Vacation Accumulation definition

Vacation Accumulation. The Board and the Superintendent agree that periodic vacation is beneficial to “recharge” the Superintendent. As such, the Superintendent shall use at least ten (10) days of vacation each year. At the end of the contract year the Superintendent will be reimbursed for up to ten (10) days of any remaining unused vacation days at the effective daily rate of pay in such contract year. Any remaining unused vacation days remaining from a prior contract year shall be added to the number of vacation days the Superintendent has for the following contract year, such that the total vacation days at the beginning of each contract year be no more than thirty (30) days. Upon ending employment, unused vacation days will not be paid except to the extent required by law. If payable, unused vacation will be paid at the effective daily rate of pay at the time each unused vacation day first became available. There shall be no pay for unused vacation days in the event the Board determines that the Superintendent has engaged in misconduct which provides just cause for termination or cancellation.
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Examples of Vacation Accumulation in a sentence

  • PAID VACATION 675.01 Calendar Year Full Time and Part Time Employees 675.02 Scheduling of Vacation 685.03 Vacation Accumulation 685.04 Payment upon Termination/Transfer to a Position 685.05 Holidays during Vacation 68SECTION 6.

  • Vacation may be accumulated as other employees according to the section on Vacation Accumulation (See Article 5.1).

  • Vacation Accumulation: An employee may elect to bank a maximum of three (3) weeks of vacation for an indefinite period.

  • Employees who have successfully completed their respective probationary periods will be entitled to vacations with pay in accordance with the following schedule: Term of Service Maximum Vacation Earned Per Month Maximum Vacation Earned Per Year Maximum Vacation Accumulation Per Sec.

  • Vacation Pay at TerminationEmployees who terminate employment shall be paid a lump sum for such vacation accrued as provided in sections Vacation Benefits and Vacation Accumulation.

  • Vacation may be accumulated as other employees according to the section on Vacation Accumulation (See Article 5.

  • Vacation Accumulation – Earned vacation is credited monthly at rates that are based upon length of continuous employment.

  • Vacation Accumulation Article 28.01 Vacation Entitlement Add one additional vacation day effective for the accrual period beginning July 1, 2016 Add one additional vacation day effective for the accrual period beginning July 1, 2018 Plus consequential amendments to the Casual Employees Addendum, i.e., January 1, 2017 and January 1, 2019.

  • If the requirements of the service are such that a department headcannot permit the employee to take the floating holiday(s) within a particular calendar year, the employee shall add the unused floating holiday(s) to the employee's accrued vacation according to Section 3.5 (Maximum Vacation Accumulation).

  • PAID VACATION 763.04 Involuntary Transfers 764.01 Notice 764.02 Calendar Year Full-Time and Part-Time Employees (260 scheduled workdays) 774.03 Scheduling of Vacation 774.04 Vacation Accumulation 774.05 Payment Upon Termination/Transfer to a Position Not Eligible for Vacation 77SECTION 5.

Related to Vacation Accumulation

  • Principal Accumulation Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Return Accumulation Period means the period from (and including) a Periodic Distribution Date (or, in the case of the first Return Accumulation Period, the Issue Date) to (but excluding) the next (or, in the case of the first Return Accumulation Period, the first) Periodic Distribution Date;

  • Accumulation Period has the meaning set forth in the Indenture Supplement.

  • Accumulation shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee. This is the employee’s “Maximum Balance.”

  • Controlled Accumulation Period means, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the August 2020 Monthly Period or such later date as is determined in accordance with subsection 4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2022-2) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.

  • Controlled Accumulation Amount means $104,166,667; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Required Accumulation Factor Number shall be equal to a fraction, rounded upwards to the nearest whole number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months preceding the date of such calculation.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Interest Commencement Date means the Issue Date or such other date as may be specified in the relevant Final Terms.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Accumulation Unit is the unit of measure we use before the Income Date to keep track of the value of each Variable Sub-Account.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;