Compensatory Policy Sample Clauses

Compensatory Policy. At the discretion and request of the division head and/or his/her designee compensatory time off may be accrued and granted to eligible employees, those classified as non-exempt, in accordance with the following: 1) Compensatory time will be provided in the same manner as the monetary payment would have been provided. For example, if an employee works hours in excess of a forty (40) hour work week, compensatory time will be provided at one and one-half hours for each hour in excess of forty. If the employee works hours in excess of his/her scheduled work week but less than forty (40) hours the compensatory time will accrue at the regular rate of pay until forty (40) hours have been worked after which compensatory time shall accrue at one and one-half hours for each hour in excess of forty. 2) A record of compensatory time accrued and used will be maintained for each eligible employee by the immediate supervisor. 3) Payment for accrued compensatory time shall be made only upon termination of employment. Upon termination of employment an employee who has accrued compensatory time off under this policy shall be paid for unused time at the final regular rate of pay.
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Compensatory Policy. At the discretion and request of the division head and/or his/her designee compensatory time off may be accrued and granted to eligible employees, those classified as non-exempt, in accordance with the following: 1) Compensatory time will be provided in the same manner as the monetary payment would have been provided. For example, if an employee works hours in excess of a forty (40) hour work week, compensatory time will be provided at one and one-half hours for each hour in excess of forty. If the employee works hours in excess of his/her scheduled work week but less than forty (40) hours the compensatory time will accrue at the regular rate of pay until forty (40) hours have been worked after which compensatory time shall accrue at one and one-half hours for each hour in excess of forty. 2) Compensatory time will be limited to the number of converted hours necessary for the authorized Winter break shut-down. Employees will be given the opportunity to earn compensatory time for that purpose. 3) A record of compensatory time accrued and used will be maintained for each eligible employee by the immediate supervisor. 4) Payment for accrued compensatory time shall be made only upon termination of employment. Upon termination of employment an employee who has accrued compensatory time off under this policy shall be paid for unused time at the final regular rate of pay.
Sample 1

Related to Compensatory Policy

  • Compensatory Leave At the employee's option, all or part of compensatory leave balances held at the beginning of active military duty may be: 1. applied to the period of absence due to military service; 2. paid as allowed at the time of placement on leave without pay; and/or 3. retained until reinstatement from military leave without pay. Retained compensatory leave will be available for use in accordance with the agreement.

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Compensatory Time Off Utilization of compensatory time off shall be by mutual agreement between the department head and the employee. The smallest increment of compensatory time which may be taken off is six (6) minutes.

  • Compensatory Time A Bargaining Unit member may choose to take compensatory time in lieu of overtime compensation if such choice is indicated during the tour of duty in which the overtime is worked. Compensatory time shall be credited to the Bargaining Unit member and accumulated at the rate of one and one-half (1 ½) hours for each overtime hour worked. Each Bargaining Unit member’s compensatory time bank shall be limited in accumulation to a maximum number of two hundred forty (240) hours. Once a Bargaining Unit member has reached the maximum hours of compensatory time as compensation for overtime hours worked, all additional overtime will be paid. The Bargaining Unit member may choose to carry over any balance into the following year. Any balance of compensatory time carried over into the following year shall count towards the two hundred forty (240) hour cap in that year. Compensatory time off must be taken at a time agreeable to the Department and the Bargaining Unit member. Approval for compensatory time off shall not be unreasonably withheld. Compensatory time off should be requested as far in advance as possible but no later than forty eight (48) hours in advance. When Bargaining Unit members request compensatory time off at least 45 calendar days in advance, the employer will, within five (5) working days of the request being made, notify the member whether or not his/her request has been approved. Approval for compensatory time shall not be unreasonably withheld. As soon as the employer notifies the member that his/her request has been approved, and if the employer determines that the shift will be filled, the employer will post the overtime assignment to cover the member’s request. If there are no volunteers to cover this need for overtime, and if the employer determines that the shift will be filled, a mandate to cover the shift will occur no less than seven (7) calendar days in advance of the beginning of the shift that needs to be covered. The employee being mandated will have the lowest number of overtime hours worked and will be notified by a supervisor. In the event the employee being mandated is on an approved leave and cannot be provided seven

  • Compensation Recovery Policy Executive acknowledges and agrees that, to the extent the Company adopts any claw-back or similar policy pursuant to the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act or otherwise, and any rules and regulations promulgated thereunder, he or she shall take all action necessary or appropriate to comply with such policy (including, without limitation, entering into any further agreements, amendments or policies necessary or appropriate to implement and/or enforce such policy with respect to past, present and future compensation, as appropriate).

  • Compensation and Employee Benefits SECTION 13.01.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Compensation Arrangements (a) Following receipt of an RoU Claim Notice in respect of a Type 2 Restriction of Use, Network Rail and the Train Operator shall (if they have not already done so) commence negotiations in respect of the RoU Direct Costs compensation to be paid by one party to the other in respect of such Type 2 Restriction of Use and, subject to paragraph 10, shall continue such negotiations in good faith until they are concluded. (b) Once the compensation referred to in paragraph 6.1(a) has been agreed or determined (and has been compared against any amounts calculated under paragraph 4 together with any other amounts paid or due to the Train Operator from Network Rail in relation to such Restriction of Use) then, in the event of: (i) a shortfall for the Train Operator, the compensation to be paid by Network Rail to the Train Operator shall be the full amount of the RoU Direct Costs actually incurred by the Train Operator less any amounts calculated under paragraph 4 which have already been paid or are due for such Restriction of Use and any other amounts in respect of any RoU Direct Costs received by the Train Operator from Network Rail in respect of such Restriction of Use; or (ii) an overpayment by Network Rail to the Train Operator, the compensation to be paid by the Train Operator to Network Rail shall be the difference between the amount received by the Train Operator which was calculated under paragraph 4 and the RoU Direct Costs actually incurred by the Train Operator in respect of such Restriction of Use. (c) Network Rail shall include in the statement provided by it in respect of each Period under paragraph 13.1(a) details of the compensation agreed or determined under this paragraph 6 and paragraph 10 to be payable in respect of any Type 2 Restriction of Use taken in that Period and that compensation shall be due and payable by the relevant party to the other in accordance with paragraph 13.1.

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