Sellback of Vacation Sample Clauses

Sellback of Vacation. An employee may elect to convert for payment in cash a maximum of one (1) years unused vacation days per the City’s fiscal year (from July 1 to June 30). This right to sellback shall only be in effect provided that one week of vacation accrual remain on the books after the vacation sellback takes place. The payment shall be computed at the employee’s current salary rate, provided adequate funds are available in the effected department’s budget as determined by the City Administrator.
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Sellback of Vacation. Subject to IRS regulations, during the first full pay period of November of each year, employees with at least five (5) years of service may sellback up to forty (40) hours of vacation time provided a balance of at least forty (40) hours of vacation is maintained after the vacation sellback. The parties agree that beginning with the pay period containing July 1, 2012 the ability to sell back up to forty (40) hours of vacation will be eliminated.

Related to Sellback of Vacation

  • Accumulation of Vacation Vacation leave may be accumulated to any amount provided that once during each fiscal year, each supervisor's accumulation must be reduced to two hundred and seventy-five (275) hours or less. If this is not accomplished on or before the last day of the fiscal year, the amount of vacation shall automatically be reduced to two hundred seventy-five (275) hours at the end of the fiscal year. Supervisors on a Military Leave under Appendix I shall earn vacation leave as though actually employed, without regard to the maximum accumulation set forth above. Vacation earned in excess of the maximum accumulation shall be taken within two (2) years of the date the supervisor returns from the Military Leave.

  • Preference in Vacation (1) A preference in selection of vacation time shall be determined in each work group on the basis of service seniority by classification within that work group.

  • Callback from Vacation (a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency.

  • Time of Vacation (a) All vacation earned during one (1) vacation year shall be taken during the next following vacation year at a mutually agreeable time.

  • Banked Vacation Once every five years an employee may bank one full year's vacation to be taken in conjunction with the next year's vacation. For the purposes of this clause, all vacation in the second year must be taken concurrently.

  • Sick Leave While on Vacation An employee who while on vacation is incapacitated for one (1) or more days due to personal illness or injury may charge such days to accrued sick leave. In such event, the employee promptly shall notify his department, and upon return to duty shall substantiate the need for, and use of, sick leave.

  • Preference in Vacations Vacations shall be granted first on the basis of seniority.

  • Pay in Lieu of Vacation Employees may in any federal fiscal year elect, in twelve (12) hour increments, in lieu of vacation time off, to receive compensation for up to sixty (60) hours for the year and is subject to management approval.

  • Sick a. Except as otherwise may be provided in this Article, the Principal shall be entitled to accrue and use sick leave as provided in the regulations of the Alaska Department of Education, 4 AAC 15.040. At the beginning of the work year, the Principal shall be pre-credited with the sick leave days anticipated to be accrued during the year. The value of pre-credited days in excess of accrual shall be deducted from the Principal’s final paycheck upon termination. The Principal shall be responsible for notifying the immediate supervisor as far in advance of the use of sick leave as possible. A statement by an attending physician or health aide may be required for sick leave, at the discretion of the immediate supervisor or Superintendent.

  • SECTION 4 - VACATION 4.1 Employee shall be entitled to accrue and take vacation leave in accordance with the policy applicable to employees of Manitoba.

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