Common use of Annual Cash Out Clause in Contracts

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: a. Faculty must maintain a minimum balance of sixty (60) days of Personal Leave following any cashout. b. For full-time faculty, Personal Leave will be cashed out at a rate of one (1) full day’s per diem pay for each four (4) full accumulated Personal Leave days; for part-time faculty, Personal Leave will be cashed out at a rate of one (1) hour’s pay for each four (4) hours of Personal Leave. For part-time faculty, the cash-out rate will be the hourly rate in effect at the time of the cash out.

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: a. Faculty must maintain a minimum balance of sixty four hundred twenty (60420) days hours of Personal Leave following any cashout. b. For full-time faculty, Personal Leave will be cashed out at a rate of one (1) full day’s per diem pay for each four seven (47) full accumulated Personal Leave dayshours; for part-time adjunct faculty, Personal Leave will be cashed out at a rate of one (1) hour’s pay for each four (4) hours of Personal Leave. For part-time adjunct faculty, the cash-out rate will be the hourly rate in effect at the time of the cash out.

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 28B.50.533 and cash out unused Personal Leave accrued during the prior calendar year, subject to the following: a. Faculty must maintain a minimum balance of sixty (60) days of Personal Leave following any cashout. b. For full-time faculty, Personal Leave will be cashed out at a rate of one (1) full day’s per diem pay for each four (4) full accumulated Personal Leave days; for part-time faculty, Personal Leave will be cashed out at a rate of one (1) hour’s pay for each four (4) hours of Personal Leave. For part-time faculty, the cash-out rate will be the hourly rate in effect at the time of the cash out.