Vacation Cash Out definition

Vacation Cash Out. The vacation cash-out provision of the MOU (1% value), referenced in Article 54 of the MOU, will be suspended during the July 2010-June 2011 Fiscal Year (i.e., the fall 2010 cash-out) on the same terms outlined in Article 54, subsection “c” of the MOU.
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Vacation Cash Out. Each year in December (first payday of December), an employee may opt to cash out any or all vacation hours that exceed one-hundred twenty (120) hours. If a cash out is elected, a minimum balance of one-hundred twenty (120) hours must remain on the books. Per California Labor Code, vacation leave is paid at the employee’s rate of pay at the time of pay out (i.e., the employee’s pay rate during the first payday of December).
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Vacation Cash Out. Employees covered by this agreement who have used 40 hours of vacation time in the prior calendar year shall be allowed 80 hours of vacation cash out per year.
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Examples of Vacation Cash Out in a sentence

  • The Compensatory Time Cash Out would be subject to the same conditions as Vacation Cash Out found in Article 9, g(1), g(2), and g(3).

  • Requests for vacation cash-out must be made in writing on the Irrevocable Vacation Cash Out Election Form provided by the District.

  • Employees must elect whether or not they want Vacation Cash Out and how much.

  • Said Vacation Cash Out election shall be irrevocable and will be paid in the pay period which contains December 1 of the Accrual Year, assuming said employee was still employed by the Town as of December 1 of the Accrual Year and assuming said employee has the requisite number of days he/she elected for Cash Out on the books as of December 1 of the Accrual Year.

  • The Compensatory Time Cash Out would be subject to the same conditions as a Vacation Cash Out found in Article 9, g (1), g (2), and g (3).

  • Employee must complete the “Irrevocable Annual Vacation Cash Out Election Form” each calendar year for the following year.

  • Pay in lieu of using the annual leave balance is not available, except as stated in the Company’s Vacation Cash Out Policy.

  • Any Vacation Cash Out will not be available for use in the preceding year.

  • The City will review the impacts of the Vacation Cash Out program annually.

  • If the employee is not eligible for Longevity Pay, the Vacation Cash Out will be in a separate check from the employee’s normal payroll check.

Related to Vacation Cash Out

  • Net Cash Payments means, with respect to any Disposition, the aggregate amount of all cash payments received by the Company and its Restricted Subsidiaries directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such Disposition (including, without limitation, Disposition Investments); provided that:

  • Cash Out means a monetary settlement of any quantities of energy owed to or from the Transporter, after which settlement Shipper, or such other party having title to the Gas, shall no longer have title to such energy.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case held by the Parent and its Consolidated Subsidiaries.

  • Minimum Cash Balance means a cash balance to be held by the Debtors on the Effective Date in an amount equal to $75 million plus any amounts received on account of GCI (as defined in the Uniti Term Sheet) reimbursements and Cash Payments (as defined in the Uniti Term Sheet) received by the Debtors on or before the Effective Date.

  • Cash Portion is defined in Section 2.2(a)(iii) hereof.