Common use of Redemption of PTO Clause in Contracts

Redemption of PTO. A. Upon termination or transfer to a non-benefit position, 100% of the employee’s PTO balance will be paid. The payoff rate will be at the employee's current straight-time base hourly rate. B. PTO hours may not be used to extend employment beyond the last day actually worked. C. Employees may choose to cash out up to eighty (80) hours of PTO in increments of eight

Redemption of PTO. A. Upon termination or transfer to a non-benefit benefited position, 100% of all PTO balances will be paid out to the employee’s PTO balance will be paid. The payoff rate will be at the employee's ’s current straight-time base hourly raterate at time of termination or before transfer status. B. PTO hours may not be used to extend employment beyond the last day actually worked. C. Employees Up to twice during any calendar year an employee with Hospital approval may choose convert to cash out a minimum of 8 hours and up to eighty (80) 80 hours of PTO in increments accumulated PTO; provided, however, the employee must maintain a minimum balance of eightforty

Redemption of PTO. A. Upon termination or transfer to a non-benefit position, 100% of the employee’s PTO balance will be paid. The payoff rate will be at the employee's ’s current straight-time base hourly rate. B. PTO hours may not be used to extend employment beyond the last day actually worked. C. Employees may choose to cash out up to eighty (80) hours of PTO in increments of eight