Vacation Accrual - Continuous service Sample Clauses

Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours during the first through fourth years of service (cumulative to a total leave balance of 180-hours). This benefit will be accumulated at the rate of 3.08 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120-hours (cumulative to a total leave balance of 260-hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.62 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160-hours (cumulative to a total leave balance of 340-hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of 6.15 working hours for each full biweekly pay period of service performed. 4. Employees will accrue and be eligible to receive 200-hours (cumulative to a total leave balance of 420-hours) during the fifteenth and succeeding years of service. This benefit will be accumulated at the rate of 7.69 working hours for each full biweekly pay period of service performed. 5. Rounding may extend further decimal places as payroll systems are upgraded. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date which includes the employee anniversary date of benefited status.
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Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours annually during the first through fourth years of service. 2. Employees will accrue and be eligible to receive 120-hours annually during the fifth through ninth year of service. 3. Employees will accrue and be eligible to receive 160-hours annually during the tenth through fourteenth years of service. 4. Employees will accrue and be eligible to receive 200-hours annually during the fifteenth and succeeding years of service. 5. Maximum Vacation Accrual - at no time may an employee have more than three- years of vacation leave accumulated. No credits shall be accrued above this limit and any time in excess of the three-year limitation will be lost. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date, which includes the employee anniversary date of benefited status.
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Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. The following provisions shall apply: 1. The vacation leave accrual rates shall be as follows: Years of Service # of Weeks Hrs. of Supp. Accrual Bi-Week Hrs. of Supp. Accrual Yearly Hrs. of Non- Supp. Accrual Bi- Weekly Hrs. Non- Supp. Accrual Yearly 0-4 2 4.30 112 3.07 80 5-9 3 6.44 168 4.60 120 10-14 4 8.62 224 6.14 160 15+ 5 11.08 288 7.70 200 2. Maximum Vacation Accrual At no time may an employee have more than two years of vacation leave accumulated (i.e. twice the number of hours accrued annually). No vacation credits shall be accrued above this limit.
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Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80 hours during the first through fourth year of service (cumulative to a total leave balance of 240 working hours). This benefit will be accumulated at the rate of 3.08 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120 hours annually (cumulative to a total leave balance of 360 hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.62 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160 hours annually (cumulative to a total leave balance of 480 hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of
Sample 1Sample 2
Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to an annual vacation with pay. This benefit will be calculated on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours during the first through fourth years of service (cumulative to a total leave balance of 160-hours). This benefit will be accumulated at the rate of 3.07 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120-hours annually (cumulative to a total leave balance of 240-hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.60 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160-hours annually (cumulative to a total leave balance of 320-hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of 6.14 working hours for each full biweekly pay period of service performed. 4. Employees will accrue and be eligible to receive 200-hours annually (cumulative to a total leave balance of 400-hours) during the fifteenth and succeeding years of service. This benefit will be accumulated at the rate of 7.70 working hours for each full biweekly pay period of service performed. 5. Vacation sell back - All members of represented classifications earning three weeks or more vacation annually will have the option of selling forty (40) hours of said vacation back to the City. The accumulated vacation balance will be reduced accordingly. Payment of vacation hours will be made the first payday of each month provided that the Finance Department has received ten working days advance notice of the request prior to the payday.
Sample 1
Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. The following provisions shall apply: 1. The vacation leave accrual rates shall be as follows: Years of Service # of Weeks Hrs. of Xxxxx Xxxxxxxx Accrual Bi-Week Hrs. of Xxxxx Xxxxxxxx Accrual Yearly Hrs. of 40 hour Accrual Bi- Weekly Hrs. 40 hour Accrual Yearly 0-4 2 4.30 112 3.07 80 5-9 3 6.44 168 4.60 120 10-14 4 8.62 224 6.14 160 15+ 5 11.08 288 7.70 200 2. Personnel whose permanent assignment changes from shift to non-shift or vice versa shall have their accrued leave converted by the appropriate factor as shown below: A. Shift to Non-Shift - The accrual shall be modified by the factor 0.714. B. Non-Shift to Shift - The accrual shall be modified by the factor 1.4. C. When assigned to 13.5 hour shift work hours will be accrued and modified as appropriate. Multiple/divider 1.4 for all accruals and caps 3. Maximum Vacation Accrual At no time may an employee have more than two years of vacation leave accumulated (i.e. twice the number of hours accrued annually). No vacation credits shall be accrued above this limit.
Sample 1
Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to an annual vacation with pay. This benefit will be calculated on 26 pay periods per fiscal year. The following provisions shall apply: performed.
Sample 1
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Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service throughout the year previous to that in which the vacation is requested shall be entitled to an annual vacation with pay. The following provisions shall apply: (1) Employees shall accrue 10 working days during the first year of service. This benefit will be accumulated at the rate of 3.07 working hours for each full biweekly pay period of service performed. Eligibility to apply for accrued vacation will be effective on the employee's six month anniversary date. (2) Employees will accrue and be eligible to receive 10 working days annually (cumulative to a total leave balance of 20 working days) during the second through fourth year of service. This benefit will be accumulated at the rate of
Sample 1

