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Common use of Cashing Out Clause in Contracts

Cashing Out. Employees who are eligible to access their accruals of long service leave (i.e. after 7 years service) may apply in writing to "cash-out" a proportion of such leave instead of taking leave. However, at least 4 weeks leave must be retained at any time, to be taken as long service leave in the usual manner. "Cashing-out" may occur only once in any 5 year period.

Appears in 3 contracts

Samples: Support Staff Enterprise Agreement, Workplace Agreement, Administration Staff Workplace Agreement

Cashing Out. (a) Employees who are eligible to access their accruals of long service leave (i.e. after 7 years years’ service) may apply in writing to "cash-out" a proportion of such leave instead of taking leave. . (b) However, at least 4 weeks leave must be retained at any time, to be taken as long service leave in the usual manner. "Cashing-out" may occur only once in any 5 year period.

Appears in 1 contract

Samples: Nurses Enterprise Agreement