Payment for Earned Vacation Sample Clauses

Payment for Earned Vacation. A. Date of Payment Upon qualification, the employee can submit for vacation pay within one year. Vacation pay will be issued 2 pay periods after the employee submits a vacation time card. Vacation pay requests may be made any time after the employee’s anniversary date up to a period of one year.
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Payment for Earned Vacation. A. Cash Out and Rate of Pay Employees may elect to be compensated in cash for their unused vacation. Employers will only cash out employees’ vacation when the employee has made an affirmative election for such payment. Vacation time, when used throughout the year, will be paid to the employee on his/her next paycheck following usage, and will be paid at the rate of pay in effect that the time of payment. Cash out of vacation pay is to be paid the second payday after the pay period of the employee's anniversary date of hire at the rate of pay in effect at the time of payment.
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Payment for Earned Vacation. Each Seller shall pay to Purchaser by wire transfer of immediately available funds to an account designated by Purchaser, its pro rata share of the value, as of Closing, equal to ninety percent (90%) of all estimated earned vacation pay of all employees of Sellers who accept employment to continue working at the Facilities after Closing ("TRANSITIONED EMPLOYEES") as set forth on Schedule 4.16 attached hereto (the "ESTIMATED EARNED VACATION AMOUNT") in accordance with Sellers' employee benefit plans and policies in effect as of the Effective Date. Thirty (30) days following the Effective Date, Sellers shall pay the difference between the Estimated Earned Vacation Amount and the actual amount of all earned vacation pay in respect of Transitioned Employees plus any amounts due in respect of taxes that may be payable on the actual amount of earned vacation pay (together with the Estimated Earned Vacation Amount, the "EARNED VACATION AMOUNT"). Sellers shall deliver to Purchaser an updated schedule on or before Closing which shall include all earned vacation pay as of the Closing Date.
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Related to Payment for Earned Vacation

  • Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no longer than the fiscal year immediately following the fiscal year in which it is earned.

  • Annual Vacation Auxiliary employees will be entitled to receive annual vacation at the rate of four percent (4%) of their regular earnings. After one thousand (1,000) days worked, auxiliary employees will be entitled to receive annual vacation at the rate of six percent (6%) of their regular earnings.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Base Salary and Incentive Compensation Executive’s initial annual base salary shall be three hundred nine thousand dollars ($309,000). Executive’s base salary shall be redetermined annually by the Board or a Committee thereof. The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in substantially equal installments on a bi-weekly or more frequent basis. In addition to Base Salary, Executive shall be eligible to receive cash incentive compensation as determined by the Board or a Committee thereof from time to time, and shall also be eligible to participate in such incentive compensation plans as the Board or a Committee thereof shall determine from time to time for employees of the same status within the hierarchy of the Company.

  • Reimbursement for Expenses Consultant shall not be reimbursed for any expenses unless authorized in writing by City.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

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