Conversion of Banked Time. Employees may request conversion of banked time to cash at any time during the year. Such conversion shall be granted subject to the availability of budgeted funds. Such compensation shall be paid at the regular rate at the time such payment is made. It will not be made during any period in which the regular rate is increased due to special compensation (e.g., non-regularly assigned bonus). No employee shall lose banked time under any circumstances.
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
