Common use of Optional Payment Method Clause in Contracts

Optional Payment Method. Payment shall be made for the lesser of: the number of hours indicated by the employee on his/her election form or the number of unused sick leave hours earned during the Accrual Year, with regard to an Eligible Employee who: 1. has elected to receive payment under the optional method; and 2. as of December 31 of the Accrual Year, has accumulated at least seven hundred twenty (720) hours of sick leave but has not accumulated enough aggregate hours to receive payment for all of the hours he/she accrued during the Accrual Year at the rate specified in subparagraph ii. or iii., above. The amount of the payment under the Optional Method shall be based on the percentage of the employee’s regular hourly rate that would apply to all of the hours for which the employee is to be paid (namely, the next lower rate than that for which the employee was otherwise qualified).

Optional Payment Method. Payment shall be made for the lesser of: the number of hours indicated by the employee on his/her their election form or the number of unused sick leave hours earned during the Accrual Year, with regard to an Eligible Employee who: 1. has elected to receive payment under the optional method; and 2. as of December 31 of the Accrual Year, has accumulated at least seven hundred twenty (720) hours of sick leave but has not accumulated enough aggregate hours to receive payment for all of the hours he/she they accrued during the Accrual Year at the rate specified in subparagraph ii. or iii., above. The amount of the payment under the Optional Method shall be based on the percentage of the employee’s regular hourly rate that would apply to all of the hours for which the employee is to be paid (namely, the next lower rate than that for which the employee was otherwise qualified).

Optional Payment Method. Payment shall be made for the lesser of: the number of hours indicated by the employee on his/her their election form or the number of unused sick leave hours earned during the Accrual Year, with regard to an Eligible Employee who: 1. has elected to receive payment under the optional method; and 2. as of December 31 of the Accrual Year, has accumulated at least seven hundred twenty (720) hours of sick leave but has not accumulated enough aggregate hours to receive payment for all of the hours he/she they accrued during the Accrual Year at the rate specified in subparagraph ii. or iii., above. The amount of the payment under the Optional Method shall be based on the percentage of the employee’s regular hourly rate that would apply to all of the hours for which the employee is to be paid (namely, the next lower rate than that for which the employee was otherwise qualified).otherwise

Optional Payment Method. Payment shall be made for the lesser of: the number of hours indicated by the employee on his/her election form or the number of unused sick leave hours earned during the Accrual Year, with regard to an Eligible Employee who: 1. has elected to receive payment under the optional method; and 2. as of December 31 of the Accrual Year, has accumulated at least seven hundred twenty (720) hours of sick leave but has not accumulated enough aggregate hours to receive payment for all hours to receive payment for all of the hours he/she accrued during the Accrual Year year at the rate specified in the subparagraph ii. ii or iii., iii above. The amount of the payment under the Optional Method shall be based on the percentage of the employee’s regular hourly rate that would apply to all of the hours for which the employee is to be paid (namely, the next lower rate than that for which the employee was otherwise qualified).