Common use of Cash-out of Leave Clause in Contracts

Cash-out of Leave. a) An employee employed in a non-teaching capacity may apply, in writing, to the CEO to cash-out an amount of the employee’s available recreation leave provided that: b) the employee’s remaining accrued entitlement to paid recreation leave is not less than four weeks; c) each cashing-out of a particular amount of paid recreation leave must be by a separate agreement in writing between the CEO and employee; d) the employee must be paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone; and e) a minimum of five days to be cashed-out on any occasion.

Cash-out of Leave. (a) An employee employed in a non-teaching capacity may apply, in writing, to the CEO to cash-out an amount of the employee’s available recreation leave provided that: (b) the employee’s remaining accrued entitlement to paid recreation leave is not less than four weeks; (c) each cashing-out of a particular amount of paid recreation leave must be by a separate agreement in writing between the CEO and employee; (d) the employee must be paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone; and (e) a minimum of five days to be cashed-out on any occasion.