Annual Cash Out Sample Clauses

Annual Cash Out. In January of each year, eligible faculty may elect to participate in the attendance incentive program authorized by RCW 28B.50.553 and cash out unused Personal Leave accrued during the prior calendar year, subject to the following:
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Annual Cash Out. Employees accruing vacation are eligible to cash out up to five (5) days of vacation at their hourly rate of pay per year so long as a minimum of ten (10) days is maintained.
Annual Cash Out. An Annual Leave Cash Out Program (Attendance Incentive Program) shall be implemented as provided for in appropriate state law. On the effective date of this Agreement that program authorized by law is described below. If during the term of this Agreement the Legislature modifies the program as specified below, this Agreement shall be deemed to be amended to conform with such modifications. If during the term of this Agreement, the law authorizing such a program to be negotiated is nullified or repealed, the parties hereby agree that the program outlined herein shall also be nullified, provided the parties agree to immediately negotiate over the issue regarding whether to continue with the same or modified program or to let the Agreement stand with no such program. The Attendance Incentive Program as it exists on the effective date of this Agreement is as follows: In January of the year following any year in which a minimum of sixty (60) days of leave for illness is accrued, and each January thereafter, any eligible employee may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one day’s monetary compensation of the employee for each four full days of accrued leave for illness or injury in excess of sixty (60) days. Leave for illness or injury for which compensation has been received shall be deducted from accrued leave for illness or injury at the rate of four (4) days for every one day’s monetary compensation, PROVIDED that no employee may receive compensation under this section for any portion of leave for illness or injury accumulated at a rate in excess of one (1) day per month.
Annual Cash Out a. An employee may cash out, at 100% value of the regular rate of pay, up to 350 hours at any time during the fiscal year. Effective June 28, 2020, the amount of hours an employee can cash out will be increased to 500 hours. This cash out is based on the following.
Annual Cash Out. On January 1 of each year each faculty member at her/his option may cash in their unused personal leave earned during the previous calendar year less personal leave actually utilized during this period. Full-time faculty may cash in unused compensable personal leave days above an accumulation of sixty (60) compensable days at a ratio of one (1) full day's per diem pay for each four (4) full accumulated compensable Personal Leave Days. Part-time faculty may cash in unused compensable personal leave above an accumulation of 360 hours at a ratio of one (1) hour’s pay for each four (4) accumulated compensable hours. For part-time faculty, the cash-in rate will be equivalent to the per-hour rate in effect in the quarter of cash out.
Annual Cash Out. Once each calendar year, an employee, after providing 30 days’ written notice, will be permitted to cash-out up to forty (40) hours of accrued ETO leave, so long as the employee retains forty (40) hours of accrual, which would be paid on the following payday and be subject to all normal withholdings
Annual Cash Out. Unit members may request and receive payment at the base hourly rate for up to forty (40) hours of accrued vacation on an annual basis, provided that the unit member has a minimum remaining vacation balance of eighty (80) hours following payment. A unit member may request to sell back vacation by entering the number of desired hours on his/her time card. Payment for the hours shall be made in a supplemental paycheck in the following month. The vacation sell-back option is only available once each fiscal year for each unit member.
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Annual Cash Out. With the approval of the Department Director or designee, an employee may cash out, at 100% current value, up to 350 Universal Leave hours anytime during the fiscal year, provided the below requirements are met.  All combined leave balances do not fall below 80 hours after cash out.  At least 36 hours of leave has been used the last twelve (12) months (calculated using the rolling backward method) for time that would have been otherwise worked (i.e. not including donations received pursuant to the City’s leave donation programs or holidays).  An employee must be a current member of the IBEW Local 18 (see below – Transfer to a Non-Universal Leave Unit).

Related to Annual Cash Out

  • Sick Leave Annual Cash Out Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if:

  • PTO Cash Out Non-probationary employees who terminate shall be paid for all unused, accrued paid time off. Such cash out shall be made by the Employer at the time of the employee’s final paycheck.

  • Cash Out In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’ advance notice to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per Share of Common Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for a Share of Common Stock in connection with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee:

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • XXXXX CASH 21 CONTRACTOR is authorized to establish a xxxxx cash fund in an amount not 22 to exceed two hundred and fifty dollars ($250.00).

