Vacation Leave Cash Sample Clauses

Vacation Leave Cash. Outs (56 hour employees)– Each fiscal year, employees will have the following cash-out options: 1)A single one hundred twelve (112) hour cash-out any time during the fiscal year, regardless of the employees maximum accrual and regardless of the employees Vacation Leave usage; and, 2) Up to four cash-outs per fiscal year, any time during the fiscal year (irrespective of quarter), based on a “2 for 1” usage ratio, up to a maximum of 112-hours for each cash out. For example, if an employee uses 10 hours of Vacation Leave, the employee could cash out up to 20 hours of Vacation Leave; in order for an employee to cash-out the maximum of 112-hours Vacation Leave, the employee would need to use 56 hours of Vacation Leave.
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Vacation Leave Cash out: Effective September 1, 2015, employees may cash-out up to five (5) days of vacation leave, one time per fiscal year. Upon making notification to Payroll, the employee will be paid in the next applicable pay cycle.

Related to Vacation Leave Cash

  • Vacation Leave A part-time employee shall earn vacation leave credits for each month in which the employee receives pay for at least twice the number of hours in the employee’s normal workweek, at the rate for years of service established in clause 34.02 of this Agreement, prorated and calculated as follows:

  • 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 Maximum Employees may accumulate maximum vacation leave balances not to exceed two hundred and forty (240) hours. However, there are two (2) exceptions that allow vacation leave to accumulate above the maximum:

  • VACATION LEAVE WITH PAY 14.01 The vacation year shall be from April 1st of one calendar year to March 31st of the following calendar year inclusive.

  • Recall from Vacation Leave Where, during any period of vacation leave, an employee is recalled to duty, such employee shall be reimbursed for reasonable expenses, as normally defined by the Employer, that such employee incurs:

  • 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.

  • ANNUAL LEAVE (VACATION) A. Full time employees, except for participants in the Deferred Retirement Option Program, shall be entitled to earn Annual Leave (Vacation) time according to the following schedule: YEARS OF CONSECUTIVE SERVICE COMPLETED: DAYS EARNED PER BI-WEEKLY PERIOD: UP TO AN ANNUAL MAXIMUM OF: less than 5 .38 10 days 5 .57 15 days 10 .65 17 days 13 .77 20 days 20 .80 21 days 21 .84 22 days 22 .88 23 days 23 .92 24 days 24 .96 25 days B. Annual Leave days may be accumulated to a maximum of thirty (30) work days.

  • Annual Vacation Leave 30.01 An Employee shall not take vacation leave without prior authorization from the Employer.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

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