Holiday Proration. Regular and trial status part-time bargaining unit employees shall receive prorated holidays on a percentage of hours actually worked basis. Holiday pay shall not exceed eight (8) hours per holiday for all employees.
Holiday Proration Sample Clauses
Related to Holiday Proration
Proration (a) The allocation of rights to receive the Cash Consideration and the Stock Consideration among Holders will be made as set forth in this Section 2.2(a) (with the Exchange Agent to determine, consistent with Section 2.3(c), whether fractions of Cash Election Shares, Stock Election Shares or Non-Election Shares, as applicable, shall be rounded up or down). (i) If the Stock Election Number exceeds the Stock Conversion Number, then all Cash Election Shares and all Non-Election Shares shall be converted into the right to receive the Cash Consideration and, subject to Section 2.5(f) hereof, each holder of Stock Election Shares will be entitled to receive the Stock Consideration in respect of that number of Stock Election Shares held by such holder equal to the product obtained by multiplying (x) the number of Stock Election Shares held by such holder by (y) a fraction, the numerator of which is the Stock Conversion Number and the denominator of which is the Stock Election Number, with the remaining number of such holder’s Stock Election Shares being converted into the right to receive the Cash Consideration; and (ii) If the Stock Election Number is less than the Stock Conversion Number (the amount by which the Stock Conversion Number exceeds the Stock Election Number being referred to herein as the “Shortfall Number”), then all Stock Election Shares shall be converted into the right to receive the Stock Consideration and the Non-Election Shares and the Cash Election Shares shall be treated in the following manner: (A) If the Shortfall Number is less than or equal to the number of Non-Election Shares, then all Cash Election Shares shall be converted into the right to receive the Cash Consideration and, subject to Section 2.5(f) hereof, each holder of Non-Election Shares shall receive the Stock Consideration in respect of that number of Non-Election Shares held by such holder equal to the product obtained by multiplying (x) the number of Non-Election Shares held by such holder by (y) a fraction, the numerator of which is the Shortfall Number and the denominator of which is the total number of Non-Election Shares, with the remaining number of such holder’s Non-Election Shares being converted into the right to receive the Cash Consideration; or (B) If the Shortfall Number exceeds the number of Non-Election Shares, then all Non-Election Shares shall be converted into the right to receive the Stock Consideration and, subject to Section 2.5(f) hereof, each holder of Cash Election Shares shall receive the Stock Consideration in respect of that number of Cash Election Shares equal to the product obtained by multiplying (x) the number of Cash Election Shares held by such holder by (y) a fraction, the numerator of which is the amount by which (1) the Shortfall Number exceeds (2) the total number of Non-Election Shares, and the denominator of which is the total number of Cash Election Shares, with the remaining number of such holder’s Cash Election Shares being converted into the right to receive the Cash Consideration.
Holiday Pay A. On each of the holidays designated above, each full-time employee scheduled to work but permitted to take the day off shall receive pay computed at the employee's basic hourly rate for the number of hours the employee was regularly scheduled to work. B. On each of the holidays designated above, each part-time employee scheduled to work but permitted to take the day off shall receive pay computed at the employee’s basic hourly rate for the number of hours the employee was regularly scheduled to work.
PRORATION PERIOD The Tenant: (check one)
Holiday Paid See ( 5, 6, 8, 13, 25 ) on HOLIDAY PAGE plus Governor of NYS Election Day. Overtime See ( 5, 6, 8, 13, 25 ) on HOLIDAY PAGE plus Governor of NYS Election Day.
Holiday Coinciding with a Day of Vacation Where an employee is on vacation leave and a day of paid holiday falls within that period, the paid holiday shall not count as a day of vacation.
Prorations The following shall be prorated between Buyer and Seller as of 11:59 p.m. local time of the day immediately preceding the Closing Date, on the basis of the actual number of days elapsed during the month in which the Closing occurs: general and special county and city real property taxes and special assessments (collectively, "Taxes") for the tax period then in effect and insurance premiums (but only if Buyer is assuming Seller's insurance policy or policies). Proration of Taxes shall be based on the most recent official tax bills or notice of valuation available for the fiscal year in which the Closing occurs, with due allowance to be made for the maximum available discount or other exemptions to the extent permissible for said year, and to the extent the tax bills do not accurately reflect the actual Taxes assessed against the Property (or any portion of the Property) and allocable either to the period before the Closing or to the period after the Closing, then Buyer and Seller shall adjust the actual Taxes between Buyer and Seller, outside of Escrow, as soon as reasonably possible following the Closing. In addition to the foregoing apportionments, Seller shall receive all rents and other income accrued, and shall pay all other expenses accrued or incurred, in connection with the ownership or operation of Property before the Closing Date, and Buyer shall receive all rents and other income accruing, and shall pay all other expenses accrued or incurred, in connection with the ownership or operation of Property on or after the Closing Date, all of which rents, other income and expenses shall be prorated as of the Closing. Rents and other income, if any, collected by Buyer after the Closing shall be applied first to any amounts due to Buyer and then, to the extent such rents or other income relate to the period ending on or before the Closing, such rents or other income shall be paid to Seller within ten (10) days after end of the month in which such amounts were collected. Buyer shall incur no obligation to Seller for Buyer's failure to collect such rentals or other income. All security and any other refundable deposits paid by tenants to Seller pursuant to tenant leases shall be delivered by certified funds to Buyer at the Closing or, at Seller's option, credited to Buyer against the cash portion of the Purchase Price at the Closing. Escrow Holder shall not be concerned with any prorations that are to be made after the Closing pursuant to this Agreement.
