Conversion of Leave Sample Clauses

Conversion of Leave. Leave for catastrophic illness will be available only to employees who have exhausted their own paid leave and compensatory time/leave through bona fide serious illness or accident. Donating employees must sign an authorization, including specifying the specific employee to be a recipient of the donation. Leave transferred will be converted to a dollar value and then converted to hours based on the recipient’s hourly rate e.g., the leave donor’s salary is $6.00 per hour and the recipient’s salary is $12.00 per hour; thus a donor must transfer twice the amount of hours to achieve full conversion. The agency shall not transfer more than the equivalent of 30 of the recipient’s workdays of leave into his/her account at any one time. The agency shall not transfer more donations until this amount is exhausted. All donations remaining in the employee’s catastrophic illness account when the employee’s employment terminates, or when the employee dies, shall be forfeited, and no payout for these forfeited hours shall be made. No more than 1,200 hours of donated leave may be received by an employee during a twelve month period.
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Conversion of Leave. Subject to the approval of the Chief Constable in each instance, once each calendar year an employee may request to convert to cash five (5) days (40 hours) of annual and/or public holiday leave.
Conversion of Leave. 4.7.1 Conversion of accrued leave – All accumulated or accrued leave up to and including 30 June 1990, shall be credited on the basis of a 38 hour week and rates of pay applicable to such leave shall be calculated on the basis of a 38 hour divisor. Consequently credits will be converted as follows:  If in weeks x 38 hours  If in days x 7.6 hours  If in hours x no of hours x 7.6/8
Conversion of Leave. Employees may be allowed to substitute vacation or other accrued leave for sick leave only when the employee makes a written request for reasonable purposes in advance of the use of leave to the Fire Chief for their approval. The substitution of other leaves for sick leave shall not be automatic when all sick leave accrual has been used by the employee. Loss of Accrual: No monthly sick leave shall be accrued by an employee, unless the employee is working or on paid leave status for at least fifty percent (50%) of their budgeted FTE during that pay period, unless otherwise provided by applicable law.
Conversion of Leave. The Parties appreciate the mutual benefits of working together to achieve the Plant’s key performance targets and objectives. In recognition of this, and to encourage the active pursuit of continuous improvement in the Plant’s performance, the Parties have agreed to trial during the life of this Agreement, a Site productivity incentive scheme. On the basis that the Site achieves an absenteeism rate of 2.5% or less averaged across a 12 month period: • employees with more than 40 days accrued sick leave at the designated date may elect to convert up to 2 days of their accrued sick leave into additional available leave; and • employees with more than 80 days accrued sick leave at the designated date may elect to convert up to 4 days of their accrued sick leave into additional available leave. For the purpose of assessing Site performance, the 12 month period will be taken as the Kraft cost year and will commence in January 2005. Following the announcement of the Site’s performance at the conclusion of the 12 month period in December of each year, employees will have until 31 January of the following year to make their election. The designated date for calculating employees’ sick leave balances will be at the conclusion of the Kraft cost year, which is on or around mid December of each year. Upon election, the relevant number of accrued sick days will be converted into TOIL as additional available leave and may be taken and paid in accordance with the usual leave requirements. For part time employees, the calculation of the accrued sick leave to be converted into TOIL will be based upon the employee’s average hours worked over a 12 month period as at the designated date. Leave conversion will not be available in circumstances where the Site target of 2.5% or less absenteeism is not achieved, or where an individual has insufficient accrued sick leave as at the designated date or fails to make an election by 31 January. In the application of this clause, each year will stand alone.
Conversion of Leave. Catastrophic Leave will be available only to employees who have exhausted their own paid leave through bona fide serious illness or accident. Donating employees must sign an authorization, including specifying the specific employee to be a recipient of the donation. Leave transferred will be converted to a dollar value and then converted to hours based on the recipient’s hourly rate e.g., the leave donor’s salary is $6.00 per hour and the recipient’s salary is $12.00 per hour; thus a donor must transfer twice the amount of hours to achieve full conversion. No more than six months of donated leave may be received by an employee during a twelve month period.

