Common use of Pay Option Clause in Contracts

Pay Option. An employee may cash out all or a portion of their CTO hours, in their CTO bank, during the last full payroll period in June and by the last full payroll period in December. In addition, at the sole discretion of the General Manager, the General Manager may, at any time during the fiscal year, authorize a CTO cash payout to an employee experiencing a severe financial hardship.

Pay Option. An employee may cash out all or a portion of their his/her CTO hours, in their his/her CTO bank, during the last full payroll period in June and by the last full payroll period in December. In addition, at the sole discretion of the General Manager, the General Manager may, at any time during the fiscal year, authorize a CTO cash payout to an employee experiencing a severe financial hardship.