Carryover of Vacation Benefits Sample Clauses

Carryover of Vacation Benefits. Vacation credits shall only be accumulated during one benefit year for use during the next or succeeding year’s benefit years as herein below provided: no vacation credits shall be accumulated for more than 12 months from the date that credits thereof commenced, but credits for the succeeding year shall thereupon commence to run. No employee shall be permitted to continue working and to take his/ her vacation pay in lieu of a vacation; except that any employee with accumulated vacation credit entitling him/her to a vacation of more than two (2) weeks may elect to take a reduced vacation period of not less than two (2) weeks and not use the balance of said vacation credit in that benefit year, but instead carry it over to the following benefit year. The total amount of vacation credit, regardless of when earned, that an employee may elect to carry over must not exceed four (4) weeks; any accrued vacation that exceeds four (4) weeks shall be paid out by the Company. Section 2.
Sample 1
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Carryover of Vacation Benefits. One-half of the vacation benefits which are accrued in any fiscal year pursuant to Section 10.2 of this Article may be carried forward to be used in the immediate following fiscal year. If an employee is not permitted to take his full annual vacation, the amount not taken if in excess of one-half of their accrued vacation shall be paid to the employee. Years of Service Month Accrual (Days) Annual Accrual (Hrs.) Maximum Allowable Carryover (Hrs.) As of June 30th 1-5 .9167 88 44 6-10 1.3333 128 64 11-13 1.467 136 68 14-16 1.75 168 84 17-19 1.8334 176 88 20+ 1.9167 184 92 Example: If an employee has been here for four years, as of June 30th, they will be able to carryover a maximum 44 hours into the next fiscal year.
Sample 1

Related to Carryover of Vacation Benefits

  • Vacation Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Sick Benefits 15.01 Eligible employees will receive Short Term Disability Benefits in accordance with the terms and conditions outlined in the STD Plan Text, a copy of which has been supplied to the Union. The STD plan forms part of this Collective Agreement.

  • Entitlement to Vacation Leave With Pay An employee is entitled to vacation leave with pay to the extent of his earned credits but an employee who has completed six (6) months of continuous employment may receive an advance of credits equivalent to the anticipated credits for the vacation year.

  • VACATION AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive vacation pay as a percent of the employee's total earnings exclusive of the Employer's contribution to the Union's Benefit Plan. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.

  • Vacation Pay (d) Paid Union leaves. All other payments, premiums, allowances etc. are excluded.

  • Annual Vacation Pay Vacation pay shall be paid at the regular hourly rate of the Nurse in effect immediately prior to the Nurse taking vacation.

  • Public Benefits This Agreement provides assurances that the Public Benefits identified below will be achieved and developed in accordance with the Applicable Rules and Project Approvals and with the terms of this Agreement and subject to the City’s Reserved Powers. The Project will provide Public Benefits to the City, including without limitation:

  • Calculation of Vacation Pay Vacation pay shall be at the rate effective immediately prior to the vacation period. However, should any salary increase become effective during the employee's vacation period, he/she shall receive the benefit of such increase from the effective date.

  • Education Benefits Notwithstanding the provisions of Article 5, academic staff members who qualify for benefits in accordance with Article 23.5.2.1 may take a credit, or non-credit language class offered by the University provided it does not interfere with performance of duties as determined by the Xxxx. The member and the Xxxx may discuss ways in which duties may be reassigned to make it possible for the member to take the class. Upon successful completion, reimbursement of tuition will be provided for one class per semester.

  • VACATIONS AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive vacation pay as a percent of the employee's total earnings exclusive of the Employer's contribution to the Union's Pension, Health Benefit Plan, Education and Assistance Fund and Industry Fund. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.

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