Common use of Compensation Credits Clause in Contracts

Compensation Credits. Each employee shall receive two (2) normal workweeks of vacation, to be taken as leave with pay or pay at the employee's option. The employee shall receive compensation for normal workweeks at the employee's regular hourly rate of pay. The employee must exercise this option within each fiscal year. Computations will be based on the employee's rate of pay at the time of the request. This benefit will not be available to any person who has not been employed by the County for at least one year unless the person has completed their trial service period of employment prior to the end of the fiscal year. If an eligible employee elects to receive the credits as pay, it must be paid in increments equal to one workweek. No partial pay (less than one workweek) is allowed. If an eligible employee elects to receive the credits as vacation, it may be scheduled one (1) day at a time or as a unit, subject to the approval of the department head. This benefit is to be used by the employee based on the individual’s employment status as of July 1 of each fiscal year. If the employee completes their trial service period prior to the end of the fiscal year, the benefit will be prorated for that period between the employee's continuous service date and the end of the County's fiscal year. Employees hired on or after July 1, 2008, will not receive compensation credits. In lieu of receiving compensation credits, new employees will receive a higher rate of pay generated by rolling the value of the compensation credits (3.84%) into the base rate of pay.

Compensation Credits. Each employee Employees hired before July 1, 2008, shall receive two (2) normal workweeks of vacation, to be taken as leave with pay or pay or, at the employee's ’s option. The , the employee shall receive compensation for two (2) normal workweeks workweeks, accrued at the employee's ’s regular hourly rate of pay. The employee must exercise this option within with each fiscal year. Computations year (computations will be based on the employee's ’s hourly rate of pay at the time of the request). This The benefit cannot be carried forward into the next fiscal year. An employee will not be available to any person who eligible for this benefit if the employee has not been employed by the County for at least one year unless the person has completed their trial service period of employment prior to the end of the fiscal year. If an eligible employee elects to receive the credits as pay, it must be paid in increments equal to one (1) workweek. No partial pay (less than one (1) workweek) is allowed. If an An eligible employee elects to receive may schedule the credits as vacation, it may be scheduled vacation portion of the benefit one (1) day at a time or as a unit, subject to the approval of the department head. If an employee has compensation credits remaining in June (at the end of the fiscal year), the employee may request payment for the balance. The employee must include the remaining compensation credit hours on a timecard during a pay period that will result in a paycheck dated no later than the end of the fiscal year in which the compensation credit was accrued. This benefit is to be used by the employee based on the individual’s their employment status as of July 1 of each fiscal yearat the time the request is made. If Payments or time off will be prorated based on the employee completes their employee’s work status. Employees completing trial service period prior to the end of the fiscal year, the year will have their benefit will be prorated for that period between the employee's continuous service date and the end of the County's fiscal year. Employees hired on or after July 1, 2008, will not receive compensation credits. In lieu of receiving compensation credits, new employees will receive a higher rate of pay generated by rolling the value of the compensation credits (3.84%) into the base rate of payJune 30th.