Common use of PTO Cash Out Clause in Contracts

PTO Cash Out. Employees who have been continuously employed for one (1) year may request one cash-out per calendar year of up to 80 hours of accrued PTO. PTO cash out must be made in whole hour increments and the employee must retain a minimum of eighty (80) hours in their PTO to be eligible for cash out. PTO cash outs will be made on regularly scheduled pay days. Requests for cash-out must be made at least four (4) weeks prior to the desired cash out and submitted to Human Resources on a KVH PTO Cash-Out form. PTO cash out shall be made at the employee’s base rate of pay in effect at the time the cash-out form was submitted.

PTO Cash Out. Employees who have been continuously employed for one (1) year may request one cash-cash- out per calendar year of up to 80 hours of accrued PTO. PTO cash out must be made in whole hour increments and the employee must retain a minimum of eighty (80) hours in their PTO to be eligible for cash out. PTO cash outs will be made on regularly scheduled pay days. Requests for cash-out must be made at least four (4) weeks prior to the desired cash out and submitted to Human Resources on a KVH PTO Cash-Out form. PTO cash out shall be made at the employee’s base rate of pay in effect at the time the cash-out form was submitted.