Common use of Notification of Option Clause in Contracts

Notification of Option. An employee that is eligible and wishes to convert sick leave to cash must notify the appropriate payroll authority before January 10 of the same year the payment is made. Rate of Pay for Sell Back: The payment will be made at the base rate of pay in effect in the last pay period of the benefit year. The pay rate will exclude special assignment pay, shift differential pay, temporary transfer pay, etc. Any employee who uses no more than eight (8) hours of sick leave between pay period 1 and pay period 26 of 2007 and each year thereafter shall receive an 8-hour sick use incentive day, which must be used between pay period 1 and 26 of the following year. This provision shall go into effect PP1 of 2007.

Appears in 4 contracts

Samples: Management Agreement, Agreement, Management Agreement

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