum number of accrued but unused sick leave hours as of December 31, 2011 or 600 hours at the employee’s regular hourly rate.
Annual Buyback. Employees with five (5) or more years of continuous full-time or three-quarter- time service with the City will be allowed to sell accrued vacation leave back to the City at one-hundred percent (100%) of its full value. The maximum amount of the annual buyback is as follows: Date of hire to 5 years of service 0 hours 5 years plus one day to 10 years 40 hours 10 years plus one day or more 60 hours Employees will be given the opportunity to sell accrued vacation leave back to the City once per year on a date determined by the City, on or before July 31st of each fiscal year.
Annual Buyback. Employees with five (5) or more years of continuous full-time or three-quarter- time service with the City will be allowed to sell accrued vacation leave back to the City at one-hundred percent (100%) of its full value. The maximum amount of the annual buyback is as follows: Employees will be given the opportunity to sell accrued vacation leave back to the City once per year on a date determined by the City, on or before July 31st of each fiscal year.