Surrender of Unused Days Sample Clauses

Surrender of Unused Days. On an annual basis, each principal who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan.
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Surrender of Unused Days. On an annual basis, each supervisor who has completed at least three (3) years of service to the District may surrender a combination of up to
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Surrender of Unused Days. On an annual basis, the Superintendent may surrender a combination of up to fifteen (15) days of unused sick leave, vacation, and floating holidays. In return for those days the Superintendent will receive her daily rate of pay times the number of surrendered days to be paid by direct payment to the Superintendent. The payment or contribution shall be made during the period from July 1 through July 15 of the following school year. At no time will payment of unused days exceed fifteen (15) days. The daily rate is calculated by dividing the annual salary by 235.
Sample 1
Surrender of Unused Days. On an annual basis, each principal hired on or before October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. On an annual basis, each principal after October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 5 days of floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan.
Sample 1
Surrender of Unused Days. On an annual basis, each principal hired on or before October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. The election to surrender accumulated sick leave and/or floating holiday must be made prior to the accrual of the sick leave or floating holiday (July 1st of the year of direct salary payment) and is irrevocable during that period and therefore may not be rescinded or changed. On an annual basis, each principal after October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 5 days of floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. The election to surrender floating holiday must be made prior to the accrual of the floating holiday (July 1st of the year of direct salary payment) and is irrevocable during that period and therefore may not be rescinded or changed.
Sample 1
Surrender of Unused Days. On an annual basis, each principal who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. Subd. 1. For the 2011-12 school year only, principals may sell up to four (4) sick days in addition to the current contract allowances, back to the district at their daily rate of pay. A principal will less than three (3) years of service may use floating holidays to meet this benefit. Subd. 2. For the 2012-13 school year only, principals may sell up to eight sick days in addition to current contract allowances, back to the district at their daily rate of pay. Payment criteria will be the same as Article IX, Section 9.
Sample 1

Related to Surrender of Unused Days

  • Holiday Falling on a Day of Rest ‌ (a) When a paid holiday falls on a regular full-time employee's day of rest, the employee shall be entitled to a day off with pay in lieu of the holiday. (b) If a regular full-time employee is called in to work on the day designated as the lieu day pursuant to (a) above, he/she shall be compensated at time and one-half for all hours worked.

  • Holiday Falling on a Scheduled Workday An Employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double time and one-half (2½) for hours worked, plus a day off subject to this Agreement.

  • Effective November 15, 1985 casual part-time nurses will be placed on the salary grid in accordance with their service, such service to be calculated in accordance with the seniority calculation set out in Article

  • WORKING DAY BEFORE AUCTION DATE Any intending bidder who intends to bid on behalf of another person, body corporate or firm is required to deposit with the Auctioneer prior to the auction sale an authority letter to state that he/she is acting on behalf of another person, body corporate or firm and he/she is authorised to sign all the necessary documents. All intending bidders shall be required to verify their identities by showing to the Auctioneer their identity cards prior to the commencement of the auction, failing which, they shall not be entitled to bid. In the event that the Bumiputra lot is sold to a non Bumiputra or if the successful bidder is below the age of 18 or is an undischarged bankrupt or is not legally competent to purchase the property, then such sale shall be cancelled and the deposit paid shall be refunded to the successful bidder and thereafter the Assignee shall be at liberty to put up the property for sale. A foreign citizen/foreign company may be allowed to bid for the property and if the bid is successful, the sale is subject to the foreign citizen/company applying and obtaining at his/her/its own cost to the Economic Planning Unit (if applicable) and/or relevant State Authority for the unconditional consent to the sale within the period stated in Clause 11 hereof but subject to Clause 22 hereof.

  • Loading on Annual Leave During a period of annual leave an Employee covered by this clause shall receive a loading of 22.5% calculated on the all-purpose rate of wage prescribed by Appendix A, clause 2.3 of this Agreement.

  • Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates representing the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

  • Boxing Day If another Federal, Provincial or Municipal holiday should be proclaimed during the term of this Agreement, such additional proclaimed holiday will replace one of the above-named holidays as agreed by the parties. The intent is that there will be no more than twelve (12) paid holidays per calendar year for the duration of this agreement.

  • Adjustments Not Yet Effective Notwithstanding anything to the contrary in this Indenture or the Notes, if: (i) a Note is to be converted pursuant to Physical Settlement or Combination Settlement; (ii) the record date, effective date or Expiration Time for any event that requires an adjustment to the Conversion Rate pursuant to Section 5.05(A) has occurred on or before the Conversion Date for such conversion (in the case of Physical Settlement) or on or before any VWAP Trading Day in the Observation Period for such conversion (in the case of Combination Settlement), but an adjustment to the Conversion Rate for such event has not yet become effective as of such Conversion Date or VWAP Trading Day, as applicable; (iii) the Conversion Consideration due upon such conversion includes any whole shares of Common Stock (in the case of Physical Settlement) or due in respect of such VWAP Trading Day includes any whole or fractional shares of Common Stock (in the case of Combination Settlement); and (iv) such shares are not entitled to participate in such event (because they were not held on the related record date or otherwise), then, solely for purposes of such conversion, the Company will, without duplication, give effect to such adjustment on such Conversion Date (in the case of Physical Settlement) or such VWAP Trading Day (in the case of Combination Settlement). In such case, if the date on which the Company is otherwise required to deliver the consideration due upon such conversion is before the first date on which the amount of such adjustment can be determined, then the Company will delay the settlement of such conversion until the second (2nd) Business Day after such first date.

  • By December 31, 2015, the Board will calculate the annual amount of a.i) divided by a.ii) which will form the base funding amount for the Trust;

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

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