Common use of PAID TIME OFF LEAVE CASH-OUT Clause in Contracts

PAID TIME OFF LEAVE CASH-OUT. Up to two (2) times per calendar year, employees may convert a portion of accrued paid time off balance to cash, provided there is an availability of funds. Conversion to cash is at the pay rate for any paid personal time off, is a minimum of ten (10) hours and a maximum of eighty (80) hours per calendar year. Requests for conversion to cash must be in writing signed by the employee and approved by the supervisor.