Payout of Accrued Sample Clauses

Payout of Accrued. Leave (2021) Employees who resign in good standing are eligible for payout of all accrued vacation and compensatory time. Employees are not eligible for payout of personal leave. In addition, employees who resign in good standing are eligible for accrued sick leave payouts as follows: A separating employee, who was hired on or before July 1, 2013, who has completed the new hire probationary period, who leaves in good standing, will be paid for each day of accrued vacation leave, all accrued but unused compensatory time and for fifty percent (50%) of the employee's accrued sick leave up to a maximum of fifty percent (50%) of seven hundred twenty (720) hours of the employee's accrued sick leave for a total of three hundred sixty (360) hours of paid unused sick leave. Payment will be made at the employee's salary or wage level at the separation date. Any employee hired between July 1, 2013 and June 30, 2015, who has completed the new hire probationary period, who leaves in good standing, will be paid for each day of accrued vacation leave, all accrued but unused compensatory time, and for fifty percent (50%) of the employee’s accrued sick leave up to a maximum of (50%) of four hundred (400) hours of accrued employee’s sick leave for a total of two-hundred (200) hours paid of unused sick leave. Payment will be made at the employee’s salary or wage level at the separation date. Any employee hired on or after July 1, 2015, who has completed the new hire probationary period, who leaves in good standing, will be paid for each day of accrued vacation leave, all accrued but unused compensatory time, and for fifty percent (50%) of the employee’s accrued sick leave up to a maximum of (50%) of two hundred (200) hours of accrued employee’s sick leave for a total of one-hundred (100) hours paid of unused sick leave. Payment will be made at the employee’s salary or wage level at the separation date. Employees who resign or who are dismissed during their new hire probationary period will only be compensated for accumulated compensatory time. Payout of accrued leave shall be made in eighty (80) hour increments and in separate checks at the time of separation, unless Workday Time & Attendance, or another replacement payroll system, is implemented during the term of this Agreement and cannot accommodate the eighty (80) hour incremental payouts. Once an employee provides written notice to retire, the Judicial Branch will notify MSEA of the employee’s intent to retire so option...
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Payout of Accrued. SICK LEAVE Annually, employees may request to be paid out accrued sick leave in excess of 800 hours, up to one hundred twenty (120) hours at the rate of fifty percent (50%) of the dollar value of the time calculated on base hourly rate of pay. Those hours paid out will then be permanently reduced from the employee’s leave bank. To request a payout, employees must submit a memo to Human Resources for review and approval no later than November 15 of each year. The payout will be included in the first paycheck of December.

Related to Payout of Accrued

  • Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Basis of Compensation The Owner shall compensate the Architect/Engineer for the services provided in accordance with Article 7. Payments to the Architect/Engineer shall be as follows:

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Payment of Fee The cash management fee referred to in Clause 9.1 (Fee Payable) shall only be payable to the Current Issuer Cash Manager on each Payment Date in the manner contemplated by, in accordance with and subject to the provisions of the Current Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments.

  • Payment of Annual Leave on Termination On the termination of their employment, an employee will be paid their untaken or pro-rata annual leave.

  • Payment of Service Fees Customer will pay the Service Fees for Services ordered by Customer, and all other amounts due under the Agreement, pursuant to the terms of this Section 5.

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