– LONGEVITY VACATION OR PAY Sample Clauses

– LONGEVITY VACATION OR PAY. All employees upon completion of ten (10) years of service with the Employer, shall become eligible for a total of five (5) longevity vacation days (forty [40] hours) on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these five (5) longevity vacation days. The investment option will be net of any applicable payroll tax (i.e., Medicare). In addition, the employee investment shall not be eligible for an employer match. Cash payment shall be at the regular rate of pay. Furthermore, all employees, upon completion of fifteen (15) years of service with the Employer, shall become eligible for an additional five (5) longevity vacation days for a total of ten (10) longevity vacation days (eighty [80] hours) on their anniversary date. Employees will then be given the option to keep, receive cash payment or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these ten (10) longevity vacation days. The investment option will be net of any applicable payroll tax (i.e. Medicare). In addition, the employee contribution shall not be eligible for an employer match. Cash payment shall be at the regular rate of pay. Longevity vacation shall not be cumulative from year to year. Employees will be provided with a selection form each year in order to advise the Human Resources Director of their option. Cash payment will be made on the first pay period beginning after the anniversary date. Employees will be eligible each year for the above days beginning with their 10 year anniversary date and will schedule the additional days as outlined in Section 22.5 above. Effective January 1, 1996, employees with 20 years of service will be granted eight (8) hours, being one (1) additional vacation day.
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– LONGEVITY VACATION OR PAY. All employees upon completion of ten (10) years of service with the Employer, shall become eligible for a total of five (5) longevity vacation days on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these five (5) longevity vacation days. This investment option will be net of any applicable payroll tax (i.e. Medicare). Cash payment shall be at the regular rate of pay. Furthermore, all employees, upon completion of fifteen (15) years of service with the Employer, shall become eligible for an additional five (5) longevity vacation days for a total of ten (10) longevity vacation days on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these ten (10) longevity vacation days. This investment option will be net of any applicable payroll tax (i.e. Medicare). Cash payment shall be at the regular rate of pay. Longevity vacation shall not be cumulative from year to year. Employees will be provided with a selection form each year in order to advise the Human Resources Director of their option. Cash payment and/or investment will be made on the first pay period beginning after the anniversary date. Employees will be eligible each year for the above days beginning with their ten (10) year anniversary date and will schedule the additional days as outlined in Section 3-3.3. Any excess days beyond the thirty (30) days authorized accumulation caused as a result of longevity vacation may only be carried over to the employee's next anniversary date.
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– LONGEVITY VACATION OR PAY. All employees, upon completion of ten (10) years of service with the Employer, shall become eligible for a total of five (5) longevity vacation days on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these five (5) longevity vacation days. This investment option will be net of any applicable payroll tax (i.e. Medicare). Cash payment shall be at the regular rate of pay. Furthermore, all employees, on upon completion of fifteen (15) years of service with the Employer, shall become eligible for an additional five (5) longevity vacation days for a total of ten
Sample 1Sample 2
– LONGEVITY VACATION OR PAY. All employees, upon completion of ten (10) years of service with the Employer, shall become eligible for a total of thirty-seven and one-half (37 1/2) longevity vacation hours on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these thirty-seven and one-half (37 1/2) longevity vacation hours. This investment option will be net of any applicable payroll tax (i.e. Medicare). Cash payment shall be at the regular rate of pay. Furthermore, all employees, on upon completion of fifteen (15) years of service with the Employer, shall become eligible for an additional thirty-seven and one-half (37 1/2) longevity vacation hours for a total of seventy-five (75) longevity vacation hours on their anniversary date. Employees will then be given the option to keep, receive cash payment for or convert the time off to investment in the ICMA Deferred Compensation Program or ICMA Xxxx XXX or a combination of these choices for these seventy-five (75) longevity vacation hours. This investment option will be net of any applicable payroll tax (i.e. Medicare). Cash payment shall be at the regular rate of pay. Longevity vacation shall not be cumulative from year to year. Employees will be provided with a selection form each year in order to advise the Human Resources Director of their option. Cash payment and/or investment will be made on the first pay period beginning after the anniversary date. Employees will be eligible each year for the above days beginning with their ten (10) year anniversary date and will schedule the additional days as outlined in Section 18.2.
Sample 1

Related to – LONGEVITY VACATION OR PAY

  • Earned Vacation Full-time employees, as defined in this article, shall accrue vacation as follows:

  • VACATIONS AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive vacation pay as a percent of the employee's total earnings exclusive of the Employer's contribution to the Union's Pension, Health Benefit Plan, Education and Assistance Fund and Industry Fund. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.

  • Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no longer than the fiscal year immediately following the fiscal year in which it is earned.

  • Weeks Vacation Subject to Article 17.08 and Article 17.01 (a) (ii), employees shall be entitled to take five (5) weeks vacation leave with pay during the first and subsequent complete fiscal years following the date in which they complete fourteen (14) years of service. Such leave shall be earned at the rate of two and one-twelfth (2 1/12) days for each completed calendar month of service.

  • Banked Vacation Once every five years an employee may bank one full year's vacation to be taken in conjunction with the next year's vacation. For the purposes of this clause, all vacation in the second year must be taken concurrently.

  • VACATION AND VACATION PAY 9.01 All employees who are covered under this Agreement shall receive vacation pay as a percent of the employee's total earnings exclusive of the Employer's contribution to the Union's Benefit Plan. Income tax shall be deducted weekly from the employee's earnings increased by the amount of vacation pay.

  • Annual Vacation Pay Vacation pay shall be paid at the regular hourly rate of the Nurse in effect immediately prior to the Nurse taking vacation.

  • Annual Vacation Auxiliary employees will be entitled to receive annual vacation at the rate of four percent (4%) of their regular earnings. After one thousand (1,000) days worked, auxiliary employees will be entitled to receive annual vacation at the rate of six percent (6%) of their regular earnings.

  • Part-time Vacation Pay If the Employer currently has the computer systems’ capability to implement bi- weekly vacation pay, they shall do so by the start of the next vacation year or earlier. Those Employers with no computer capability will endeavour to implement bi- weekly vacation pay if there is no significant administrative burden, by the start of the next vacation year or earlier. If the Employer does not so implement, it will provide reasons in writing to the Union. Where possible without extensive programming changes, the amount of vacation pay will be separately identified on the pay stub.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

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