Common use of Compensation Credits Clause in Contracts

Compensation Credits. Each employee shall receive eighty (80) hours of leave, to be taken as leave with pay or, at the employee's option shall receive compensation for eighty (80) hours accrued at the employee's regular rate of pay. The employee must exercise this option each fiscal year (computations will be based on the employee's pay at the time of the request). The benefit cannot be carried forward into the next fiscal year. An employee will not be eligible for this benefit if the employee has not completed his/her trial service period 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 forty

Compensation Credits. Each employee shall receive eighty (80) hours of leave, to be taken as leave with pay or, at the employee's option shall receive compensation for eighty (80) hours accrued at the employee's regular rate of pay. The employee must exercise this option each fiscal year (computations will be based on the employee's pay at the time of the request). The benefit cannot be carried forward into the next fiscal year. An employee will not be eligible for this benefit if the employee has not completed his/her their trial service period 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 forty