Vacation Buy Back Clause Samples

Vacation Buy Back. An employee who utilizes at least one-half of his annual vacation accrual each fiscal year may convert up to forty (40) hours of accrued vacation to cash at his straight time rate. Employees may request buy-back during the month of May to be paid in the month of June, or at the time the employee takes one-half of his annual vacation. Buy-back is subject to available budget.

Vacation Buy Back. Employees may turn in for pay, up to, (2) two days of vacation days per calendar year. Pay shall be the employee’s regular rate. Employees wishing to utilize the vacation buy back must notify the administration in writing when vacation schedule is completed. Once turned in these days will be considered “banked”. Employees must fill out a request for vacation day pay when the employee wishes to cash in the vacation days. Requests must be in by November 30th of the current year.

Vacation Buy Back. Upon written request by the employee, City will buy back vacation hours provided the employee has taken forty (40) hours of vacation during the twelve (12) months prior to the date of request. The written request for vacation buy-back must be submitted to the Finance Department by the tenth (10th) day of the month to be paid on the twenty third (23rd) paycheck and by the twenty-fifth (25th) day of the month to be paid on the seventh (7th) paycheck. Only hours which have been accrued prior to the request are eligible for buy-back. Requests for vacation buy-back shall be limited to two (2) requests per employee per fiscal year.

Vacation Buy Back. A. Upon written request and subject to the following conditions, Employees may be paid for earned but unused vacation not to exceed a maximum request of eighty (80) hours; B. To be eligible, Employees must have a minimum of eighty (80) hours of earned unused vacation hours remaining after the buy-back; C. The rate of pay will be the same as what is received if the Employee were to work his/her regular shift; D. An Employee can buy back a forty (40) hour or an eighty (80) hour increment once a year; E. Employees must have taken at least five (5) vacation days of leave that year; F. Employees shall submit their request for buy-back during the month of September with a deadline of October 1st of each year on a form provided by Human Resources; ▇. ▇▇▇-back of vacation leave shall be paid on the first pay check of each November.

Vacation Buy Back. Each employee may request during any pay period and receive payment at the base hourly rate for up to eighty (80) hours per calendar year of accrued vacation leave, provided there is a minimum remaining balance of eighty (80) hours following payment. Effective March 3, 2003, all buy-backs will be subject to an eighty (80) hour maximum in a twelve- month period.

Vacation Buy Back. When necessary due to service requirements, such as those outlined in Article VI, Hours of Work, Section 9., Assigned Overtime, paragraphs a. and b., Management may offer an employee with at least fifteen (15) years of service the opportunity to sell his/her vacation back to the Company as follows: a. An employee eligible for four (4) weeks’ vacation un- der the provisions of Section 1.d. of this Article may be paid in lieu of one (1) week [or up to five (5) day-at-a- time vacation days] of unused vacation. b. An employee eligible for five (5) weeks’ vacation un- der the provisions of Section 1.e. of this Article may be paid in lieu of two (2) weeks [or up to ten (10) day-at-a- time vacation days] of unused vacation. Note: The offer of pay in lieu of vacation pursuant to this Section shall be effective only if agreed to by the em- ployee.

Vacation Buy Back. Towards a goal of reducing overtime costs, employees have the option to sell the equivalent of one-year's earned vacation accrual back to the City during the month of April each year at straight-time value. Payment will be made on the last paycheck in April. The employee shall retain a minimum of one-half year's vacation accrual on the books at the time of the sale.

Vacation Buy Back. Any employee, who puts in three separate requests for vacation at the employee’s preferred time and subsequently gets all three requests denied due to operational need, may elect to sell back such requested vacation days. In order to be considered as a denial under this section, the vacation request shall be for at least five

Vacation Buy Back. Employees may buy back vacation hours provided they use the same or more vacation hours as the amount of cashed-out leave during that same fiscal year. If an employee buys back more vacation hours than are used in a fiscal year, an amount equal to the overage will be deducted, without compensation, from the employee’s vacation leave bank. • Employees with at least 10 years of service may buy back up to 1 week of vacation leave per fiscal year. • Employees with at least 15 years of service are eligible to buy back up to 2 weeks of vacation leave per fiscal year. • Employees with at least 20 years of service are eligible to buy back up to 3 weeks of vacation per fiscal year. Vacation buy-back requests shall be processed with regular month-end payroll. Employees shall submit a vacation buy-back intent to their Department Director for the following fiscal year by November 1 of each year. If the employee does not submit their request by November 1, the Department Director may grant the request if funds are available to accommodate the vacation buy-back request.