Optional Cash Out of PTO Sample Clauses

Optional Cash Out of PTO. Once an employee has completed two (2) years of service with the Employer, the employee has the option of “cashing out” up to half of their earned PTO accrual at fifty percent (50%) of the value based on the employee’s regular hourly rate. Once an employee has completed four (4) years of service with the Employer, the employee has the option of “cashing out” up to half of their earned PTO accrual at seventy-five percent (75%) of the value based on the employee’s regular hourly rate. Once an employee has competed six (6) years of service with the Employer, the employee has the option of “cashing out” up to half of their earned PTO accrual at one hundred percent (100%) of the value based on the employee’s regular hourly rate. Only full-time, non-exempt hourly employees are eligible to cash-out PTO balances. An employee shall exercise this cash out option no more than twice a year in minimum increments of eight (8) hours. For example: if an employee chooses to cash out fifty (50) hours of PTO, after two (2) years of service and the employee earns twelve dollars ($12.00) an hour, the employee would be paid for the fifty (50) hours at six dollars ($6.00) for each hour, or three hundred dollars ($300.00). Any cashing out of PTO hours will be processed in the Employer’s next scheduled payroll. Exceptions must be approved by the Employer in writing.
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Related to Optional Cash Out of PTO

  • Treatment of Unallowable Costs Previously Submitted for Payment Defendants further agree that within 90 days of the Effective Date of this Agreement they shall identify to applicable Medicare and TRICARE fiscal intermediaries, carriers, and/or contractors, and Medicaid and FEHBP fiscal agents, any Unallowable Costs (as defined in this paragraph) included in payments previously sought from the United States, or any State Medicaid program, including, but not limited to, payments sought in any cost reports, cost statements, information reports, or payment requests already submitted by Defendants or any of their subsidiaries or affiliates, and shall request, and agree, that such cost reports, cost statements, information reports, or payment requests, even if already settled, be adjusted to account for the effect of the inclusion of the Unallowable Costs. Defendants agree that the United States, at a minimum, shall be entitled to recoup from Defendants any overpayment plus applicable interest and penalties as a result of the inclusion of such Unallowable Costs on previously-submitted cost reports, information reports, cost statements, or requests for payment. Any payments due after the adjustments have been made shall be paid to the United States pursuant to the direction of the Department of Justice and/or the affected agencies. The United States reserves its rights to disagree with any calculations submitted by Defendants or any of their subsidiaries or affiliates on the effect of inclusion of Unallowable Costs (as defined in this paragraph) on Defendants or any of their subsidiaries or affiliates’ cost reports, cost statements, or information reports.

  • Total Payments to Other Dist & Govt Units Tuition (In State) 2500 2600 2600 2900 2000 3000 4000 4100 4200 4300 4000 5000 5100 5200 5000 6000

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

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