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Employee Initiated Cashing Out of Accrued Annual Leave Sample Clauses

Employee Initiated Cashing Out of Accrued Annual Leave. (a) The parties agree on the importance of employees taking annual leave for the purposes of rest and recreation. (b) This clause, however, recognises that notwithstanding the importance of leave referred to in subclause (a) some employees may have excess and overdue annual leave. This clause at the initiative of the employee provides for employees to receive payment in lieu of some of their unutilised accrued annual leave. (i) Subject to subclause (d), the employer and employee may agree that the employee forego part of the employee’s entitlement to accrued annual leave in exchange for equivalent payment at the rate which would have applied had the leave been taken at the time the agreement is made. (ii) The payment includes applicable annual leave loading in accordance with clause 16.12 of this Agreement. (d) The following criteria shall apply to the cashing out of accrued annual leave: (i) The employee initiates a written request, to their employer, to cash out accrued annual leave; (ii) the employer agrees in writing to the request by the employee; (iii) there is an annual leave entitlement that has accrued in previous years; (iv) no more than 50% of the employee’s total accrued annual leave entitlement can be cashed out; (v) the remaining entitlements are not less than two weeks accrued annual leave; (vi) each instance of cashing out of annual leave must be a separate written agreement between the employer and employee; and (vii) annual leave accruing in the year the request for cashing out is made cannot be cashed out in that year. (e) It is the employee’s responsibility to seek information on any taxation implications arising from the payout of annual leave.

Related to Employee Initiated Cashing Out of Accrued Annual Leave

  • Cashing out annual leave The employee may, with the agreement of the employer, request in writing, to cash out up to two weeks of their annual leave during each 12 month period. Annual leave cannot be cashed out in advance of it being credited to the employee. Cashed out annual leave will be paid at the rate of pay that the employee receives at the time when the request is made.

  • Cashing out of Annual Leave (a) Paid Annual Leave must not be cashed out except in accordance with an agreement under clause 41.8. (b) Each cashing out of a particular amount of paid Annual Leave must be the subject of a separate agreement under clause 41.8. (c) The Employer and an Employee may agree in writing to the cashing out of a particular amount of accrued paid Annual Leave by the Employee. An agreement this clause must state: (i) the amount of Annual Leave to be cashed out and the payment to be made; and (ii) the date on which the payment is to be made. (d) An agreement under clause 41.8 must be signed by the Employer and Employee and, if the Employee is under 18 years of age, by the Employee’s parent or guardian. (e) The payment must not be less than the amount that would have been payable had the Employee taken the Annual Leave at the time the payment is made. (f) An agreement must not result in the Employee’s remaining accrued entitlement to paid Annual Leave being less than four (4) weeks. (g) The Employer must keep a copy of any agreement under clause 41.8 as an Employee record.

  • Accrued Salary and Paid Time Off On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

  • Entitlement to Annual Leave For each year of service with the Employer a full-time or part-time Employee is entitled to four (4) weeks of paid annual leave.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Sick Leave Annual Cash Out ‌ Each January, employees are eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: A. Their sick leave balance at the end of the previous calendar year exceeds four hundred and eighty (480) hours; B. The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred and eighty (480) hours; and C. They notify their payroll office by January 31st that they would like to convert their sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.