Holiday Compensation Compensation for each paid holiday day not taken out is 4.6 % of the current monthly salary and holiday supplement according to 9.4.1 and 9.4.
Sunday Premium Any employee who is required to work at any time on a Sunday shall be paid a Sunday premium in addition to their regular hourly rate of pay in the amount of seventy-five (75¢) cents per hour, for each such hour and portion of an hour worked. Sunday premium pay shall not be added to an employee's hourly rate of pay for the purpose of computing overtime. The provisions of this Article shall not apply to the “in charge” employees referred to in sub-articles 23.03 and 23.04 of this Agreement.
Holiday Work Employees who work on a holiday shall receive one and one-half (1-1/2) times their straight time regular rate of pay for all hours actually worked on the holiday, plus holiday pay.
Holiday Leave Holiday leave provisions shall be as noted below: 9.9.1 Employees in the bargaining unit shall be entitled to the following holidays with pay providing the employee is in a paid status the immediate work day before or the immediate work day following such holiday: New Year’s Day Xxxxxx Xxxxxx Xxxx’x Birthday Xxxxxxx’s Birthday Washington’s Birthday Native American Day Memorial Day Independence Day Labor Day Veterans Day Thanksgiving Day Day after Thanksgiving Day before Christmas Christmas Day December 31 9.9.2 Regular employees of the District who are not normally assigned to duty during the school holidays during Christmas recess shall be paid for those holidays received by regular classified employees provided they were in a paid status during any portion of the working day of their normal assignment immediately preceding or succeeding the holiday period. 9.9.3 It is agreed by the parties that there shall be five (5) additional Board granted local classified holidays each fiscal year of this contract that will be granted during the holiday recess period for all classified employees. 9.9.4 It is agreed that certain positions or classes within the Police, Payroll and Information Technology Services may be required, due to business necessity, to perform services on Board holidays during the Christmas recess period. The District shall notify the Union by November 1, concerning the positions, classes and individuals affected. Any employee required to work on such holidays shall be compensated at the overtime rate of time and one-half (1.5) in addition to his/her regular salary. 9.9.5 When a holiday falls on a Sunday, the succeeding workday not a holiday shall be deemed to be a holiday in lieu of the day observed. When a holiday falls on a Saturday, the preceding workday not a holiday shall be deemed to be the holiday in lieu of the day observed. 9.9.6 Should a holiday as enumerated above or any other day designated by the Governing Board as a public holiday occur while an employee is absent from work because of sick leave, vacation, or any other paid leave of absence, the holiday shall be considered as time worked and shall not be deducted from his/her other paid leave of absence. 9.9.7 Employees shall be entitled to the same number of holidays, regardless of whether they work Monday through Friday or some other shift. 9.9.8 An employee required by his/her supervisor to work on a holiday shall receive time and a half in addition to his/her regular day’s pay for work on the holiday. If the employee does work and is paid overtime for working on a holiday, he/she shall not receive an additional day off. 9.9.9 Where a holiday falls on a non-work day for an employee in the classification of Police Services Officer, that employee will be paid time and one-half in addition to regular salary for the first non-holiday workday following the holiday. That day will be designated as the alternate holiday on the employee’s monthly absence report, and he/she shall not receive an additional day off. 9.9.10 Where a holiday falls on a non-work day for a classified employee, the employee will be given time off in-lieu of the holiday at the same ratio as their work schedule bears to full-time employees, within the same pay period (currently calendar month). The in-lieu time off may be before or after the actual holiday. If, due to business reasons, it is not possible to schedule the in-lieu time off within the same pay period, the in-lieu time off may be taken no later than the next pay period (currently calendar month). Such arrangement must be with the concurrence of the employee and the supervisor. The amount of in-lieu time the employee is to be given will be the ratio of the employee’s total work schedule to the hours given a full-time employee. The actual shift hours and/or days the employee works is irrelevant for calculating in-lieu time off. Example 1 An employee works 50% time (20 hours per week), with shifts of Monday – Thursday 5 hours each day. The employee will be granted 4 hours of holiday in-lieu time for each holiday that falls on a Friday. This is calculated by multiplying the percent of time worked (or FTE) by 8 hours for the holiday. 50% X 8 hours = 4 hours Example 2 – An employee works 60% time (24 hours per week), with shifts of Monday and Friday 8 hours each day, and Tuesday and Wednesday 4 hours each day. The employee will be granted 4.8 hours of holiday in-lieu time for each holiday that falls on a Thursday. This is calculated by multiplying the percent of time worked (or FTE) by 8 hours for the holiday. 60% X 8 hours = 4.8 hours Holiday in-lieu time off may be combined with accrued vacation time to allow for entire shifts off. All holiday in-lieu hours are to be noted on the absence report in the month taken by using the “HL” notation in the appropriate box. 9.9.11 Pay warrants for December will be distributed between 1:00 p.m. and 5:00 p.m. at the locations’ business offices on any regular payday which falls on a day designated for close down, or, which falls on a day other than a legal holiday as specified within the Education Code. 9.9.12 Employees in the classification of Police Services Officer will be required to work on any holiday that falls on a regularly scheduled workday. They will be paid time and one-half in addition to regular salary for all holiday work. If two or more officers regularly work the same day and hours (double coverage), one may elect to observe the holiday. The officer with the highest seniority date electing to observe the holiday will be granted holiday leave. Officers will be permitted to arrange for voluntary substitutes for their holiday shifts from the employees employed as Police Services Officers.
