Compensatory Time Payment. Employees with twelve (12) years or more seniority shall be afforded the ability to receive a cash payment or cash out of up to twenty percent (20%) of the employee's accrued compensatory time. Employees with less than twelve (12) years shall be afforded the ability to receive a cash payment or cash out of up to fifteen percent (15%). Such request will only be considered on an annual basis and must be submitted in writing to the office of the Chief of Police by November 1 of the calendar year preceding the request for conversion. Conversion payments shall be distributed in the form of a bi-weekly pay supplement during the year following the payment request.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement