Cash-In of Vacation Credits Sample Clauses

Cash-In of Vacation Credits. An employee may request to cash-in portions of unused vacation under the following conditions: 1. Annually in December of each year an employee may elect one irrevocable request for pay in lieu of vacation hours in the next calendar year. A request may not exceed the employee’s accrued vacation at the time payment is made. The employee must select the month in which to receive the pay-out. 2. The employee must maintain at least an eighty (80) hour balance after the cash-in occurs and agrees to take a minimum of forty (40) consecutive hours of leave (this can include a combination of vacation, sick leave, holiday hours, compensatory time, and/or flex schedule when used consecutively) in that same calendar year. In the event an approved vacation is canceled by the District, the forty (40) concecutive hour requirement is waived. 3. The request is irrevocable and shall state the number of hours to be paid in lieu of vacation. 4. Request will be paid on the pay date of the first pay period of the month for which the pay- out is requested. The pay-out will be at the employee’s regular base rate of pay at the time of the pay-out. 5. In cases where an employee has an unforeseeable emergency, a request shall be submitted to Human Resources. The General Manager or designee may approve modifying an employee’s request for pay in lieu of vacation hours or approve a request if an election was not made for that calendar year to be reimbursed for any or all of the required eighty (80) hour balance and may waive the requirement that the employee take a minimum of forty
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Related to Cash-In of Vacation Credits

  • Vacation Credits All employees shall participate in the County’s Terminal Pay Plan (Plan). However, only the terminal paychecks (including unused vacation) of those employees who have reached the age of fifty-five (55) shall be placed into the Plan. These terminal paychecks shall be placed into the Plan on a pre-tax basis in accordance with the Plan, all applicable laws and all rules and regulations applicable to the Plan.

  • Vacation Payout Where an employee requests in writing to have a specific number of vacation days paid out, and the Employer agrees to the request, the Employer will issue pay in lieu of vacation. Pay in lieu of vacation, if agreed, will be granted only after a minimum of 15 days' vacation time has already been taken in the year.

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • 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.

  • Vacation Credit Any outstanding vacation entitlement for a person going on LTD will be paid in cash upon expiry of sick leave. The cash payment will be calculated on the base earnings at the expiration of sick leave for the prorated days of vacation entitlement, any outstanding lieu days, any outstanding floating statutory holidays, and banked time for 40-hour per week employees. No vacation entitlement, floating holidays, or banked time for 40-hour per week employees accrues while a member is in receipt of LTD benefits.

  • Reinstatement of Vacation Days - Sick Leave In the event an employee is sick or injured prior to the commencement of his/her vacation, such employee shall be granted sick leave and the vacation period so displaced shall be added to the vacation period if requested by the employee and by mutual agreement, or shall be reinstated for use at a later date.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • 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.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to paid vacation in accordance with the Company’s vacation policies, as in effect from time to time. The Executive shall receive other paid time-off in accordance with applicable law and the Company’s policies for executive officers as such policies may exist from time to time.

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

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