  • Proposed Annual Caps The Directors anticipate that the aggregate annual fee payable by the JV Company to Xxxx Xxx under the Renewed Sole Distributorship Agreement shall not exceed HK$12 million, HK$15 million and HK$18 million for the years ending 31 December 2019, 31 December 2020 and 31 December 2021, respectively. These annual caps have been estimated by the Directors (i) by reference to the Group’s estimated demand for supply of Products for each of the years ending 31 December 2019, 31 December 2020 and 31 December 2021, respectively, which were arrived at with reference to the annual amounts under the cooperation in the distribution of the Products in the Territories under the Sole Distributorship Agreement in each of the past three years; (ii) by reference to expected expansion on variety of Products; and (iii) on the assumption that the sourcing costs for the Products will increase at an annual inflation rate of 4%. Historical amounts For the years ended 31 December 2016, 31 December 2017 and 31 December 2018, the aggregate amounts under the cooperation in the distribution of the Products in the Territories under the Sole Distributorship Agreement are set out below: For the year ended 31 December 2016 2017 2018 HK$’000 HK$’000 HK$’000 Reasons for and benefits of entering into the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement The Group is principally engaged in the business of trading of grocery food products, trading of consumables and agricultural products, property investment, provision of money lending services, one- stop value chain services and provision of financial services. The Directors are of the view that entering into the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement could provide stable revenue to the grocery food business of the Group. The Directors are also of the view that the provision of the Products could create synergy effect and opportunities with the existing business of the Group and to further expand and develop its scope of business. In addition, due to the steady supply and sales of the Products in the past 3 years, transactions under the Trademark Licence Agreement and the Sole Distributorship Agreement contributed approximately 10% and approximately 13% to the revenue of the Group for each of the years ended 31 December 2016 and 31 December 2017, respectively. The Directors (including the independent non-executive Directors) are of the view that the transactions contemplated under the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement were entered into on normal commercial terms, and that the terms of the Renewed Trademark Licence Agreement, the Renewed Sole Distributorship Agreement and the annual caps are fair and reasonable and in the interests of the Company and the Shareholders as a whole. None of the Directors have any material interest in the transactions contemplated under the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement. Shareholding Structure of the JV Company Set out below is the shareholding structure of the JV Company as at the date of this announcement, which also illustrates the relationship between the JV Company and Xxxx Xxx arising from the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement: The Company 100% 51% Maxford Wealth The JV Company Xx. Xxxx Xx. Xxx spouse 49% Renewed Sole Distributorship Agreement 90% Xxxx Xxx Renewed Trademark Licence Agreement Information on Xxxx Xxx Xxxx Xxx is a company incorporated in Hong Kong with limited liability. It is engaged in the business of, inter alia, manufacture, production and distribution and sale of various products including but not limited to the Products. GEM Listing Rules Implications As at the date of this announcement, the equity of the JV Company is held as to 51% by Xxxxxxx Xxxxxx and 49% by Xx. Xxx, Xxxx Xxx by virtue of being a 30%-controlled company held by Xx. Xxxx (the spouse of Xx. Xxx) is therefore a connected person of the Company at subsidiary level under Rule 20.06(9) of the GEM Listing Rules. The transactions contemplated under the Renewed Trademark Licence Agreement and the sale and distribution of Products contemplated under the Renewed Sole Distributorship Agreement constitute continuing connected transactions of the Company. As (i) the transactions contemplated under the Renewed Trademark Licence Agreement are conducted on better than normal commercial terms; and (ii) all the percentage ratios are less than 0.1%, the Renewed Trademark Licence Agreement and the transactions contemplated thereunder are fully exempt in accordance with Rule 20.74(1) of the GEM Listing Rules. As (i) the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder constitute connected transactions between the Company and a connected person at the subsidiary level of the Company on normal commercial terms; (ii) the Board has approved the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder; and (iii) the independent non- executive Directors have confirmed that the terms of the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are fair and reasonable, the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are on normal commercial terms and in the interests of the Company and the Shareholders as a whole, the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are subject to the reporting, announcement and annual review requirements but exempt from the circular, independent financial advice and shareholders’ approval requirements in accordance with Rule 20.99 of the GEM Listing Rules.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

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