Voluntary Cash-Out of Paid Time Off Hours Sample Clauses

Voluntary Cash-Out of Paid Time Off Hours. Effective upon ratification, employees may cash-out paid time off (PTO) according to the limits and procedures for the cash out of PTO as applied to non-represented employees. The Union shall be notified of changes to the limits and procedures affecting PTO cash out. Upon ratification and through the end of the year in which ratified only, employees in the bargaining unit may request and receive a one-time PTO cash out without penalty.
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Voluntary Cash-Out of Paid Time Off Hours. Employees may cash-out any amount of their accrued vacation hours, provided the employee has a minimum balance of two (2) work weeks of vacation hours remaining immediately following the cash out. Cash- outs shall be processed at the employee’s current hourly rate of pay as recorded in the payroll system. A “Paid Time Off Cash-Out Request and Waiver” form must be submitted to Payroll by the payroll deadline.
Sample 1

Related to Voluntary Cash-Out of Paid Time Off Hours

  • Approved Leave of Absence During Vacation Where it can be established by the employee through a doctor's certificate that an illness or accident occurred, or where an employee qualifies for bereavement or any other approved leave during his/her period of vacation, there shall be no deduction from vacation credits for such absence. The period of vacation so displaced shall either be added to the vacation or reinstated for use at a later date, at the employee's option, as mutually agreed.

  • Approved Leave of Absence With Pay During Vacation When an employee is qualified for bereavement leave, sick leave or any other approved leave with pay during her vacation period, there shall be no deduction from the vacation credits for such leave. In the case of sick leave, this section shall only apply when the period of illness or injury is in excess of two (2) days and a note from a physician may be required. The period of vacation so displaced shall be taken at a mutually agreed time. An employee intending to claim displaced vacation leave must advise the Employer and provide necessary documentation within seven (7) days of returning to work.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to paid vacation in accordance with the Company’s vacation policies, as in effect from time to time. The Executive shall receive other paid time-off in accordance with applicable law and the Company’s policies for executive officers as such policies may exist from time to time.

  • Paid Time Off (PTO) During the Term, Executive shall be entitled to paid time off in accordance with Company’s policy in place from time to time; provided, however, that Executive shall be eligible to accrue no less than twenty (20) days per calendar year (with such amount prorated for the balance of 2017).

  • 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.

  • Holiday During Vacation If a holiday, named under Article 7 of this Agreement, falls within the vacation period of an employee, he shall be granted an additional day's pay in lieu of the holiday.

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Illness During Vacation (The following clause is applicable to full-time employees only)

  • Holidays During Vacation If a paid holiday falls or is observed during an employee's vacation period, he/she shall be granted an additional day's vacation with pay for each holiday in addition to his/her regular vacation time.

  • Bereavement During Vacation Where an employee's scheduled vacation is interrupted due to a bereavement, the employee shall be entitled to bereavement leave in accordance with Article 12.

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