Common use of Floating Holiday Buy-Out Clause in Contracts

Floating Holiday Buy-Out. An employee may request on the appropriate form from the Payroll Department, to be paid the cash value of some or all of his or her unused Floating Holidays. The calculation of the cash value will be made based upon the employee’s wage rate in effect on the date the employee makes his or her written request for such payment. Floating Holidays may be used, sold back, or carried over into the next calendar year. At no time shall those carried over exceed the maximum of five allotted.

Floating Holiday Buy-Out. An employee may request on the appropriate form from the Payroll Department, to be paid the cash value of some or all of his or her their unused Floating Holidays. The calculation of the cash value will be made based upon the employee’s wage rate in effect on the date the employee makes his or her their written request for such payment. Floating Holidays may be used, sold back, or carried over into the next calendar year. At no time shall those carried over exceed the maximum of five allotted.

Floating Holiday Buy-Out. An employee may request on the appropriate form from the Payroll Departmentby submitting a Wage Adjustment with their time sheet, to be paid the cash value of some or all of his or her unused Floating Holidays. The calculation of the cash value will be made based upon the employee’s wage rate salary in effect on the date the employee makes his or her their written request for such payment. Floating Holidays may be used, sold back, or carried over into the next calendar year. At no time shall those carried over exceed the maximum of five allotted.

Floating Holiday Buy-Out. An employee may request on the appropriate form from the Payroll Departmentby submitting a Wage Adjustment with his or her time sheet, to be paid the cash value of some or all of his or her unused Floating Holidays. The calculation of the cash value will be made based upon the employee’s wage rate salary in effect on the date the employee makes his or her written request for such payment. Floating Holidays may be used, sold back, or carried over into the next calendar year. At no time shall those carried over exceed the maximum of five allotted.