Related to Conversion of Leave

  • Casual Conversion (a) A casual employee who has been rostered on a regular and systematic basis over a period of 26 weeks has the right to request conversion to permanent employment:

  • Electronic Check Conversion You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.

  • Conversion Notwithstanding any other provisions of this Declaration or the By-Laws of the Trust, a favorable vote of a majority of the Trustees then in office followed by the favorable vote of the holders of not less than seventy-five percent (75%) of the Shares of each affected class or series outstanding, voting as separate classes or series, shall be required to approve, adopt or authorize an amendment to this Declaration that makes the Shares a "redeemable security" as that term is defined in the 1940 Act, unless such amendment has been approved by 80% of the Trustees, in which case approval by a Majority Shareholder Vote shall be required. Upon the adoption of a proposal to convert the Trust from a "closed-end company" to an "open-end company" as those terms are defined by the 1940 Act and the necessary amendments to this Declaration to permit such a conversion of the Trust's outstanding Shares entitled to vote, the Trust shall, upon complying with any requirements of the 1940 Act and state law, become an "open-end" investment company. Such affirmative vote or consent shall be in addition to the vote or consent of the holders of the Shares otherwise required by law, or any agreement between the Trust and any national securities exchange.

  • Mechanics of Conversion (1) Before any holder of Preferred Shares shall be entitled to convert the same into Ordinary Shares such holder shall surrender the certificate or certificates therefor at the Office and shall give written notice to the Company of the election to convert the same (or any part thereof) and shall state therein the name or names of any nominee for such holder in which the certificate or certificates for shares of Ordinary Shares are to be issued. The Company shall, as soon as practicable thereafter unless such notice states that conversion is to be effective on any later date or when any conditions specified in the notice have been fulfilled in which case conversion shall take effect on such other date or when such conditions have been fulfilled, issue and deliver at such office to such holder of Preferred Shares, or subject to the transfer restrictions contained in these Articles to the nominee or nominees of such holder, a certificate or certificates for the number of shares of Ordinary Shares to which such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Preferred Shares to be converted, or on any later date or when any conditions specified in the notice have been fulfilled and the person or persons entitled to receive the Ordinary Shares issuable upon such conversion shall be treated for all purposes as the record holder or holders of such Ordinary Shares as of such date. If the conversion is in connection with a QIPO, the conversion may, at the option of any holder tendering Preferred Shares for conversion, be conditioned upon the closing with the underwriter of the sale of securities pursuant to such offering, in which event the person(s) entitled to receive the Ordinary Shares issuable upon such conversion of the Preferred Shares shall not be deemed to have converted such Preferred Shares until immediately prior to the closing of such sale of securities. In the event that the certificate(s) representing the Preferred Shares to be converted as aforesaid are not delivered to the Company, then the Company shall not be obligated to issue any certificate(s) representing the Ordinary Shares issued upon such conversion, unless the holder of such Preferred Shares notifies the Company in writing that such certificate(s) have been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such certificates.

  • Sick Leave Conversion On January 1 of each year, an employee may convert up to a maximum of 30 hours accumulated sick leave at fifty percent (50%) cash value for the sole purpose of reimbursing the employee for medical costs. This conversion is subject to the following:

  • Annual Conversion Once per fiscal year, an employee may elect to cash out annual leave in the amount of forty

  • Certificate of Adjustment The Corporation shall from time to time immediately after the occurrence of any event which requires an adjustment or readjustment as provided in Section 4.1, deliver a certificate of the Corporation to the Warrant Agent specifying the nature of the event requiring the same and the amount of the adjustment or readjustment necessitated thereby and setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based, which certificate shall be supported by a certificate of the Corporation’s Auditors verifying such calculation. The Warrant Agent shall rely, and shall be protected in so doing, upon the certificate of the Corporation or of the Corporation’s Auditor and any other document filed by the Corporation pursuant to this Article 4 for all purposes.

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