Common use of Cashing out annual leave Clause in Contracts

Cashing out annual leave. (a) An Employee may “cash out” an amount of annual leave credited to the employee (in lieu of the amount of annual leave) subject to the following: (i) No more than ten (10) days of accrued annual leave may be “cashed out” in any 12 month period. (ii) Notwithstanding the above, an Employee’s “bank” of annual leave accrued must never fall below twenty (20) days (pro rata for part time). (iii) On each occasion the Employee wishes to “cash out” an amount of annual leave, the Employee must advise the Employer in writing, of the Employee’s election to “cash out” an amount of annual leave and the amount of annual leave to be “cashed out”. (b) Any annual leave that is “cashed out” will be paid at the rate ordinarily paid for annual leave. (c) Superannuation guarantee contributions and annual leave loading will also be paid in respect to any amount of “cashed out” annual leave.

Cashing out annual leave. (a) An Employee may “cash out” an amount of annual leave credited to the employee (in lieu of the amount of annual leave) subject to the following: (i) A request to cash out annual leave may only be made once in any 12-month period. (ii) No more than ten (10) days of accrued annual leave may be “cashed out” in any 12 12-month period. (iiiii) Notwithstanding the above, an Employee’s “bank” of annual leave accrued must never fall below twenty (20) days (pro rata for part time). (iiiiv) On each occasion the Employee wishes to “cash out” an amount of annual leave, the Employee must advise the Employer in writing, of the Employee’s election to “cash out” an amount of annual leave and the amount of annual leave to be “cashed out”. (v) Each cashing out of a particular amount of paid annual leave must be by a separate agreement in writing between the Employer and the Employee. (b) Any annual leave that is “cashed out” will be paid at the rate ordinarily paid for annual leave. (c) Superannuation guarantee contributions and annual leave loading will also be paid in respect to any amount of “cashed out” annual leave.