Unused Sick Leave The accrual of unused sick leave hours is unlimited. The City and the Union commit to the evaluation and establishment of a mutually beneficial non-use of sick leave incentive and pay-out policy. Until such time that a policy is established, accumulated sick leave shall be compensated as follows: Upon retirement from the City service, an employee shall be paid sixty percent (60%) of his accumulated sick leave, with the rate of payment based upon his regular pay at the time he retires. Upon the death of an employee, his beneficiary shall be paid sixty percent (60%) of his accumulated unused sick leave, with the payment based upon his regular pay at the date of his death.
Unused Fees For each day during the term hereof that the Applicable Rate is determined pursuant to clause (a) of the definition of Applicable Rate, the Borrower shall pay a fee to the Administrative Agent for the pro rata benefit of the Lenders in an amount equal to the Unused Fee for such day. The Unused Fee shall be payable quarterly in arrears on the first Business Day of each calendar quarter and as of the Revolving Maturity Date.
Vacation Leave Accrual After a full-time employee has been in pay status for eighty (80) non-overtime hours in a calendar month, the employee will accrue vacation leave according to the rate schedule below. Vacation leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.
Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year
Unused Line Fee On the first day of each month during the term of this Agreement, an unused line fee in an amount equal to 0.375% per annum times the result of (i) the Maximum Revolver Amount, less (ii) the sum of (A) the average Daily Balance of Advances that were outstanding during the immediately preceding month, plus (B) the average Daily Balance of the Letter of Credit Usage during the immediately preceding month,
Vacation Leave Credits Full-time and part-time employees will be credited with vacation leave accrued monthly, according to the rate schedule and vacation leave accrual below.
Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.
Sick Leave Usage 1. Sick leave may be used by an employee when sick, injured, or quarantined. Also sick leave may be used on the occasion of an illness in the employee's family, where a need can be shown.
2. In computing compensation payable for sick leave, the compensation paid shall be the amount the employee would earn during the sick leave period if working at their current rate of pay and work schedule without the inclusion of overtime earnings.
Sick Leave Bonus For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.
Accumulation of Vacation Leave Credits An employee shall earn vacation leave credits for each calendar month during which the employee receives pay for at least ten (10) days at the following rate:
