Annual Leave Payout Sample Clauses

Annual Leave Payout. Employees participating in DROP subject to employer policy have one of the following options: a. Option 1: Receive their annual leave as a lump-sum distribution at the time of enrollment in DROP, b. Option 2: Receive a lump-sum payment at the end of the DROP period. c. If option (1) is chosen (annual leave paid as a lump-sum at the time of enrollment in DROP), this dollar amount will be included in the employee’s compensation for retirement benefit calculation purposes (FRS). d. If option (2) is chosen (wait until end of DROP period), this dollar amount is not included in the FRS benefit calculation. e. Under option (1) or option (2) above, annual leave will be placed into the St. Xxxxx County School District Special Payment Plan subject to contribution limits. Any annual leave in excess of Plan contribution limits will be paid to the participant subject to Federal tax and related payroll taxes (Social Security and Medicare).
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Annual Leave Payout. Any employee taking at least 6 weeks annual leave in a year (1 July to 30 June) will not be subject to the payout provisions outlined below Employees with more than 9 weeks accrued annual leave as at 1 July each year will have two weeks annual leave paid out Employees with more than 6 weeks accrued annual leave can elect to have two weeks paid out in a 12 month period (being 1 July to 30 June)
Annual Leave Payout. Employee shall have the option each year to pay out unused annual leave balance or carry over into next year.
Annual Leave Payout. Any employee who is laid off, discharged, retired, or separated from the service of the employer for any reason, shall be compensated in cash for the unused annual leave hours accumulated at the time of separation, not to exceed the maximum accrual of four hundred hours. In the case of death, a payment will be made to the estate for the total amount of accrued annual leave hours, not to exceed the maximum accrual. Each Employee shall receive, monthly, a balance of total vacation time available. An Employee may, at the discretion of Employer, take a shift of unscheduled vacation. Such vacation can be tentatively scheduled in advance, but is subject to a call in to determine availability of sufficient staffing for the shift. With sufficient staffing, two firefighters may be off each shift year round; however, the second firefighter off must be on a call in basis. The call in must be made to the supervisor on duty and cannot occur prior to 0600 or after 0615 on the day of the shift scheduled to be worked.
Annual Leave Payout. Employee shall be entitled to receive a lump sum payment for any and all days of Annual Leave accrued in accordance with Section 10 of Employee’s Employment Agreement, as amended.

Related to Annual Leave Payout

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

  • Annual Leave 17.1 An employee shall be entitled to four weeks annual leave for each twelve months’ service with the Company, exclusive of public holidays. Annual leave accumulates monthly on a pro rata basis. 17.2 The annual leave entitlement for each part time employee shall be calculated pro rata according to the ordinary hours he or she actually works. 17.3 The time of giving and taking of leave shall be by mutual arrangement between the Company and the employee concerned. 17.4 The Company may direct an employee to take annual leave during any shut down, including any such shut down over the Christmas and New Year period, provided the employee has an accrued annual leave balance that will at least cover the period of the shut down. 17.5 The Company may direct an employee to take up to a quarter of his or her total accrued annual leave entitlement if the employee’s accrued annual leave entitlement exceeds 8 weeks. 17.6 Payment for annual leave shall be made at the relevant minimum rate of pay in clause 19 – Minimum wages, plus a loading of 17.5 per cent on that rate of pay. 17.7 The Company may allow annual leave to be taken by an employee before the right thereto has accrued due. 17.8 An employee has no entitlement to the payment of the loading, when annual leave is taken wholly or partly in advance, until an entitlement accrues due and the loading is then payable in respect of the period of such leave and is calculated on the relevant minimum rate of pay in clause 19 – Minimum wages, payable at the accruing of the entitlement. 17.9 Where leave has been granted to an employee before the leave has accrued due, the Company may deduct the balance of the payment to the employee for that leave period from whatever remuneration is payable to him or her upon the cessation of employment. 17.10 An employee whose employment is terminated by the Company or who lawfully leaves the employment shall be entitled to a pro rata payment calculated on his or her relevant minimum rate of pay in clause 19 – Minimum wages, for the period in respect of which annual leave has not been taken, provided that the loading in clause 17.6 shall only be paid in respect of paid out annual leave for employees who have been employed for a minimum 12 months with the Company.

  • 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.

  • ’ Compensation Leave If such determination cannot readily be made and all healthcare leave or annual leave subject to 100% payoff has been applied to the absence, the employee shall be placed on Official Leave until a final determination is made.

  • Deferred Salary Leave Each employer ratifying this Agreement will establish or, as necessary, review and update a deferred salary leave plan consistent with Regulations issued by Canada Revenue Agency under the Income Tax Act. The parties may use the Application, Agreement, and Approval Form as a template (see Appendix H) for the deferred salary leave plan.

  • Maternity Leave Allowance ‌ (a) An employee who qualifies for maternity leave pursuant to Clause 21.1, shall be paid a maternity leave allowance in accordance with the Supplemental Employment Benefit (SEB) Plan. In order to receive this allowance, the employee must provide to the Employer, proof that she has applied for and is eligible to receive employment insurance benefits pursuant to the Employment Insurance Act. An employee disentitled or disqualified from receiving employment insurance benefits is not eligible for maternity leave allowance. (b) Pursuant to the Supplemental Employment Benefit (SEB) Plan, the maternity leave allowance will consist of 15 weekly payments equivalent to the difference between the employment insurance gross benefits and any other earnings received by the employee and 85% of the employee's basic pay.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following 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.

  • Sick Leave Bonus ‌ For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.

  • Sick Leave Pay A Nurse granted sick leave shall be paid for the period of such leave at her or his regular hourly rate of pay and the number of hours thus paid shall be deducted from the accumulated sick leave credits of the Nurse.

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