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. 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 If during the term of this Agreement, the law authorizing such a program to be negotiated is nullified or repealed, the parties hereby agree that the program outlined herein shall also be nullified, provided the parties agree to immediately negotiate over the issue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.
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Annual Cash Out. 36 Employees accruing vacation are eligible to cash out up to five (5) days of 37 vacation at their hourly rate of pay per year so long as a minimum of ten (10) 38 days is maintained. 39
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Annual Cash Out a. An employee may cash out, at 100% value of the regular rate of pay, up to 500 hours at any time during the fiscal year. This cash out is based on the following.
Sample 1
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.
Sample 1
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
Sample 1
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.
Sample 1
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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).
Sample 1

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:

  • 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 25 CONTRACTOR is authorized to establish a xxxxx cash fund in an amount not 26 to exceed one thousand dollars ($1,000).

  • 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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