Leave Cash Out Sample Clauses

Leave Cash Out. The maximum amount of leave time (personal leave compensatory time or a combination of both) which can be cashed out under the City's "leave plans" is eighty
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Leave Cash Out. The maximum amount of leave time (personal leave, compensatory time or a combination of both) which can be cashed out under the City's "leave plans" is eighty (80) hours. Employee’s leave time (as mentioned above) may not be reduced to less than eighty (80) hours as a result of participation in the annual leave cash out. (July 2017) The City Manager will annually determine if the City Council’s goal of a 15% general fund fiscal reserve and a 10% infrastructure reserve, as identified in the City Budget, has been achieved. If the above goals have been determined to have been met, the maximum amount of leave time (personal leave, compensatory time or a combination of both), will be increased to one hundred and twenty (120) hours, provided additional general funds are available. (Effective July 2011)
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Leave Cash Out. Exclude Post- OR Severance Compensation composed of leave cash-out. See Section 1.11(I)(1)(b).
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Leave Cash Out. An employee may request to cash out an amount of annual leave. The employer may approve a request to cash out leave only as far as the law permits. Where leave cash out is permitted by law and approved by the employer, the following terms will apply: • there is a separate agreement in writing on each occasion that leave is requested to be cashed out; and • the employee must be paid at least the full amount that would have been payable had the leave been taken; and • In cases of a request to cash out annual leave, the employee must retain an entitlement to at least four weeks paid annual leave
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Leave Cash Out. PBA bargaining unit members agree to limit the amount of leave time (personal leave, compensatory time or a combination of both) which can be cashed out under the City's "leave plans" to a maximum of one-hundred and twenty (120) hours per calendar year. The requested cash out can be made at either or both dates below, via direct deposit, not to exceed the maximum amount listed in this Article per calendar year (July 2021): • On or before July 31st • On or before the second Friday in December Employees’ leave time (as mentioned above) may not be reduced to less than eighty (80) hours as a result of participation in the annual leave cash out. Employees will no longer be required to submit irrevocable deferred compensation election forms prior to July 1. Instead, employees may elect to have future wages placed in deferred compensation upon completion and submission of the appropriate forms to payroll thirty (30) days prior to the requested implementation date. This option will be available throughout the term of this MOU.
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Leave Cash Out. The City agrees to allow separated employees to cash out paid leave as allowable under current CBAs/Personnel Rules.
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Leave Cash Out. Once every fiscal year, the City’s Annual Leave Sell Back Program allows employees who schedule to take off at least 40 hours of consecutive annual leave the option of “selling back” to the City up to 100 hours of annual leave, comp time earned, and/or accrued holiday. Employees can elect to take the “sell back” as cash or work through Human Resources to have the money deposited into their Deferred Compensation account. However, employees must retain a minimum of 160 hours annual leave on the books after deducting the “cash out.” For additional information, reference Annual Leave Sellback Guidelines.
Sample 1
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Leave Cash Out. PBA bargaining unit members agree to limit the amount of leave time (personal leave, compensatory time or a combination of both) which can be cashed out under the City's "leave plans" to a maximum of eighty (80) hours. Employees’ leave time (as mentioned above) may not be reduced to less than eighty (80) hours as a result of participation in the annual leave cash out. The City Manager will annually determine if the City Council’s goal of a 15% general fund fiscal reserve and a 10% infrastructure reserve, as identified in the City Budget, has been achieved. If the above goals have been determined to have been met, the maximum amount of leave time (personal leave, compensatory time or a combination of both), will be increased to one hundred and twenty (120) hours, provided additional general funds are available. (Effective July 2011) Employees will no longer be required to submit irrevocable deferred compensation election forms prior to July 1. Instead, employees may elect to have future wages placed in deferred compensation upon completion and submission of the appropriate forms to payroll thirty (30) days prior to the requested implementation date. This option will be available throughout the term of this MOU. The City will issue checks for Leave Cash Out payments on or before July 31st of each year.
Sample 1

Related to Leave Cash Out

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Cash Out In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’ advance notice to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per Share of Common Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for a Share of Common Stock in connection with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee: 1. Leaves state service for any reason; 2. Transfers to a position in their institution with different funding sources; or 3. Transfers to another state agency or institution.

  • Sick Leave Separation Cash Out At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • 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.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Cash on Hand If it is determined that the cash on hand exceeds actual expenses, work in process, and thirty (30) day projected expenses, less payments not yet received; future payments will be withheld, until cash on hand has been reduced.

  • Sick Leave Buy Back To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award: Employees who utilize two (2) sick leave days or less each assigned school calendar year and year-round employees who utilize three (3) sick leave days or less during each assigned school calendar year - upon request – shall receive payment for up to eight (8) days of sick leave, provided the employee worked the full assigned calendar year.* The following procedures apply to the payment of sick leave under this section. 1. An employee must have a minimum of twenty-five (25) days of accumulated sick leave remaining after the payment for unused sick leave under this section. 2. The payment of this incentive shall be paid to eligible employees no later than October 31st of the school year following the school year in which the employee qualified for the incentive pay. 3. For purposes of this section, sick leave shall be defined pursuant to all sections of F.S.1012.61. 4. Days for which such award payment is received shall be deducted from the accumulated leave balance. 5. Payment shall be equal to the number of eligible days times the affected employees daily rate of base pay times eighty percent (80%).

  • Asset Dispositions, etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, transfer, contribute or otherwise convey, or grant options, warrants or other rights with respect to, all or substantially all of the assets of (a) the Borrower or (b) the Subsidiaries of the Borrower, taken as a whole, except sales of assets between or among the Borrower and Subsidiaries of the Borrower.

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