Payoff of Paid Time Off Sample Clauses

Payoff of Paid Time Off. (PTO)‌ Any accrued PTO that is not used during the academic year in which it was accrued, will be paid out to the Resident as earned PTO at the end of each academic year, except in the case of a Resident’s third year, in which case the PTO will be paid out upon termination in the event the Resident’s academic year is extended. During any extension of a Resident’s academic year, the Resident will retain access to and the use of any accrued and unused PTO, subject to the parameters of the Residency Program. However, if a Resident leaves the program and terminates employment in the first six months of their 1st year, PTO will be paid out at 50% of the Resident’s PTO balance. Each Resident who separates from Hospital service for any reason shall be entitled to payment of the monetary equivalent of 100% of all unused PTO remaining to such Resident’s credit at the time of separation, computed on the basis of such employee’s base hourly rate, except as noted above. An employee’s beneficiary shall be entitled to payment of the monetary equivalent of 100% of all unused PTO due to death.
Sample 1
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Related to Payoff of Paid Time Off

  • Paid Time Off (PTO) During the Term, Executive shall be entitled to paid time off in accordance with Company’s policy in place from time to time; provided, however, that Executive shall be eligible to accrue no less than twenty (20) days per calendar year (with such amount prorated for the balance of 2017).

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to paid vacation in accordance with the Company’s vacation policies, as in effect from time to time. The Executive shall receive other paid time-off in accordance with applicable law and the Company’s policies for executive officers as such policies may exist from time to time.

  • Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.

  • Vacation and Paid Time Off The Executive shall be entitled to vacation and paid time off in accordance with the standard policies of the Company for executives as in effect from time to time.

  • Time Off The company recognises that sufficient time off to attend to personal matters and for recreation are important to the employee’s wellbeing, job satisfaction and overall productivity. Accordingly, time off may be taken with the consent of the Company, which shall not be unreasonably withheld. In considering the approval to have time off, the Parties will have regard to the current works programme and the urgency of the reason for time off. In the event that time off is to be taken, it will be the employee’s obligation to advise the Company in advance or as soon as practicable on the day of absence, recognising that unplanned absences can cause costly disruption to programmed works and are a major source of annoyance for the company, other employees and clients. The object of offering flexible working hours is that in return employees will take very seriously their obligation to turn up when they are expected. In view of the disruption caused by unplanned and or notified absenteeism, repeated failure to observe the protocol for time off would constitute misconduct.

  • Accrued Salary and Paid Time Off 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 are entitled to these payments by law.

  • Personal Time Off Executive shall be entitled to paid time off in accordance with the Company’s policies applicable to executives.

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

  • Recall from Vacation Leave When during any period of vacation leave an employee is recalled to duty, he shall be reimbursed for reasonable expenses, as normally defined by the Employer, that he incurs:

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

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