SICK TIME BUYBACK Sample Clauses

SICK TIME BUYBACK. 24.1 In order to provide an incentive for employees to accumulate and maintain an adequate amount of sick leave, the City has initiated a "sick day buyback plan". Under this plan employees who do not use sick days will be compensated by the City purchasing back some of the days not used that were earned in the relevant year. The sick day buy back incentive plan will be implemented only at the employee's written request which must be provided to the employer by January 1st of each year of the contract, to receive payment for sick days accumulated in the previous year. In order to qualify for the plan the employee must first accumulate and not use six (6) days of sick leave in the relevant year. Any sick days not used in excess of the six days of accumulation will be bought back by the City at the employee's regular rate of pay. Pays will be made once a year and included in the final January paycheck of the succeeding year. Only employees hired prior to June 1st of each year would qualify for the program in that year. Buy-back Example: 8 2 9 3 11 5 13 7
Sample 1
AutoNDA by SimpleDocs
SICK TIME BUYBACK. Any officer that has accrued a minimum of seventy-five (75) sick days may sell back any balance above seventy-five (75) days not to exceed $5,000 per year. Request for buy back must be submitted by September 1st of that year. Payment will be made in the first regular pay ofNovember. The rate of pay will be at seventy-five percent (75%) per day.
Sample 1

Related to SICK TIME BUYBACK

  • Sick Leave Buyback The Board agrees to buy sick leave days back from those teachers who have more than one hundred (100) accumulated sick leave days at the end of a school year. The value of each unused day will be determined based on the formula in Section A above. The total amount calculated will be deposited into the teacher’s Section 401(a) account. If a teacher has in excess of 6 personal days, the days will be transferred to the total sick day accumulation for this calculation. The number of days will be figured using the above chart in this section.

  • Sick Time An employee shall have all of his/her accrued sick leave credits transferred when the employee is transferred to a different State agency.

  • Sick Leave Buy Back To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award: Employees who utilize two (2) sick leave days or less each assigned school calendar year and year-round employees who utilize three (3) sick leave days or less during each assigned school calendar year - upon request – shall receive payment for up to eight (8) days of sick leave, provided the employee worked the full assigned calendar year.* The following procedures apply to the payment of sick leave under this section.

  • Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.

  • Unpaid Time Off All accruals must be exhausted prior to taking unpaid time off (unless eligible for EIT access).

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • Sick Days Employees will be provided with 6 sick days per calendar year. Sick days are paid at 75% of the employee’s step rate.

  • Four Day Work Week Schedule i. When working under the four (4) day work week schedule, Employees shall be paid at double time (2x) the regular hourly rate for all hours worked in excess of the regular ten (10) hours per day Monday through Thursday.

  • Sick Leave Usage A. Sick leave may be used for an employee or an employee's child, spouse or parent's illness or injury, hospitalization and appointment pertaining to health.

  • Vacation Buy Back Employees shall have the option of requesting pay in lieu of time off up to a maximum of 144 hours of vacation time each year, during each year of the contract in increments of eight (8) hrs. Such requests are subject to the approval of the department head and the availability of funds.

Time is Money Join Law Insider Premium to draft better contracts faster.