PTO Accrual Rate Sample Clauses

PTO Accrual Rate. The accrual of paid time off [PTO] hours shall be as follows: Months of Service Pay Period Accrual (in hours) Hours Accrued Annually 229 and over 25 300 Accrued PTO shall be earned and credited upon the completion of each pay period of service, in accordance with the schedule set forth above, except that PTO accrued during an employee’s first three (3) months of continuous service shall not be credited as earned and cannot be used until the employee completes the first three (3) months of continuous service. All changes in PTO accrual rates will take place on the first day of the pay period following an employee’s completion of the required full months of continuous employment. A “pay period” shall be defined as the 21st day of a calendar month through the 20th day of the following calendar month. Employees shall be eligible to earn PTO benefits for any pay period during which an employee is actively working or is on PTO or paid sick leave. PTO benefits do not accrue during periods that an employee is on layoff or unpaid leave. Full-time employees who are actively employed or on paid leave for part of a pay period will have their benefits prorated, as will part-time employees who are regularly scheduled to work at least ninety (90) hours per month.
Sample 1
PTO Accrual Rate. All regular full-time employees shall accrue paid PTO in accordance with the following schedule, which shall be prorated based on full time equivalency:
Sample 1
PTO Accrual Rate. In the case that UFCW local 21 Nursing receives an increase in the accrual rate or enhancement in tenure band, the same adjustments will be made to the accrual rates listed above.
Sample 1
PTO Accrual Rate. PTO shall accrue as follows: 25.02.01 New full-time employees (0-59 months) accrue PTO benefits at the rate of 4.93 hours per bi-weekly period, which is equivalent to 128 hours per year from their date of hire. 25.02.02 Upon completion of 5 years of service (60 months), full-time employees will accrue PTO benefits at the rate of 6.47 hours per bi-weekly period, which is equivalent to 168 hours per year.
Sample 1
PTO Accrual Rate. Your PTO accrual rate will be increased from 12.00 hours per month to 18.66 hours per month.
Sample 1
PTO Accrual Rate. Commencing from their date of hire, employees shall accrue PTO at a rate of 25 days per year. Upon completion of five (5) years of service, employees shall accrue PTO at a rate of 30 days per year. Upon completion of ten (10) years of service, employees shall accrue PTO at a rate of 35 days per year. Effective 1/1/2021, add additional 16 hours annual accrual for those employees who have 20 or more years of service. Completed Years Hourly Accrual Per Pay Period Annual Accrual Max Accrual (Based on FTE) 0-4 .09615 7.692 25 days (200 hrs) 5-9 .11538 9.230 30 days (240 hrs) 10+ .13462 10.769 35 days (280 hrs) Effective 1/1/2021: 20+ .14231 11.384 37 days (296 hrs)
Sample 1
PTO Accrual Rate. Upon the date of hire, Employees will accrue paid time off on the following schedule: 0 12.5 per month 1-4 15.625 per month 5-6 18.75 per month 7-11 20.00 per month 12+ 21.875 per month
Sample 1

Related to PTO Accrual Rate

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • Maximum Accrual Vacation credit may be accumulated to a maximum that can be earned in four (4) years. Further accumulation will not continue when the maximum is reached. When an employee’s vacation reaches the maximum level, and if the employee has been denied vacation during the twelve (12) months, the employee will be paid for the time denied but no more than eighty (80) hours in a pay period. 80 hours 320 hours 120 hours 480 hours 160 hours 640 hours 180 hours 720 hours 200 hours 800 hours 240 hours 960 hours

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year

  • Interest Accrual Each Class of Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Class A-1 and Class A-2b Notes will be calculated for each Interest Period on the basis of the actual number of days in the Interest Period and a 360-day year. Interest on the Notes (other than the Class A-1 and Class A-2b Notes) for each Interest Period will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

  • Rate of Accrual ‌ Full-time employees who have been in pay status for eighty (80) non-overtime hours in a calendar month will accrue annual leave according to the rate schedule below. Annual leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.

  • Interest Limitation It is the intention of the Company to conform strictly to all applicable usury laws and any subsequent revisions, repeals or judicial interpretations thereof. Accordingly, if the transactions contemplated hereby would be usurious under any applicable law then, in that event, notwithstanding anything to the contrary in the Securities or this Indenture, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law with respect to a Security shall under no circumstances exceed the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall have been paid in full, refunded to the Company), to the extent permitted by applicable law; and (ii) in the event that the maturity of any Security is accelerated or in the event of any redemption of such Security, then such consideration that constitutes interest under applicable law may never include more than the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall be paid in full, refunded to the Company), to the extent permitted by applicable law. All calculations made to compute the rate of interest with respect to a Security for the purpose of determining whether such rate exceeds the maximum amount allowed by applicable law shall be made, to the extent permitted by such applicable law, by allocating and spreading during the period of the full stated term of such Security all interest any time contracted for, taken, reserved, charged or received by such Holder or by the Trustee on behalf of any such Holder in connection therewith so that the amount or rate of interest charged for any and all periods of time during the term of the Security does not exceed the maximum amount or rate of interest allowed to be charged by law during the relevant period of time. Notwithstanding any of the foregoing, if at any time applicable laws shall be changed so as to permit a higher rate or amount of interest to be charged than that permitted prior to such change, then unless prohibited by law, references in this Indenture or any Security to “applicable law” when used in the context of determining the maximum interest or rate of interest that can be charged shall be deemed to refer to such applicable law as so amended to allow the greater amount or rate of interest. The right to accelerate maturity of any Security does not include the right to accelerate any interest which has not otherwise accrued to the date of such acceleration, provided, however, that the foregoing shall not prohibit the continuing accrual after acceleration of interest in accordance with the terms of the Indenture and such Security.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Pay Rate Sick leave pay shall be at the shift straight-time hourly rate.