Holiday Pay Option Sample Clauses

Holiday Pay Option. In June of each year, and in lieu of time off for accrued holiday hours, the City will buy back from each employee a maximum of 30 holiday hours. All other holiday hours accrued shall be used in the fiscal year earned. Time off for accrued holiday leave shall be granted at the discretion of the concerned department head. Holiday leave not used or sold back to the City in the year it is earned will be forfeited.
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Holiday Pay Option. On the last day of last full pay period in June of each year, and in lieu of time off for accrued holiday hours, the City will buy back from each shift employee up to 78.65 accrued holiday hours from the holiday accrued bank at the employee’s hourly rate of pay in effect at the time of the buyback. In addition, each employee may request payment for the remaining holiday accrual balance, up to 78.65 holiday hours, at the discretion of the City Manager. Time off for accrued holiday leave shall be granted at the discretion of the department head. Holiday leave not used or sold back to the City in the year it is earned will be forfeited.
Holiday Pay Option 

Related to Holiday Pay Option

  • Compensation for Work on a Holiday (a) Where an Employee is regularly scheduled to work, in accordance with Article 14, and their regularly scheduled day of work falls on a paid holiday, as defined in Article 18.01, they shall receive compensation equal to two and one-half (2 ½) times their regular rate of pay as follows: (i) compensation at one and one-half (1½) times their regular rate of pay, including the holiday pay, for the hours worked on the holiday; and (ii) time off with pay in lieu of the holiday on an hour-for-hour basis at a mutually acceptable time in accordance with Article 18.11. (b) Where time off with pay in lieu of the holiday has not been granted in accordance with Article 18.05(a)(ii), compensation shall be granted at the Employee’s regular rate of pay for those hours worked on the holiday.

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