Comp Time Sell Back Sample Clauses
The "Comp Time Sell Back" clause allows employees to convert accrued compensatory time off into monetary compensation instead of taking time off. Typically, this clause outlines the conditions under which employees may request payment for unused comp time, such as minimum accrual thresholds or specific periods during the year when sell back is permitted. Its core practical function is to provide flexibility for employees who may prefer additional pay over time off, while also helping employers manage workforce availability and reduce accrued leave liabilities.
Comp Time Sell Back. Every October 1-15, each employee will be provided the option to sell back up to 40 hours of comp time in 8-hour increments, to be paid out on the last full pay period of November of the same calendar year.
Comp Time Sell Back. Every November 1-15, each officer will be provided the option to cash out up to 40 hours of comp time in 8-hour increments, to be paid out on the first full pay period in December of that same year.
Comp Time Sell Back. Whenever an employee separates from City employment any unused Comp Time will be paid at a straight hourly salary rate. Once accepted as comp time the time must be used as comp time unless the employee separates employment.