Banked Vacation definition

Banked Vacation has the meaning set forth in Section 7.2(f).
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Banked Vacation means vacation time accrued on the Contributor's records as payable to any Partnership Employee who is a Non-Union Employee for which vacation time has not been taken for the period prior to January 1, 1982, 1986 or 1988, as appropriate for such Partnership Employee. "Carryover Vacation" shall mean vacation time which (a) is not Banked Vacation; (b) has been accrued on the Contributor's records as payable and approved by designated personnel for any Partnership Employee who is a Non-Union Employee; and (c) such vacation time has not been taken prior to the Expiration Date and which was earned for any period prior to January 1, 1998.
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Banked Vacation means vacation time accrued on Seller's or its Affiliates' records as payable to any Transferred Salaried Employee for which vacation time has not been taken prior to May 31, 1997 and which was earned prior to January 1, 1997. If agreed to by the Unions prior to the Closing, on or promptly after the Closing Date Seller shall pay to each Union Employee any applicable Accrued Union Vacation. If there is no agreement with the Unions prior to the Closing, Seller shall exercise its rights under federal labor law to undertake to provide the benefit referred to in the preceding sentence. "Accrued Union Vacation" shall mean one-half of the vacation time accrued on Seller's or its Affiliate's records as payable to any Union Employee for which vacation time was earned prior to January 1, 1997, but has not been taken prior to May 31, 1997. In addition, Seller shall pay to Purchaser on or promptly after the Closing Date an amount equal to one-half of the aggregate vacation time accrued but not taken by the Transferred Salaried Employees and the Union Employees from January 1, 1997 until May 31, 1997.
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Examples of Banked Vacation in a sentence

  • The vacation amount will be prorated based on the hours of work and years of service: Two (2) weeks per scheduled hours of work 0-4 years of service Three (3) weeks per scheduled hours of work 5 plus years of service Banked Vacation The entitled vacation allotment will be given to eligible employees at the beginning of each calendar year.

  • Xxxxxxxx is strongly encouraged to take their full vacation entitlement each year, but will be permitted to carry over no more than two weeks of paid vacation from one year to the next ("Banked Vacation").

  • The Board reserves the right to eliminate and pay out Banked Vacation when it, at its sole discretion, believes it preferable to pay out, rather than continue accumulating, Banked Vacation, subject to the Code (as defined below).

  • Banked Vacation pay will be paid out at the rate that it was earned up to a maximum of two (2) times per calendar year.

  • Banked Vacation Effective January upon eligibility for working days (five weeks) of annual vacation, employees may defer and accumulate any vacation entitlement beyond days per year.

  • All Banked Vacation Days an employee has accumulated as of May 1, 2021 will remain banked and will be paid out upon the employee leaving the Company.

  • Upon or promptly after the Expiration Date, the Contributor shall pay any Banked Vacation and Carryover Vacation.

  • The following will confirm the understanding and agreement between the parties concerning Banked Vacation Days.

  • You will receive a separate lump sum payment for Banked Vacation time equal to 136 hours or $16,346.18 and current accrued and unused vacation time equal to 57 hours or $6,850.97.

  • After effecting the AAI Banked Vacation Time Cash-Out, the remaining amount of Banked Vacation Time each Transferred Employee has available for use as of the Closing Date will become his or her starting amount of paid vacation with the Purchaser, or any Affiliate of the Purchaser, as the case may be, for the 2007 calendar year.


More Definitions of Banked Vacation

Banked Vacation has the meaning specified in Section 5.24(j) of the Agreement.
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Banked Vacation is defined in Section 2.8(g).
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Banked Vacation is defined in Section 1.7(j).
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Banked Vacation means vacation time accrued on Contributor's records as payable to any Salaried Employee who becomes a Partnership Employee for which vacation time has not been taken prior to January 2, 1999.
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Related to Banked Vacation

  • Vacation means annual vacation with pay.

  • Sick Leave means the period of time an employee is absent from work by virtue of being sick or disabled or because of an accident not covered by Workers' Compensation.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Weeks Pay' means the ordinary time rate of pay for the employee concerned:

  • Holidays are defined as New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.

  • Compensatory time off means authorized time off earned by or awarded to an employee to compensate in whole or in part for time worked in excess of the minimum work time required of that employee as a condition of his or her employment.

  • Bereavement Pay Benefits means the benefits as set out in Article II hereof.

  • Senior Executives has the meaning set forth in Section II.A.3.

  • Bonuses means current cash compensation over and above Base Salary whether awarded under the Company’s Incentive Compensation Plan or otherwise awarded.

  • training allowance means an allowance (whether by way of periodical grants or otherwise) payable—

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;

  • Bonus means the bonus described in the Section 2.3.

  • Number of Employees enter the total number of Employees in the employment category employed to provide services under the Contract during the report period, including part time Employees and Employees of subcontractors.

  • Year of Employment means a period of service of 12 months.

  • Period of Employment shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Annual Leave and Clause 6.3 “Personal (Sick) Leave” of this Agreement.

  • Senior Executive means the chief executive officer, chief operating officer, chief financial officer, and anyone in charge of a principal business unit or function.

  • Fringe benefits means the amount of:

  • Paid leave means time away from work by an employee for which the employee receives compensation. Paid leave is limited to sick time, vacation time, compensatory time, and leave that is provided as an aggregate amount for use at the discretion of the employee for any of these purposes. Paid leave does not include paid short-term or long-term disability, catastrophic leave, or similar types of benefits.

  • Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • Salary as defined in Section 3.1(a).