Common use of Sell Back to Deferred Compensation Account Clause in Contracts

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at their straight time hourly rate in effect on November 30th the year preceding the payment date. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at their straight time hourly rate. Sell Back under this provision is for the express purpose of depositing into the employee's Deferred Compensation Account.

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at their his or her straight time hourly rate in effect on November 30th 30 in the year preceding the payment date. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at their his or her straight time hourly raterate in effect on November 30 in the year preceding the payment date. Sell Back under this provision is for the express purpose of depositing into the employee's Deferred Compensation Account.

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at their his or her straight time hourly rate in effect on November 30th 30 in the year preceding the payment date. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at their his or her straight time hourly raterate in effect on November 30 in the year preceding the payment date. Sell Back under this provision is for the express purpose of depositing into the employee's ’s Deferred Compensation Account.