Common use of Non-FLSA Compensatory Time Clause in Contracts

Non-FLSA Compensatory Time. Upon retirement, the Employer shall calculate the value of each officer’s accumulated non- FLSA compensatory time (if any) based on the officer’s rate of pay in effect at the time of retirement. As part of the officer’s legally required final compensation, the Employer will then pay to the officer or his/her estate the value of his/her non-FLSA compensatory time up to yet not exceeding $20,000.00. Any wage increases that are implemented during the term of the Agreement and that are effective prior to the officer’s date of retirement shall be applied retroactively to his/her legally required final compensation paid pursuant to this subsection. On or before March 1 of the first calendar year following the date of the officer’s retirement, the Employer shall pay to the officer or his/her estate the value of his/her remaining non-FLSA compensatory time up to yet not exceeding $15,000.00. If a remainder exists, the Employer shall also pay to the officer or his/her estate one-third of the value of the remainder. On or before March 1 of the second calendar year following the date of the officer’s retirement, the Employer shall pay to the officer or his/her estate the value of his/her remaining non- FLSA compensatory time up to yet not exceeding $15,000.00. If a remainder exists, the Employer shall also pay to the officer or his/her estate one-half of the value of the remainder. On or before March 1 of the third calendar year following the date of the officer’s retirement, the Employer shall pay to the officer or his/her estate the value of any and all remaining non-FLSA compensatory time.

Non-FLSA Compensatory Time. Upon retirement, the Employer shall calculate the value of each officer’s 's accumulated non- non-FLSA compensatory time (if any) based on the officer’s 's rate of pay in effect at the time of retirement. As part of the officer’s 's legally required final compensation, the Employer will then pay to the officer or his/her estate the value of his/her non-FLSA compensatory time up to yet not exceeding $20,000.00. Any wage increases that are implemented during the term of the Agreement and that are effective prior to the officer’s 's date of retirement shall be applied retroactively to his/her legally required final compensation paid pursuant to this subsection. On or before March 1 of the first calendar year following the date of the officer’s 's retirement, the Employer shall pay to the officer or his/her estate the value of his/her remaining non-FLSA compensatory time up to yet not exceeding $15,000.00. If a remainder exists, the Employer shall also pay to the officer or his/her estate one-third of the value of the remainder. On or before March 1 of the second calendar year following the date of the officer’s 's retirement, the Employer shall pay to the officer or his/her estate the value of his/her remaining non- non-FLSA compensatory time up to yet not exceeding $15,000.00. If a remainder exists, the Employer shall also pay to the officer or his/her estate one-half of the value of the remainder. On or before March 1 of the third calendar year following the date of the officer’s 's retirement, the Employer shall pay to the officer or his/her estate the value of any and all remaining non-FLSA compensatory time.