Common use of Payment of PTO Clause in Contracts

Payment of PTO. PTO will be paid at the time of use at the nurse’s regular wage rate, which includes shift differential the nurse would have received if he or she had worked the shift(s). All accrued but unused PTO will be paid upon termination at the nurse’s straight time rate of pay. A nurse may also elect, on an irrevocable basis during open enrollment of the preceding year, to cash out PTO up to the number of PTO hours the nurse is anticipated to accrue during the calendar year. Such cash out will be paid at any time after the PTO to be cashed out has accrued during the calendar year.