Annual Leave Conversion Sample Clauses

Annual Leave Conversion. Once in each payroll year, an employee may convert unused annual leave as a contribution to the Employer’s deferred compensation plan. Conversions must not cause an employee’s balance to go below 80 hours at the time of actual conversion. Requests for conversions must be submitted in writing on forms as designated by the Employer. Contributions to deferred compensation made under this provision are subject to all rules and regulations of the deferred compensation plans.
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Annual Leave Conversion. Subject to the approval of the Chief Constable in each instance, once each calendar year a member may request to convert to cash five (5) days (40 hours) of annual and/or public holiday leave.
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Annual Leave Conversion. 1. During the meet and confer between City and Local 145 for Fiscal Year 2009, the Parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the Parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: Employees in the Bargaining Unit will no longer be eligible to exercise any cash out feature of annual leave accrued from July 1, 2002 prospectively. Since employees cannot cash out post- July 1, 2002 annual leave, employees who have balances of post- July 1, 2002 annual leave at the end of their DROP period, will be permitted to extend the DROP period beyond the five-year maximum by that amount of post-July 1, 2002 annual leave not converted to service credit prior to entering DROP. Specific procedures for implementing this benefit will be subject to IRS rules, as interpreted by the City Attorney’s Office. 2. On April 21, 2008, the City Council approved the tentative agreement for Fiscal Year 2009 subject to the final MOU returning to the City Council for ratification on a future date. On April 1, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. SDCERS has not allowed any member to purchase service credit with annual leave since April 1, 2009.
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Annual Leave Conversion. 1. Employees may request to convert a minimum of 8 hours and a maximum of 200 hours of their accumulated annual leave hours to salary compensation twice per calendar year. The total number of hours converted per calendar year shall not exceed 200. Employees may not convert accumulated annual leave below a balance of 40 hours. 2. Conversion requests shall be submitted on City forms to Payroll. The deadlines for conversion requests are as follows: 2nd Friday in May 1st payday in June 2nd Friday in November 1st payday in December
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Annual Leave Conversion. During the meet and confer between the City and Local 145 for FY09, the parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: Effective July 1, 2002, employees in the bargaining unit who have not yet entered DROP will be allowed to convert annual leave cash equivalent to retirement service credit on a pre-tax basis. The amount of service credited will be the employer and employee cost of that service credit as determined by the Retirement Board. Employees in the bargaining unit will no longer be eligible to exercise any cash out feature of annual leave accrued from July 1, 2002 prospectively. Since employees cannot cash out post-July 1, 2002 annual leave, employees who have balances of post- July 1, 2002 annual leave at the end of their DROP period, will be permitted to extend the DROP period beyond the five year maximum by that amount of post-July 1, 2002 annual leave not converted to service credit prior to entering DROP. Specific procedures for implementing this benefit will be subject to Internal Revenue Service (I.R.S.) rules, as interpreted by the City Attorney’s Office. On April 21, 2008, the City Council approved the tentative agreement for FY09 subject to the final MOU returning to the City Council for ratification on a future date. On April 1, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. The City has not allowed any member to purchase service credit with annual leave since April 1, 2009.
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Annual Leave Conversion. Once per fiscal year, an employee may elect to cash out annual leave in the amount of forty (40) hours. The employee must have a minimum of one hundred sixty (160) hours to utilize this benefit. This benefit does not relieve the employee from taking the required normal vacation.
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Annual Leave Conversion. During the meet and confer between the City and Local 145 for FY09, the parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: On April 24, 2008, the City Council approved the tentative agreement for FY09 subject to the final MOU returning to the City Council for ratification on a future date. On April 28, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. The City has not allowed any member to purchase service credit with annual leave since April 11, 2009.
Sample 1
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Annual Leave Conversion. 28.3.1 A period of annual leave is exclusive of periods that an employee is entitled to leave in accordance with: (i) Clauses 29 – Personal Leave; (ii) Clause 30 – Compassionate Leave; (iii) Clause 33 – Long Service Leave; (iv) Clause 34 – Public Holidays; (v) Clause 32 – Community Service Leave; 28.3.2 Where an employee seeks to convert their annual leave in accordance with clause 28.5.1, the employee must immediately return any annual leave travel pass covering the period of leave which is sought to be converted.
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Annual Leave Conversion. Any employee moving from a ten (10) month or eleven (11) month position to a full twelve (12) month position will be eligible for the number of annual leave days stated in C-1 above based on the following conversion formula: Total Months Service in District/12 = Years Credited
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Related to Annual Leave Conversion

