Common use of Sell Back Clause in Contracts

Sell Back. Once each fiscal year, an employee may request to sell back to the City up to 40 hours of accrued vacation time provided that the employee has taken or is scheduled to take at least 40 hours of vacation during the fiscal year and there is at least 80 hours of vacation remaining after the sellback. This option shall be available only once each fiscal year. Employees choosing to exercise this option must advise the City, in writing, through their department manager. The City shall distribute the funds within 30 days of the request.

Sell Back. Once each fiscal year, an employee may request to sell back to the City up to 40 forty (40) total hours of accrued vacation time provided that the employee has taken or is scheduled to take at least 40 hours accrued holiday time, or a combination thereof, in excess of eighty (80) vacation during the fiscal year and there is at least 80 hours of vacation remaining after the sellback. This option shall be available only once each fiscal yearhours. Employees choosing to exercise this option must advise the City, City in writing, through their the department manager. The City shall make every effort to distribute the funds within 30 thirty (30) days of the request.