Related to Vacation Accrual - Continuous service

  • Termination of Continuous Service Except as otherwise provided in this Section 3, the unvested portion of the award shall be forfeited as of the date (the “Termination Date”) that the Grantee actually ceases to provide services to the Company or any Affiliate in any capacity of Employee, Director or Consultant (irrespective of whether the Grantee continues to receive severance or any other continuation payments or benefits after such date) (such cessation of the provision of services by Grantee being referred to as “Service Termination”). A Service Termination shall not occur and Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate in any capacity of Employee, Director or Consultant.

  • Calculation of Continuous Service In determining the period of continuous service of employees on the active payroll for the purpose of vacation entitlement and Article

  • Period of Continuous Service Period of Notice Up to 1 Year 1 Week More than 1 Year but less than 3 Years 2 Weeks More than 3 Years but less than 5 Years 3 Weeks More than 5 Years 4 Weeks

  • Continuous Service The Parties shall continue providing services to each other during the pendency of any dispute resolution procedure, and the Parties shall continue to perform their obligations (including making payments in accordance with Article IV, Section 4) in accordance with this Agreement.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. (b) Executive shall be entitled to receive benefits under all short-term or long-term disability plans maintained by the Bank for its executives. To the extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits, Social Security disability benefits and the amount of Executive’s Base Salary for the longer of one (1) year following the termination of his employment due to Disability or the remaining term of this Agreement, which shall be payable in accordance with the regular payroll practices of the Bank. (c) The Bank shall cause to be continued non-taxable medical and dental coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to the termination of his employment based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) expiration of the remaining term of this Agreement; or (iv) Executive’s death. (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death in accordance with the regular payroll practices of the Bank for a period of one (1) year from the date of Executive’s death, and the Bank shall continue to provide non-taxable medical, and dental insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. Such payments are in addition to any other life insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans.

  • Termination of Service (a) If, prior to the Expiration Date, the Participant’s Service with the Company shall terminate (the date of termination being the “Date of Termination”) by reason of a Normal Termination (as defined in the Plan), the Options shall remain exercisable until the earlier of the Expiration Date or the day three (3) months after the Date of Termination to the extent the Options were vested and exercisable as of the Date of Termination. (b) If the Participant’s Service with the Company shall cease prior to the Expiration Date by reason of death or disability, or the Participant shall die or become disabled while entitled to exercise any of the Options pursuant to paragraph 3(a), the Participant or the Participant’s legal representative, or, in the case of death, the executor or administrator of the estate of the Participant or the person or persons to whom the Options shall have been validly transferred by the executor or administrator pursuant to will or the laws of descent and distribution, shall have the right, until the earlier of the Expiration Date or one year after the date of death or disability, to exercise the Options to the extent that the Participant was entitled to exercise them on the date of death or disability. (c) If, prior to the Expiration Date, the Participant’s Service with the Company is terminated for “Cause” (as defined in the Plan), (i) unless otherwise provided by the Committee, the Options, to the extent not exercised as of the Date of Termination, shall lapse and be canceled, and (ii) all shares of Common Stock received pursuant to an exercise of the Options after such termination, in contravention of subsection (i) above, may be purchased by the Company at its discretion for the exercise price of such shares paid by the Participant. If the Participant’s Service relationship with the Company is suspended pending an investigation of whether the Participant shall be terminated for Cause, all the Participant’s rights with respect to the Options shall be suspended during the period of investigation. (d) If, prior to the Expiration Date, the Participant’s Service with the Company is terminated other than for Cause, a Normal Termination, death or disability, the Options, to the extent then vested and exercisable as of the Date of Termination, shall remain exercisable until the earlier of the Expiration Date or thirty (30) days after the Date of Termination. (e) After the expiration of any exercise period described in any of Sections 3(a) - (d) hereof, or otherwise upon the Expiration Date, the Options shall terminate together with all of the Participant’s rights hereunder, to the extent not previously exercised.

  • Termination for Death or Disability If the Employee's employment is terminated by death or because of disability pursuant to Section 4.3, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, all sums which would otherwise be payable to the Employee under Section 3 up to the end of the month in which the termination of his employment because of death or disability occurs.

  • Termination of Employment Due to Death or Disability If your employment with the Company terminates due to death or Disability, in each case, prior to the Vesting Date, your Adjusted PSUs will vest and convert into Shares on the Adjustment Date (even though you are not employed by the Company on the Vesting Date). Upon a termination of employment due to death, the Adjusted PSUs shall be delivered in accordance with Section 10.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

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