  • Sick Leave Conversion Sick leave accumulation in excess of 1,440 hours may be converted to paid vacation time at a ratio of two (2) hours of sick leave time for one (1) hour of vacation time, to a maximum of five (5) regularly-assigned workdays (not to exceed a total of forty (40) hours in any year. There shall be no conversion of unused sick leave in any amount at any time to any cash payment other than the above-described conversion to vacation time or severance pay in Article 13.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Annual Leave Loading During a period of annual leave an employee will receive a loading of 17.5 per cent calculated on the employee’s normal hourly rate of pay and the daily fares allowance if applicable. The loading will also apply to proportionate leave on lawful termination.

  • Date of Conversion Conversion Price: ---------------------------------------------------------------

  • Casual Conversion A casual Employee, who has been engaged by the Employer on a regular and systematic basis for a period in excess of six-weeks, thereafter, will have their contract of employment converted to permanent employment unless otherwise agreed in writing between the parties. Regular and systematic shall be defined as an average of 4 days or more, per week, over 6 weeks. Eligible current employees will be transitioned to full time no later than 6 weeks from the date of approval of this agreement.

  • Annual Leave upon termination (a) On termination of employment, the value of any accrued but untaken annual leave shall be paid out to an Employee. (b) Leave loading will also apply to annual leave paid out upon termination.

  • Automatic Conversion Subject to Section 5 below and, at the Company’s election and request, Holder’s reaffirmation of Holder’s representations and warranties under Section 3 of the Convertible Note Purchase Agreement, the principal amount of this Note (and all interest accrued on this Note at the option of the Payor) shall be converted into the number of shares of common stock as follows: (a) In the event of a next equity financing by the Company in one transaction or series of related transactions which raises an aggregate amount of at least One Million Five Hundred Thousand Dollars ($1,500,000) (the “Next Equity Financing”), the principal amount on this Note shall automatically be converted (regardless of whether or not the Note is surrendered to Payor) into the equity securities issued in the Payor’s Next Equity Financing (the “Next Equity Financing Stock”). Any accrued interest outstanding at the time of the conversion shall be paid in cash by the Company. This Note shall convert into the number of shares at the time of the “Next Equity Financing” equals to ___,000 shares of the Company’s Common Stock at an exercise price of $0.60 per share (the “Exercise Price”) This Note shall be deemed automatically cancelled immediately upon such conversion. As a condition precedent to the issuance of the Next Equity Financing Stock to Holder upon such conversion, Holder shall execute and deliver such agreements, instruments and other documents as are executed and delivered by the other investors in connection with their purchase of the Next Equity Financing Stock. (b) In the event of the “Company’s Sale”, defined below, at the option of Payor, the principal hereunder and, at the option of the Payor, shall automatically be converted (regardless of whether or not the Note is surrendered to Payor) into the number of shares (the “Company’s Sale Stock”) equals to ____,000 shares of the Company’s Common Stock at an exercise price of $0.60 per share (the “Exercise Price”). This Note shall be deemed automatically cancelled immediately upon such conversion.

  • Return from Leave of Absence (a) Before a Nurse may return to work from a leave granted under Article 9.00, she or he must provide a minimum of four (4) weeks written notice of the specific date of his or her return to work, or such shorter time as mutually agreed. (b) Upon return from an approved Unpaid Leave of Absence, a Nurse shall be reinstated to her or his former position unless the position has been discontinued, in which case the Nurse shall be appointed to an equivalent position. (c) This clause requiring four (4) weeks written notice, does not apply to other leaves granted by an express provision of this Collective Agreement with different requirements for written notice.

  • Maternity Adoption and Parental Leave For the purposes of granting Maternity, Adoption and Parental Leave, the provisions of the Canada Labour Code and of its Regulations shall apply.

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